$713,859 – Last Month
$660,915 – This Month
-$52,943 – Change
February 2018 was the first month where I lost money on a US dollar basis. This was bound to happen and I am sure there will be more negative months in the future on my journey to making $1 Million from Bitcoin. The move over December and January to liquidate BTC for US dollars seems to have been the right move. In fact the $444,965 cash that I liquidated from 27.352 BTC over December and January is nearly 14x what my total balance was in April 2017 ($32,190).
The total loss of $52,943 in the month of February came from three areas:
- Website earnings (a gain) through banner advertisements and affiliate income.
- BTC investments (a loss) in BTC gambling site bankrolls, gambling site ICO’s and Steem.
- Increase in the price of BTC.
In total the website earnings were 0.4 BTC ($4,783) for the month of February. This is down month on month as Bitcoin Gambling Reviews started to get a lot more competition and less traffic. Although it sucks that Bitcoin Gambling Reviews made less money, it is pretty cool that more websites and people are joining the Bitcoin and crypto space. Bitcoin Gambling Reviews has been running since 2014 and I would never had imagined then how big the Bitcoin gambling space would grow.
In total I lost 8.844 BTC from investing in BTC gambling bankrolls, ICO’s, Steem and the way I am accounting for my cash holdings (if the BTC price goes up then the BTC equivalent of my cash holdings goes down). Looking at it in more detail the gambling bankrolls didn’t really make anything for the month, the Betking ICO was flat on a BTC basis (as it is pegged to the USD) and the BitDice ICO was down a lot month on month. It looks like the BitDice Casino has not made a profit in the last 3 months and will likely not pay out a quarterly dividend or a very small one this month.
Price increase of BTC
Considering I have very little holdings directly in BTC (most holdings are in alt coins) a change in the price of BTC has very little impact on my holdings. So the price increase this month was of little impact to my balance.
Moving forward I will start to hold more BTC from the earnings of my sites. This will lead to more fluctuations month to month but a potential strong upside if BTC rallies anything like it did last year.
Next month I want to finally split the site from existing BTC businesses and ICO interviews (that I planned to do this month). A part from that it will be business as usual! The million dollar target is slightly further away this month but going on last years growth it could happen this year 😀