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The price of meteorites is severely undervalued


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Meteorites are very rare. About 20 tons of meteorites fall to Earth each year, yet most of the meteorites fall into the ocean or no-man's land. The number of meteorites that can be found by humans is very small. The world's annual diamond production is also 20 tons. Meteorites are obviously more rare than diamonds. So why meteorites are far less than the price of diamonds?
Every diamond in the world that is going to trade has at least one diamond certificate. And no meteorite in the world is with meteorite identification certificate. As most people do not have the ability to identify meteorites, which led to the vast majority of people in the world are not involved in meteorite transactions. The price of any commodity is determined by supply and demand. Although meteorites are rare, there are fewer people who dare to buy meteorites that without an accreditation certificate. So meteorite although rare, but the price is not expensive. However, due to the protection of diamonds with a diamond certificate, anyone who does not know the diamond can participate in the diamond trade. So the demand for diamonds is far greater than the demand for meteorites. So the price of diamonds is far greater than the meteorite. Another reason is the high transaction cost of meteorites, the current meteorite transactions in the world mainly in ebay, ebay charge 10% transaction costs, plus paypal fees, transportation costs and other transaction costs, each transaction The cost will be above 15%. Such a high transaction costs seriously hindered the meteorite trade. For the above reasons, the price of meteorites is seriously underestimated.
As the meteorite supply is very stable, and can not be forged. These two features should have made meteorites an excellent investment product. But the truth is that very few people in the world buy meteorites for their investment needs. Why is this? We can imagine have such a stock. This stock does not have accounting firm financial reports, there is no professional stock exchange to review their qualifications.Only the holder of the stock declared the stock to be valuable and are sold on online stores like ebay or Amazon, and the cost of sales is up to 15% or more each time. Do you think such stocks will be bought? if you buy such a stock, do you think you can sell it quickly?
although meteorites are very rare, but meteorites do not have identification certificate,people will not buy a meteorite without a certificate . Due to the current meteorite trading model, also there is no one buy meteorite as an investment product. Therefore, the price of meteorites is seriously underestimated it is not surprising. For meteorite prices to return to normal, meteorite transactions must establish a trading system similar to the stock exchange market. Make it as fast and cheap as stock trading.
Fortunately blockchain technology is the perfect solution to any dilemma in meteorite trading. The biggest dilemma of meteorite transactions is that no one can establish trust between people, and blockchain technology can perfectly solve this problem, and let each transaction costs dropped below 1%. Blockchain technology can make bitcoin a currency of more than $ 10,000, this effectively demonstrating the power of blockchain technology. Blockchain technology can make bitcoin that such a man-made "information" so valuable, then meteorite this natural given the rare items? I think if you follow the following pattern to introduce blockchain technology into a meteorite trade, the price of the meteorite will surely match the diamond.
The idea is as follows:
1. Set up a Meteorite exchange similar to a stock (or bitcoin-like) exchange.
2. Customers who plan to sell meteorites mail the meteorite to the meteorite exchange.
3. As there is no meteorite classification and identification standard suitable for meteorite transactions in the world at present, the meteorite exchange can set up a meteorite identification and rating system according to its own ideas, just like the 4C standard of diamonds. And make it public on their website.
4. Meteorite Exchange hired or commissioned individuals or institutions based on their published meteorite identification and grading standards to Identify and grade meteorites. This process is similar to the stock before the listing, listed companies need to hired financial companies in accordance with the provisions of the stock exchange to audit their financial.
5.Meteorite Exchange Promulgates a meteorite identification certificate to a meteorite that meets the standards and publishes it on its website. The meteorite certificate should specify the basis and process of the meteorite identification, and publicize the details of the appraiser or accreditation body. In order to facilitate the subsequent bear the corresponding legal responsibility.
6. Create a  meteorite electronic trading platform that similar stock trading , and the use of blockchain technology, the use of  meteorite electronic certificate trading. Blockchain technology makes meteorites as fast, safe and cheap as stock trading. Blockchain can greatly reduce the cost and complexity of meteorite transactions.
