Breaking the old-age consensus via technology.

[diagem]

Sotheby’s: "This is a truly symbolic moment. The most ancient and emblematic denominator of value can now, for the first time, be purchased using humanity’s newest universal currency."

https://www.thediamondloupe.com/tec...-breakthrough-101-carat-flawless-diamond-sold

 

[Garry H (Cut Nut)]

For the first time in history no one can track the laundering of money and all the governments responses to stop it are useless.
Hackers hack and get paid millins of dollars in crypto currencies.
The only way out is for governments to make these things illegal - track down the computers that are consuming whole cities worth of power polluting the earth.
AND
Create their own efficient fiat crypto monies, thereby removing all the ridiculous fees paid to credit card companies that make billions a year and cost us all a lot of money - consider that every time you use your CC they make 1 to 3% of your purchase - this can be 0.00001% using fiat crypto sound non speculative government backed money.

 

[ksluice]

Create their own efficient fiat crypto monies, thereby removing all the ridiculous fees paid to credit card companies that make billions a year and cost us all a lot of money - consider that every time you use your CC they make 1 to 3% of your purchase - this can be 0.00001% using fiat crypto sound non speculative government backed money.

A smarter than me friend offered this very explanation for why crypto was no place for the average investor. He offered that this was inevitable and in the pipeline, just a matter of when it happened.

 

[diagem]

I cant say I am a knowledgeable about the subject at large but had to share this superb tweet.

 

[Dr_Diesel]

A smarter than me friend offered this very explanation for why crypto was no place for the average investor. He offered that this was inevitable and in the pipeline, just a matter of when it happened.

Another glaringly obvious problem with crypto-as-currency is that, because it is unregulated, it is extremely volatile - perhaps the last quality anyone would ever want in a currency.

If I have $10k in cash, I feel reasonably confident it will be worth around $10 next month and the month after.

…and then there is the very problem inherent to my statement. I’m unreflectvrly still thinking of crypto in terms of its dollar-value.

…and if it were to be regulated, how exactly would that be different from using dollars?

please forgive my ignorance on the topic. Still trying to wrap my head around it.

 

[diagem]

I suppose I would prefer a physical 100ct D-IF natural diamond over $12,500,000.- in crypto..., maybe its my old way of thinking...

especially after recent years sales that started at $30,000,000.-+ and deteriorated to this point. (four different 100ct diamonds were sold at auctions in the last few years at these down spiraling ranges).

 

[Dr_Diesel]

I suppose I would prefer a physical 100ct D-IF natural diamond over $12,500,000.- in crypto..., maybe its my old way of thinking...

especially after recent years sales that started at $30,000,000.-+ and deteriorated to this point. (four different 100ct diamonds were sold at auctions in the last few years at these down spiraling ranges).

I’m on the same page, my friend

 

[ksluice]

My impression of those into crypto is that they think they’ve got the markets figured out and so crypto’s volatility is exactly the attraction? To me that is dangerously bad logic, but one thing I’ve realized about me and diamonds is that there is no logic that will justify the purchase of any of the diamonds that make my heart skip a beat. So, I‘m 100% on the same page of preferring a 100+ ct D-IF diamond to the 12 mill in crypto, but I can’t say it‘s the more logical position.

 

[Rockdiamond]

I suppose I would prefer a physical 100ct D-IF natural diamond over $12,500,000.- in crypto..., maybe its my old way of thinking...

especially after recent years sales that started at $30,000,000.-+ and deteriorated to this point. (four different 100ct diamonds were sold at auctions in the last few years at these down spiraling ranges).

What about 1000 x 1ct D/IF Earth Mined diamonds?
Easier to liquidate, no?

 

[diagem]

What about 1000 x 1ct D/IF Earth Mined diamonds?
Easier to liquidate, no?

Ironically it might even bring in more...., lets talk diamond rarity?