Bitcoin Soars To Record High $4,600

Tyler Durden's picture

The prices of Bitcoin has exploded overnight, surging over 6% to a new record high above $4600 as demand from South Korea and Japan spurred more safe haven buying as gold and Treasury bond prices rose following North Korea's most provocative missile launch yet.

Heavy volume taking Bitcoin higher...

 

We note that the big volume spike in Bitcoin struck as US equity markets opened and panic-buyer bid tech stocks...

 

The cryptocurrency landscape is a little more mixed but Ether is gaining...

 

This mornig's rally has pushed the cryptocurrency market cap over $160 billion for the first time.

 

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Honey-Badger's picture

All transactions are tracked online on a public ledger and government could make it illegal with one the stroke of a pen, no thanks.

Creepy_Azz_Crackaah's picture

Just make sure you get out before the sudden crash.

Tick tock...

"But those valuable electronic 1s and 0s can be sold anywhere and used for anything."

Mtnrunnr's picture

Can you please shut the fuck up with your lazy racism? No one thinks you're funny.

Honey-Badger's picture

Would you prefer he call them Luciferian talmudic shitstains that hide behind Judiasm?

tmosley's picture

98.5% hiding behind 1.5%?

VD's picture

tmoron: it's now at $4559.43. --> 0.00

tmosley's picture

Then go all in short.

Creepy_Azz_Crackaah's picture

Nothing to see here. This is what stable "currencies" do.

tmosley's picture

Yes, they get adopted and rise to the levels we have been telling you about. Thousands of times higher than they are now.

But don't buy. Wait until the transition is complete and then just start getting your salary in it (12000 Satoshi a year!). Wouldn't want you to "speculate".

Billy the Poet's picture

Transitioning is all the rage. But I like my junk hard whether we're talking about genitalia or pre-65 coinage.

yogibear's picture

Instead of flocking to the US dollar they flock to bitcoin.

Think for yourself's picture

Whether the cryptos were originally designed with nefarious interests in mind...

You did not code your operating system. Nor did you compile it. Even if you did, you didnt design the CPU it runs on - nor did you print it.

You. Do. Not. Control. Your. Platform. Whether a desktop, laptop or smartphone - you are not the master. And even if you had designed & printed your own CPU, coded the OS that runs on it - then what - the network is under hostile control as well, and even if your side is "secure" attacks can come from any weak link anywhere from the other party in the trade (who doesn't control his computing platform either) or any point in-between.

When the time comes they won't even need to wipe your setup with an EMP - or an ill-timed solar flare. They'll just harvest your coins from within your Trusted Computing (TM) cpu, or they'll shadowban your wallet from the network, or, or, or...

One's got to be retardedly arrogant to believe they can win at this game without the will of the PTBs.

MANvsMACHINE's picture

Thinking for yourself has gotten you nowhere.

VD's picture

correct. which is why gold is superior, irrespective of fractional paper rigging, pigs busting down doors, etc. it's got 6k years of tradition for good reason.

Golden Phoenix's picture

Taking a shit has 6k years of tradition.

Overflow-admin's picture

TPM = Trusted Platform Module

WAIT FOR IT...

Cannot trust the TPM: https://www.google.com/search?q=TPM+hacks

Golden Phoenix's picture

I learned the hard way years ago that retardedly arrogant is when you look at a price chart and believe you are right and the world is wrong. The wheel just keeps on spinning and grinds such people to dust.

Fizzy Head's picture

this manipulation will end badly... who in their right-disturbed mind is forking over 4,600 hard earned cash for these digital silicon bits?

Julian's picture

VD, youre a tosser  - if youre so adament its going doen go short on an ETF but you wont because you are full of shit and very upset that you did not invest in BTC when it was $200 so now you dream of it crashing. Don't worry, you will buy it eventually - as long as there are dicks like you with no skin in the game urging everyone to sell because its going to crash only means that BTC will go higher, its a good sign to buy the more you tell BTC investors to sell - good luck when you have to buy .0000001 for $10,000, you will eventually capitulate because you wont be able to resist.

tmosley's picture

Ghost month is almost over. The flood of capital will resume in earnest now.

Peanutz will be roasted.

LostandFound's picture

When do you predict a correction Tmosley, 200b market cap?

tmosley's picture

No way to know. If you are wanting to get in but have none now, I would advise you do what I always advise in situations like this. Figure out how much you want to put in, and put in 10% of that immediately so you have some exposure. Then divide the rest into three buy-ins, and wait for crashes. Watch the news.

That said, ghost month is coming to an end, and as a result, Asian buyers are back. Could be a straight run up from here for a ways. Bitcoin and other cryptos are similarly hard to value as gold. You only know that their true value (assuming they are accepted as money at scale) is far north of where it is now, even though it could always crash in the short term.

LostandFound's picture

When do you predict a correction Tmosley, 200b market cap?

readyforit's picture

BitCon a "Safe Haven"??  Safe like a NK submarine.

