Hi there friends on Ecency and all other Frontends on Hive, I actually made a wave in the morning on Ecency promising everyone that I would share my thoughts on this very interesting topic.
Now before I start, I'll ask a simple question! Who do you think would be the world's first Trillionaire?
Well I've got the answer and infact it's not just no money, it's about peace and prosperity of the entire human race.
Ever since I was just a little boy, I have always been interested in the possibilities that space holds. Of course that's it peculiar to me because there are quite a lot of people that are very passionate about things outside our planet earth.
One of the areas that captivate me the most is asteroid mining because I strongly believe that it hold the capacity to transform how mineral shortages are solved on Earth.
One of the biggest causes of wars between countries is usually a fight over land and mineral resources. The reason is because of how limited our resources are. And infact the more we increase in population, the more problematic limited resources would be to us.
In his own words Peter Diamandis, co-founder of the X-Prize, says that the first trillionaire will be from asteroid mining. No doubt about it; I concur with him.
Here's a video of that;
One of my favorite physicists, Neil deGrasse Tyson also talked about it in this video
Diamandis’s remark about space being like a natural sieve for precious metals is really fascinating.
Ok let me get a little technical to explain myself. Some asteroids are actually planet cores that failed to fully form themselves. The heavy metals sank into their cores when these early planets were molten while lighter materials remained near their surfaces. Gradually they fragmented exposing pieces full of valuable minerals such as gold, platinum, iron and nickel into space. This implies that there are some asteroids filled with metals rare and costly on earth.
I'm no scientist so most of what I just shared with you on the technical side is from Neil deGrasse Tyson's explanation.
What would happen if we accessed these resources completely?
Let's face it, the earth is about to deplete its stocks of various critical minerals. Gold, platinum and other valuable metals are not just for ornaments; they are vital in production of electronics, medical equipment and many other industries. Iron and nickel, among others, are required to establish infrastructure as well as produce goods. As these become more scarce on Earth, their costs increase while the scarceness can result into wars over their ownership.
Asteroid mining could totally alter this situation. If we could find a way of reaching the huge deposits of minerals in space then our earthly resources would be relieved. This will stabilize prices and will reduce chances of resource-based conflicts.
Furthermore, it may offer the ingredients required for future technological breakthroughs that might herald a new period of growth and innovation.
Asteroid mining entails much more than addressing our resource problems. It will be a significant challenge in terms of both technology and logistics. We are not yet efficient at asteroid mining. There is need for advancements in space travel, robotics and materials science. Asteroid mining needs substantial investment and cooperation on an international level.
Some firms have already taken measures towards this target. Planetary Resources and Deep Space Industries for instance are working on the technology required to locate, capture, and mine asteroids. As a result of companies like SpaceX that make space travel cheaper and more available, the prospect of asteroid mining grows closer every day.
Here's an example of space projects that Planetary Resources has under taken.
We, however, are in the infancy. Years may pass before we can witness a successful asteroid mining business on earth. There are many obstacles such as building infrastructural capabilities that will permit transferring mined products back to earth or using them in space. Moreover, we must establish a legal framework enabling responsible and sustainable exploitation of celestial bodies.
Though these challenges exist, I am hopeful. From past experiences, it is evident that great risks inspire innovation. Huge opportunities lying in outer space will drive advances and investments. With each technological progress accompanied by lower costs what appears to be science fiction would certainly become fact tomorrow.
To conclude my rather long blog, I think that asteroid mining is the answer to our mineral deficit.
It will give us an opportunity to reach large stores of valuable materials, which will in turn lessen our dependence on Earth’s limited supply. There are a lot of likely challenges ahead, but the possible gains make it all necessary. The first person who could extract minerals from asteroids might really become the world’s initial trillionaire and most importantly save a more prosperous future for everyone.
The part that I'm very happy about is the fact that there will be less wars because of a country needs more resources, they could just get more Asteroids which is basically infinite in space..
I would love to hear your thoughts on this. Whoever gets to mine Asteroids effectively will definitely be worth trillions of dollars if not more.
Thank you for sharing this informative blog @theringmaster it is full of interesting information about the different elements and minerals from the asteroid and meteoroid.
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Absolutely, it was a pleasure sharing it and I'm thankful you took the precious time to read dear
Do you know the latest books of Daniel Suarez? DeltaV and Critical Mass? They are awesome SciFi about just this topic: Asteroid mining in the near future. You should definitely read them if you are interested in this topic! Actually I made a post a few months ago about each of both books here on Hive.
Wow I'm very excited to have a friend who is also aware of these things... I really have to read these books then.. thanks so much good Buddy I appreciate your comments 🥰🥰🥰
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Peter Diamandis looks so young in the video. :)
Yes 😂😂😂😂 I don't know if he's even aging at all. That wasn't recently though... Wow good friend, so glad you took the time to read....🥰
About 15 years ago... I checked the video when I looked at it.
You have some good topics on your blog. I'll keep an eye on it. 😀
Wow I'm so grateful buddy.. I keep an eye on your blogs always... You've got some awesome content as well thanks for your support friend