#111Months – 18

Month number 18 of the #111Months challenge has finished, time for a new status review.

111Months – June 2020 update

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.

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.

June 2020 Crypto portfolio vs target

Wealth build

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.

June 2020 – Wealth build vs forecast

Wealth distribution

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.

June 2020 – Wealth distribution development

Passive Income

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.

June 2020 – Passive income trend

All in all the road to financial freedom looks very promising with still 93 months to go.

#111Months – 17

A month has passed, time to review the progress in the #111Months project.

The goal of the #111Months project is to achieve early retirement at the age of 55. When I was 111 Month away from that, I started the #111Month project, created a targeted wealth and a targeted passive income enabling myself to retire from corporate life and move into managing and extending my passive income generating portfolio through Carpathian Basin Ltd.

111Month-17 dashboard

With a nice small crypto run just before the end of the month, the wealth build is back on track. Also the share values recovered nicely, so the dip which occurred 2 months ago has been eliminated.

Passive Income

Passive income May 29

Most of the tokens held for passive income have been performing well.
– BTT has recently started it’s staking project on the DLive platform which has been consistently delivering around 40% annualized returns.
– COTI has finished it’s first month with Carpathian Basin running the COTI Community Node, now rebranded to Carpathian Node, delivering more than 40% annualized returns.
– CITYUPTAKE is still consistently delivering more than 30% annualized returns.
– CITY Alpha is generating solid returns combined with its progressive reward generating program.
– Pi gives 18% annualized return with full flexibility.

Only WINk has not delivered stable returns the results fluctuate day by day. On a good day, I use the rewards to increase the WINk stake on a bad day, I am using the rewards to buy Pi and increase that stake.

In general I am ahead of the plan of building my portfolio of passive income generating tokens due to the good returns of the tokens held and due to the low price of Crypto still

Plans for June

The main focus for June is:

  1. Continue to drive for increasing the portfolio of passive income generating crypto tokens
  2. Increase regular share portfolio
  3. Give full support for CITYUPTAKE, Pi Token and COTI to be part of their succes
  4. Start incorporation of Carpathian Basin to reduce the Tax impact of Crypto earnings helping to build Carpathian Basin quicker.

Carpathian Node

COTI Community Node

During the month of May we were running the COTI Community Node, but after the Node Operators have been asked to set up their own fee’s, we have been re-branded to Carpathian Node.

List of COTI nodes.

Our node fee of 0,09% is average compared to the nodes, and the maximum fee of 90 COTI is lowest together with the Veru Node. With that giving the best value for Merchants with high transaction values, while the Merchants with lower transaction values are better off with Rufys or Bitcoin Browns.

Passive Income

Regular update on the progress of the portfolio of Passive Income generating tokens held.

Time for a new update on the passive income goal for 2020.

Passive income update May 18, 2020

Due to the positive results of staking of BTT on DLive I have increased the target of the amount of BTT to hold by the end of the year. This is actually the third token out of the 6 passive income generators for which that decision has been taken. And as the value of crypto is still low, it is still cheap to further build the position in all of them.

Returns on staking BTT until May 18.

Although the target is kept the same, CITYUPTAKE is still going strong and besides buying more CITYUPTAKE the rewards received are used to increase the stack of BTT and Pi-token in the last couple of weeks.

Returns on CITYUPTAKE until May 7.

As CITYUPTAKE accounts for the biggest portion of my passive income generating tokens, it is bringing the biggest income impact as well. Although with the heavy push on other tokens, that portion has been decreased from 49.3% a couple of weeks ago to 48.5% currently:

Passive income generating coins portfolio split May 18

$COTI, $BTT and $Pi token have increased their share, while $CITYUPTAKE and $WINk didn’t increase quick enough to maintain their proportional share. All in all a good foundation has been set for future income generation to support the #111Months project.

#111Months

Month 16 the month of recovery

With the ending of the 16th months of the 111 Months challenge, it is time for a new recap. While the end of month 15 was a drop back due to the value drop of Crypto and the general impact of the COVID19 on the market, April shows the month of recovery.

#111 Months, update 16.

Staking

Having significantly increased my holdings of CITYUPTAKE, CITY Alpha & Pi Token, I have been building further on solid increase of passive income, this doesn’t show yet due to the low value of crypto still in the majority of April.

