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TheOtherDave comments on Holden's Objection 1: Friendliness is dangerous - Less Wrong
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Well, they don't value the diamond, either, on this account.
Perhaps they value the wealth they think they can have if they obtain the diamond, or perhaps they value the things they can buy given that diamond, or perhaps they value something else. It's hard to say, once we give up talking about the things we actually observe people trading other things for as being things they value.
You're right and I was wrong on this point. Please see my reply to gRR's sister comment.