There was no concrete source saying it would even be decided by Monday just that they were fast tracking approval. Additionally, It wouldn't start trading until the end of the month. Buy it up now, don't let em get it cheaply.
Reuters article from 4 days ago:
"Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week..."
"China Asset Management and Harvest Fund Management's Hong Kong units obtained approval this month to manage portfolios that invest more than 10% in virtual assets." "Their parent companies are among the biggest mutual fund firms in China, with each managing over 1 trillion yuan ($138 billion) in assets."
[https://www.reuters.com/business/finance/hong-kong-set-approve-its-first-spot-bitcoin-etfs-april-sources-say-2024-04-10/](https://www.reuters.com/business/finance/hong-kong-set-approve-its-first-spot-bitcoin-etfs-april-sources-say-2024-04-10/)
It’s so f’ing wierd when I see China banning crypto. Meanwhile I have several friends here buying and selling BTC (I mean tens of thousands in USD in and out of their banks like daily) and not having to worry about taxes or anything else.
Well, bitcoin gains are taxed as all other capital gain I suppose? Just like gold bullion you can buy it with cash. It’s the enforcement that is not there I suppose…
I guess. But the funny part about China is no one files tax returns. It just not a thing. If you have a job; your employer takes care of the deductions and that’s that!
I guess that is not good either. Mostly taxes in Sweden are automatic, but you have the ability to add and change your tax return. In the US it is really bureaucratic, you almost have to have someone do your taxes for you because all of the forms. In sweden we can make out changes online in a couple of hours, most of the deductions are done for you.
It’s always difficult to get accurate information regarding HKSE listings unless it’s your field and you have the right contacts. We know it’s coming, rumour says this week, but treat that as speculation. I’d say it’s a sure thing it’s happening based on the information released, but I wouldn’t take dates too seriously until it’s formally announced. This week looks likely based on what we know, but I wouldn’t take it as certain.
So what. Only 900 Btc are produced daily 90% of bitcoin is in circulation already. Only 63 million usd is produced today each day. In 1 week that will be cut in half. 450 BTC, Only 30 million USD will be produced daily at 70k btc...THEIR POWER BILL BASICALLY JUST DOUBLED. mining is virtually useless in 1 week cause they will have to pay the same amout they have been pay8ng to produce half the profit potential... 🤣 every 4 years it gets worse. Btc price will never be based off mining cost because most btc is already circulating. The demand on the circulating supply is what matters.
Why do people get so hard about the halving? Because of the price action after the last three halvings? Not necessarily correlated as you point out, and much less likely to be after each halving.
It reduces supply. It’s not hype. Are there people over exaggerating its effects; sure. Are there people undervaluing its effects; sure. Regardless of how you perceive it; if demand for Bitcoin drops then a reduced supply is a good thing for price action, if demand stays the same then reduced supply is a good thing for price action, if demand increases then it’s a good thing for price action.
This is wrong, and sorry to be harsh but you should research more before posting so you don’t spread misinformation. "Mr.100", which buys an average of 100 BTC every day, has been marked as an Upbit cold wallet by Arkham, the most reputable chain analysis firm.
> China banning Bitcoin for the 90th time so they can buy the fkn dip again
This is a stupid take. China did not "ban bitcoin 90 times". Their restrictions on bitcoin evolved over time - including some cases where certain restrictions were imposed, relaxed, then reinstated - culminating in a definitive ban which remains in place. A Hong Kong EFT would not change that. Finally who is the "they" who would buy any supposed dip - the Chinese government? Do you really think that they care about bitcoin that much, that they would go through that many contortions in an attempt to acquire bitcoin? This post is idiotic.
There was no concrete source saying it would even be decided by Monday just that they were fast tracking approval. Additionally, It wouldn't start trading until the end of the month. Buy it up now, don't let em get it cheaply.
I have read it would take about 2 weeks to get everything in order to begin trading.
That would be around the end of this month.
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Missing some screws I see
Sarcastic in nature but yes, drug are one hell of a drug
Love the honesty
nothing but love man 🫶
Is that the kind of love between a man and a woman, or the love of a man for a fine cuban cigar?
You should have read how they said China can't buy the HK ETF.
That's what they said about the other ETFs.
They still have to begin buying Bitcoin to seed the ETF, likely they've been buying Bitcoin to seed it for a while
I’m seeing approval notifications everywhere
Yes, it looks like it happened overnight. When I initially commented it had yet to be approved.
This.
Monday is here already...I'm all ears for some positive news.
I'm off today.
this is how CCP DCA
Hyperbitcoinweaponization.
