Yeap, the analogy is perfect, assuming you actually know something about the diamond business. Let's see how it fits:
1. Diamonds/cryptos are not rare.
I know, we were told about diamond's scarcity, but you should see De Beers diamond vault, full of the good stuff, but withheld from the market creating artificial scarcity. The crypto equivalent is the max. ever mined coins and the HOLD movement.
2. Diamond/cryptos are not really valuable.
Try to sell a used diamond at a pawn shop and see if you get 30% of the value what you paid for as new. The same with cryptos, there is no logical reason why they should be extra valuable, except some people think they are. Time will tell, how long the silliness lasts. Newer, with better feature cryptos are still way less valuable than good, ol' stinky bitcoin.
3. Diamonds don't need to be mined (anymore). Yeap, there are lab grown diamonds and they are even cheaper than the real thing. Also no blood attached to it. The crypto equivalent is the fork. Your precious crypto can be forked on any given Sunday (or Tuesday if you prefer) and make another one just as good as the original copy.
4. Cheaper but similar function things exist, like cubic zirconia. Sure it can not cut glass, but it is just as shiny in a ring or in a necklace. The crypto equivalent is new, but better featured cryptos than the original grandpa bitcoin.
5. Most of the claims about diamond/cryptos are simply untrue (aka lies).
Not valuable, not rare, not unique, not irreplaceable. Those are the lies about diamonds. Not good as currency, not cheap transaction, not rare, not unique, not even fast, not scalable, etc. Those are the original claims about bitcoin proven to be untrue by the passage of time and real world usage.
I am sure there are more similarities, but these will do, so say after me:
Cryptos are like Diamonds!!!
1. Diamonds/cryptos are not rare.
I know, we were told about diamond's scarcity, but you should see De Beers diamond vault, full of the good stuff, but withheld from the market creating artificial scarcity. The crypto equivalent is the max. ever mined coins and the HOLD movement.
2. Diamond/cryptos are not really valuable.
Try to sell a used diamond at a pawn shop and see if you get 30% of the value what you paid for as new. The same with cryptos, there is no logical reason why they should be extra valuable, except some people think they are. Time will tell, how long the silliness lasts. Newer, with better feature cryptos are still way less valuable than good, ol' stinky bitcoin.
3. Diamonds don't need to be mined (anymore). Yeap, there are lab grown diamonds and they are even cheaper than the real thing. Also no blood attached to it. The crypto equivalent is the fork. Your precious crypto can be forked on any given Sunday (or Tuesday if you prefer) and make another one just as good as the original copy.
4. Cheaper but similar function things exist, like cubic zirconia. Sure it can not cut glass, but it is just as shiny in a ring or in a necklace. The crypto equivalent is new, but better featured cryptos than the original grandpa bitcoin.
5. Most of the claims about diamond/cryptos are simply untrue (aka lies).
Not valuable, not rare, not unique, not irreplaceable. Those are the lies about diamonds. Not good as currency, not cheap transaction, not rare, not unique, not even fast, not scalable, etc. Those are the original claims about bitcoin proven to be untrue by the passage of time and real world usage.
I am sure there are more similarities, but these will do, so say after me:
Cryptos are like Diamonds!!!
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, and then you will really have blood on your hands!