The year is nearing to an end so time to review the long term roadmap. The highlights of this year are: – Establishment of the Carpathian Community Node on COTI – Establishment of Carpathian Basin Kft as a corporation – Launch of TronNetwork.store
Using the Carpathian Node on COTI Blockchain as a proof of concept, now preparations are on the way to set up a collaborative node on Orion Protocol as well. The legal framework is on the way to finalization and the participants have been found.
This will be one of the first Democratic run collaborative nodes on the Orion Protocol
August was the month of the founding of Carpathian Basin Ltd (Kft.) This marks the first big milestone in the road map for Carpathian basin. Besides managing the investment portfolio, Carpathian Basin will become the home of several Blockchain projects. The first being running the Carpathian Node on COTI blockchain.
September is the month of disappointment with the fall of CITYUPTAKE, which forces new directions and re-evaluations of actions taken so far.
October will be the month of excitement, with the official launch of the newest project being born in the Carpathian Basin set up. The intention is that this little offspring will grow up soon and will be able to stand on its own legs very rapidly. More details will follow!!
Sometimes in life you get roadblocks or setbacks, which hit pretty hard when they occur, but soon after teach you valuable information.
The issues with CITYUPTAKE (how ever the end will be) have thought me to act more on my discomfort with little things, some would call them red flags.
The other learning is, when becoming part of a team, always strive for full transparency with open and consistent communication.
Being part of the CITYUPTAKE agent team has led to a big loss in funds, how big is still to be seen, but even more importantly my name has been connected to a project which has left a bad smell. People have lost funds by a project represented by me.
So no more huge ambitious projects as a team member where the requirements of transparency and communication are not met. There where I would handle the assets of other people this will only be done in a solid and legal structured in full transparency.
With having Carpathian Basin Kft. (Ltd) established the framework for this has been set. The Carpathian COTI node cooperative will be upgraded from legal point of view and this will become a blue print for other small scale Node cooperations in other blockchains like Orion Protocol.
Besides that another project is in preparation with a solid team of trusted professionals. This one will launch on October first and more details will follow.
Finally all efforts will be put in place to recover as much funds as possible for the investors in the Pi token who got severely impacted by the CITYUPTAKE happening.
Month number 18 of the #111Months challenge has finished, time for a new status review.
The road to financial freedom is looking more promising than ever before. The last three months a full recovery has occurred from the weak start of this year. A big important step has also been initiated in June, which is the incorporation.
Per beginning of August, Carpathian Basin will become Carpathian Basin Kft (Ltd.). As a corporation through Hungarian tax law, the taxation on earnings will be much more beneficial than taxation as an individual (9% vs 33%). This helps building up the investment portfolio in a higher speed than doing it as a private individual. On top of this expenses, like webhosting, wifi, office equipment etc can be deducted from the profit, further bringing down the tax pressure.
Portfolio build in June
In June, the focus was on building portfolio in Crypto and shares while continuing to pay back loans. In Crypto the position in $CITYUPTAKE (TRX), $Pi (TRX), $BTT, $CHZ and $COTI was increased significantly. Because of the staking returns for staking $BTT in Dlive, the BTT position was build up quickly and is daily increasing. For $COTI running the node, with the resulting staking is bringing monthly natural growth, just as CITYUPTAKE and Pi. For BTT and COTI a new target should be considered as the goal has already been achieved.
The wealth building has seen a little sprint in June. 4.6% of the final wealth goal has been achieved. With an increasing amount of passive income generating assets, the wealth build will increase especially once all loans are eliminated. We are slowly leaving the linear growth as the goal is to get in a state of (semi) exponential growth.
While the wealth is growing the distribution is changing. It is mainly the loans which proportion is decreasing while the crypto proportion is increasing. In the end the goal is to achieve a similar proportion for crypto as for shares and in a later phase also real estate.
With the increase of passive income generating assets, the passive income increases. Adding BTT had a big impact as well. The successful month of February could not be replicated yet, but the trend is clearly positive. A level of 13,1% of the income required to retire is already achieved. The value of crypto assets has a huge impact of the level of passive income achieved.
All in all the road to financial freedom looks very promising with still 93 months to go.