The heart of the blockchain network is the concept of shared, unalterable ledger. This ledger records all transactions that take place on the Meteorite Trading Platform so that each meteorite transaction can be recorded and an exact copy of the record distributed to all members of the network and encrypted so that it can not be changed. In this way a true single shared copy will be created, which increases the meteorite credit as transactions increase. The sooner the supplier of blockchain technology join earlier meteorite trades is bound to accumulate higher credit. Blockchain technology let at present only meteorite experts can participate in the transaction to become trades that anyone in the world can participate in.
7. After the transaction is successful, the transaction platform collects the transaction fee and meteorite identification fee. If the person buying the meteorite is willing to continue the transaction, he can keep the meteorite on the trading platform and use the e-Cert to continue the transaction. Meteorites trade fairs are as fast and cheap as stock trading.
8. As each meteorite has a unique weight, volume, shape and external pattern, so published in the Internet meteorite electronic identification certificate can not be forged. Use e-Cert  to trading meteorite , will like buying and selling stocks as fast and cheap.
Blockchain technology can benefit all parties involved in meteorite transactions.
For Meteorite dealer
The introduction of blockchain technology into meteorite sales will surely benefit meteorite dealers. Like 10 years ago,The first batch meteorite dealers selling meteorites using ebay were successful, and greatly promoted the meteorite trade. At present, who can take the lead in using block-link technology to sell meteorites, will inevitably achieve greater success.
For Meteorite collector
The reason why the price of meteorites is seriously underestimated is the mistrust of both parties in the transaction, resulting in high transaction costs and slow transactions. Blockchain technology can be the cornerstone of trust. Blockchain technology to introduce meteorite transactions will surely allow meteorites to trade as fast and cheap as stock trading, which will certainly enhance the value of meteorites. Those who hold the meteorite will benefit from the increase in the value of meteorites.
For Blockchain technology providers
Blockchain technology is bound to be applied to all aspects of commerce. The introduction of blockchain technology in meteorite transactions is an inevitable event. So companies that have blockchain technology can garner huge profits from servicing meteorites. There are huge groups of meteorite enthusiasts around the world, so the companies that provide blockchain technology can garner tremendous attention. This is a huge free ad, promotion to their technology into other industries.
For Meteorite identification experts
If use blockchain technology to trade meteorites, each meteorite must obtain meteorite identification certificate. This provides great employment opportunities for those who have meteorite identification capabilities.
For Investors
Anything suitable for investment must have a characteristic that it can not be artificially mass produced in a short period of time. Meteorites have such characteristics. The supply of meteorites is very stable and can not be forged. This is an excellent investment product.
The reason why meteorites are not widely accepted as an investment product is because the transaction cost of meteorites is high and slow. The introduction of blockchain technology allows meteorite transactions to be as cheap and fast as stock trading. This adds a new investment option to investors around the world. More able to dispersion their investment risk. Any professional investment experts should be able to see that the blockchain technology into meteorite transactions, the meteorite will become a perfect investment tool.
Blockchain technology has proven to be a great invention that allows people who do not trust each other to quickly build trust and get deals done quickly. The credit problem is the key to business.Blockchain technology has a large potential to transform business operating models in the long term. Blockchain distributed ledger technology is more a foundational technology—with the potential to create new foundations for global economic and social systems—than a disruptive technology, which typically "attack a traditional business model with a lower-cost solution and overtake incumbent firms quickly". The success of Bitcoin has proved irrefutable evidence of the power of blockchain technology. It is no longer necessary to discuss whether blockchain technology is a mature and reliable technology, but to explore how to quickly promote it to areas other than finance. It happened that the U.S. House of Representatives once again convened a blockchain hearing on February 14, 2018 (Valentine's Day) at 10 am This time attending the hearing were two subcommittees of the U.S. Science, Space and Technology Commission , The theme of the hearing is: "Beyond Bitcoin: Emerging Applications for Blockchain Technology."
The purpose of the hearing is to hope that through this hearing will gain the legislative and investigative powers of action in the area of chain technology applications. At the hearing, Wal-Mart, IBM, and NIST delivered speeches respectively explaining the current application of the blockchain technology in their respective fields, the functions they have and the expected future application, and made a series of recommendations to Congress including the regulatory policies. The following is a briefing on this hearing by the U.S. House of Representatives.