Besides that being appointed Community Node for COTI, allows a significantly higher amount to be staked and also the start of staking BTT in Dlive brings some great expectations for the future.

COTI staking results for April
BTT staking results to date

So with all the above, there is great trust that soon we will reach a passive income equal of 15% or more of the final goal.

Wealth

A great recovery of Crypto values and a decent recovery of share values has boosted the wealth. On top of that a considerable investment was done in COTI to fill up the granted staking slots, which resulted in some everyday cost cutting but resulted in a nice wealth boost.

Due to COVID actions, salary was temporay cut, but also loan repayments were stalled by the government. This kept the monthly spendable income on par, but the result was that loans are not being re-payed, slowing down the decreasing of the loans as part of the financial overview.

To further balance the wealth portfolio, I have also started stocking up precious metals like gold and silver, to have create an easy to liquidate portion of my wealth with a stable value.

Distribution of wealth over the 5 mayor categories.

COTI Community Node is live!

The node is live, work is starting

We are proud to announce that our COTI Community Node is live now!

It is now part of the selection of nodes to choose from when planning transactions on the COTI Network:

Selection of active nodes on the COTI network (May 1, 2020).

We are now setting up our Telegram Channel with value add content for people curious about COTI and the other purpose is to be a meeting ground for people staking on the COTI Community Node.

For more details on our Community Node and further plans check out our webpage COTI Community Node

BTT Staking

BTT staking has started successfully.

Since some days, you can stake your $BTT in Dlive to get some rewards. As the first day staking rewards were outrageous due to the combination of a low amount of staked BTT and a high daily reward. Since then the amount of Staked BTT has settled down just north of 11.28 Billion (5.3% of total supply) and the daily rewards are now stabilizing close to 20 Million BTT.

If these number continue like this a 60% annualized staking return is a great deal.

PASSIVE INCOME DASHBOARD

The regular update on the passive income dashboard

With the Crypto market slightly recovering from the dramatic value loss in March, it is time to update the Passive Income dasboard again. As the amount of cryptocurrencies included has changed a bit, the format has changed a bit as well:

Passive income dashboard April 27

Due to the slow evolution on ADA, I have decided to take it out of the passive income token portfolio, as the contribution will be lower than the other 6 coins in there:

COTI
For COTI I have increased the target hold after the announcement that we will be allowed to run a community node on the COTI blockchain.

Pi-Token
The growth of the Pi-token portfolio has been happening quicker due to the low prices of Crypto, which led to an increase of the targeted bag size.

BTT
BTT has been added as a new passive income coin after the staking option in Dlive went live.

CITY Alpha
CITY Alpha has been added as there will be a possibility to increase the bag size in the future and it has already been a passive income generator for a while

CITYUPTAKE
As this is where I hold my biggest bag, it will always be a key element of the passive income strategy

WINk
WINk is continuously giving small consistent rewards, and the hope remains that its value and with that the hight of the rewards will grow in the future

COTI Community Node

Carpathian Basin has been selected as the future Community Node on the COTI blockchain.

This is the start of a new chapter. As of yesterday April 24th, Carpathian Basin has been selected to become the next Community Node in the COTI blockchain as laid out in the message in the COTI telegram channel yesterday.

Community Node win announcement

This is a big honor but also a big responsibility. In the coming days, we will find out the exact requirements of running the Community Node and the difference between running our node on the COTI Testnet.

We will create a plan on how we can support the COTI blockchain in optima forma and for that purpose, we will extend our COTI node page on the website with an introduction of the team (done), a roadmap of our plans to support COTI and detailed info about COTI in order to introduce new people to this great Blockchain.

For now we would like to thank the people who put their trust in us and voted for us. We will honor that trust with our hard work to contribute to the mass adoption of COTI as the “Coin of the Internet”.

Running for COTI node

Carpathian basin is running for mainnet community node on $COTI blockchain. Please use this link https://forms.gle/MXX2176hc72NUWwo6 to vote for us

The $COTI blockchain, one of the projects we are engaged with has opened a voting to decide on the next Mainnet Node to be switched on:

We have put in our candidacy and are collecting votes. This is a unique and very democratic way to decide on who will be the next mainnet node and as Carpathian Basin, we are proud to be part of this process.

Voting can be done through this link:

https://forms.gle/MXX2176hc72NUWwo6

And if you think we would be a good candidate, vote for @Carapthian: