Haha, both the cryptocurrency markets and the stock markets took a downward trend this month, resulting in a portfolio loss of -18%; though I did manage to remain consistently above the $1k gross revenue mark at $1,146.
My income was a bit more diversified this month; making 3D print sales via Shopify and Bonanza both; some MyMiniFactory sales, and so on.
Let's dig right into the breakdown of my income numbers for April:
- $485 from Nicehash; largest performer but took a hit due to previous mined payout sitting in the wallet losing value, affecting total for this month
- $344 from 3D print sales via Shopify and Bonanza
- $134 in Youtube ad revenue
- $105 in flipping sales; it's been a bit of a slow month
- $26 from Amazon Affiliate sales
- $21 from 3D print on demand sales on Shapeways
- $19 in Print on Demand sales, even worse than last month despite higher traffic
- $10 via MyMiniFactory 3d model sales
- $8.28 net gain in Crypto Trading bot between Bittrex and Binance. Bittrex held flat but saw loss in value, while Binance saw profit
- -$1.17 in value loss in Lbry tokens (haven't earned any since last month)
- -$1.33 value loss in Signum tokens, despite mining being at almost full swing (value loss outpaced Signum gains)
- -$6.72 from stock dividends vs account fees
First up, let's dive into my #2 project tentpole for 2022: Cryptocurrency.
I'm really starting to feel the heat with my various GPU mining rigs. Most of them are almost 3 years old, and they're showing it. They're breaking down more often (failed fans on GPUs, blown power supplies, and other issues) requiring frequent attention (a non-negligible amount of my time this past month), and the earnings aren't what they used to be. (Compare this year with last year). The plan is to maintain them as best I can, as I'm done expanding my mining rig setup for the most part. For now, anyways--I plan on purchasing a house with the wifey in the next few years, and the plan is to get a really strong solar power setup so that I can run my rigs off of that. Until that point, I'm in a holding pattern with my current rig setup.
With my homebrew cryptocurrency trading bot, I have a net profit between the two instances (one running on Bittrex, the other running on Binance); the Bittrex one performed at a bit of a loss while the Binance one saw really, really good gains.
As you can see, I've almost doubled my Binance holdings, between affiliate signup earnings and profitable trades (though keep in mind we're at small numbers here--current Binance portfolio value is at $43 USD).
Since it's working profitably right now, I think I'll leave the Binance bot instance be; but the Bittrex one definitely still needs tweaking. The switch to 'win to loss ratio' for strategy selection didn't quite seem to do the trick. I might swap that back to sheer profit, and drop the order timeout to like a day or two instead of two weeks. Additionally, I might re-institute the 'last X profitable days' requirement to make a given strategy require the last few days to have been flat or profitable to be selected. This, I think, is the best way to weed out strategies that get like, those weird 1000% gain days and then the rest all losses, skewing the test results.
Speaking of trading bots--I finally schemed up what my major project will be for trying to bring in Binance referrals: I'm re-writing my trading bot from scratch, for public release. I am calling it the 'Gaia Cryptocurrency Trading Tool.'
It will be a completely free program to download and use, with a Binance referral link pasted front-and-center for people to sign up if they haven't already. This will hopefully facilitate an exponential growth curve of downloads & resulting Binance signups. And, of course, I aim to make the tool actually work well, so I will make use of it too!
Unlike my current version, which is moreso made for my own personal use and not designed with an average user in mind, mine will be rewritten from scratch using the WPF platform (instead of the WinForms platform it currently uses), and the largest notable differences will be:
- User can have multiple strategies simultaneously, allocating a percentage of their Binance holdings to each
- Initial supported strategy types:
- Staking: Holds percentage of user's funds in a given asset. Will auto-adjust to maintain percentage.
- Trading - Auto: Similar to how my bot functions now, it will automatically select the best trading algorithm, but limited to a specific trading pair rather than all possible trading pairs.
- Trading - Fixed: User-selected strategy for a specific trading pair.
- Potential future strategy types, based on feasibility with API:
- Shorting - Auto: Short position on asset with automatic strategy selection.
- Shorting - Fixed: Short position on asset with user-specified strategy.
- Margin Trading - Auto: Similar to trading - auto strategy, except trading on margin.
- Margin Trading - Fixed: Similar to trading - fixed strategy, except trading on margin.
- Lending: Bot will loan out funds.
- NFT Flipping: Bot will purchase NFTs and relist them at a percentage higher price based on trending price of a given NFT asset
- Rather than live test all BTC trading pairs and all strategies, it will be limited to a single trading pair for any base currency
I have a significant start to the project already underway, but nothing worth showing (visually) at the moment. Given the potential I think this project has, it will be a strong focus of my work going forward at current priority.
As well, with the goal of this tool being automation, I see paths forward to eventually grow this tool into a more general passive income automation tool named the 'Gaia Passive Income Automation Tool". With the idea of having anything that can be automated for income added to it.
For now, though, my Binance referral count remains unchanged:
With Coinsquare manual trading, I'm down to -30% from my base value. Bear markets suck. Though, recently, Coinsquare let me know that they're migrating everyone over to a new platform, so it will be interesting to see what new assets are available and if they will have their own API again!
