$644,239 – Last Month
$610,676 – This Month
-$33,563 – Change
May’s profit report continued the theme of 2018 in general – the crypto market continued its downward trend. Bitcoin was down nearly 17% yet my balance was down only a bit over 6% (on a US dollar basis), so that is somewhat ok.
If this is your first profit report you have read on Bitcoin Millionaire, chances are you might be confused with how the balance is up 9.744 Bitcoins but I have recorded a loss on a US dollar basis. This is because I record the balance of everything in US dollars, so if a token price that I hold stays the same or drops in value slightly but the Bitcoin price drops a lot, then this will result in my balance recording a gain on a Bitcoin basis.
This becomes clear with the example of my large holdings in BetKing tokens. Month over month the token value has grown from being worth 11.124 Bitcoins in April to 13.651 Bitcoins in May although the US dollar value is basically flat. This is because the token is heavily tied to the fiat currency price and only slightly to the crypto price fluctuations. However, this might change in the future as the site makes more and more crypto profits.
As far as this site goes, this month a few new writers have started to add some really good content (This Paxful Review was such good quality!) to Bitcoin Millionaire which has been awesome to see! The site is starting to grow a lot from when it just started as a personal investment journey in the crypto space. Normally I would post just a couple of articles a month but this month there has been over 30 Interviews, news articles, or ICO’s listed!
The total loss of $33,563 in the month of May really came from two areas; the Bitcoin price drop, and value of Steem dropping a lot. The website earnings dropped as well as I spent more on content and design creation which I think is definitely worth it.
This month I sold all my Binance tokens as I got really frustrated with a token not being credited to my balance and also my affiliate account was shut down. I sent them emails asking why and they never responded so I was disappointed and sold out of that exchange. If they cannot reply to me then I assume they treat all their customers poorly.
Unfortunately I find most exchanges to be similar (Poloniex shut me out of my account this month for no reason) – they are hard to trust and really you are crazy to trust them. So as usual I am keeping coins on exchanges for the least amount of time possible because history shows it is way too risky to trust them.
With the Binance sale and Bitcoin profits from the site I started to buy more Etheroll tokens and CLAM tokens. Both of these tokens are basically used as funding in bankrolls for their crypto casinos, you can read about Etheroll more here. I do like these tokens as they are making real money and paying out essentially dividends quarterly or daily.
In the coming month the Money Tokens will be released and it will be interested to see what price they trade at considering I got in on them very early. I made some great returns lending on Poloniex last year and it is clearly a booming part of the crypto-space so this will be interesting to watch.
ICO’s are finally started to get listed! Only 3 so far so once I get to 10 of them I will add an ICO tab on the header menu, which will happen in June.
As you can see on my btc wallet page. I still have a massive cash holdings and if the crypto market crashes further I may start to trade the cash for Bitcoins.
BetKing will also be buying back tokens in June and I plan to trade 10% of them which I will be using to likely buy more Clams and Etheroll tokens!
Thanks for reading and good luck in June everyone 🙂