Well, it's the second month in a row that my Cryptocurrency portfolio has seen a drop; but it did see a bit of recovery over the last week or so. I'm down by about the same percentage that I was last month, at -16.54%. Though, I'm still well and above my monthly growth target.
On the plus side, it seems that our global pandemic issue is FINALLY on the final downtrend--me and my fiancee are fully vaccinated, the numbers continue to drop even as we slowly reopen the province of Ontario, and vaccination rates are through the roof!
Maybe I'll get to go swimming at the rec center again soon, finally...
Total gross side hustle income for the month of June: $526.15
Still huge upsets from Cryptocurrency issues; more on that in a bit. Here's the breakdown:
- $628 from Nicehash, the MVP as always
- $106 from Youtube ad revenue
- $65 in Flipping sales
- $60 in 3D Print sales on Ebay
- $46 in Print on Demand sales, split between Society6 and Redbubble (still no sales on Zazzle or Teepublic)
- $25 from MyMiniFactory 3d model sales
- $6.55 in Amazon Affiliate sales
- $1.95 in dividends
- -$8.93 in LBRY token value loss
- -$405 in losses between Bittrex, Binance, and Poloniex
First, let's talk about those cryptocurrency losses.
This past month, Binance has announced that they will stop servicing Ontario-based customers due to some regulation or another; so I had to sunset my Binance account & trading bot instance--all remaining crypto was transferred to Bittrex. Bittrex is showing a profit, even after I accounted for the inbound coins from Binance. My Binance bot had seen a bit of a dip just prior to me having to close it down.
Bittrex, due to the inbound coins from Binance as well as an overall profitable trading month, is now currently sitting at 122% over it's starting value.
I still haven't sunset my Gekko trading bot, which is currently set to trade on USDT-BTT. It's lost some value, but the loss is below the loss rate of just holding the BTT token, so I remain cautiously optimistic that it can be profitable long-term... The idea is, since BTT offers 8% APY staking rewards calculated a few times a day; my idea is to mix this moderate profitable trading algorithm with staking rewards. It's an experiment, for now.
As for manual trading on Coinsquare; I am currently 'only' up by 104.22% over my starting base BTC value. my Coinsquare portfolio is entirely altcoins right now, all sitting on Sell orders that were placed before the prices plummeted a bit. It's always a balancing act of whether I should let them sit and wait for prices to recover and let the sell orders fire, or to cancel the existing orders and sell at current prices at a loss, with the hopes that time saved waiting can make up for the loss by making profit doing additional trades during the time that would otherwise just be spent waiting on prices to recover.
In the Print on Demand space, I had a huge uptick this month; after being almost completely dead last month; and still, absolutely zero sales on Zazzle or Teepublic.
I also saw an uptick in 3d model sales on MyMiniFactory, almost double what it's been the last few months (and actually, the highest it's been this year). Even had a few Amazon Affiliate sales, also the highest they've been this year--at a chart-topping $6.55...
I've also started getting back into flipping a little bit; as thrift stores and the like are back open again, and this is the state of economy where functional, useful items are in higher demand (rather than extraneous stuffl like fun t-shirts or 3d printable stuff).
My Youtube channel had a strong showing in June, despite me missing out on one week for a video release due to being extremely busy with Father's Day stuff that weekend. In fact, a lot of my more recent videos are seeing positive exponential growth in view counts/impressions, which is GREAT to see:
Metrics have either been really similar to last month's, or seen a slight uptick, further proving I've bottomed out in my rut and am starting to see the faint hints of growth again.
I think I can thank my focus on three main pillars of improvement for my change in improvement:
- Strong focus on SEO for people to find my videos
- Improved thumbnails and titles to get people to click on my videos
- Guideline 'bible', tighter editing and scripting, tightening in on sub-niches, and viewer video topic polls to get viewers to stay longer throughout the video
Discovery, Conversion, and Retention--the three foundational elements to a successful youtube channel, and ones I am really trying to hone in to grow.
Metrics for June:
- Published three main videos, one less than target one-per-week target schedule due to one busy weekend preventing me from doing so
- At 3263 subscribers, up 199 over previous month
- Subscriber growth rate: 6.49%, slightly less than last month's 7.17%
- Average daily views throughout June: 474, marginally less than last month's 476; or a -0.42% drop
- Average daily subscribers throughout June: 8, up over last month's 6; or a 33.33% increase
Next up, let's take a look at the work items I wanted to do in June:
- Four new main Mike in the Woods videos
Only three, due to being super busy one weekend - Update
banner image & social media profiles to reflect niching down into
three primary niches: Electric skateboard backpacking, Cybertruck
overlanding, and backcountry tech
Done - Sunset Gekko permanently and investigate lending on Poloniex
Investigated, but decided on different algo balancing 8% APY staking rewards and slow but profitable (in testing) algo - Three new Shapeways/MyMiniFactory listings
Only two - Look into replacement motherboard for Mining Rig 004
Did a bit of research, too expensive. In the mean time, actively trying to stabilize other rigs before focusing entirely on Mining Rig 004
All in all, not bad; major loss was in the missed Youtube video upload, but that was a one-time thing. I have content planned out all the way through September, plus a very large backlog of video ideas.
Here's what I'm looking to accomplish in July:
- Four new main 'Mike in the Woods' Youtube Videos
- Stabilize cryptocurrency mining rigs 003 and 005 as much as possible
- Further steps on fixing Mining Rig 004 and returning it to active service
- Three new listings in any combination of 3D Printing (MyMiniFactory & Shapeways) OR Print on Demand (Redbubble, Society6, Teepublic, Zazzle)
- Rejig Patreon Reward tiers to simplify, and re-implement as Youtube memberships
And finally, a look at my investment portfolio:
Saw a loss of -16.54% this month; less than last month's -18.05% loss, but a strong loss nonetheless. Cryptocurrency be like that. At least my meager stock portfolio saw an uptick. I'm still not worried, because I'm still well above my target ($35k versus a target of $4.7k), and crytpocurrency is jut as likely to 100x in the next month as it is to dip in this one. Long term hodling diamond hands.
If you find these posts helpful, and you are interested in cryptocurrency, try signing up for Binance! It's a widely-known cyrptocurrency exchange (think stock exchange, but for crypto). It's free to do so, and by using my referral link we'll both earn 10% of any trading fees you pay.
https://www.binance.com/en/register?ref=WZKZ16ZW
See you next post!
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