Well, f*ck me if that wasn't the roughest month on record yet.
My net side hustle income for June is... are you ready for this... a meager $52. My investment portfolio didn't fare much better, seeing another -15% loss month-over-month.
This is a phase of getting beaten down. Nothing to do but square up and take my licks until I'm out the other side of all this fun, however long it lasts (we might be right on top of a recession).
Anyways. A breakdown of all revenue, as always:
- $150 from Youtube ad revenue, marking the first time ever that this income source has taken the top spot on a monthly breakdown
- $117 from flipping sales, a marginal improvement over the previous few months
- $42 in Amazon Affiliate sales, an above-average amount and the highest it's been this year
- $41 from Shapeways 3d print sales, the highest it's been this month and well above average
- $21 from Print on Demand artwork sales via Redbubble & Society6
- $5.11 in 3d model sales from MyMiniFactory, the worst month this year for this
- $2.08 in dividend income after accounting for fees
- -$0.41 in Lbry token value loss (marginal token count increase since last month)
- -$1.94 in Signum value loss, despite Signum mining almost full steam ahead
- -$12 in losses between my two trading bots on Bittrex & Binance
- -$311 in losses via Nicehash undeposited value drop, despite ongoing mining
As I broke down in my End of Year update, I have three main tentpole projects that I'm focusing on: Youtube, Cryptocurrency, and Print on Demand/Digital Asset Sales.
Let's take a look at the one that wholesale shit the bed this month: Cryptocurrency.
Let's take a look at that glaringly red elephant in the room: That Nicehash number of -$311.
When you mine on Nicehash, it accumulates what you've been paid out in your mining wallet. When I report my Nicehash earnings, it's the value contained in this wallet minus the value from the previous month, sans any withdrawals that were made.
Once I'm ready, I transition the earnings in this wallet over to my primary holding wallet, where I lock in the value of the coins in the earnings.
I haven't transferred in some time, so I've accumulated quite a store of BTC in that mining wallet. And what's happened this month, is the value of BTC has dropped so much, that the value of BTC has dropped faster than the overall payout of BTC to that wallet could increase it--causing the loss represented on the page.
I replaced the fans on one of Mining Rig 003's GPUs and tried to get it running again, but the AMD drivers refuse to have anything over 3 GPUs on that rig work--one always shows up as not working (and it changes which one depending on circumstance--I know all four work). Need to reinstall the drivers and see if I can't get all four working together properly.
I've finally stabilized my rigs by disabling everything except BeamV3 on my AMD rigs, since switching algos seems to be the trigger for crashes most of the time and BeamV3 seems to be the most stable. Far from optimal, but I'd rather 100% uptime than be minmaxing the earnings while having to restart the rig multiple times a day. As of now, the entirety of all my GPU rigs are making about $12 a day ($CAD).
Comparatively, the two trading bot instances have fared much better, only losing a combined $12 due to value loss. For actual trades, they haven't made many, due to the algorithm smoothing out and picking something that hadn't lost much during the live testing during the huge crash. The Binance bot has dropped a bit from 199.52% to 181.97%, and the Bittrex bot is actually up to -94.21% from -94.74%.
This is the smooth-out period, next month I predict I'll see a marginal increase on both.
With manual trading on Coinsquare, I've had to halt since the switchover to the new Coinsquare program, since it doesn't have BTC trading pair limit orders.
I made some progress on my rewrite of my trading bot, for public release (initially only supporting Binance):
- Paper trading Binance API to read real prices, but use a fake made up balance for live trading (for initial testing and customer use as a paper trader)
- Basic Holding strategy that allocates a percentage of the user's portfolio to that fund, buying and selling as needed to maintain the specified weighting
- Support for allocated percentage to a given strategy
- Button for adding new strategies (haven't finished the functionality for this yet)
- Various tweaks to UI and behind the scenes flow
As I've mentioned previously, this project is meant for public release for free, as part of a plan to get Binance affiliate income from signups using my link, and have fees paid to me from the trades organized by the bot. The goal is to make a profitable bot for the end user, so that it's a win-win.
I already have 107 signups using my link from and old Twitter bot campaign I ran, which hasn't increased--but I did see one more from those signups start actively trading (17 now, instead of 16):
On the hard drive mining front, I was all plotted & ready to go with the last set of hard drives; but I wound up burning out a second set of SATA power cables from the PSU, meaning the last set is now powering my GPU risers and I have none left to power the hard drives. So before I can finish the Signum setup for this, I need to completely replace the power supply on my oldest mining rig.
