Bitcoin Blows Through $4000 As Asian Demand Soars

While many of the largest cryptocurrencies are fading modestly this morning, Bitcoin is holding on to dramatic agains which saw the largest virtual currency spike to as high as $4190 as Yen, Yuan, and Won trading activity dominated volumes.

Bitcoin Cash remains in 4th place overall by market cap but Bitcoin is the only currency higher among the top 5 this morning.


Soaring past $4000...


As CoinTelegraph reports, the trading of Bitcoin in Japanese yen has accounted for almost 46 percent of total trade volume worldwide. The trading of Bitcoin in US dollar accounted for around 25 percent, while the trading of Bitcoin in South Korean won and Chinese yuan accounted for approximately 12 percent each.

Additionally, anticipated demand is being priced in after VanEck filed for an 'active strategy' Bitcoin ETF:

The Fund seeks to achieve its investment objective by investing, under normal circumstances, in U.S. exchange-traded bitcoin-linked derivative instruments ("Bitcoin Instruments") and pooled investment vehicles and exchange-traded products that provide exposure to bitcoin (together with Bitcoin Instruments, "Bitcoin Investments").


The Fund is an actively managed exchange-traded fund ("ETF") and should not be confused with one that is designed to track the performance of a specified index.


The Fund's strategy seeks to provide total return by actively managing the Fund's investments in Bitcoin Investments.

Bitcoin’s solid performance in early August reflected that of gold’s amidst the selloff in stocks and bonds around the world due to the growing apprehensions over North Korea’s nuclear threat.

And the latest moves this weekend in the crypto world suggest gold will open well north of $1300 tonight.


Manthong VD (not verified) Sun, 08/13/2017 - 11:17 Permalink

  It could go to a million…… ,,,and then what… when nobody wants to buy it back for the coin of the realm. …maybe the plebes are being played by the bankers and their government patrons. edit: 
/* Style Definitions */
{mso-style-name:"Table Normal";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-bidi-font-family:"Times New Roman";
Oh… I need to restate that….. “ the bankers and their government supplicants” 

In reply to by VD (not verified)

vega113 Raffie Sun, 08/13/2017 - 13:36 Permalink

Can you please explain to me why people will dive into LTC? It went up once it adopted SegWit while Bitcoin was stuck in scaling debates. But now Bitcoin got SegWit - it is the most liquid crypto with largest adoption, best infrastructure and widest known brand. Why people would go into other coin?

In reply to by Raffie

Eager Beaver vega113 Sun, 08/13/2017 - 13:47 Permalink

You guys are so cute. With your little 'tulip' meme. I love how you trolls dominate these articles on cryptocurrencies when you have zero interest in them. Just goes to show what giant douchebags you are. I'm sure when the PC came out, you were saying 'Derf, what's a kompooter?', and then, when the Internet started to trickle into your little consciousnesses, it took you until 2001 to actually get online. We'll talk in a few years, if we're still here communicating on this medium, but here's where you are now;

In reply to by vega113

haha-clinton-dix Eager Beaver Sun, 08/13/2017 - 14:55 Permalink

The richest guy I know is a car mechanic. I saw his IT stack first hand.He picked up an old phone from the 1960s, pulled an old notebook out from his pocket, and wrote down just a phone number in pencil. Earnings beat interest. Money from nothing, and it's there, not tied up in anything that can loose.I don't have enough money to justify spending at least a day getting setup on bitcoin.Governments still haven't touched it. When they do, it will drop.Private sector hasn't touched it. When they do, it will drop.It is very risky, and out of your control. Your time, and more importantly money are better spent somewhere else.

In reply to by Eager Beaver

Eager Beaver haha-clinton-dix Sun, 08/13/2017 - 17:20 Permalink

What a load of superstitious bullshit. I suppose evil spirits cause illness in your world too, don't they? You know what's out of your control. Fucking everything. Is the stock market under your control? How about Forex? You controlling bonds? How about the fiat that issues from every central bank? OH, oh, oh! I know, you control the precious metals market! Oh wait, no. You don't even control your own fucking government, and you want to sit here and yammer on about a lack of control? You admit to knowing nothing, about not having time to get "set up on Bitcoin", which takes approximately 15 minutes, and then go on to explain to all of us how it works. Are you retarded? Or just a shill?

