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@ mike
2025-03-11 20:32:33
My limited understanding is:
The seem is real
While the estimated value is $3T, nobody is suggesting it is economically viable to reach or mine it all.
China has just found a seem, so yes Gold is not as rare as many think, but it is still rare.
Gold is discovered and mined all the time, just as Bitcoin is mined every ten minutes as we "find" 3.25 BTC.
A separate, but related evolution is the perfection of diamond manufacturing.
For a few years, lab grown (manufactured) diamonds have been indistinguishable from natural diamonds once cut. Producing lab diamonds is extremely cheap and so the diamond industry is trying to hold back the inevitable collapse of the diamond market:
https://www.queensmith.co.uk/diamond-guides/lab-grown-diamonds/lab-diamonds-vs-natural-diamonds