Sadly, despite strong HDD mining ongoing, the value of my Signum holdings has continued to drop due to the crypto market crash.
Not much to report on the Odysee Lbry token side of things; marginal increase in token count, but minor value loss.
On to the primary tentpole project, and one that surprisingly well-outperformed the Crypto projects this month: Youtube.
My metrics are continuing to slowly climb.
I only managed to publish 3 videos the four planned, because I got super busy on the last weekend and didn't have time, so I decided to just take a week off. Three videos a month is my minimum target, so I'm still on spec.
My three videos were all electric skateboard backpacking content; two episodes completing a trip I started last year, and one as an after-action report discussing the trip. The final video that got delayed was a 3D printed mount to allow any battery to be used to charge USB electronics.
I had a huge amount of inspiration for channel ideas this month; and I don't want to spoil a lot of them by discussing them here--but as a small sample, two projects that are known to my Youtube community that I'm workiong on right now are an electric snowboard for winter backpacking, and an autonomous inflatable boat for canoe tripping type adventures.
I made some project on that electric snowboard build. I ordered in the case that will hold the batteries & speed controller; and also the nuts/bolts/washers to bolt everything to the deck. Drilled the holes and mounted the case to the deck, but I still have to make the bolt heads flush with the underside of the board by sinking them in a bit (otherwise there will be considerable drag).
Here's my Youtube metrics for June:
- Published 3 videos; short of the 4 targeted, but within spec of the minimum 3 per month goal
- At 5,838 subscribers; up 228 over last month
- Subscriber growth rate: 4.06%, up over last month's 3.79%
- Average daily views throughout June: 691, up from last month's 647; or an increase of 6.8%
- Average daily subscribers: 8, up from last month's 7
For the third tentpole project -- Print on Demand artwork sales, and digital asset sales--saw some interesting metrics this month. I had my best month this year on Shapeways, but the worst month this year on MyMiniFactory. Redbubble & Society6 didn't do too hot either.
Okay, let's take a look at the work items I set out to do in June, and how I fared:
- 4x new Mike in the Woods Youtube videos
Maintained my three video minimum - Maintain 200 active Flipping listings
Kept on track, though I have two currently that I need to list due to recent sales - Plot hard drives for Mining Rig 001 & execute Signum mining rig setup runbook
Executed, but had to detatch HDDs due to failing PSU SATA power - Replace fans on Mining Rig 003 GPU
Completed & attempted to reintegrate, but having driver issues with >3 gpus - Gaia Cryptocurrency Trading Tool:
- Create Binance test API for paper trading
Completed - Implement strategy allocation percentage so a given strategy only utilizes a certain percentage of available funds at max
Completed - Create basic Staking strategy (holds funds & rebalances as needed)
Completed - Ability to add & remove strategies
Started
Goals for July:
- 4x new Mike in the Woods videos
- Maintain 200 active Flipping listings
- Reinstall drivers on Mining Rig 003 and try to get four GPUs working together properly
- Electric Snowboard build:
- Finish mounting battery & ESC case to board properly
- Order Hub motor
- Preliminary work designing flexing mounting arms for motor
- Cut out wheel well out of deck
- Gaia Cryptocurrency Trading Tool:
- Finish ability to add & remove strategies
- Basic updating loop to get advice, make trades, and update UI
- Start live testing with paper trading w/ three Holding strats
Now for a look at investments:
I saw another loss this month, to the tune of -15.55%. Mostly in crypto, but some stock value loss too. Still above target, but that gap has closed real quick...
And, a look at weighting:
You can see the relatively more stable value of stocks causing the balance to continue to shift to a more even split.
And finally, we take a look at how I did in terms of my monthly income FIRE goal, split between savings (4% rule) and income:
All thanks to that meager $50 net income for the month.
That's it for this month, let's hope July is more favorable.
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.
#financialfreedom #financiallyindependent #financialindependence #financialindependenceretireearly #passiveincomeinvesting #passiveincomestream #passiveincome #sidegig #sidehustles #sidehustle #wealth #makingmoney #wealthbuilding #incomestreams #incomestream #passiveincomeideas #passiveincomestreams #passiveincomeclub #passiveincometips #passiveincomemethods #sidehustleideas #sidehustler #sidehustlers #sidegigs #sidegiglife #sidegigsuccess #passiveincomesuccess #sidehustlesuccess #sidegighustle #entrepeneur #creatingwealth #investmentportfolio #income
No comments:
Post a Comment