Bitcoin Millionaire Monthly Profit October 2017
$221,725 – Last Month
$300,048 – This Month
$78,325 – Change
October’s report is in and it is an interesting one. My balance is down significantly on a Bitcoin basis but up significantly on a USD basis. The gambling ICO tokens and Steem value took a beating on a Bitcoin basis whereas the general gambling bankroll investments were up. Like previous months, Bitcoin just continues to push higher highs and as such my total balance is up $78,325 for the month.
One thing I want to point out to everyone who has been following my Bitcoin movements on my wallet page I share, is that I have moved my primary Wallet address. I did this because it was a legacy non segwit address (meaning I do not get the benefit of cheaper transaction fees after the segwit soft fork). If you are really following the details of my Bitcoin movements closely and want to keep track of the old wallet you can still see it here: blockchain.info/address/15YKoeoycAzVgGqRXRiGj6EPZFRgTTtZwe
The total gain of $78,325 in the month of October 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.
- Increase in the price of my Bitcoin balance.
In total I lost 5.968 BTC (-$37,783) from investing in Bitcoin gambling bankrolls, ICO’s, Steem and from Bitcoin Gold. To explain it with more granularity:
- Bitcoin bankroll investments I added 0.25 BTC.
- BitDice ICO token value went down 1.133 BTC month on month.
- BetKing ICO token value went down 3.168 BTC month on month.
- Steem holdings went down 1.873 BTC month on month.
- My free Bitcoin gold added 0.607 BTC.
I am still posting my weekly investments returns on Steemit for the bankroll investments if you are interested in seeing the returns on weekly basis.
Bitcoin price appreciation
Bitcoin went up again significantly which added $103,820 worth of value to my total balance. There was a lot noise from all sorts of people this month on the value of Bitcoin. Warren Buffett again said it was basically worth nothing as it is not an income producing asset (which he also says about gold). Conversely Peter Thiel came out and said there is the potential for Bitcoin to close the gap on the market cap of gold which would put the value of each Bitcoin when fully mined into the 100’s of thousands each (if not more depending on the price of gold).
Still I have no opinion on the price of Bitcoin in the future however it is getting closer to the value required to making me a USD millionaire. I just hope the bubble doesn’t pop before I get there!
What’s next in November?
I was slack this month and didn’t add any interviews with upcoming ICO’s although I did reach out to a lot. Hopefully this month I can add more as it seems that the ICO space is just getting bigger in terms of people raising capital for their projects!
The hard fork for SegWit2x is looking very real now and there is already a futures market pricing in this coin at over 0.177 BTC. This gets even more interesting when you look at what some of the exchanges are offering before the split. There is the option to split your BTC now in a 1 BTC for 1 BTC1 (which converts to normal post fork coin) and 1 BTC2x (Segwit coin which will convert to the post fork Segwit coin). So if you really thought the Segwit2x coin was rubbish you could split the coins and dump your BTC2x coin for the BTC1 coin. Personally I will look at this option closer as the date gets closer to the hardfork. If it is anything like the Bitcoin Cash hardfork we (Bitcoin holders) will likely be much better off after the split.
As always if you want your business listed on this site and/or you want to advertise on Bitcoin Millionaire please get in touch 🙂