The price of a diamond is one of the best and most successful marketing projects[1]. It was artificially built by De Beers. It was an invention. All the answers that people, especially women, give when asking about this jewelry have been carefully carved over the years.
But now that this cartel is dwindling[2], that new artificial inventions are being created[3] and that the looks of the media are closer to all violence involving diamond mining[4]. They are looking for a way to make more profit. Guess what that idea is ....
Blockchain.[5]
Yes, they want to create a blockchain. So they would have greater control and could strengthen the idea of scarcity.
[1] https://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/
[2] https://www.economist.com/news/international/21717369-production-worlds-most-valuable-gem-may-be-about-peak-report-de-beerss
[3] https://www.forbes.com/sites/pamdanziger/2017/09/02/diamonds-disrupted-how-man-made-diamonds-will-disrupt-the-mined-diamond-industry
[4] http://www.dailymail.co.uk/news/article-3040370/Torture-beatings-murder-Inside-new-brutal-blood-diamonds-scandal-fuelled-pure-greed-Africa-s-mines.html
[5] https://www.reuters.com/article/us-anglo-debeers-blockchain/de-beers-turns-to-blockchain-to-guarantee-diamond-purity-idUSKBN1F51HV
Topic: The diamond industry is a scam. Diamond has no intrinsic value. (Read 285 times)
I loll'ed at the man writing this piece about intrinsic value, having a DOGE address in his PM space.
OP, I agree with what you wrote--and I think pretty much everything that has value derives that value from perception and nothing more. "Value" is a human construct, and we could argue all day long about this or that having or not having "intrinsic value". Certainly bitcoin doesn't have any if you compare it to assets like silver or diamonds. And that's how I see it, and you might have a differing opinion.
I never had any interest in diamond investing. The chemistry behind it is somewhat interesting to me, but how they're procured and marketed has always shkeeved me out.
OP, I agree with what you wrote--and I think pretty much everything that has value derives that value from perception and nothing more. "Value" is a human construct, and we could argue all day long about this or that having or not having "intrinsic value". Certainly bitcoin doesn't have any if you compare it to assets like silver or diamonds. And that's how I see it, and you might have a differing opinion.
I never had any interest in diamond investing. The chemistry behind it is somewhat interesting to me, but how they're procured and marketed has always shkeeved me out.
diamond has a very high selling value but some things that cause berlianbukanlah type of investment is most profitable though in terms of price is quite expensive but diamond has a relatively stable price, it will not give high results like investment instruments in the world of crypto. In addition, some things to watch out for from diamonds is a form that can be manipulated due to the falsification of diamonds.
The actual value of the diamond is far too high, and the diamond is not as recognizable as gold and easy to measure. Diamonds are just a carbide!
Diamonds are not widely used in industry, and diamonds are easy to replace and artificial to produce.
Diamonds are not widely used in industry, and diamonds are easy to replace and artificial to produce.
This is what happens when a certain family holds a monopoly over the diamond market , they artificially kept the price up for years. While marketing diamond as the most valuable stone around , also the thing that a engagement ring must cost 3 months of salary comes from them. But with the free information and people actually informing themselves we can hope this is over soon.
Diamond's hype is clearly over its rareness in nature. And also on the fact that it is made of the same carbon which is available everywhere, and inly one bond (chemistry) less than the graphite used in the pencil tip used to write. These things make it so special. Also being the toughest item in the world, it attracts attention. And the design of it, without even being touched by human hands, is so spectacular and creates total internal reflection phenomenon to provide that glare which it is famous for.
Definetely its over hyped, but the asthetics are very much pleasing to eyes and a good one to show off.
Diamonds are not rare that is the whole point there is a company with a huge monopoly of the diamond market, diamonds have some uses as the natural strongest substance on earth they could be used in different industries but now we have found a way to create them without the need to mine them, so the only use for diamonds is for jewelry but there are enough diamonds on earth for all the people around the world to have several diamond rings but the company that has a monopoly on it will never allow that, there is a fortune to be made selling shiny things to dump people. Definetely its over hyped, but the asthetics are very much pleasing to eyes and a good one to show off.