"WASHINGTON - Congressman Ralph Abraham, M.D., R-Alto and chairman of the House Science, Space and Technology Oversight Subcommittee, held a hearing Wednesday to examine issues surrounding the use of blockchain technology.

Though most commonly associated with the cryptocurrency Bitcoin, blockchain technology has proven to have broad potential to help businesses improve efficiency, generate savings and enhance security. For example, a grocery store chain can use it to track produce throughout its journey from a farm to a customer's table.

Dr. Abraham, who chaired his first Oversight Subcommittee today, focused his questioning on how blockchain users would ensure that food security would be maintained and enhanced if the system was implemented.

"Blockchain technology has a lot of potential to streamline systems, making them more efficient and cost effective. Today's hearing was an important step to make sure we remain on the forefront of this emerging technology so that we can better assess threats and prevent security breaches, particularly when it comes to food security. I thank the witnesses for testifying today and look forward to continuing to examine this issue," Dr. Abraham said.

Witnesses included Frank Yiannas, vice president of food security for Walmart; Chris Jaikaran, a cybersecurity analyst with the Congressional Research Service; Charles Romine, director of a research lab within the National Institute of Standards and Technology (NIST); and Gennaro "Jerry" Cuomo, an IBM fellow."
The consensus among regulators, official think tanks and business leaders largely means that a "U.S. consensus" on the massive use of blockchain technology is taking shape.  Its connotations include "embracing technology, staying open, being prepared for business and government operations, and educating investors and consumers "Wait.

According to Christian Molinase at Massachusetts Institute of Technology, said "the value comes from consensus" . The wisest people on this planet have reached a consensus that blockchain technology is the future of the Internet. If meteorite collectors, meteorite distributors, meteorite experts, blockchain developers, capital investors can reach a consensus, the blockchain technology into the meteorite transaction, then all involved in the meteorite deal will be obtained a huge benefit.

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It's ideas like this that make millions. I like it... and in the supply chain work blockchain is the next IoT!!!

Sounds good, oh and why specifically diamonds are more... Some guy like yourself thought of the idea and invested A LOT of time and money into marketing and took it to Hollywood. Made it so that you could not show a women true love without a diamond... 

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I think you're onto something, although I was quite skeptical at first.  I'm honestly not sure its right for meteorites, but I can see how you replace meteorite with "Commodity X" or "Widget" and you could have a success on that.  I don't have faith in cryptocurrency or bitcoins.  Ten new cryptocurrencies are created each day, but nothing really backs these things up.  There is a lot of info out there about Bitcoin, but nothing really backs this up.  A dollar is nothing more than a green piece of paper; that green piece of paper, however, has the full faith of the United states Government behind it.  No matter what we think if the USG, we all get paid in dollars (except those working in or for foreign corporations) so that faith is quite considerable.

There's probably certain niche markets where blockchain technology would work.  These niche markets would have to be international or transnational in nature, and would need to benefit from having a need to not spend the US dollar.  I unfortunately can't think of any legal thing that would benefit from block chain technology, only stuff you want to hide from the government but need to move large amounts of money.  To me "leveling up," awards, or prizes on a video game has more "real value" and work that goes into than a single Bitcoin, but the bitcoin is worth far more in currency.  Bitcoin is nothing more than speculation and for the life of me I can't figure out why its worth anything, but I almost invested in it when it peaked.  I could of afforded for less than a coin, maybe a Sato.

If Block chain is Bitcoin or vice versa, it is not backed by any amount of hard work or real product or wealth being created.  A meteor exchange may work, but millions of times the people would rather use dollars than use blockchains. 

20 tons of diamonds are pretty and excites everyone.  20 tons of metors is interesting, but only to a few beyond this forum.  Precious Gems versus collectible rocks.

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14 hours ago, chrisski said:

...There is a lot of info out there about Bitcoin, but nothing really backs this up...

...If Block chain is Bitcoin or vice versa, it is not backed by any amount of hard work or real product or wealth being created...

This is one of the common misconceptions about Bitcoin and blockchain technology.  It is specifically the fact that it is decentralized, i.e. has "no backing", that makes it such a revolutionary technology.  I have very little faith in any government, how many have stood the test of time?  Zero.  Something that stands on it's own and is far more attractive.  Andreas Antonopoulos calls bitcoing "the internet of money" because it (or more specifically, blockchain tech) is going to do to monetary systems what the internet did for information exchange.  There's probably a way to work meteorites in there somehow.

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9 hours ago, Mikestang said:

This is one of the common misconceptions about Bitcoin and blockchain technology.  It is specifically the fact that it is decentralized, i.e. has "no backing", that makes it such a revolutionary technology.  I have very little faith in any government, how many have stood the test of time?  Zero.  Something that stands on it's own and is far more attractive.  Andreas Antonopoulos calls bitcoing "the internet of money" because it (or more specifically, blockchain tech) is going to do to monetary systems what the internet did for information exchange.  There's probably a way to work meteorites in there somehow.

What can I use cryptocurrency for?  Who accepts it? 

I do believe cryopto currency will be the future, but there are literally ten different currencies introduced Daily. I just don't think that the cypto currency future is any time soon.  I see things that could rapidly accelerate that future like runaway inflation or a huge shortage of cash.  In a country like Venezuela with runaway inflation and having to wait in line for hours to get a day's worth of cash for groceries, a crypto currency would be great to counteract the governments mistakes.  

If that happened here in the US, than the crypto currency would probably be the demise of the dollar. We could be closer to that than we think.  Maybe those who believe the government needs to balance the budget are correct and they can't keep printing their own money and increasing debt forever.  Some people think we're on a tipping point for that.  Others, believe we've been way past that tipping point for years.

I truly want to understand why it went from about a dollar to Well in excess of $10k in a few years.  I just can't find that explained anywhere.  With the price going up and up, I have got to be wrong, but I can't see where I am.

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