[CLOSED] Mang Sweeney's: send money to the Philippines through bitcoin

[ColdHardMetal]

Glad to see this has some activity here. I was in the Philippines for a vacation in February and I was a bit shocked by the number of WU/Moneypak/etc outlets there were all over the place. Definitely looks like a demand there. Especially when I learned just how many Filipinos there are living outside of the country and presumably repatriating funds.

[ccl]

I can say this is one breakthrough for bitcoins.  Most Filipinos are working overseas and this will really help hard earned money without those high transaction fees.  Am promoting use of bitcoins to my relatives across the globe.  For me Bitcoins is connecting lives

[MadSweeney]

CordHardMetal, fimp, ccl, thank you for your comments and feedback. They are much appreciated.

It may be time for Mang Sweeney's to move to the next phase. I wanted to give bitcoin more time before telling more people about it, to let the scams be aired out, weaknesses exposed, and supports built up. I had it easy starting up this service. I just used the forums, preached to the converted, and tried to make good on my promises. Now the hard part follows, selling to the uninitiated. This is challenging because I am hardly a salesman. Well, let's just see what I can do about it. Besides, a few people have expressed their willingness to help spread the word. My approach may be slow, and it may be quiet. It's all right. I am here to build a cottage. Let others build their empire.

[ccl]

Building a cottage is a good way to start.  Encouraging the people to bitcoins is not easy but look at it ryt now.  Am still learning more about bitcoins and telling it to my friends, family and colleagues.  Your service means alot to hardworking OFW's and their families.  Am sure in time with all these buzz bout Bitcoins your cottage will help build a community where honest trade exist and not abusive.

Thank you again for another successful transaction! )

[Dabs]

Bro, you build your cottage, someone else builds an empire, I'm building a "nipa hut". I think the major obstacle in this kind of business is the same as in regular money remittance services: we need liquid cash, the more the merrier.

[MadSweeney]

Regardless of the price bubble, I still offer this money transfer service. Price does not matter. Sell your bitcoins as soon as you buy them if using bitcoin to send money.

[Dabs]

Bought BTC from Mang Sweeney. Smooth Transaction.

[iTradeChips]

hi mga kabayang bitcoiners! paano ba maglagay ng comment o rating sa localbitcoins?

[alephi]

This topic caught my attention and it's what brought me to this forum initially and spurred my interest in bitcoin.

I've been observing bitcoin for a long time but it looked a bit too volatile and kind of geeky to be of real use to me.  My humble apologies to all bitcoiners for that, as reading through many posts on this forum and looking around with fresh eyes has altered my view quite significantly and the more I study it, the more sense it makes (at least until the power goes off anyway).  There's still some way to go before it becomes truly accessible for many UK persons, but it's getting there and it's mature enough for me.  There's a conflict between having an interest as a speculator and using it for sundry everyday stuff where sudden changes in exchange rates can be extremely inconvenient.  That risk will scare away the average person IMHO.

I've been quite literally fighting a running battle with Western Union, Xoom, Moneygram and Paypal for a long time over the simple act of sending money to the Philippines from the UK.  For some reason they all have a major problem with it, specifically on the US part of the operation.  I do actually resent having to supply quite personal details on the individuals I am sending to, what the money is for, where it came from, what my relationship to them is and so forth and then when I get blocked, being given no justification whatsoever, and no recourse to appeal.  That's not an issue with the UK end, it's the US end and I am a non-US person sending money to non-US persons in non-US currencies, with a home and a partner in the destination non-US country so WTF? 

I've come to the view that in essence, these companies along with Visa, Mastercard etc are operating a cartel to all intents and purposes.  If you have an interest in extending the availability of financial security, cheap money and access to global markets to the very poor, as I do, then this "cartel" is poison.  The idea that with a relatively cheap phone, you can make these things available via bitcoin to just about anybody on the social spectrum has immense appeal and it's sound logic going forward into an age where most people out of the 10 billion who will live on this planet soon will fall into the lower part of that spectrum. 

The Philippines is a case in point.  I deal with people in some of the poorest regions there and I do my utmost to keep young women and single mothers in education, provide funds for health care and other support, which would otherwise be cripplingly expensive for them.  To my mind, the "cartel" actively discriminates against these people (and any poor person) and is just one more obstacle to overcome in an already terribly difficult life.  However, there is a real possibility that the financial instruments such as bank accounts and Visa etc, along with their attendant demands and charges can be sidestepped with bitcoin and a mobile wallet. That's got to be a good thing.

