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16 Psyche: The asteroid that could make every person on Earth a billionaire
Could 16 Psyche make every person on Earth a billionaire? The space mining race is heating up.
- 16 Psyche is an asteroid full of metal in the asteroid belt that could be worth $700 quintillion.
- NASA plans to visit 16 Psyche by 2026.
- Commercial mining of faraway asteroids could still be decades away and some set closer targets, like the moon.
Would you like to be a billionaire? All you have to do is figure out how to go into space and mine 16 Psyche, an asteroid made of gold and other metals like iron and nickel. Flying somewhere between Mars and Jupiter, this amazing space rock is estimated to be worth as much as $700 quintillion, thanks to all the metals it contains.
Quintillion, if you are wondering, is 1 with 18 zeroes. It's such a large amount of money that if you divide it up between everyone alive on Earth currently, each person would get about $93 billion.
Of course, don't pack your bags for your new palace just yet – the prospect of actually getting such a giant chunk of precious metals back to Earth is difficult and hasn't been accomplished yet even on much smaller scales. And 16 Psyche is a truly massive space rock at over 200 km (120 mi) in diameter. It is one of the largest asteroids flying in the asteroid belt.
Experts, like Professor Zarnecki of the Royal Astronomical Society, conjecture we may be up to 50 years away from being able to carry out commercial mining operations of that size. To start things off, NASA is planning to send a Discovery Mission to the asteroid in 2022, which will arrive there by 2026.
Some skeptics also don't believe the asteroid is as full of expensive things as we think, with Peter Schiff of Euro Pacific Capital tweeting that 16 Psyche may just be "made almost entirely of an iron-nickel alloy, with small amounts of other metals, likely to include gold." He thinks the news about the asteroid are just out there to help bitcoin, which would benefit from the price of gold going down.
There are also other questions to consider – if it really is so full of gold and other riches, the asteroid could actually crash Earth's economy, which at $75.5 trillion is a pittance against the amount of money one could get from the asteroid.
Artist's conceptual drawing of the Psyche spacecraft, which will be used to directly explore 16 Psyche.
Veteran miner Scott Moore, CEO of the mining company EuroSun Mining, explained to Oil Price that: "The 'Titans of Gold' now control hundreds of the best-producing properties around the world, but the 4-5 million ounces of gold they bring to the market every year pales in comparison to the conquests available in space."
Of course, the thinking that a space gold rush that discovers a vast amount of heavy metals could bring down Earth's affairs is based on the current state of economy and the needs of the present day. Decades from now our requirements for metal might be entirely different.
16 Psyche was actually discovered back in 1852 by the Italian astronomer Annibale de Gasparis, and named after the Greek mythological character Psyche.
Besides this giant rock in the asteroid belt, there are other mining opportunities much closer to Earth. Moore points out that while Psyche "may be the Holy Grail of space exploration for gold," near-Earth asteroids are much better first targets for mining. Even our moon might be a better place to start such operations. It also has gold as well as platinum and other rare earth metals.
In other nearer goals, Deep Space Industries and Planetary Resources each plan to mine the 2011 UW158 asteroid, worth up to $5.7 trillion.
Lest you think this is all science fiction, Morgan Stanley projects the global space economy to be already worth $350 billion, which it thinks will grow to trillions by 2040. The race is on between the U.S., China, Japan and even small Luxembourg, which has 10 space-mining companies registered.
Why is NASA sending a spacecraft to a metal world? - Linda T. Elkins-Tanton
Ever since we've had the technology, we've looked to the stars in search of alien life. It's assumed that we're looking because we want to find other life in the universe, but what if we're looking to make sure there isn't any?
Here's an equation, and a rather distressing one at that: N = R* × fP × ne × f1 × fi × fc × L. It's the Drake equation, and it describes the number of alien civilizations in our galaxy with whom we might be able to communicate. Its terms correspond to values such as the fraction of stars with planets, the fraction of planets on which life could emerge, the fraction of planets that can support intelligent life, and so on. Using conservative estimates, the minimum result of this equation is 20. There ought to be 20 intelligent alien civilizations in the Milky Way that we can contact and who can contact us. But there aren't any.
Frequent shopping for single items adds to our carbon footprint.
- A new study shows e-commerce sites like Amazon leave larger greenhouse gas footprints than retail stores.
- Ordering online from retail stores has an even smaller footprint than going to the store yourself.
- Greening efforts by major e-commerce sites won't curb wasteful consumer habits. Consolidating online orders can make a difference.
A pile of recycled cardboard sits on the ground at Recology's Recycle Central on January 4, 2018 in San Francisco, California.
Photo by Justin Sullivan/Getty Images<p>A large part of the reason is speed. In a competitive market, pure players use the equation, <em>speed + convenience</em>, to drive adoption. This is especially relevant to the "last mile" GHG footprint: the distance between the distribution center and the consumer.</p><p>Interestingly, the smallest GHG footprint occurs when you order directly from a physical store—even smaller than going there yourself. Pure players, such as Amazon, are the greatest offenders. Variables like geographic location matter; the team looked at shopping in the UK, the US, China, and the Netherlands. </p><p>Sadegh Shahmohammadi, a PhD student at the Netherlands' Radboud University and corresponding author of the paper, <a href="https://www.cnn.com/2020/02/26/tech/greenhouse-gas-emissions-retail/index.html" target="_blank">says</a> the above "pattern holds true in countries where people mostly drive. It really depends on the country and consumer behavior there."</p><p>The researchers write that this year-and-a-half long study pushes back on previous research that claims online shopping to be better in terms of GHG footprints.</p><p style="margin-left: 20px;">"They have, however, compared the GHG emissions per shopping event and did not consider the link between the retail channels and the basket size, which leads to a different conclusion than that of the current study."</p><p>Online retail is where convenience trumps environment: people tend to order one item at a time when shopping on pure player sites, whereas they stock up on multiple items when visiting a store. Consumers will sometimes order a number of separate items over the course of a week rather than making one trip to purchase everything they need. </p><p>While greening efforts by online retailers are important, until a shift in consumer attitude changes, the current carbon footprint will be a hard obstacle to overcome. Amazon is trying to have it both ways—carbon-free and convenience addicted—and the math isn't adding up. If you need to order things, do it online, but try to consolidate your purchases as much as possible.</p><p>--</p><p><em>Stay in touch with Derek on <a href="http://www.twitter.com/derekberes" target="_blank">Twitter</a>, <a href="https://www.facebook.com/DerekBeresdotcom" target="_blank">Facebook</a> and <a href="https://derekberes.substack.com/" target="_blank">Substack</a>. His next book is</em> "<em>Hero's Dose: The Case For Psychedelics in Ritual and Therapy."</em></p>
Chronic irregular sleep in children was associated with psychotic experiences in adolescence, according to a recent study out of the University of Birmingham's School of Psychology.