In my own opinion, I don't think it is, I still believe in diamond, atleast the natural ones though. There may be fakes ones out there but atleast when one get the original ones, the value is still worth it. Its a matter of knowing the difference between the two. And no matter how cryptocurrency is taking over, Diamomds will still be among the most treasured value all over the world.
I agree. Diamonds that are synthetically produced can be differentiated from diamonds that are naturally produced.
The rareness of diamonds are what give them a good markup, but then after that, they're priced high for the same reason that pokemon cards are priced higher than a piece of printed paper: demand.
It's a tradition all over the world to buy your loved one a diamond ring for marriage or some kind of anniversay or something. That's a tradition that's not changing. That means everyone who gets married will buy some kind of diamond for their partner. And they'll buy another diamond for their anniversary(s).
It's just like pokemon cards. As long as people keep buying them. They're going to keep becoming expensive.
YES!!! Exactly my point.
The value of diamond isn't to do with their rareness (since they can now be synthesized), but has more to do with something that is akin with pokemon cards.
E.g. people are paying a large sum of money for the unique subtle defects within naturally mined diamonds (which can also be imitated in the lab, but this is regulated by the industry. e.g. it is illegal to sell lab-manufactured diamonds as jewellery diamond), and not for the diamond itself (which now isn't "rare" realistically).
I am contrasting this with cryptocurrencies -- where many cryptos actually have real-world use cases (e.g Stellar, EOS, Cardano, VeChain, etc), above just being a "store of value".
I know you are simply thinking that you can just convert Carbon to make the real diamond, but that is not possible currently and if in the future it becomes possible diamond will lose its value automatically. As it works on the principle of low production and high demand which makes it one of the rarest particle same like we see in Bitcoin. Bitcoin has sharp increasing price because of the fact of limited supply and high demand.
Nopes, it is actually pretty easy to compress carbon (graphite) under the correct conditions into highly covalently bonded diamond. I work as a scientific researcher and I had been to labs with the necessary equipment to provide the needed compression to convert graphite into industrial diamond (which essentially is the same as jewellery diamonds save for one key aspect)
Many of the posts missed the point of how the Diamond industry argues for the value of diamond, which is the defects intrinsic to naturally mined diamond, which IMO is kinda BS.
Its more about marketing/branding by the diamond industry to cope with the scientific advancement than anything.
LOL, funny. I was thinking you’re serious with saying that diamonds has no value. Apart from Gold and Silver, I think the next thing you will find is Diamond and they are highly valued than most commodities. So it has a value.
Diamond is a valuable asset if you use that not an essential product I think, ticky cryptocurrency used as a currency and it's deserve a market value like other paper currencies.
Uuhm… I don’t think it has the same value as paper currencies. I always believe that paper has more value than any commodity or stock and any other thing you can find in the market. Reason I’m saying this is because they are more accepted than any other thing or form of money. In my own opinion, I don't think it is, I still believe in diamond, atleast the natural ones though. There may be fakes ones out there but atleast when one get the original ones, the value is still worth it. Its a matter of knowing the difference between the two. And no matter how cryptocurrency is taking over, Diamomds will still be among the most treasured value all over the world.
I agree. Diamonds that are synthetically produced can be differentiated from diamonds that are naturally produced.
The rareness of diamonds are what give them a good markup, but then after that, they're priced high for the same reason that pokemon cards are priced higher than a piece of printed paper: demand.
It's a tradition all over the world to buy your loved one a diamond ring for marriage or some kind of anniversay or something. That's a tradition that's not changing. That means everyone who gets married will buy some kind of diamond for their partner. And they'll buy another diamond for their anniversary(s).
It's just like pokemon cards. As long as people keep buying them. They're going to keep becoming expensive.
Diamonds .. and how does gold differ from them? Yes, nothing. Just when that thick wallets so decided and all. The less the resource becomes, the more expensive it is to everyone.
I know you are simply thinking that you can just convert Carbon to make the real diamond, but that is not possible currently and if in the future it becomes possible diamond will lose its value automatically. As it works on the principle of low production and high demand which makes it one of the rarest particle same like we see in Bitcoin. Bitcoin has sharp increasing price because of the fact of limited supply and high demand.