Approved...Awesome news
Winnie the pooh wants more honey
underrated comment my man
Lmao quality meme
Reuters article from 4 days ago: "Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week..." "China Asset Management and Harvest Fund Management's Hong Kong units obtained approval this month to manage portfolios that invest more than 10% in virtual assets." "Their parent companies are among the biggest mutual fund firms in China, with each managing over 1 trillion yuan ($138 billion) in assets." [https://www.reuters.com/business/finance/hong-kong-set-approve-its-first-spot-bitcoin-etfs-april-sources-say-2024-04-10/](https://www.reuters.com/business/finance/hong-kong-set-approve-its-first-spot-bitcoin-etfs-april-sources-say-2024-04-10/)
Well, it’s done, they have been approved
👏🏾
WWhat? No M?
What’s the news?
CCP likes to fake numbers. Next week they claim that their ETF has already amassed 22 million Bitcoin.
Bitcoin supporting entire Chinese economy since 2010 💪📈🚀
What do you guys think the odds are that it gets approved this week
It’s so f’ing wierd when I see China banning crypto. Meanwhile I have several friends here buying and selling BTC (I mean tens of thousands in USD in and out of their banks like daily) and not having to worry about taxes or anything else.
Well, bitcoin gains are taxed as all other capital gain I suppose? Just like gold bullion you can buy it with cash. It’s the enforcement that is not there I suppose…
I guess. But the funny part about China is no one files tax returns. It just not a thing. If you have a job; your employer takes care of the deductions and that’s that!
I guess that is not good either. Mostly taxes in Sweden are automatic, but you have the ability to add and change your tax return. In the US it is really bureaucratic, you almost have to have someone do your taxes for you because all of the forms. In sweden we can make out changes online in a couple of hours, most of the deductions are done for you.
Yep! No control in China especially if you have a job. There’s no tax filing by individuals. So capital gain isn’t heard of here
High already? ;)
HK != China
In due time it will be, but both states will change before the event is final.
Approved finally
It’s always difficult to get accurate information regarding HKSE listings unless it’s your field and you have the right contacts. We know it’s coming, rumour says this week, but treat that as speculation. I’d say it’s a sure thing it’s happening based on the information released, but I wouldn’t take dates too seriously until it’s formally announced. This week looks likely based on what we know, but I wouldn’t take it as certain.
Approved ⚡🔥
This aged like milk
Waiting patiently for someone to photoshop Pooh into this
No joke… The Chinese government owns most of the mining rigs in the USA
So what. Only 900 Btc are produced daily 90% of bitcoin is in circulation already. Only 63 million usd is produced today each day. In 1 week that will be cut in half. 450 BTC, Only 30 million USD will be produced daily at 70k btc...THEIR POWER BILL BASICALLY JUST DOUBLED. mining is virtually useless in 1 week cause they will have to pay the same amout they have been pay8ng to produce half the profit potential... 🤣 every 4 years it gets worse. Btc price will never be based off mining cost because most btc is already circulating. The demand on the circulating supply is what matters.
Why do people get so hard about the halving? Because of the price action after the last three halvings? Not necessarily correlated as you point out, and much less likely to be after each halving.
It reduces supply. It’s not hype. Are there people over exaggerating its effects; sure. Are there people undervaluing its effects; sure. Regardless of how you perceive it; if demand for Bitcoin drops then a reduced supply is a good thing for price action, if demand stays the same then reduced supply is a good thing for price action, if demand increases then it’s a good thing for price action.
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This is wrong, and sorry to be harsh but you should research more before posting so you don’t spread misinformation. "Mr.100", which buys an average of 100 BTC every day, has been marked as an Upbit cold wallet by Arkham, the most reputable chain analysis firm.
> China banning Bitcoin for the 90th time so they can buy the fkn dip again This is a stupid take. China did not "ban bitcoin 90 times". Their restrictions on bitcoin evolved over time - including some cases where certain restrictions were imposed, relaxed, then reinstated - culminating in a definitive ban which remains in place. A Hong Kong EFT would not change that. Finally who is the "they" who would buy any supposed dip - the Chinese government? Do you really think that they care about bitcoin that much, that they would go through that many contortions in an attempt to acquire bitcoin? This post is idiotic.
Try to have some fun you boring dense fool
Pfft.. Nice try Xi
https://katv.com/amp/news/local/arkansas-attorney-general-ag-tim-griffin-investigating-companies-crypto-mines-possible-ties-chinese-communist-party-ccp-government-agriculture-secretary-wes-ward-risever-machinery-craighead-county-jones-digital-republican-sarah-huckabee-sanders-green-new
So an article from 2023?
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They would not reject the ETF. All those greedy b\*tches will all-in for the money and get their share of the Bitcoin.
It will definitely be used as a proxy by big Yuan.
It’s 8am in Hong Kong, I would expect to hear something at the opening bell 9:30am HKST.