However unlike cryptocoins you can't make diamond out of thin air
It can be asserted that they are making diamonds out of 'thick' air.
https://www.acs.org/content/acs/en/pressroom/newsreleases/2015/august/co2.html
What's fascinating about the crypto space is the attempt to define and limit what it is based on a mindset that is rooted in how things have worked in the past. Personally, I think the growth of p2p networks will bring innovation at a scale we have not witnessed before.