Cognitive Dissonance's picture

Safe Haven is whatever delusion you and the herd currently believe in. Did anyone read that ZH contributors article about the NSA white paper describing a cryptocurrency being developed and used to subvert and control? All your bases..er..bytes are belong to us.

sudzee's picture

USD in death spiral. C/B's going to have to take the chockhold off of gold or face a crypto world led by China, Japan and Russia.

NoDebt's picture

Buy now or be priced out forever!

 

tmosley's picture

Unlike gold, which you have to buy in large incriments, which get more and more expensive the smaller you get, you can buy bitcoin at any price, in any amount, for the same cost.

That makes it good money.

NoDebt's picture

My God, I never thought of it that way!  (Yes I did)

 

tmosley's picture

I'm sure you came up with a counterargument, and didn't just dismiss that argument out of hand.

NoDebt's picture

I love when people don't get my satire.

(FYI- I've owned BitCoin for several months now.  My second period of ownership and a larger starting position than the first time.  And it's not at an exchange waiting to be stolen/confiscated/tied up in a legal mess.)

NoDebt's picture

I dunno man, most people seem to get it.  But not you.

As I have said many times, if you assume everything I write on ZH is satire you will usually be right.

 

Bay of Pigs's picture

It's "increments".

Large quantities? Tenth ounce, quarter ounce?

tmosley's picture

Yes. 

You can buy a millionth of a bitcoin for the same "spot price" as you can buy a thousand bitcoins.

Meanwhile, you pay, what? Twice spot for a gram of gold, vs spot for a 400 oz bar? Ridiculous.

Bay of Pigs's picture

I understand what you're saying about BTC.

Fact is, a million bucks in physical gold can be purchased in smaller amounts and still fit into a very small space.

tmosley's picture

But it costs two million bucks.

And they will steal it from you.

aloha_snakbar's picture

I am having a hard time following your logic. You say on one hand that smaller increments of gold for more money are 'ridiculous', but yet you seem okay with Bitcoin going from 0 to 4.6K in a few years... please explain that to me...

tmosley's picture

Those two have nothing to do with each other.

Your brain is looking for a way out. Just buy a little bit and that cogdis will clear right up.

aloha_snakbar's picture

Bitcoin will 'never' be money. Money has always been a medium of exchange that people *agree* on. There will never, ever be enough people agreeing to use Bitcoin, or any crypto...

tmosley's picture

Sort of like how many will never fly. Or how this whole "internet" thing will just be a fad.

Hahaha.

aloha_snakbar's picture

People have been using some physical representation for money for *thousands* of years. Do you *seriously* believe that in the next ten to twenty years that that is going to change? Just because a fractionally small part of the population says it is so?

tmosley's picture

Yes, exactly like people used physical books for "thousands" of years, but now they read them on electronic screens.

The "fraction" is growing. You know the reason. It is the same reason that you justified your gold purchases. But crypto is easier to use than gold. It can sustain the system as it is with minimal economic damage from the transition. All you need is a software upgrade for your POS systems and BOOM, you are free from the tenticles of the Fed. No need for massive retraining of your workforce. No need for armored trucks hauling gold and silver across the country. No need for trust of third parties that are probably bankrupt.

kamikun's picture

>>People have been using some physical representation for money for *thousands* of years. Do you *seriously* believe that in the next ten to twenty years that that is going to change?

Yes, go to any major city in Asia - no one uses physical money for daily transactions anymore. Debit cards, ApplePay watches, retina scans, and other methods are used almost exclusively by the under 25 set for all of their daily purchases. The next generation will look at physical money with the same sense of bemusement that we have looking at tabletop calculators from the 50s or 5 ton 8Meg harddrives from the early 70s.

And when was the last time you used cash to buy anything over $1000? Most stores won't even accept more than $500 in cash payments due to money-laundering concerns. 

I hold gold - but it is a hedge. Money and finance have gone digital. And like it or not, cryptocurrencies have become a bona-fide new asset class.

aloha_snakbar's picture

And when was the last time you used cash to buy anything over $1000?

LOL... yesterday?

vened's picture

By digital you mean fiat.  And we all know that fiat is by far the most stable currency implementation EVA. /sarc

 

Bay of Pigs's picture

That is absolute horseshit. I've been in Vietnam, Thailand, Hong Kong and mainland China four times in the last three years and CASH flows EVERYWHERE you look.

You're a fucking shill and a liar.

tmosley's picture

Not everyone is there for the sex tourism.

MANvsMACHINE's picture

Have you seen what's happening? You are in denial. Stuck on a hypothesis that you have to consider may be wrong. Maybe you're right and bitcoin will crash and burn but it certainly doesn't feel like it.

I was here, under a different name until I was shut down, calling it Shitcoin but I saw the error of my ways and got on board. Even if it goes to zero, which I doubt, there is a lot of money to be made before then. This bubble is not even close to bursting. When my barber and shoeshine guy begin to tell me to buy fuckallcoin, that's when I'll be selling. It's coming.

The Dutch Guy's picture

The whole word is about to get digitalized, did you miss that part?
There where no cellphones 20 years ago and look around you!
I think you need to rethink your comment again. We even have quantum computers nowadays and you come with your thousends of years comment. Ps. Buy Btc, tokens, and alts.... And Yes, also buy gold and Silver.