Author

Topic: Pilipinas (Philippines) - page 740. (Read 1313252 times)

legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
January 07, 2014, 09:15:25 PM
Philippine Bank to Bank transfers are slow. They take time to clear. Almost as if you write a check from Security Bank, to deposit to BDO, will take 3 banking days to clear. Online transfers are subject to the same time constraints.

What most businesses do locally is do a cash withdrawal (sometimes through a check encashment), grab the cash, walk over to the other bank, and deposit the cash over the counter. The amount is credited instantly this way.

Fortunately, a lot of banks are right beside each other, so you can regularly see people moving from one bank to the other.

For example, in one strip, there are 3 or 4 banks one after the other. Each bank has at least 2 armed security guards. The walking distance from one bank to the next is about 5 meters.

Low tech, but that's the situation. Otherwise, you can always issue a check and wait for it to clear.
newbie
Activity: 46
Merit: 0
sr. member
Activity: 245
Merit: 250
January 07, 2014, 07:12:41 PM
Hi guys and girls,

would like to take this opportunity:

would like to sell my shares on a coop mining in US.

name of coop: DZ mining coop.

1. round 21:
Black Arrow
no. of shares: 21 shares
hashrate: 40gh/s per share (nominal rate, not yet overclocked, if coop decides to overclock, you still get the overclocked rate)
total hashrate: 840 gh/s
est. delivery: end february 2014.
total BTC: 8 BTC (buyers pays fee to DZ MC on change address)

thank you. Take care. God bless.

regards.


newbie
Activity: 46
Merit: 0
January 07, 2014, 06:13:14 PM
Hi,

I'm a professional software developer and I've been working on writing a Bitcoin exchange from scratch.  I think the Philippines may be a good location to open an Exchange and the legal requirements appear to be reasonable.  Does anyone have any thoughts on that?

I've done some initial checking into what it would require to create a new foreign-owned corporation in the Philippines, because I intend to be fully registered.  One thing I haven't been able to learn much about is what the banking situation is like.  The US has ACH for moving funds in and out of banks.  India has NEFT. etc.  Does a similar situation exist in the Philippines and if so, what is it?  I've been able to see that if you have an account at "BankA" you can move money easily to another account, but I'm not sure whether this is easy between banks.

Any thoughts are appreciated.

Thanks

Hi Ayakashi, I agree with you that the Philippines would be a great location to open up an exchange, considering all the remittances moving into the country because of Overseas Filipino Workers (OFWs).

Not sure about moving money from Bank A to Bank B, I've yet to experience transferring funds easily to a different bank. Not really an expert on our banking systems, beyond the scope of regular banking. I heard that within bank transfers are possible, but process or ease is not standard in all banks.

I heard that our central bank, the Banko Sentral ng Pilipinas (BSP) might possibly impose a license of upwards of $2.5M but that is not at all confirmed info. I think they would categorize bitcoins as "issuing of virtual currencies" which I would argue that is technically wrong.
My assumption is that our government has no stance on, and possibly, no knowledge about bitcoins.

I'd be happy to help you out, I myself am an entrepreneur and I have some programming background. Let me know specific info you want to know and maybe I can make calls on your behalf. I would love to have a local exchange here! :-)
newbie
Activity: 43
Merit: 0
January 07, 2014, 05:39:13 PM
Hi,

I'm a professional software developer and I've been working on writing a Bitcoin exchange from scratch.  I think the Philippines may be a good location to open an Exchange and the legal requirements appear to be reasonable.  Does anyone have any thoughts on that?

I've done some initial checking into what it would require to create a new foreign-owned corporation in the Philippines, because I intend to be fully registered.  One thing I haven't been able to learn much about is what the banking situation is like.  The US has ACH for moving funds in and out of banks.  India has NEFT. etc.  Does a similar situation exist in the Philippines and if so, what is it?  I've been able to see that if you have an account at "BankA" you can move money easily to another account, but I'm not sure whether this is easy between banks.

Any thoughts are appreciated.

Thanks
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
January 06, 2014, 09:51:32 PM
Blue Fury x 2 and Ice (Nano) Fury x 2 available for sale. 2+ GH/S each. Supposed to be 2.5, but they rarely get that high. 2.1 maybe. Although the pool I tested with (eligius.st) shows 2.9 for one of these units. Price is 3,600 PHP each, payable in cash, bitcoin or tagcoin.

ROI in 5 months on constant difficulty, which we all know isn't going to happen, so these units are just learning or fun tools, not a business.