In reply to by haha-clinton-dix

Eager Beaver tmosley Sun, 08/13/2017 - 15:44 Permalink

I'll take a quick stab at half of that, because I don't know why anyone in their right mind would invest in LTC. As for the other Alt-coins, the problem is largely semantic. It's related to why a lot of the mis-understanding among the 'bit-tulip' crowd here exists. They don't understand it, it scares them, so they get angry and lash out at the world. Kind of like two year olds, but I digress. Why would you invest in an alt-coin? Because they're not all currencies. Some are, like Monero, and they're setting their sights on Bitcoin and it's weaknesses, which will become apparent at some point. But most of the "cryptos" are either shit coin copy cats of Bitcoin, Ethereum, or some other coin, outright scams, or something else entirely. Blockchain is the keyword here, not "cryptocurrency". The blockchain technology that came out of Bitcoin and refined by others, has the potential to revolutionize many traditional private, fee-based networks. Many of these networks are essentially monopolies (in the truest sense of the world, i.e. gov collusion) and have the people who use them by the balls. What makes the marriage of blockchain technology and units of value meaningful, is that you can attach financial transactions to almost anything, and there is enormous utility in being able to do this.Look at somthing like Lunyr that is creating a decentralized network for open-source scientific exploration and peer-review on the blockchain that will reward submitters who gain the approval of their peers with tokens, redeemable in any currency. This is one example, there are many innovative applications of blockchain tech. Another use for alt-coins is as a decentralized way of raising capital. The trends of ICOs, offering coins to anyone who wishes to invest in a company, without having to participate on a traditional stock exchange. You have a company like TenX, who had an ICO recently, offering their token as an investment vehicle to fund development of a system that will allow anyone to spend any crypto at any retail location with a traditional debit card, without the high transaction/miner fees, and they are going to pay holders of their token .5% of all network transactions. That's a damn good dividend at the scale that could grow to. It's a direct link between investors, the company, and their clients. No middleman, no brokers, no fees, no commissions.There are some really interesting things developing in this space, focus on the research, and let the fuddy-duddies yammer on about evil spirits. They're probably not producing anything of value at this point anyway, so they'll never understand this.

In reply to by tmosley

Placerville Eager Beaver Sun, 08/13/2017 - 19:40 Permalink

Next issue with BTC will pump LTC and maybe BCH. Most other alts are good for the pump & dump (MGTOW reference) and maybe NEO since it's touted as an improved  version of Etherium with large Chinese based interest and buying.Most of the alts on Poloniex are red amd have been since just before the BTC fork. They do cycle through on different coins going green, but just the P&D. THe question is, when will LTC make a big move that will offset the price increase of BTC so you actually make more BTC? IF you make $800 (about 0.2 BTC today) profit, that great, but if LTC dollar price remains static (as it has) and BTC rises (as it has) you are actually behind in the LTC/BTC ratio, so that even if LTC rises, you will be behind in the ratio even though you made money in dollars. Project that 0.2 BTC to todays price ($800) and now say BTC goes to $8k ($1600). You would be losing $800 for every 0.1 BTC you didn't capture while waiting for a LTC pump. That is BTC you will never realize unless you can make another trade to overcome that deficit, or just buy BTC out of your pocket.Ask yourself, what will stop the BTC rise that would pump LTC in the next few months.  

In reply to by Eager Beaver

Eager Beaver Placerville Sun, 08/13/2017 - 22:30 Permalink

Oh yeah, I forgot the other thing you can do with "cryptocurrencies", gamble, err, I mean trade them. Yes, most of the shit coins and copy cats are good for trading and trying to fleece somebody out of some money by pump-n-dumping. Plenty of that going on in this space too, it's penny stocks, for sure, unregulated, wild west, no holds barred, offshore, tax free, speculation. Asians really seem to dig it, it's in their blood I think.So long as we're honest about it, and we all know what's going on, it's fair. But if your mom and pop try to invest their life savings in this shit show, how can they determine what's safe, and what's a scam? I don't blame them for being scared. Dangerous times. I love anarchism, I am a real anarchist, not one of these black bloc faggots. These markets should be unregulated and dangerous, that's what a free market is, v-o-l-a-t-i-l-e. It's on you to educate yourself, learn to judge people and businesses based on their fundamentals and business model, not on the pretty web site they have up, or worse, just jumping on something because it's going up and everybody else is.

