Bitcoin Forum

Please does bitcoin ever have the potential to be as worthy or even worth more than diamonds?

Absolutely I believe it will one day. Remember the only thing giving value to diamonds is us... Nothing or noone else. We can do the same for bitcoin. We must decide its value. I believe. Bitcoin is headed exactly there... To the moon.

The price range for 1 carat diamonds is between $3,080 and $26,950 per carat and Bitcoin now is already on 7K USD so we can now say that bitcoin has a potential to worth even more than diamonds in the future.

You don't actually pay for the diamond being a diamond—you are paying for the tedious tasks accompanied on extracting the precious stone from beneath the Earth's surface and its limited availability as well. Same as bitcoin. You are paying for the output after an algorithm is completed which requires massive amount of computing power and energy, so if I were to ask the same question, yes, bitcoin has already matched a diamond in terms of value.

It makes no doubt. Bitcoin is just at its very early stage of life. Most exciting things which we can predict will happen by 2020 and the halving. That times will be golden moments, both to live and for my wallet 8) !

of course bitcoin will be able to achieve a higher value, seen from a short time bitcoin able to show credibility and fulfill everyone's dream.

Most of the predictions that I've seen for BTC or other cryptos came true, so I am really eager of seeing its full potential.

I think that this is quite real even now. We have already applied the price of a diamond, which starts from 3000 dollars, and bitcoin costs more. Bitokin is our own diamond :)

Yes, I strongly believe BTC price will exceed diamond price. IMO, with Bitcoin potential, exceeding a house price of $100,000 in the long term is not a problem as well.

I think that in the next decade bitcoin will be valued much more than diamonds and gold. Now the age of technology, and its main value, own diamond of a new high-tech era is bitcoin. This is already happening, the cost of bitcoin is already above the minimum cost of diamond.

Very interesting topic, we’ve all heard compassion to gold but never diamonds

This year has shown the true power of bitcoin. At the start of the year, bitcoin value surpassed the price of gold which stunned many people around the world who thought that this was nothing but a hyped up fad which would crash and disappear soon. The king of the crypto world continues to rise at a razor sharp rate and if this rally continues, I feel bitcoin will overtake bitcoin sometime during next year.

You can't get what you paid for a diamond from any other dealer so I would not call it a functional market. It's a rigged non event that managed to fool enough morons into thinking that something that litters the Earth is desirable.

I can just about get gold. I'll never comprehend any stone 'market'. 

What is a diamond? Treated diamond, transparent stone, sparkling in the sun. And what determines its value? Increased demand. It is quite comparable with bitcoin. Its value is also in the increased demand of buyers. It is possible that in the near future it can really exceed diamonds in value and this is absolutely real.

Until now it still does not match the diamond price, but I am sure in the future to come a few more years maybe bitcoin will be the toughest rival of the diamond (the most expensive stone). How could this happen? because bitcoin in the future will be a rare thing as well as diamonds, the rarer the higher the price.

Diamond was just a rock for centuries when people used them as mere exchange for products, now it is rare and that's why it's getting that value. Bitcoin is still in it's childhood and it'll be much more than diamonds.

For me, it has a tendency that very soon it will be worth as much as that. As you can see right now, it is not possible to happen. Maybe one day we will be shock by its suprise price. We hope so.

Diamonds are not as rare as some believe. There is a cartel that controls the supply and therefore the price of diamonds. This is not the case with bitcoin.

Am not much of a precious stone enthusiast but I know the value of these natural stones lies in scarcity and are not readily available for supply and as far as I know bitcoin is on the right track to outmatch the value of these diamonds once all the 21 million coins are mined and demand keeps growing...we are certainly going to witness bitcoin match diamond's value!

Yes , this is the goal target that i think Bitcoin should reach, Bitcoin already passed golds, now only diamonds left.

The diamond industry has already been left in the dust by Bitcoin if you go on market cap, which maybe no one should but as it fits this particular narrative we may as well.

http://www.diamondfacts.org/pdfs/media/media_resources/fact_sheets/Diamond_Industry_Fact_Sheet.pdf

But it's irrelevant anyway. I've never met anyone who used gold as an investment. If I'm reincarnated a thousand times I'll never meet anyone who uses diamonds for the same.

Worth of diamonds.. are different for different ones as a whole the diamond industry isn't something that one chooses as an investment.

People choose gold and..invest in stock market, but There are very rare people who actually tags along with diamond.

Diamond industry was 79 billion USD in 2015, right now we can expect well above 85 billion USD.

The bitcoins industry an year before in terms of world's cash was 100 billion USD.

Thus , it can be inferred that bitcoin Industry is already well above the diamond one..

I think it can. Because there are more and more people around the world know and accept Bitcoin value. If its price continues rising, I believe it will be worth as diamond

Ok its simple Bitcoin is going to reach and cross the price of diamond in no time. Bitcoin gets his price, but two sources (extreme more than 2). When is Bitcoin mining and one is marketable. We know that by each day the mining difficulty is increasing and so do the Bitcoin price, on the other hand we have the markets. Price on the markets are determined by the demand and supply on the coin which means we are responsible for the price change.

what kind of question is that. Diamonds can be made in labs now. Their value isn't going to increase, its not a finite supply anymore. Its just pressurized carbon and we have a lot of carbon. BTC is a finite supply and with people losing and dying with BTC daily its gonna get more and more finite.

I think so. If bitcoin reaches its maximum cap. Its value will be increased as a diamond's worth. Because diamond is rare, so its value is high and everything that is rare gets a high value.