I have watched it also before that diamond really has no intrinsic value those who made the diamond ring just manipulated the people by endorsing it as a women's best friend so that woman will love it much and that the man can force to buy diamond as they thought that it has value.
I think wrong lowering the dignity of the diamonds as they are decorations but I agree that prices are inflated and it's the best tool for investment. But as I said many people want diamonds and the more rare diamonds that are purchased for tens of millions of dollars.
It is uncommon but as many people have already kept saying, it was vastly overvalued. I'd have no problems with that if it were not for the fact that this trade has soaked the land with blood. The income from these diamonds allow warlords to stay in power and oppress the people.
That said, I doubt that prices would fall that fast though there seem to be more people challenging the "expected" uses. I'm hearing more couples opting for a simpler band over a diamond engagement ring (which is wise considering it practically have no resale value).
Give them a run for their money.
That said, I doubt that prices would fall that fast though there seem to be more people challenging the "expected" uses. I'm hearing more couples opting for a simpler band over a diamond engagement ring (which is wise considering it practically have no resale value).
De Beers (the South African consortium that controls the diamon industry) is getting concerned about all the artificial diamonds coming out of China:
http://www.scmp.com/business/companies/article/2076225/de-beers-fights-fakes-technology-chinas-lab-grown-diamonds
http://www.scmp.com/business/companies/article/2076225/de-beers-fights-fakes-technology-chinas-lab-grown-diamonds
Quote
The arrival of lab-grown diamonds has challenged the widely-held assumption that diamond prices could only go up
The spread of synthetic diamonds in China, originally designed for industrial purposes such as oil drilling, is posing such a threat to the global diamond market that it has forced dominant player De Beers to invest tens of millions of dollars on methods to identify the man-made stones that look exactly like the real thing.
The spread of synthetic diamonds in China, originally designed for industrial purposes such as oil drilling, is posing such a threat to the global diamond market that it has forced dominant player De Beers to invest tens of millions of dollars on methods to identify the man-made stones that look exactly like the real thing.
Give them a run for their money.
Its intrinsic value derives from its rarity. It is a precious stone and it is the hardest among all stones.
De Beers (the South African consortium that controls the diamon industry) is getting concerned about all the artificial diamonds coming out of China:
http://www.scmp.com/business/companies/article/2076225/de-beers-fights-fakes-technology-chinas-lab-grown-diamonds
http://www.scmp.com/business/companies/article/2076225/de-beers-fights-fakes-technology-chinas-lab-grown-diamonds
Quote
The arrival of lab-grown diamonds has challenged the widely-held assumption that diamond prices could only go up
The spread of synthetic diamonds in China, originally designed for industrial purposes such as oil drilling, is posing such a threat to the global diamond market that it has forced dominant player De Beers to invest tens of millions of dollars on methods to identify the man-made stones that look exactly like the real thing.
The spread of synthetic diamonds in China, originally designed for industrial purposes such as oil drilling, is posing such a threat to the global diamond market that it has forced dominant player De Beers to invest tens of millions of dollars on methods to identify the man-made stones that look exactly like the real thing.
Diamond have the expensive value in the world, it will be not scam and will be expensive more than the bitcoin value, ever time the diamond price always and all of people will buy the diamond how ever the diamond price, they are never mind the diamond is expensive they will buy it, but now it have difficult to looking for the diamond and buy it for our self.
In the end, diamonds are just a ritual that humans create to prove the value of something. There are a lot of things like that. For example, a luxury car, such as a name bag, for example, a diamond is only very cheap.
Bitcoin is a brand new thing. Like the Internet, bitcoin has a whole new layer of underlying technology, operating principles and applications. Masonry can only be a joke.
Bitcoin is a brand new thing. Like the Internet, bitcoin has a whole new layer of underlying technology, operating principles and applications. Masonry can only be a joke.
In my own opinion, I don't think it is, I still believe in diamond, atleast the natural ones though. There may be fakes ones out there but atleast when one get the original ones, the value is still worth it. Its a matter of knowing the difference between the two. And no matter how cryptocurrency is taking over, Diamomds will still be among the most treasured value all over the world.
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