#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.

Pi-Token

A small introduction to Pi-token as part of the Carpathian Basin eco-system

As part of The Crypto Universe, we have have created the Pi-token. With this it has become an integral part of Carpathian Basin ecosystem and it got its own place in our website, next to COTI and CITYUPTAKE.

Pi-token is a token on the TRON blockchain, which enables people, with lower amounts of $TRX or people who do not like to do KYC a possibility to earn some nice rewards while not having their funds at risk as the token is pegged 1:1 with TRX.

75 days after it has started paying rewards, the circulating supply of Pi has grown to 789k tokens:

Circulating supply of Pi-token.

In that period a total of 18.8k TRX has been payed out to the holders of Pi-tokens and the daily payment amount is growing day by day:

Cumulative rewards paid out to holders of Pi-tokens.

The Pi-token is funded by holding reward generating tokens and these rewards are then used in the following way:

income distribution of the rewards received by Pi-Token

In the week of April 19, a total income was received of 4,105 TRX. Out of this close to 10% (408 TRX) was move to the founders wallet to maintain the eco-system.
2,449 TRX was shared with the holders of Pi-tokens (average close to 350 TRX per day).
45 TRX worth of crypto was paid out to players of our weekly gaming competition in the channel.
1,202 TRX was moved to our reserve wallet, which is in place to fund the flexibility of offering a 1:1 peg to TRX.

Daily payout announcement, April 23 (payout 75)

As visible in the graphic above, close to 79% of the holders have chosen to switch on auto-buy as this results in automatic compounded carefree growth of the amount of Crypto held.

The different in returns explained between holding Pi and switching on auto-buy, based on 100k Pi held

Crypto recovery

As the month is almost over, I have been checking again how my road to Early Retirement is progressing. Almost 13 out of the 111 Months of the #111monthchallenge have passed.

January first distribution of wealth.

At the end of the year, Crypto only made up a lousy 9% of my total wealth. In the last 30 days, this has changed significantly:

January 30th distribution of wealth.

As is visible, value of stocks have dropped, loans are being paid back, and Crypto value has increased significantly.

Second phase of passive income.

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

CARDANO

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.

COTI

For COTI, first staking pool participation has begun, now I am saving to have enough COTI to start my own active node.

Pynk

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

Pynk

On the lookout for new ways to build #passiveincome in order to fund my #earlyretirement, I came across Pynk.

pynk

Pynk is still a Beta version of an investment platform. Their platform is looking for two type of investors:

  1. Time investors
  2. Cash investors

Time 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.

Pynk2

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.

Pynk3

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.

Cash investors

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!

Telegram

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

If you appreciate this blog, please use my referral to join Pynk:
https://beta.pynk.io/r/Carapthian