$216,648 – Last Month
$221,725 – This Month
$5,077 – Change
This is now the 6th income report since starting the website and it has now been 6 months of positive growth on a fiat and a Bitcoin basis. Although the Bitcoin price went down for the first month since I started this site, I added a lot of Bitcoins to my balance in September increasing my total holdings significantly.
This month I interviewed the Betstreak team ahead of their ICO which they have now delayed, and I finally got to see the price of the ICO’s I invested in last month. In total after expenses I made 5.724 BTC, which brings my total balance to 51.420 BTC. With the fall in price of Bitcoin combined with adding more Bitcoins to my holdings my balance is now worth $221,725 meaning I am up $5,071 for the month of September!
Bitcoin interview added
As I stated earlier, I Interviewed the gambling site ICO ahead of their ICO which they have now looked to delay. I have had a lot of emails questioning if I am joining this ICO or not. As of today I have not and will not invest in this ICO unless the structure changes, as today it does not offer much for the investor and a lot for the owners in my opinion. It could do really well for investors and I wish them all the best, but I will only be watching from the sidelines.
The total gain of $5,077 in the month of September came from three areas:
- Website earnings through banner advertisements and affiliate income.
- Bitcoin investments in Bitcoin gambling site bankrolls, gambling site ICO’s and Steem.
- Decrease in the price of my Bitcoin balance.
In total the website earnings was 1.615 BTC ($6,964) for the month of September. The total revenue from affiliate income and banner sales was 1.715 BTC ($7,935) and the combined expenses for both sites was just 0.1 BTC ($431) which included the writers costs for Bitcoin Millionaire and for Bitcoin Gambling Reviews.
In total I made 4.109 BTC ($17,718) from investing in Bitcoin gambling bankrolls, the price appreciation of the BetKing and BitDice tokens and increase in value of Steem. If you are really keen on getting weekly updates of my investment locations in gambling sites I post them every week on steem – so just follow my account here steemit.com/@btcmillionaire
A table of the gambling investment returns is below (note the value of BitDice and BetKing tokens dropped from the 4th week to today):
If this is your first time reading an income report you may be questioning what Bitcoin gambling bankroll investing is and I highly recommend you read this post explaining it further:
Drop in price of Bitcoin
Finally I get to post this picture of Bitcoin riding the roller coaster down (I have had it saved for 6 months waiting to post it)! In total the price drop in Bitcoin this month made my balance decrease $19,605.
So why did the price go down? 99% of the time I would say I have no idea but this month it was almost certainly associated with Jamie Dimon from JP Morgan calling Bitcoin a fraud (unfortunately the world seems to listen to him) and China banning various aspects of Bitcoin (exchanges and ICO’s).
It is amazing hearing all the noise during the month as it was dropping and rising like it always has over many years now. I assume many people get emotional and sell and the sharks come in and buy on the panic. Even if this is remotely right it is of very little interest to me.
With the goal of getting to $1 Million in Bitcoin I suspect the best case scenario is that the price continues to drop and I accumulate more (as my sites generally earn in a fiat equivalent of Bitcoin) and then after sometime we see a slow rise in the price. So far I have accumulated 20.091 BTC since I started the site in April and if the price was higher earlier on I would be much poorer for sure, meaning a higher Bitcoin price is not always better. Dollar cost averaging or Bitcoin cost averaging is probably the best way to be calm through the volatility if you were panicking this month…
What’s next in October?
I have had a few emails about ICO’s that want to be interviewed on this site which I find really fun, so hopefully I add a few more business interviews. I also suspect my Bitcoin investing portfolio grows again by a couple of Bitcoins and my sites make a Bitcoin or two as well.
There is likely to be more noise about the potential hard fork (SegWit 2x) that could occur in November, so if I learn more on that I will let everyone know, and it is worth following the news on it.
Lastly if you want your business listed on this site and/or you want to advertise on Bitcoin Millionaire please get in touch 🙂