Months 15 of the 111 months early retirement has finished. Time for a summary
The 15th month of the #111Months challenge has finished and due to the global situation we are in, it was a month of a major step back. Both the share values and the crypto value dropped back. Eventhough the spending has been reduced, giving more opportunity to buy more Crypto and shares, the nett result was negative.
The proportion of loans on my total wealth has climbed up after a steady continuous decline. In the coming months, our government has suspended loan repayments, so the free cash will be used to increase exposure to shares, crypto and precious metals.
Also the passive income generation has suffered over the month of March and has dropped significantly. Even though the holdings of all passive income generating assets have increased and a new asset (Pi-Token) has been added to the list of passive income generating assets.
With March having been an extremely busy month, setting up another Crypto project while dealing with COVID19 issues in normal work, the blog has been neglected a bit. But a recovery is in place
With the mini-bull run behind us, I thought it would be nice to check how the Coinmarket cap developed over time.
The table above shows how the top 20 has changed significantly from 2017 (Jan 16) to 2018. However in the following years there was less of a shake up. Clearly the market cap has been severely impacted by the 2017 end of year bull run. In the following bear market the ranking has stayed relatively stable. To my surprise there are still quite some Forks in the top 20 and I would expect the majority of them to drop our during the next bull run, as I would hope that utility will become more important than the name of the project.
However the top 3 of the Coinmarket Cap seems unshakeable.
This exercise led me to investigate the coins in the top 20 a little bit more in detail and I finally checked out LEO, as it has always intrigued me, what is it and why is it in the top 20? I will add some more words to that at the end of this article.
So what happened with the projects vanishing from the top 20?
The projects dropped out in the recent years have been able to keep a position in the top 50 with the exception of ICON. But among the projects, which were shaken out after 2017 there is a bigger variation to see. Clearly a lot of them have been overtaking by newer projects with superior technology.
What is Unus Sed Leo (LEO)?*
“Unus Sed Leo (LEO) is an exchange token that was launched on May 22 by iFinex, the parent company of Bitfinex, Ethfinex, and Tether. The LEO token is an exchange utility token for current and future iFinex trading platforms and services.
It was launched to the public following a private sale raising $1 billion. During this private sale, the purchase price of Unus Sed Leo (LEO) was 1 USDT for 1 LEO and the total supply of 1,000,000,000 (1 billion) LEO tokens were sold.
Why Did iFinex Launch an Exchange Utility Token? Cryptocurrency exchanges issue their own exchange tokens for a variety of reasons; to attract more users, to benefit existing users, and to generate more profits. iFinex is no different.
However, the primary reason they issued the LEO token when they did is because in 2018, Bitfinex’s payment processor, Crypto Capital, was subject to a partial government seizure equating to $850 million of Bitfinex’s funds. Bitfinex is actively working to expedite the return of these funds but there is no certainty they will be able to recover them.
Therefore, to alleviate this cash shortfall, iFinex conducted a private offering of $1 billion for its Unus Sed Leo token.
If Bitfinex is successful in recovering the $850 million funds from Crypto Capital, they stated that an amount equal to 95% of the recovered funds will be used to repurchase outstanding tokens and then burn them. As well, Bitfinex will also use 80% of recovered funds from a 2016 hack to repurchase and burn Unus Sed Leo tokens.
The repurchasing and burning of LEO tokens from recovered funds will reduce the token’s total supply and drive the price up through time.”
After setting up the CITYUPTAKE passive income stream in 2019. In 2020 I want to add:
Cardano blockchain based passive income
COTI blockchain based passive income
Passive income through Pynk
For Cardano I joined the Shelley testnet and although majority of ADA is used to boost the CITYUPTAKE Trade Desk, still a portion is used to receive staking rewards. Waiting for projects like CITYUPTAKE to emerge for serious passive income.
For COTI, first staking poolparticipation has begun, now I am saving to have enough COTI to start my own active node.
For Pynk I finally accumulated enough community points to be converted into Pynk shares.
For that I had to predict and invest time for 5 months:
I made 148 predictions and 42 forecasts.
Anybody interested in exploring Pynk please use this link: link
11 months have passed from the #111Months challenge. Time for a review #passiveincome #ada #cardano #TRON #earlyretirement
Summary of the 11th month of the 111 month challenge.
100 Month to go..
11 Month have passed, 100 more to go. What started as a general idea to retire at the age of 55, slowly transformed in a real plan with the following elements worked out
Defined a target crypto portfolio;
Established 2 participations, generating work and income after retirement;
Started to work on community involvement;
Defined a roadmap with milestones to reach the final goal.
Both passive income and liquid wealth targets are ahead of schedule, although wealth didn’t show a significant growth.
My position in all passive income generating entities is continuously increasing. Both in Crypto: CITYUPTAKE, CITY Alpha, WINk and in conventional shares: Unicum, AbbVie and Altria.
