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Author Topic: Pilipinas (Philippines)  (Read 1203601 times)
hashpuppy
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January 01, 2014, 07:24:49 AM
 #541

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?

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January 01, 2014, 08:30:31 AM
 #542

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

execute
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January 03, 2014, 02:59:41 AM
 #543

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:

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. :-)

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January 06, 2014, 12:02:42 PM
 #544

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..

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January 07, 2014, 02:51:32 AM
 #545

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.

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Ayakashi
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January 07, 2014, 10:39:13 PM
 #546

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

Coinxchange Philippines: http://www.coinxchange.ph
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January 07, 2014, 11:13:14 PM
 #547

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! :-)

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January 08, 2014, 12:12:41 AM
 #548

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.



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January 08, 2014, 12:23:12 AM
 #549

Bakal, on this thread (https://bitcointalk.org/index.php?topic=315198.0) Round 21 has antminers. Typo?

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January 08, 2014, 02:15:25 AM
 #550

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.

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Bakal
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January 08, 2014, 04:46:48 AM
 #551

Bakal, on this thread (https://bitcointalk.org/index.php?topic=315198.0) Round 21 has antminers. Typo?

heheh i was in a rush. i will add other round (ie. antminters) as well. I am on mobile. sorry I will edit later.
I only joined some rounds. will edit soon. busy at work. thanks

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January 08, 2014, 07:17:06 AM
 #552



Here is the hash rate of all 4 fury units at eligius pool for the past 5 to 6 hours, using BFGMiner 3.9.0. Pricing lowered.

Quote
Estimated Earnings
Your approximate maximum potential earnings at the current network difficulty of 1,418,481,395.26 and maintaining your 3-hour average hash rate of 8,022.04 Mh/s is 0.00284417 BTC per day.

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January 08, 2014, 09:40:28 AM
 #553

Today we're launching https://BuyBitcoin.ph - the safest and easiest way to buy and sell bitcoins in Philippines!

We believe this is a key piece of infrastructure that the Filipino Bitcoin ecosystem has been missing, and we're very excited about the role Bitcoin can play in one of the world's largest remittance markets.




Bitcoin Manila meetup January 18

Time: January 18, 2014, 6PM

Place: Aelogica, Unit 803, Ecotower, 9th Avenue corner 32nd Street, Taguig City

RSVP: https://www.facebook.com/events/1470665036493297/

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January 08, 2014, 12:17:40 PM
 #554

Your rates are kind of high. But you seem to make it easier than the typical local trade.

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January 08, 2014, 12:25:06 PM
 #555

Your rates are kind of high. But you seem to make it easier than the typical local trade.
With volume we will be able to lower our rates significantly.

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January 08, 2014, 05:28:50 PM
 #556

Just thought to let everyone here know that tagcash.com is now live for trading of Bitcoin and 16 other cryptocurrencies against each other, as well as 9 fiat currencies (including PHP). No transaction charges, and no charges for Philippine users to deposit PHP into BPI, BDO, Metrobank and Standard Chartered Bank. There is also an escrow function (free) that allows users to pay but not fully transfer untill Bitcoin etc has been fully transferred and confirmed, which also protects the seller as the money cannot be released untill proof either way.

Tagcash is a payment platform with a built in exchange. We are based in Makati, but available worldwide. Tagcash aims to become the paypal of cryptocurrency, and this requires us to have an exchange built in as part of the platform. If you want to start selling goods and services for Bitcoin or Cryptocurrency, you can do so using our free API, or creating a merchant account in tagbond.com and creating free adverts, coupons, shopping carts etc. Transaction charges are 1% of sales for merchant accounts.

@Ayakashi - We have been working for the last few months with Bangko Sentral, and we are going through the process of becoming licensed as E money issuers and have already created a 100m Peso company as part of the requirements. Although you don't need a license to create an exchange, we do because we are intending to compete with G Cash and Smart Money in Philippines. As for banking, it's fairly straightforward, different bank to bank payments cost about 100 pesos per transaction, depositing money costs nothing if you have bank accounts with most of the popular banks (as we do). It's been interesting learning about the requirements and needs here. I will be at the Bitcoin meetup next week if you want to talk more.

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January 08, 2014, 11:46:16 PM
 #557

Thanks to those that replied, including @tagbond, @Dabs and @execute. I appreciate your insights. 

I'm based in Las Vegas, USA, so unfortunately can't attend this meetup but I'll bet you'll see me at one in the near future.  I'm going to get the code nearer to test-ready stage, and then complete the company registration and banking locally. @tagbond, like you I plan to create a 100m Peso company so that I can register as a foreign-owned corporation although we'll have a local office.

Coinxchange Philippines: http://www.coinxchange.ph
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January 09, 2014, 08:09:18 PM
 #558

@Ayakashi - you don't need PHP100m USD$2.5m) to create a foreign owned corporation, in fact that only needs $200,000 (although in practice they do make it difficult). We put the 100m in as paid up capital so we can become Bangko Sentral approved to issue our own currency or deal with electronic money. Unless you are going that route, no need to spend so much..Wink

But if you do set up an exchange here, you are still going to need to get fiat money in somehow, and that is where we can help...and if you are intending to build your own wallet system, we would be interested in integrating it in the same way we will do for vMoney, TCash, Gcash etc

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January 13, 2014, 01:44:41 AM
 #559

Would like to invite everyone here to join our growing community at Bitcoin.org.ph. :-) We're also in need of contributors and moderators so if you're interested, let me know! :-)

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January 13, 2014, 05:36:29 AM
 #560

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 5,000 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 17,000 PHP. No meet up, I will ship to you via Air21 for free.

magkano last price nito sir, can't make an ROI of 5 mos with this current difficulty 1,789,546,951
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