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This is a great idea if they can market it completely. I had read somewhere - a New Yorker article maybe? - that it's possible to manufacture diamonds, it's just not as cost-effective as it is for DeBeers (the diamond monopolists) to mine them and release them at the right rate to the world.
If people find it's a good idea, it may allow the diamond manufacturing industry to figure out more cost-effective ways to make them, and then the price of diamonds will fall like... er... a rock.
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