{"id":387980,"date":"2019-06-29T01:00:58","date_gmt":"2019-06-29T01:00:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=387980"},"modified":"2019-06-29T01:48:18","modified_gmt":"2019-06-29T01:48:18","slug":"nasa-asteroid-gold-bitcoin-space","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/nasa-asteroid-gold-bitcoin-space\/","title":{"rendered":"Space Holds The Key to The Bitcoin (BTC) Moon Mission: Flipping Gold"},"content":{"rendered":"

Space might be the final frontier, but it also might end up being the final showdown between crypto asset Bitcoin and the precious metal and chemical element known as gold<\/a>. In a wild story that sounds like it was ripped from the pages of science fiction novels, NASA is planning a space mission to an asteroid comprised of previous metals \u2013 such as gold \u2013 to conduct extensive scientific research that could uncover the viability of mining the astroid for the supposed over $10 quadrillion worth it contains. <\/span><\/p>\n

While such an event is many years away, if asteroid mining companies are able to tap into the golden goose of a rock, it could considerably throw off the supply of gold<\/a>, rendering it virtually worthless. Such an event would also propel Bitcoin<\/a> significantly, and really highlight the importance of its hard-coded digital scarcity compared to the perceived scarcity of its physical counterpart. <\/span><\/p>\n

NASA Plans 2022 Mission to Explore Gold-Filled Asteroid <\/span>Psyche 16<\/span><\/h2>\n
The National Aeronautics and Space Administration is planning a \u201c mission to a metal world<\/a>,\u201d when it visits an asteroid called Psyche 16 said to be comprised of $10 quadrillion worth of precious metals including gold.<\/span><\/p>\n
NASA\u2019s motives are purely for exploration, as they intend to \u201cdetermine whether Psyche is a core, or if it is unmelted material,\u201d among other scientific research goals. However, the powerhouses of the mining industry that control most of the gold that\u2019s brought to market, would be eager to travel to space and back to further grow their market dominance and control the supply.<\/span><\/p>\n
Related Reading | Crypto Pundit Peter Schiff Says Gold Is In Early Bull Market, But Bitcoin Is a Sucker\u2019s Rally\u00a0<\/a><\/strong><\/em><\/p>\n
Such a thing would still be many years away, as the launch of such a mission would begin in 2022 barring any major delays, take an estimated 2.5 years to reach the golden goose asteroid, and at least a year or two to conduct research. That research would need to be assimilated, and mining companies would need to understand exactly how much of the precious metals could be extracted before venturing into outer space.<\/span><\/p>\n

Tapping Asteroid Would Cripple Gold Value, Take Bitcoin Price to Final Frontier <\/span><\/h2>\n
The amount the asteroid could potentially contain worth of metals like iron, nickel, gold, and palladium \u2013 some more valuable than others here on Earth \u2013 is said to be enough to make every human on Earth a billionaire, but that\u2019s just not how basic supply and demand economics works. Based on current gold prices, maybe. But tapping into such an asteroid could potentially be catastrophic for the price of gold \u2013 but equally as beneficial for Bitcoin<\/a>.<\/span><\/p>\n
Each year, gold miners bring to market between 4-5 million ounces of gold, or between $5.6 and $7 billion dollars, to the market. It takes as much as $210 billion \u2013 the entire current market cap of Bitcoin \u2013 to move gold just 3%, so the addition of only a few billion dollars doesn\u2019t hinder the asset\u2019s value increasing.<\/span><\/p>\n
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The day the gold bugs will learn the value of scarcity… and that's why Bitcoin should be in everyone's portfolio.https:\/\/t.co\/6LpwxtHHuW<\/a> pic.twitter.com\/y5dCX2O8aT<\/a><\/p>\n
— WhalePanda (@WhalePanda) June 28, 2019<\/a><\/p><\/blockquote>\n