Bottom falls out on commodity made artifically rare through imperailism and corruption. Is this the part where I’m supposed to feel bad for De Beers?
To be fair, diamonds are indeed rare on earth. But what made diamond price come crashing is because we now managed to synthesise the diamonds. These “fake” diamonds flooded the market. This is good news so that we don’t have to rely on exploitative extraction of the mineral.
Also because newer generations just aren’t sold on diamonds being a luxury item anymore. Your average Joe just isn’t paying their rent or more on a diamond engagement/wedding ring like they used to because, well, that’s their rent payment or mortgage for something that’s gonna lose value the second they walk out of the store.
They’re not especially rare, not even gem-quality ones. For several generations, almost every married woman in a western country had a diamond on her finger of some size. They found plenty of them to serve that market. The mines created artificial scarcity by colluding together.
If lab grown had never happened, diamond mines might not have been able to serve industrial customers. Industrial customers don’t care how it looks as long as it cuts, and so lab grown has been good enough for decades. Thus, you can get a two-pack 4.5 inch diamond angle grinder wheel at Home Depot for around twenty bucks.
The free market manages to solve a problem.
I wonder how much money it’s going to cost the diamond lobby to un-solve it.
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It’s clearly beginning of an end for diamond mining.
In the land of ever increasing red line, any stagnation is bad, any drop is catastrophic.
Good. Hope the whole industry goes bust.
I’d buy more diamonds, but I spent all my money on avocado toast.
Finally, rocks might be worth what rocks are worth.
I bet there still over priced.
No, I bet they are.
My wife is wears a .45 carat moissanite on her engagement ring. The stone cost 80 euros three years ago.
I’d like to see new uses for diamonds that take advantage of their material properties. For example, the thermal conductivity of diamonds is very high.
Industrial diamonds have always been on the cheap and that industry is far removed from the jewelry/gem industry, in fact a large majority of diamonds that are mined aren’t gem grade, they’re industrial grade. It’s been growing and advancing despite the jewelry/gem market starting to fall.
Diamond thermal paste is out there. It’s okay, but like most thermal paste (besides liquid metal, which has its own issues), it doesn’t give extraordinary results over anything else. People tend to really overthink thermal paste; it’s going to give you maybe 4 extra degrees C, and that’s already pushing it.
Graphene is an even better thermal conductor, and heat pipes are tons better than either. There’s some work out there on enhancing heat pipes with graphene.
and their hardness makes them useful in all saw-blades or drill-bits
We’d much rather spend money on fabulous vacations or boring mortgages.
Nothing says “I love you” like a detonation nanodiamond
Come crashing down
Crashing down
I wish.
Diamond coin! With a hologram of Trump doing Queen Victoria
Thank goodness, maybe I’ll finally be able to buy a diamond pickaxe for what few emeralds I have. I’ve been having to use stone tools in this economy and I’d really like some obsidian for a nether portal.
if you want to go to hell, just wait.
I’d really like some obsidian for a nether portal.
Water and lava buckets, you peasent
They said they were using stone tools. You think they’d have spare iron lying around for a bucket?
Name checks out…
Good. Fuck rich people.
Lab-grown rocks
When I was getting married a few years ago, I remember thinking fuck real diamonds lab-grown are literally the same thing. I remember getting some push back from some weirdos about how “real” diamonds are some how better or how people will think I’m a cheapskate or how people will feel bad for my wife…
Well, fast forward a few years and literally nobody cares, thinks about, or has said anything negative about my wife’s ring. We are both 1000000% happy and satisfied with the decision to buy lab grown.
I’ve unfortunately lost my wedding ring in palladium. My wife is planning to offer me a new one but this time I want a steel ring made by a local jeweler.
Not because it is cheaper but because I am using my money in the right place.
Precious metal/stones is a social flex saying “Look ! I can afford the labor of X African slaves that have worked in the mine to extract this mineral” (plus the ecological impact of mining)
I’d rather spend money to buy the labor of a local artisan than buy African slave labor through a myriad of intermediaries
We said fuck diamonds entirely, even lab grown, and even had to go out of our way to find something that didnt have diamonds on it somehow
I got us bare tungsten carbide bands. If “Diamonds are forever”, then tungsten carbide is 9.5/10ths of forever, and it’s the whole band instead of just a small easily-detachable part of it. More practically, it won’t get beat to hell like the white gold ring from my first marriage. Plus, if I ever need a really strong connector for jury-rigging something, I’m now carrying one with me at all times!
Tc won’t scratch, but it is brittle though.
So are diamonds, but hey - don’t pollute my symbol with your facts! As far as romance is concerned, hardness == durability, end of story :P
Fucking noice, dude. 👏 Honestly, yeah, why even diamonds. They brainwashed us good.
Women love diamonds for their wide range of industrial applications.
Like making pickaxes and mining obsidian?
it’s actually a quote from Portal, or marketing material thereof.
Mostly because they dont get scratched. Theyre pretty neat. Not blood diamonds though, those are a crime against humanity.
When it’s time for children I recommend lab grown as well!
fuck children too
username checks out.
Username checks out
please don’t
Why don’t you have a seat right over here.
We decided on some cheap silver rings. We really didn’t want to carry around something extremely valuable everywhere. Go swimming and lose 5000€ in the lake? Do some yard work and lose your diamond ring there? Getting mugged and the robber is getting something really expensive? No, thank you.
Expensive wedding rings & jewelery did make sense in the past when women were not allowed their own money, bank accounts etc. as a way to escape an abusive husband. Pawn your expensive wedding ring, get cash for the getaway. But we’re not living in the 50s, my wife has her own bank account, is earning her own money, so no need for something like that.
We did the same. Some silver bands from a local artist.
Paid off when one was lost. The artist was still available for a new order.
We decided on some cheap silver rings. We really didn’t want to carry around something extremely valuable everywhere. Go swimming and lose 5000€ in the lake? Do some yard work and lose your diamond ring there? Getting mugged and the robber is getting something really expensive? No, thank you.
Yeah, on a similar note it is really nice to finally have a new phone, but I’ll miss the fact that losing my old phone would only set me back $50.