In reply to by Placerville

vega113 Placerville Mon, 08/14/2017 - 17:32 Permalink

You sound like having "issues" as a bad thing. Bitcoin got "issues" - because peope actually use it. Litecoin has no issues - because no one uses it. WHy would you go into LTC if Bitcoin got issues? It is just a Bitcoin clone that pretended to improve over it but in fact it failed to improve. If bitcoin will have an issue - Litecoin will certainly have it too if it will have the same traction as bitcoin. Yeah, adopted SegWit sooner - but only because there was nothing at stake. The SegWit was developed by Bitcoin developers for Bitcoin - it was not a solution by Litecoin.I am sure speculators will try to pump and dump as they always do - has nothing to do with fundamentals.

In reply to by Placerville

Fizzy Head Lets_Eat_Ben Sun, 08/13/2017 - 18:12 Permalink

very reminiscent of when gold first hit 1k, not many were aware of what was going on....  was considering a handful of these algo-rhythmical digital numbers stored on sand when it hit a buck 50, but wasnt sure the sheeples would be ok with its intrinsic value as a currency... moral of the story, there'll always be another boat.. wait for it.

In reply to by Lets_Eat_Ben

38BWD22 johngaltfla Sun, 08/13/2017 - 13:02 Permalink

  Note to anyone interested re Bitcoin ATMs.  Not all of them are alike.  I bought a tiny amount at a "BTM" here in Copenhagen, Denmark.  Very easy too, took just seconds (most of the time just putting in Danish Kroner).The interesting thing was that the machine did not require ID.FYI:The Dubliner (an Irish pub), Amagertorv 7 (the pedestrain area of downtown Copenhagen). 

In reply to by johngaltfla

The central planners Blue Dog Sun, 08/13/2017 - 13:42 Permalink

That is exactly the point from gold and silver has unique physical properties. Cryptos doesnt, all those metals you just mention corrodes and are too abundant. Cryptos are no limited since are digital they are elastic bitcoin can have at least a trillion of satoshis plus miner could change their mind in the future and expand the official "limitation".

In reply to by Blue Dog

Bay of Pigs Oyster Sun, 08/13/2017 - 15:36 Permalink

I heard this "argument " when gold and silver were $1900 and close to $50 back in 2011. Nobody could "afford" to buy them then as they were both in a "bubble". So who the fuck can afford BTC at $4K then?

Serious question. How many people have $4K laying around to invest or speculate on this?

In reply to by Oyster

Not My Real Name Manthong Sun, 08/13/2017 - 11:32 Permalink

If all fiat currencies implode and their purchasing power goes to zero, then what will a bitcoin be worth? Bitcoin's value will have to be measured in terms of tangible items -- and those tangible items will all be anchored to gold.Only then will we know for sure if bitcoin is the real deal or tulipmania. 

In reply to by Manthong

tmosley Not My Real Name Sun, 08/13/2017 - 11:41 Permalink

Nope, their value will be anchored to some crypto or another (or many).It is much easier to transact in. The market isn't going to select something hard to deal with like flakes of gold. Everyone has a smartphone. Easy enough to keep a small wallet on it, and there are plenty of coins that have lightening fast transaction confirmations (and a very few now with no fees for transactions). Perfect for buying groceries.

In reply to by Not My Real Name

Not My Real Name tmosley Sun, 08/13/2017 - 11:51 Permalink

That is an assertion based on blind faith. Bitcoin has been around several years now; if it's so easy, why isn't bitcoin being widely adopted RIGHT NOW by the masses?People have been conducting business in gold and silver for 5000 years -- there are no technological impediments to that. Heck, I occasionally conduct business transactions in gold and silver today. I can't say the same for bitcoin -- nor would I because: 1) it's price is too volatile at the moment to be used as currency; 2) it isn't widely accepted (for many reasons aside from its volatility).