CITYUPTAKE has initiated being KYC and Tax compliant, which decreased the paid out amount of income but prevents future offsetting through local taxation. As the amount of CITYUPTAKE held increased, also the weekly rewards are increasing. CITY Alpha delivered a record return, which offset the low value of $TRX completely. Returns in WINk are low, but accumulation is ongoing for future rewards.
The trading profits in shares have been used to increase the position in AbbVie and Altria.
With all of this, passive income is now at 11% of the final target, supporting a quicker accumulation, creating a boomerang effect.
Staking in Cardano (ADA) will start delivering some additional regular rewards
Loans still make up 39% of total wealth and are continuously decreasing. In 4 months time one of the mortgages will expire, which will create additional free income, to speed up repayments of debt for the future
Again during the month of November two stock flips could happen creating profit too increase the hold of AbbVie and Altria.
A position of more than 30k $ADA was build up to be ready for testnet and participate in the Cardano staking which will start in the first half of December. After snapshot a part was converted into CITYUPTAKE to increase weekly rewards.
When $BTC was at a level of $7200, the size of the $BTC bag was increased as well. Besides that daily 0.0025 BTC is purchased to build a strong position.
For the near future, $BTT is cheap and accumulation will be expedited also $ADA will be in focus to build up again as I have high expectation on $ADA performance in the second half of 2020. Also BTFS will do some magic for $BTT.
Once all targets below are achieved, focus will shift from Crypto to regular stock market, but before doing so a major correction of stock market has to happen first.
My blogpost on Carpathian Basin explaining the crypto portfolio
My Crypto portfolio showcases the various crypto projects in which I am invested and in which I see the potential for wealth increase in the future.
The Blockchains I am invested in are the following:
For Crypto progress I am tracking the value of the following chains in details: TRX, XRP, BTT, NANO, ADA. The other projects’ bag is still to insignificant to be tracked in detail.
The portfolio profitability shows how much the value of the total hold of the coin is versus the money invested in the coin. It is visible that with the current values (November 4, 2019) only $TRX is in profit, while $BTT is not too far off. $NANO, which was the first Crypto I bought in March 2018, still has a far road to travel.
The graph above shows the value of the tracked Crypto portfolio (blue) versus the invested amount of USD (orange) and the resulting profitability of the portfolio (Red). Due to the fact that the vast majority of my crypto hold is TRX and that is the only coin in profitable status, the whole portfolio is profitable.
Within TRON blockchain, I have invested in several projects bringing passive income. The majority of the passive income is coming from CITYUPTAKE and WINK.
The daily passive income is continuously growing to a level of close to 20 USD per day. The average daily TRX rewards are close to 900 $TRX per day. This passive income is a key element on the #111Month challenge
With investment emotion is a big factor. It is important to be honest to yourself. Are you an emotional person when it comes to investments? Are you quick to be drawn into a FOMO? Are you likely to have a panic sell when prices drop? Have you done impulse purchases in the past?
When your answer is yes to most of the above, it is best to steer away from the temptation of emotion impacted investment.
I have done so by locking most of my investments and making them difficult to touch. Instead of trading, I put a significant part of my holdings in the hands of transparent and compliant professional traders like CITYUPTAKE and soon also accompanied by PYNK. These are taking care of my funds while generating a nice passive income. With that passive income, I can choose to re-invest or to use it for more risky investments.
Besides CITYUPTAKE and PYNK also nice opportunities are opening up at Cardano, which is soon to be ready for staking as well.
So the monthly decision is now, what to do with my investable money? Crypto or stock? CITYUPTAKE or PYNK?
In the end I know that as long as I am not trying to trade myself, the return on my investment will be good whatever decision I take.
On the lookout for new ways to build #passiveincome in order to fund my #earlyretirement, I came across Pynk.
Pynk is still a Beta version of an investment platform. Their platform is looking for two type of investors:
The time investors can invest their time into the platform to make predictions on the value of Bitcoin or they can do a forecast on different type of commodities.
By participating in the platform you can get crowd points, which you can use a collateral for earning wisdom point. For logging in you receive points, for answering forecasting question you receive points, but once you forget to log in for a day some points are deducted.
The accuracy of your daily prediction will than define the exchange ratio of your crowd points into wisdom points. The more points you bet and the closer your prediction is to the reality the more wisdom points you earn.
Than once per quarter your wisdom points are converted to Pynk points, which serve as shares in the Pynk investment fund and with that you will get your share in the profits from the Pynk investment fund.
If you can achieve a top 20 result at the end of the month, you can get an additional USDC reward.
The data provided by the time investors are fueling the artificial intelligence, which is a big part of the trade input process.
Soon you will also be able to purchase Pynk points to fund the investment portfolio and to have Pynk to work with your money to earn more. Of course a portion of this profit will be shared with the “time investors”
At this moment I am a “time investor” but as soon as it is possible I will become a cash investor as well with the purpose to achieve my #111Months challenge an retire at the age of 55!
Pynk has a very lively community on Telegram and is worthwhile to bring the Telegram page a visit for more info and for becoming a part of this very supportive community
In January, I started the #111Months program, to try to be in a position for early retirement in 111 Months.