With my GPU mining rigs, I have one rig that started misbehaving while I was away filming a trip video for Youtube yesterday, so I have to fix it (seems to just be crashing when Nicehash algos start running). Most of my GPUs are back up and running with replaced fans, except one which I need to buy a set of fans for. I also had to solve an issue for Mining Rig 001 which had a Sata cable coming out of the PSU fail, which took longer than it should have to diagnose.
On the hard drive mining front, I have 3/6 drives; I'm considering just going with 3 for my Mining Rig 001 because I had three of my SATA power connectors become useless from a burned out cord, so if I don't have a way to replace/fix that, I can only run three HDDs on this rig for hard drive mining--meaning I've already maxed out my initial HDD mining capacity. I'll have to take a look and evaluate before buying any more drives.
On the Odysee front, things continue to be pretty stale there. I get around 7-10 views a week, but my Lbry token count has been relatively static for a couple months now. The values you see reflected in the breakdown are just from value fluctuations up or down.
Next up, let's talk about tentpole project #1 for 2022: Youtube.
In this 365 day chart, you can see that things have remained pretty flat, maybe even a slight downtrend.
Now that the warmer weather is here I can really start leaning hard into my proper niche of electric rideable touring & backpacking; and while my winter trip videos & after action reports have been relatively poorly performing, my last two videos--A review of the Boundless Voyage 2900ml titanium pot, and how to plan an eskate backpacking route, respectively--have seen some upward exponential trends over the last couple days. This signifies to me that they are starting to get shown to the right audience, and will hopefully bring in some fresh growth to the channel.
I've also recently dived back into educating myself on how to make good videos, so I have some more improvements from notes I've taken that I'll be applying to my videos. We'll see if I can kickstart a new growth trend now that the warmer weather's here. Need to smash that 10,000 subscriber goal sooner, rather than later!
Youtube metrics for April:
- Published three videos; in line with my target minimum but short of my 4 optimal
- At 5,405 subscribers; up 230 over last month
- Subscriber growth rate: 4.4%, down over last month's 5.5%
- Average daily views throughout April: 660, down from last month's 676; or a decrease of -2.4%
- Average daily subscribers: 8, on par with last month's 8
For the third tentpole project, Print on Demand & digital asset sales, there's not much to report. I earned less in the print on demand space, even though overall traffic was up over last month; though I did make a few sales on Shapeways and MyMiniFactory which boosted my numbers a bit.
I also had some 3D print sales on Shopify and Bonanza, which means physical products I have to print and ship myself. Definitely a higher than average month for that in April.
And now, we look at the work items I set out for in April and how I fared:
- 4x new Mike in the Woods Youtube videos
3 minimum completed (took a week off) - Maintain 200 active Flipping listings
Completed, though I have two on the board right now I need to list - Acquire six hard drives for Mining Rig 001 Signum mining (2/6 acquired)
Ongoing, 3/6 obtained (may only use 3 and close this out) - 2x new 3D model listings for Shapeways/MyMiniFactory
1 of 2 completed, product idea for second one present but not finished - 1x new artwork listing for Print on Demand sales channels
Nope - Continue uploading back catalogue of artwork to Spreadshirt
Nope - Replace failing fans on Mining Rig 003
Completed! - Binance referral link promotion implementation:
- Youtube description -- Clean up & move links higher in description
Decided not to, since YT audience is not target demographic for crypto - In-between monthly blog posts on various passive income ideas & projects
Started brainstorming ideas & did one off-cycle post - Investigate re-starting Twitter posting bot
Completed; not feasible - Add links in descriptions of relevant listings on Shopify, Shapeways, MyMiniFactory
Decided not to - Test Facebook ad campaign for blog post link
Decided not to
You can see I missed out on quite a few work items, but I am keeping in line with priority--Youtube first, then crypto stuff, then print on demand & digital asset sales.
Now we look at what work items I'm setting out for May:
- 4x new Mike in the Woods videos
- Maintain 200 active Flipping listings
- Evaluate Mining Rig 001 to see if 6 HDDs is still possible
- Based on Mining Rig 002 evaluation:
- If 6 HDDs possible, continue acquiring HDDs
- If only 3 now possible, plot drives & set up rig for Signum mining
- 1x New Print on Demand artwork listing
- 1x New 3D model listing on MyMiniFactory/Shapeways
- Continue porting backcatalogue of Print on Demand artwork to Spreadshirt
- Replace fans on lone Mining Rig 003 GPU
- Tweak Bittrex instance of Automated Trading Util
- GAIA Crytpocurrency Trading Tool - Get scrollable list of strategies functional
Next up, a check-in on my portfolio, which saw a drop to the lowest value it's been this year with a -18.73% drop:
Really starting to feel the heat. This is getting rather embarassing... nothing to do except keep mining, keep investing, keep pumping money in to DCA my way up over the long term.
Lastly, let's take a look at my portfolio weighting:
The drops have moved it slightly more in favor of stocks, which are now close to 1/3 the weighting; it will be interesting to see how these numbers evolve over time.
That's it for this month; hopefully I'll have some better news on the portfolio front next month!
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.
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