Charity Fundraising Campaign, Final Report Before Transfering Funds To Fiat ($728.51)

ervin-lemark (71)in #donation • 7 years ago

Dear friends, it has been five weeks since this donation campaign started.

At that time I told you a sad story about the family in a dire situation.

Please, read the article about the family Štampek. They are forced to live in harsh conditions without proper electricity and running water. They need an amount of 16,000 Euros to pay for the power line to reach their house.

How The Campaign Progressed?

I intended to run the fundraising for two weeks. All liquid rewards from my posts during this period along with your direct donations would go into the amount collected.

You were all great and contributed in many possible ways.

Thank you very much, you rock!

The Final Financial Report

All collected funds are accounted for in this Google Spreadsheet.

After five weeks the total collected sum before transfer out was $770.39.

#   Day         SBD     STEEM   SBD     STEEM   
    rewards by ervin-lemark     donations           by
------------------------------------------------------------------
1   02/27/2018  10.458  0.050
2   02/28/2018  3.359   0.125   0.030               @zen-art
                                5.000               @seckorama
3   03/01/2018  3.147   0.041           
4   03/02/2018  2.952   0.065   10.073              @asmolokalo
                                0.756               @adisrivastav
5   03/03/2018  3.954   0.031   10.000              @karenb54
6   03/04/2018  2.969   0.028            5.000      @fbslo
                                         2.000      @poss
7   03/05/2018  5.038   0.023            39.432     @blocktrades
8   03/06/2018  4.371   0.059            20.000     @fabien
9   03/07/2018  12.557  0.030           
10  03/08/2018  34.620  0.033            0.001              
11  03/09/2018  6.059   0.026   0.011       
12  03/10/2018  28.799  0.022
13  03/11/2018  0.330           0.001
14  03/12/2018  22.514  0.007   0.003               
15  03/13/2018  3.592   0.029           
16  03/14/2018  17.847                              Report No. 4
17  03/15/2018  8.060                               Interim Reports, Day 9 and 10
18  03/19/2018  8.245                               Interim Report, Day 14
19  03/20/2018  11.009                              Report No. 5
20  03/25/2018  13.919                              Challenges ...
21  03/27/2018  9.352                               Additional upvotes ...
----------------------------------------------------------
funds raised    239.025 67.002
price in $      2.64    2.08
@ bittrex
value in $      631.03  139.36
----------------------------------------------------------
total value in $        770.39
total value in €        624.02

What Went Not So Great?

I didn't think out well enough two things:

the exit strategy when it comes to the rewards of the reports after the second week of posts,
the volatility of the market and the price correction of the Steem and SBD assets.

What I did to somehow fix these two issues?

I added all liquid awards from reports together with some additional upvoted from you to the sum collected.
I waited for the price to correct itself up.

Today Was The Day!

As you've noticed Steem and SBD were on a relatively huge upward curve today.

So I seized the opportunity and transferred collected funds out of the platform.

You can also read the following step as a tutorial on how to relatively quickly and easily sell your Steem to fiat :)

I did the following.

1. Transferred Collected Amount Of SBD And Steem From My Steem Wallet To Bittrex

2. Sold SBD To BTC @ Bittrex

3. Sold Steem To BTC @ Bittrex

4. Withdrew aquired BTC to Bitstamp

I came out with 0.09894713 BTC which I immediately withdrew to my personal Bittstamp account.

The amount received minus the fee was 0.09844713 BTC.

Current value @ Bitstap of collected donations is $728.51 or 595.54 €.

I decided to sleep it over in hope that the value tomorrow morning will be higher.

Conclusion

We are two steps away from the completion of our first goal, to deliver the donation:

Sell BTC to Euros
Transfer Euros from Bitstamp to the Charity Organisation

Hopefully, this will happen tomorrow.

P1s: I am sorry to pester you with all these financial details when our primary aim is just to help. I want to operate as transparently as possible. I also want to keep the notes for future endeavors. To learn and to progress :)

Thank you for your patience.

Ps2: During this time I did step in contact with both the editor in chief of Ona magazine and the manager of the Charity Organization. Both ladies were happy to hear about our campaign. I'll keep you posted about our conversation too.