In reply to by tmosley

tmosley Not My Real Name Sun, 08/13/2017 - 12:11 Permalink

>if it's so easy, why isn't bitcoin being widely adopted RIGHT NOW by the masses?Because there is an established alternative. The SWIFT system. But as we all know, that is on the verge of collapse. Crypto is the next best thing, and once the infrastructure is built out a bit, it will become clear that is BETTER than the SWIFT system.>Heck, I occasionally conduct business transactions in gold and silver today.Hope you have been testing your gold for tungsten and your silver for lead. I don't think the minimum wage morons are going to be able to handle that, nevermind the long lines that would result.

In reply to by Not My Real Name

Not My Real Name tmosley Sun, 08/13/2017 - 12:54 Permalink

No, gold and silver are the next best thing; 5000 years of history prove it.May bitcoin prove to be a successful currency in time? Possibly. But I am risk averse, which is why I am happy to stick with precious metals.As I said before: we only know bitcoin's true value after the next currency crisis. Until then, you're betting on blind faith.

In reply to by tmosley

Raffie Khan Bucklin Sun, 08/13/2017 - 15:06 Permalink

I got faith in PM in the distant future and why I got my stacks.Cryptos are the NOW and PM are the later yet the pure hatetards don't to consider what I said. So let them lose out and endlessly babbling about cryptos this, that and the dreaded EMP that ONE DAY will/might happen and the power and internet will go down forever, never to ever come back....... I need to buy more popcorn too.... 

In reply to by Khan Bucklin

malek tmosley Sun, 08/13/2017 - 16:54 Permalink

Not sure if I would proudly display ignorance, as you're doing in the way of
"if I never heard of it, it didn't happen (a/k/a 'I know everything of any importance')- and with that the obligation to present proof entirely falls onto my opponents"

And to lump all fiat takeover attempts into one (!), plus decide the [current] one is "successful" goes more into the category of intentional blindness.

In reply to by tmosley

Raffie Not My Real Name Sun, 08/13/2017 - 13:04 Permalink

So the crypto global worth is over $126 billion means nothing and it is growing? Ok....BTC been out only since 2009 (not even 10 years) and yet, you feel cryptos like BTC should be rock solid and smooth sailing with little to no volatile? *chuckle* Well looking at gold/silver prices I can see your point. They are rock solid prices. They dare not stand up or they get a drive by and drop back to their stable low price ranges.What about Litecoin? It is pretty stable and been called a 'boring' crypto because they do not price swing a lot.Volatile in the cryptos is nothing more then growing pains is all. PM prices are not exactly standing up. They start to wake up then get knocked back out an thrown into the basement again. Rinse and repeat. I know one day it will stop, but after multiple decades it does get very old.'I occasionally conduct business transactions in gold and silver today.' good for you. So paper PM transactions?' it isn't widely accepted (for many reasons aside from its volatility)' so again, since 2009 BTC should have been globally accepted by now?Cryptos will be adopted globally and not thing 1 any of you can do about it. 

In reply to by Not My Real Name

Mr T tmosley Sun, 08/13/2017 - 13:00 Permalink

Here is one facet of my argument I have not seen refuted yet.How does it appear in my physical possession  and what does it look like? Without any transmutation. In other words a dollar can be a electronic digit, a bunch of plated brass tokens or a dirty piece of linen and paper.A bit coin can also be the same so what makes it different?If i have to reveal my personal info to transact a bitcoin how is that beating the bankers/gov.Hypothetical: iRS sends you a letter declaring your bitcoin gains as passive and estimates your profit and sends you achuge bill.Do you liquidate bits, into fiat? What is a transaction fee on buying 1 bitcoin?

In reply to by tmosley

tmosley Mr T Sun, 08/13/2017 - 13:29 Permalink

>How does it appear in my physical possession  and what does it look like?It is a number displayed on a screen, just like your bank balance IF you OWNED the bank.>If i have to reveal my personal info to transact a bitcoin how is that beating the bankers/gov.No you don't.>Do you liquidate bits, into fiat?If you don't want to go to prison.>What is a transaction fee on buying 1 bitcoin?Not that much, but it is different depending on where you buy it. Some Bitcoin ATMs have ridiculously high fees (20%!), but others are far more reasonable, as are exchanges.

In reply to by Mr T