Buy all 4 for 13,000 PHP. No meet up, I will ship to you via Air21 for free.
hero member
Activity: 627
Merit: 501
January 06, 2014, 07:02:42 AM
Setting up a mining operation in Philippines is much more expensive than other locales, due to power costs...and with meralco the situation is not going to get any better.. But if you need advice let me know..
newbie
Activity: 46
Merit: 0
January 02, 2014, 09:59:41 PM
Hi guys, would like to show you a little project I hacked up: It's called Coin PNG. It basically allows you to generate a PNG image of a price conversion that updates every page load. :-)

For example: I would like to sell a television worth $50 and would like to get paid in BTC. I would post this image: http://coinpng.com/cfc11fb8.png

I know there other services like this, but mine has some added features :-)
Announced it on this forum too, here.

Check it out at http://coinpng.com. :-)
hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
January 01, 2014, 03:30:31 AM
Hi Lophie.....happy new year. Which country are you from?

I am from the Middle East, Saudi Arabia ^_^. Regarding the mining operation, I used to mine various coins. Lets meet in manila ad discuss this. I might invest as well Smiley
sr. member
Activity: 405
Merit: 250
January 01, 2014, 02:24:49 AM
BITCOIN MINING SETUP

Hi folks! Newbie here, been lurking and finally got posting rights today  Smiley

Anyone interested in setting up a bitcoin mining operation in manila? we're looking at preordering T hash rigs. There are known risks and unknowns of course, but we're optimistic on its future. We're still conducting due dilligence, today we believe it will be worthwhile (not to mention the fun while at it).

I know a lot of folks have lots of experience (mine is limited to GUI mining in the advent of asics) and any leads/guidance would be appreciated. Potential partners very much welcome of course. Smiley

Let me know and we can plan an ad-hoc meetup here in Manila. Thanks guys!

Jobim

Bitcoin lang ba....pwede bang altcoins?
sr. member
Activity: 405
Merit: 250
January 01, 2014, 02:09:14 AM
Hi Lophie.....happy new year. Which country are you from?
hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
December 31, 2013, 10:03:05 AM
Happy new years my friends. This is Lophie all the way from palawan greetin ya! ^_^.
member
Activity: 90
Merit: 10
December 31, 2013, 09:01:16 AM
Happy New Year Kabayan  Smiley

Mike
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
December 28, 2013, 08:15:09 PM
Cool. Pm or email me your BDO account number. I will add you to my internet banking for instant, any day, any time electronic fund transfers. Smiley I will be a regular buyer.
hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
December 28, 2013, 07:33:38 AM
hi lophie. is your 7% discount also applicable for 1 btc transaction?  how do you want the payment made?  if bank transfer, which banks are applicable to you?  its saturday today, and banks will open jan 2.  i'm still thinking...  enjoy your vacation.

I finally got an account at BDO Smiley. I am sorry to infor you the 7% offer has expired. However I am still offering 5% which is still theblowest price in the market. Now the suprise! I have 10million pesos worth for sale!!!!!! At this discount! Grab a piece of this today!
sr. member
Activity: 938
Merit: 266
December 27, 2013, 11:58:25 AM
hi lophie. is your 7% discount also applicable for 1 btc transaction?  how do you want the payment made?  if bank transfer, which banks are applicable to you?  its saturday today, and banks will open jan 2.  i'm still thinking...  enjoy your vacation.
newbie
Activity: 7
Merit: 0
December 27, 2013, 04:49:48 AM
Waiting my first coins from lophie  Grin

Edit: And i got it. Woohoo! Thanks lophie ~
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
December 27, 2013, 01:48:32 AM
Confirmed, I just bought coins from lophie today. Good rate. Doesn't get better than today.
hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
December 27, 2013, 01:38:35 AM
Quote
I am about to sleep havent slept for a looong while now. if you are REALLY buying wake me up please on 09064326940.

I am actually amazed I havent sold those 20 coins yet..... -_-! for god sake 7% off!, baby Jesus is crying....

If you could lower the initial buy limit on localbitcoins, maybe you could sell it that fast on small buyers like me. Would like to buy a fraction of your coins, if you don't mind Smiley

ok but localbitcoins is for my general long term deals but smalls deals are okay. how much do you want? are you the one who smsed me? that amount is okay.

Basically I am doing everyone a favor coins are super cheap your profit is guarenteed! dunno why ppl here hesitate!

catch? I just need money!
newbie
Activity: 7
Merit: 0
December 27, 2013, 01:21:45 AM
Quote
I am about to sleep havent slept for a looong while now. if you are REALLY buying wake me up please on 09064326940.

I am actually amazed I havent sold those 20 coins yet..... -_-! for god sake 7% off!, baby Jesus is crying....

If you could lower the initial buy limit on localbitcoins, maybe you could sell it that fast on small buyers like me. Would like to buy a fraction of your coins, if you don't mind Smiley
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