Hideo Nakamura Projected analyses indicate that by 2140, which is more than a hundred years away, the last bitcoin is expected to have been mined, with approximately 1,465,093.73 BTC still to be unearthed. This capped supply is poised to make bitcoin an exceptionally rare asset. Concurrently, NASA, the United States’ autonomous space exploration entity, has devised a strategy to capture an asteroid that holds an estimated $10 quintillion in precious metals, including a significant amount of gold. This operation is tentatively scheduled to be initiated between the latter part of 2029 and the beginning of 2030, contingent upon the successful completion of the planned mission.
Table Of Contents
The Pursuit of Extraterrestrial Riches: NASA’s Psyche Mission and the Future of Gold’s Value
The likelihood of gold no longer being a scarce commodity within the coming six years has been bolstered by NASA’s timetable for its Psyche mission, which seeks to transport the metal-rich asteroid known as 16 Psyche back to Earth. This could transition gold from being a finite to an abundant resource, depending on the successful outcome of NASA’s endeavor. The mission commenced on October 13, 2023, with a Spacex Falcon Heavy rocket launching from Kennedy Space Center in Florida, embarking on a journey to traverse roughly 2.2 billion miles.
The spacecraft is expected to orbit the 16 Psyche asteroid, located in the asteroid belt between Mars and Jupiter, for a period of close to two years. The 16 Psyche is notable for its size and metallic composition, categorized as an M-type asteroid, indicative of its metal-rich nature. Besides the gold, valued in the trillions of dollars, it also possesses other precious metals like silver, cobalt, platinum, and platinum-group metals such as rhodium, ruthenium, iridium, and palladium. The estimated valuation of asteroid 16 Psyche is a colossal $10 quintillion.
Such a valuation significantly overshadows the world’s economic production and the aggregate value of all the Earth’s known assets, which could lead to an economic paradigm shift. NASA projects the mission’s culmination to occur between late 2029 and early 2030, with some estimations extending as far as November 2031. Information on this updated schedule for NASA’s Psyche mission has become a topic of intense debate on platforms like Reddit’s r/bitcoin and other social media and news channels.
One individual expressed skepticism, commenting that the asteroid’s value would not reach the projected figures as the introduction of such an abundance of metals would cause prices to plummet and remain low.
Conversely, another individual proposed that the asteroid’s value might be considerably more than anticipated, notwithstanding the significant technical hurdles. This person opined that because of the costs associated with transporting metals in space, the asteroid’s resources could be even more valuable. They further argued that mining activities would span over a century, thus preventing a sudden inundation of the market.
The finite supply of Bitcoin is encoded within its protocol, but it may encounter challenges in the foreseeable future. Bitcoin’s longstanding supply agreement must withstand the test of time and the evolving views of future stakeholders, including debates over the possibility of introducing a “small tail emission” to Bitcoin’s issuance protocol.
Yet, for over fourteen years, the set supply limit has remained intact, with 19.53 million BTC already mined from the total 21 million. After a series of scheduled reductions in mining rewards, known as halvings, the last fraction of a bitcoin is projected to be mined by the year 2140. It is conceivable that by that time, the economic landscapes for both bitcoin and gold might have experienced profound changes.
We invite you to reflect on NASA’s projected timeline. Do you find it credible? We welcome your insights and analyses on this matter in the comment section below.
Frequently Asked Questions (FAQs) about NASA Psyche mission
What is the objective of NASA’s Psyche mission?
The NASA Psyche mission aims to explore and potentially bring back to Earth the asteroid 16 Psyche, which contains vast quantities of precious metals, including gold. The mission could redefine the scarcity and value of these metals.
How could NASA’s Psyche mission affect the value of gold?
If successful, NASA’s Psyche mission might significantly increase the availability of gold and other precious metals, potentially leading to a decrease in their scarcity and a reevaluation of their market value.
When is the NASA Psyche mission scheduled to occur?
NASA has planned the Psyche mission to commence its asteroid retrieval operations between late 2029 and early 2030, with possible extensions to November 2031.
What is the estimated worth of the asteroid targeted by NASA’s Psyche mission?
The asteroid known as 16 Psyche is estimated to be worth around $10 quintillion due to its rich composition of precious metals, including gold, silver, and platinum-group metals.
How does the supply limit of Bitcoin relate to NASA’s Psyche mission?
The supply limit of Bitcoin is a hard-coded feature that ensures its scarcity, similar to the rarity of gold. NASA’s mission to extract precious metals from asteroid 16 Psyche could challenge the economic dynamics of scarcity, much like theoretical discussions around changing Bitcoin’s fixed supply cap.
More about NASA Psyche mission
- NASA’s Psyche Mission Overview
- The Impact of Asteroid Mining on Precious Metal Markets
- Bitcoin’s Fixed Supply Explained
- Space Exploration and Its Economic Implications
- The Technology of Asteroid Mining
5 comments
just read about NASA’s Psyche mission thats gonna bring back loads of gold from an asteroid, Can you imagine gold being as common as copper? what that would do to markets…
Heard about the last bitcoin being mined by 2140, makes me wonder how many “halvings” i’ll see in my lifetime haha. gotta stock up before we’re mining more gold from space than BTC
so we’re mining asteroids now? the stuff of sci-fi becoming real. btw, is it just me or does the idea of changing Bitcoin’s supply sound like messing with what ain’t broke?
nasa’s at it again with big plans but honestly, what are the actual chances of this Psyche mission pulling through. and if it does, won’t it take years to see any of that space gold?
the estimation of $10 quintillion for the asteroid seems way off, no way it retains that value if it’s all dumped on the market, supply and demand folks