GTA Online launched October 1, 2013 but with glitches and issues. Rockstar Games is also working on a Playstation 3 and Xbox 360 GTA Online Update to fix the issues where players can't access the online portion of GTA Online. The Playstation 3 update is ready for download now but the Xbox 360 update should be out sometime today. GTA Online also will allow players to purchase GTA$ which is the in game currency. However, players who purchase cash will not have an advantage over players who are playing through the game to earn the cash. Unlockable items are only obtained through reputation points in game and you can purchase special items once you obtain a certain level. This is a measure Rockstar is enforcing to keep the playing field fair and leveled.
More information can be found about the GTA Online update and other events on Rockstar Games GTA Blog.