112

Lab-grown diamonds have helped diamond prices plunge 60%, and former monopolist De Beers is in crisis mode. One day asteroid mining will do the same for gold. (hexbear.net)

submitted 6 days ago by RedWizard@hexbear.net to c/chapotraphouse@hexbear.net

36 comments fedilink hide all child comments

cross-posted from: https://futurology.today/post/5004513

Diamond prices are down 60% since a 2011 high, and they are still falling. It's not all down to lab-grown diamonds, demand is down too, especially in China.

No one can lab-grow gold yet, so its rarity and scarcity protect its value, but that will end too. It's just a question of when. China launched an asteroid touch-down mission this week, which will make it the 4th country/region to do so, after Europe, the US & Japan.

How soon will it be feasible to mine asteroids? Who knows, but a breakthrough in space propulsion might mean the prospect happens quickly when it does. It's possible gold has twenty years or less of being high value left.

The $80 Billion Diamond Market Crash Leaves De Beers Reeling

you are viewing a single comment's thread
view the rest of the comments

[-] mayo_cider@hexbear.net 17 points 6 days ago

I think we will see old landfills and wate disposal sites being literally mined for the old circuit boards we threw away over the past 50 years eventually. Theres so much useful stuff raw materials wise in old trash heaps. We just have to find better ways to process it. Which while not free to do is much cheaper than space mining lol.

exactly, its the same argument as with terraforming Mars

if we could make Mars habitable, we also could reverse climate change on Earth literally millions of years