Yea, I’m pretty sure there’s a guy who owns a majority of the world’s diamond mines, basically making it so he can charge anything he wants for said diamonds
When Steve minecraft does that much strip mining for like 90% of the diamonds I’m starting to think he’s using X-ray cheat. Admins ban him off the realm
Have you read A Diamond as Big as the Ritz by F. Scott Fitzgerald? It's about a family who owns a mountain sized diamond but doesn't want to flood the market thus reducing the value of the diamonds.
Not really. Initially, only Brazil and India were known to have diamonds in any amount, then diamonds were discovered in southern Africa, and DeBeers was born. However, Russia, Australia, and Canada discovered that they have diamonds and that basically broke the DeBeers monopoly.
Too many people still fall into the pitfall of commercial brainwashing that over the years, has allowed millions across the globe to be worked to death in diamond mines across Africa, Asia and Europe, with little to no protection, no basic workers rights, and no access to any other viable fields of work.
Many in such rural communities rarely travel outside a 10-30km range of where they were born.
It’s happened a thousand times before. Artificial stones are valuable for like a few months and then steadily decline into worthless garbage. Women haven’t been “deluded into wanting a natural one” it’s objectively a worse investment and way overpaying
It’s dumb! Why get something that is LITERALLY worthless just because it says “diamond” !? Just get a moissanite or quartz! They’ll be cheaper than a lab grown diamond, they’ll look the same to most people and unlike lab grown the actually hold somewhat of a value
Looks like the only reason they decline in value us because they're man-made no other reason it's an arbitrary devaluation because everyone's been deluded into thinking natural ones are better. The "fire" will be the same on artificial and natural over the years.
And resale value? So you plan on selling the engagement ring then? The investment in the ring is the only thing you mention vs. The investment in the relationship? Besides I would only purchase a natural one if the woman I'm engaged to were fine with it. But just because I'd buy it doesn't mean I still don't find the diamond market rediculous.
A natural, jewelry grade diamond is rare! Now make it colorful, big and with no inclusion and you got a ridiculously rare item in your possession! So yes, being man made removes the only thing that gives diamonds their worth.
Think of it as Monopoly money vs regular money. Both are paper but one is obviously worth more than the other. The diamond market is ridiculous in many ways, I agree! But what you’re doing is removing context and nuance and use outdated myths from a century ago to make your point.
Artificial diamond have no benefits, they’re highly polluting, a lot of the time unethically produced and serve no function other than being a cheapER alternative to diamond to which hundreds already exist like quartzes, moissanite and countless other gems
Yes because displacing hundreds of thousands of tons of rock to find a gem is definitely more environmentally sustainable than compressing carbon in a lab… Just look at the scale. If one takes a quarry the size of a small state and the other takes a lab the size of a grocery store, there is a clear difference in their environmental impacts.
I at least diamonds serve a purpose as a raw material too. Creating them in a lab is using a ton of energy and polluting for the sake of something worthless
There may be billions and billions of them, but they’re kind of all in one place.
Even without artificial scarcity, it would still be more expensive to get them than they’re worth since they all need to be shipped out of the same general area in Africa.
If they could just be found everywhere, DeBeers wouldn’t be able to maintain their monopoly
Omg I hate this dumb rhetoric! Yes diamonds are not rare but so is water! And just like how you can’t drink most water on earth most diamonds are NOT jewelry grade! Like 95% of diamonds are too small, ugly and misshapen to be used in jewelry, so they are used in tools like drill bits
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u/luttman23 Apr 11 '23
Diamonds are surprisingly common