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Artificial scarcity is like when you're DeBeers and you make sure that enough diamonds are locked up or not mined that your diamonds can be considered "rare" ev
by ravenstine 4y ago
Artificial scarcity is like when you're DeBeers and you make sure that enough diamonds are locked up or not mined that your diamonds can be considered "rare" even though they otherwise wouldn't.
Buying up a bunch of diamonds from DeBeers and reselling them isn't artificial scarcity. It's just scarcity that people don't like.
- m000 4y agoYes, but they're not buying "a bunch of tickets". They buy (almost) ALL of the tickets in a matter of minutes. If you could afford to buy ALL of the DeBeers stock, it would have a similar effect on the diamonds market: You could charge the poor sods that are desperate to get engaged ASAP 4x the price DeBeers charged.