Oof. This has not been a great month. Both financially, as shown in the numbers here, and some stuff going on in my personal life which I'm not quite ready to discuss (ill family member).
Crypto took an absolute dump on itself this past month, and we're entering full-steam into a recession. This is reflected by one of the worst-performing months in terms of project revenues in a while, at $515; and a continued investment portfolio month-over-month loss of -17%.
Let's break down this crap show:
- $222 from Nicehash; Steeply reduced mining profits combined with undeposited coin value loss. Actually sat in the negatives for most of the month, only recovering a bit over the last few days.
- $131 in Youtube ad revenue
- $105 in Flipping sales; funnily being the exact same revenue as last month
- $43 in Print on Demand artwork sales via primarily Redbubble and a bit of Society6
- $32 in direct 3D print sales on Shopify
- $18 in Amazon Affiliate sales via Youtube video description links
- $12 in 3D model sales from MyMiniFactory
- $8.20 in net dividend gains
- -$2.12 in Lbry token value loss. Token count has been static so this is purely value change
- -$18 in Signum value loss despite nearly full-speed mining
- -$37 in value loss from cryptocurrency trading bot trading losses (huge market downtrend upsetting winning algos) & value loss.
My secondary tentpole project; Cryptocurrency-related shenanigans:
My mining rigs are the same as ever--more and more fans breaking down, faster than I can repair them. Profitability has taken a HUGE hit this month; right now the entirety of my rigs are only generating around $15/day in BTC equivalent.
My trading bots saw a huge hit this month due to the market downtrend. My Binance bot got halved from it's all-time profitability peak of over 500%; and the Bittrex bot--surprisingly--is only a bit down from what it was last month.
Using raw numbers from last month's post, the Binance bot has dropped from 478.2% to 199.52%; and the Bittrex bot dropped from negative 94.47% to negative 94.74%.
Once the algorithms balance out from the massive market shift, it will be interesting to see if it starts to go back up.
I made some progress on my trading bot re-write, but not as much as I would have liked--I'll try to continue some progress this coming month, but I need to slow down on overall work for June.
Binance referral count check-in shows that it's still the same as last month:
On the hard drive mining front, I decided to just set up the three drives I accumulated for the last remaining rig, and then consider the project fully complete. So I'll have the final hard drive plotting & Signum miner setup as work items for this coming month and that will be it, unless I see opportunity for improvement/upgrades in the future.
Odysee (the blockchain-based Youtube alternative) remains stale, no additional tokens earned at all. But, again, it takes no additional effort on my end to mirror my Youtube uploads there, so I can let it run in the background in a holding pattern if I don't want to spend any specific time on it.
On to my primary tentpole project: Youtube.
Towards the end of last month, my metrics were dropping into a bit of a rut; but starting at the beginning of the month, things have been slowly trending for the better. Red line on graph shows roughly where the start of the month is.
I managed to get out four videos this month. Almost almost managed five, but had to drop my last video at the last second because of the personal life issue I mentioned at the start of this post.
Of the four videos, three of them started reasonably strong out of the gate, but petered off over time and don't show any signs of what I call the 'curve flip' -- where the algorithm slowly finds the right audience and the view graph stops flattening out and starts curving back upwards.
One video--my latest one about a 3d printed buck saw--had a random huge upswing of views for a few hours, before dying like the other ones. It does show some signs of potentially seeing a curve flip, as 3d printed gear videos tend to be my most consistently performing.
Youtube metrics for May:
- Published four videos; had to cease production of the fifth one at the last minute
- At 5,610 subscribers; up 205 over last month
- Subscriber growth rate: 3.79%, down over last month's 4.4%
- Average daily views throughout May: 647, down from last month's 660; or a decrease of -1.97%
- Average daily subscribers: 7, down from last month's 8
For the third tentpole project, it's been slowly petering out as recession sets in and people focus on more utilitarian purchases and reign in excessive spending.
Work items I set out for May, and how I fared:
- 4x new Mike in the Woods videos
Completed! - Maintain 200 active Flipping listings
Completed! - Evaluate Mining Rig 001 to see if 6 HDDs is still possible
Completed! - Based on Mining Rig 002 evaluation:
- If only 3 now possible, plot drives & set up rig for Signum mining
Didn't complete, moved to this month's work list - 1x New Print on Demand artwork listing
Nope - 1x New 3D model listing on MyMiniFactory/Shapeways
Completed two, in lieu of not doing 2D artwork - Continue porting backcatalogue of Print on Demand artwork to Spreadshirt
Stopped work on this, decided to just add new artwork going forward - Replace fans on lone Mining Rig 003 GPU
Fans still have not arrived - Tweak Bittrex instance of Automated Trading Util
Completed! - GAIA Crytpocurrency Trading Tool - Get scrollable list of strategies functional
Completed!
Hit the majority of my work items, with only a few lower-priority ones falling by the wayside.
Here's my goals for June (I fully expect to miss these targets due to prior life stuff discussed earlier):
- 4x new Mike in the Woods Youtube videos
- Maintain 200 active Flipping listings
- Plot hard drives for Mining Rig 001 & execute Signum mining rig setup runbook
- Replace fans on Mining Rig 003 GPU
- Gaia Cryptocurrency Trading Tool:
- Create Binance test API for paper trading (partially completed)
- Implement strategy allocation percentage so a given strategy only utilizes a certain percentage of available funds at max
- Create basic Staking strategy (holds funds & rebalances as needed)
- Ability to add & remove strategies
Next up, a look in on my investments, which saw another considerable -17.09% drop. Stocks saw a tiny bit of gain, but overall, it's all drops bro.
Still above the target of where I need to be, but that gap is closing fast...
Second last, an update to the weighting:
The balance of stocks vs crypto is evening out, as stocks are relatively more stable compared to the sheer cliff face that Crypto's fallen off of.
And lastly, a new metric I'll start tracking in these blog posts: How far I made it in the month to my target FIRE monthly funds--the equivalent of $80k a year.
The number for this is the combination of project income for the month, plus the monthly breakdown of my total savings using the 4% rule (4% of your savings, divided by twelve to get the monthly allotment.
As you can see, some months I've actually been getting surprisingly high up that ladder... as high as 20% (one fifth of what I'd need).
Sadly, this month, I sit at a much sadder 8%. Haha.
That's it for this month. Hopefully I have better numbers next time...
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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cant sign up for binance. it says im in a restricted area
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