After 5 months I have achieved a blended 4,3% of the final target (helped by the small surge in value of crypto-currency.
The goal is to acquire enough wealth combined with Passive income to be able to retire at the age of 55 (111 months from start) and be able to survive by means of passive income, without eating up the wealth.
The approach is:
Pay back existing loans, decreasing negative wealth and having more spendable income to build up wealth.
Maintain position in Brewdog shares
Maintain and slightly increase position in Crypto
Reinvest weekly CITYUPTAKE rewards to increase further passive income
Build a position in dividend paying shares.
Besides being able to retire after 111 months, the ambition is to have a solid social media presence by that time as well, so I can retire in my home office and can do investment management, while engaging in the crypto social media. The two chosen channels are:
Twitter has been chosen because of the historical Crypto engagement. Current amount of followers is just above 100, the target is to have 500 by the end of the #111Months project.
FriendsterIO has been chosen as I believe this is the future of social media. A young fresh new social media site, with integrated Crypto functionality. Non censored and decentralized. The target is to have 1.000 followers by the end of the #111Months project.
On way to get more engagement on Friendster is by starting the weekly “Castles of Carapthian” game, which his hit the top of the most popular posts section.
“Don’t fear failure. Fear being in the exact same place next year as you are today.” Michael Hyatt
When I started the Carpathian-Basin project it was at a moment I was looking for something more although I am quite successful in professional life and have a happy and adorable family.
I previously tried to set up a company called Portaholic with my two Stepsons after visiting one of them during a Erasmus program in Portugal where we took up the ambition to bring the joy of tasting Port to the Hungarian people. This project came to a stand still just before summer 2018 as the regulation surrounding Alcoholic beverages into Hungary (or any EU country) required too much paperwork and investment before being able to set up a decent company. But this joined exercise infected me with the entrepreneurial virus.
Inspired by all travels and life experiences I decided it would be nice to capture these in real life apparel and market it for the wider public to be able to buy it and therefore I looked for a suitable name which referred to my whereabouts and had any relation with traveling or geography. That is how I came up with Carpathian Basin as Hungary, my new home is located in the Carpathian Basin. I started to design and create shirts but on the way decided it is too personal just to sell it and it is better suited for personal usage or for sharing with friends on certain occasions. The upcoming weekend with my former Student room mates is one of these occasions where a custom made T-shirt has a great value.
In the meantime, while designing shirts, the cooperation with my step sons had a new boost and we founded a new company, called Oh!Live. This would be similar style as the previously founded Portaholic, but with healthy products which would be easier to import, organic olive oil. Another quality item, which is difficult to find in Hungary. The launch of our website will happen in the next couple of days.
While exploring all the area’s of enterpreneurship, I also became a huge enthousiast of the world of crypto-currency and Tron in particular. This had led me to change from my the focus on apparel to a focus on all things close to me from like traveling, Oh!Live, cryptocurrency, apparel and what ever will come next.
About 10 years ago when Bitcoin was still very young, I first encountered it while scanning the net. I decided to buy some, but due to the difficult process to acquire some at that time I decided not to do so and in the process I lost interest in Bitcoin. And invested in a little brewery in Schotland instead. Big Mistake!
Than 5 years ago I was sitting in a taxi, where the taxi driver asked me if I knew Bitcoin, I acknowledged and he told me that his son was Satoshi Nakamoto but nobody knew. He told me his son spend 10.000 Btc on pizza’s and still made a fortune and moved to the US. I guess he merged some stories around Bitcoin and made them his own.
Bitcoin was back in my vision field again, but anytime there was news that the prices dropped, I used this to justify to myself that I made a good decision not to buy even though I would already have been a millionaire if I invested my originally planned 250 Euro. And anyway Brewdog was doing well so my investment was not a waste.
Another four years later, around a year ago, my stepson was talking about Cryptocurrencies explaining how Bitcoin went to the moon and came back for a relaunch. He was explaining Cardano as one of the big potentials for the future and at the same time Brewdog was exploring going to cashless bars and it was rumored that they would use Nano for that. Now being fed by two independent sources, my interests in Crypto were reignited and I invested a little money in Nano using a two step process via Coinbase and Binance
Beginning of May I added some Cardano to my portfolio as things were looking very bright. And then all dropped further again. I left the investments for some months in their wallets and only looked back end of July. That is when my addiction really started. I started to crave for more knowledge. Checked on a daily base Reddit and different variations of Cryptonews. That is when I discover Ripple and Tron. When Tron launched the Tron Virtual Machine, I entered Telegram.
In Telegram I had to navigate myself through all the moon boys and rocket people (but as time progressed they vanished one by one as the rocket to the moon was not coming). But I did find one rocketman I liked, the one which is shown everyday by Cityuptake when they pay out the daily rewards.
But Cityuptake is a story for another day…. The day that I will talk about my journey through the Tron micro-climate