I’m sure you have all heard about recent diamond prices, but this is for those who haven’t.
Ever since the removal of the diamond admin shops, diamonds have been fragile in value. Multiple events triggered what was bound to happen sooner or later. I could go into vast detail about what happened, but these are the two main things you should know:
1) A large sum of diamonds entered the marketplace
2) New shops have made diamonds a competitive item
I posted this because I wanted to inform those who didn’t already know (I don’t want someone accidentally paying for more than they’re worth). The price for diamonds may raise in the future, but at the same time…they may not. Only time will tell, let’s all hope for the best.
This is your own fault. You based the entire economy on a material that is so universal. If I were you I would have had the economy based on emeralds they are equally rare as diamonds but not as useful. It is still early enough to change this but if you don’t the economy is going to crash…
It’s Fiat money, meaning it only has intrinsic value. It’s only worth something because people believe that it’s worth something - much like the vast majority of real life currencies today.
The main reason this is relevant is that diamonds are a very popular item on the market, and people want to know what they should be paying.
How is this Ferrari’s fault? He didn’t base the economy on anything, diamonds are just what people want. Like someone previously said, diamonds are like stock in the economy, they lose and gain value. Money is the true currency.
