NASA Cancels Plans to Visit $700 Quintillion Asteroid

While the notion of exploring space and tapping into its valuable resources sounds thrilling, at the end of the day, off-Earth mining is likely decades away from becoming a reality. [Outsider Club Header] Jul 19, 2023 by Luke Burgess for the Outsider Club NASA Cancels Plans to Visit $700 Quintillion Asteroid In future space missions, brave men and women will embark on thrilling adventures to asteroids, seeking to mine the incredible wealth of materials they carry through the vastness of space. But even with the most recent technological advances today, space mining will likely remain uneconomical for decades to come. [spacemining]Image Credit: Deep Space Industries Back in 2014, NASA made a decision to take a closer look at 16 Psyche, an enormous asteroid discovered in 1852. This mysterious space rock, which orbits between Mars and Jupiter, was believed to hold an astonishing $700 quintillion worth of valuable materials including iron, nickel, and gold. The mission to explore the asteroid was approved in 2017, and, after a delay, it was set to launch in October of this year. However, as NASA announced a few days ago, it has canceled its plans, deeming the asteroid "inaccessible." Although space mining doesn’t exist as an industry yet, the idea of mining in outer space has fascinated dreamers for over 100 years. The very first mention of mining asteroids in space comes from an obscure sci-fi novel from 1898 called Edison's Conquest of Mars, written by Garrett P. Serviss. The main characters in the story — which, yes, include the Thomas Edison — stumble upon aliens mining an asteroid made entirely of solid gold. Climate FAIL Means "Free" Cash for Americans Our government has pledged to install 500,000 new EV chargers nationwide as part of their "2030 climate goals"... But they’ve just realized they don’t have the resources to do so! As a result, the White House has been forced to pay a HUGE sum to a small clique of “special companies” — so they can get the job done on time. The only caveat? These special companies MUST share their profits with everyday Americans like you. If you know how to claim a slice of this bounty, you could make up to $34,200 in easy, passive income this year. [I’ll show you everything you need to know right here.]( The concept of space mining has since continued to inspire storytellers, from classic authors like Isaac Asimov and Richard Heinlein to modern writers like Andy Weir and James S. A. Corey. Hollywood films like Avatar and the Alien series have envisioned asteroid and moon mining as exciting plot devices, as have thousands of video games and other media. More recently, some have speculated that the idea of space mining could become a part of our future reality. Yet while the notion of exploring space and tapping into its valuable resources sounds thrilling, at the end of the day, off-Earth mining is likely decades away from becoming a reality. The most significant challenge is the economics. Launching missions beyond Earth is extremely expensive, and, as much as we have made progress in space technology and reduced launch costs, the expense of mining in space remains astronomical. Until very recently, the cost of sending just 1 pound of material into orbit exceeded $5,000. SpaceX’s website says it costs "as low as" $275,000 to put 50 kilograms into sun-synchronous orbit (SSO). [spacemining] And that’s a one-way trip that doesn’t get us anywhere near a minable asteroid. SSO is between 350 and 500 miles in altitude. The asteroid NASA was considering, 16 Psyche, is between 139 million and 214 million miles from the Earth, depending on the moment — and that’s considered a “near-Earth asteroid.” The New Emperor of Energy Storage You’re looking at the future of a $3.3 trillion industry. Thanks to this groundbreaking innovation, clean energy can be fed to the power grid 24/7... Regardless of whether the sun is shining or the wind is blowing. I call it the "Newton Battery," and it crushes every other battery on the market. The Swiss and the Saudis are already using it. And grids across the globe will be using this battery before we know it. It’s all possible thanks to one tiny company’s patented tech. The best part is that 99% of investors have no idea that it just went public... [Get in on the ground floor now, before it's too late.]( Then there are the human and labor costs to consider. Astronauts and space engineers with the expertise to conduct mining operations in space are highly limited. As of today, NASA only has a total of 41 “active” astronauts, all of whom would need to be trained to overcome the inevitable logistical hurdles that will come with mining in outer space. And that’s not to mention a manned space mining mission would take several years, compared with the average NASA mission, which lasts about six months. Who is going to want to leave the Earth for years to mine an asteroid? How much would you have to pay them? Who’s going to provide insurance for this venture? Moreover, who’s going to finance a space mining venture right now with ROI that’s guaranteed years to decades away? It cost NASA $50 million to build the Janus probes that were planned to be sent to 16 Psyche, and they were designed just to take a look! Don’t get me wrong — I do believe humans will be mining in space one day, but for now it’s clear that the dream of space mining remains a distant one. Despite recent reductions in launch prices, the economic realities of space mining suggest it will likely remain uneconomical for years to come. Until next time, [Luke Burgess Signature] Luke Burgess [icymi oc]( China Is Choking America's Tech Industry With Semiconductor Restrictions [chip-tiny]( China’s about to make the ongoing microchip shortage MUCH worse... By announcing export restrictions for two metals widely used in producing semiconductors: gallium and germanium. And industry experts suspect that curbs on rare earth metal exports could follow — another critical ingredient in semiconductors. “It’s clearly timed to send a not-so-subtle message to the Biden administration that China holds significant cards when it comes to the semiconductor, aerospace, and automobile industries,” says Paul Triolo, senior vice president of Albright Stonebridge. But soon, China will have no cards left up its sleeve as America brings chip production back home. The Department of Defense recently classified one tiny American semiconductor company as a “trusted supplier”... Because this company is the ONLY American company in existence that can manufacture semiconductors for our government, American businesses, and the American people. In short, this tiny company is the KEY to the U.S. taking back its technological independence from China. And this tiny company could return more than TSMC, Samsung, and UMC COMBINED. That’s why investors who get in on the ground floor of this small tech firm today could potentially earn nearly 100x their money! But you need to make your move quickly, because once the mainstream media catch wind of this company... The biggest gains will be gone. [Learn more about this American semiconductor supplier here.]( Follow the Outsiders [Twitter]( | [Facebook]( | [LinkedIn]( | [YouTube]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. 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