That's where Mang Sweeney caught my interest...

[lophie]

Mang Sweeney, I think it is about time we take this idea to the next level. Lets talk more about this.

[MadSweeney]

I have changed for now the reference for my price quotes. I am using Bitstamp now instead of MtGox. So my quotes would be lower by roughly 400 pesos than it would have been if based on Mtgox price. I changed because I may have to sell the bitcoins at an exchange and Gox is having issues with USD withdrawal. 

[Newar]

I have changed for now the reference for my price quotes. I am using Bitstamp now instead of MtGox. So my quotes would be lower by roughly 400 pesos than it would have been if based on Mtgox price. I changed because I may have to sell the bitcoins at an exchange and Gox is having issues with USD withdrawal. 

You probably already know, but here goes anyway: http://bitcoinaverage.com/

[bitwarrior]

I have changed for now the reference for my price quotes. I am using Bitstamp now instead of MtGox. So my quotes would be lower by roughly 400 pesos than it would have been if based on Mtgox price. I changed because I may have to sell the bitcoins at an exchange and Gox is having issues with USD withdrawal. 

Hi MangSweeney,

Normally how many days before you receive the money in the Philippines if your using bitstamp?
Have you tried btc-e.com before when withdrawing money?

Thanks.

[Dabs]

@bitwarrior, I think MangSweeney means he is using the exchange rate displayed by Bitstamp. He has the actual fiat or bitcoins when you do a local trade with him.

[bitwarrior]

Thanks for this Dabs..

I am assuming that he is using bitstamp as well on cashing out some of his BTC, so I am asking if he has a good experience on using bitstamp service.

Well I am trying to sell some of my BTC , if anyone is interested just send me a pm... thanks

[MadSweeney]

Thanks for this Dabs..

I am assuming that he is using bitstamp as well on cashing out some of his BTC, so I am asking if he has a good experience on using bitstamp service.

I have been reluctant to use the large exchanges as I have been able to trade locally. So it might only be soon that I will find out how to actually withdraw funds from Bitstamp through bank wire.

[benzxi]

boss, nakikipag meet kayo sa manila if exchanging BTC?

[MadSweeney]

It's been a long while since I updated the OP. I find transacting through Localbitcoins.com as a more efficient way of running this service. There is automatic updating of the price. You get price quote immediately. Anxious new clients can use escrow right on the website.

Please go to my ad to make a transaction. If it says that trader is on vacation or out of bitcoins, try another day.

Also, would anybody be interested in trading Bitstamp ripple USD for pesos?

[tagbond]

I am heading to a Bitcoin meetup tonight (https://www.facebook.com/events/537512599665182/), and will be buying Bitcoins if I get a good rate.....

Just to let you know, I will be creating an exchange this week (using Bter.com as software), with linked balances to Tagcash.com and TagBond.com - I am also launching a new PoS/PoW Coin that will be traded and used as a universal rewards currency. For regulation, I am going through the process of being Bangko Sentral Licensed as an EMI (same as GCash and Smartmoney), which needs 100m Pesos ($2.5m USD) in paid up capital, and takes a month or so...

We will be able to take in multiple currencies, including USD in wire transfer format, but need to do KYC before transfer made - Picture, name, DOB, government ID and utility bill in the name.

Be nice to meet anyone who wants to chat more on this.. I will be the guy with the Tagbond Tshirt..

[Dabs]

I am heading to a Bitcoin meetup tonight (https://www.facebook.com/events/537512599665182/), and will be buying Bitcoins if I get a good rate.....

Just to let you know, I will be creating an exchange this week (using Bter.com as software), with linked balances to Tagcash.com and TagBond.com - I am also launching a new PoS/PoW Coin that will be traded and used as a universal rewards currency. For regulation, I am going through the process of being Bangko Sentral Licensed as an EMI (same as GCash and Smartmoney), which needs 100m Pesos ($2.5m USD) in paid up capital, and takes a month or so...

We will be able to take in multiple currencies, including USD in wire transfer format, but need to do KYC before transfer made - Picture, name, DOB, government ID and utility bill in the name.

Be nice to meet anyone who wants to chat more on this.. I will be the guy with the Tagbond Tshirt..

Hi Mark,

I won't be able to make the meetup, but do start a thread on your new exchange. I'd like to test it. And I'm still hoping your other company gets sold, but if not, I can dream huh...