Mission Accomplished - Update for week ending June 10, 2012

Assets
Cash                         944,723,857.88 ISK
Sell Orders                1,387,547,420.00 ISK
Escrow                       219,428,874.00 ISK
Contracts                              0.00 ISK
                           --------------------
Total Current Assets       2,551,700,151.88 ISK


I think it's safe to say I've had a good week.

Current assets are two at 2,55B ISK, up 1,33B ISK from last week. In other words, I've more than doubled my cash in the past week. Average daily income was about 190M ISK.

When I started this blog, my goal was to make 1.5 billion ISK in profits by June 22nd. I've now achieved this goal. In fact, I've managed to almost achieve this goal in a week, as opposed to 6 months. If I keep this up, for every month of trading I do, I'll accumulate six months of game time for two accounts. I can live with that.

Compare this to my starting point on May 5th, it may seem that I didn't accomplish that much. After all, Fugawa's net worth on May 5th was 1.8B ISK. Really, I've only made 700M. But there are two things to note. First, I've stopped reporting capital assets. Meili Jiang, my CEO alt, has 300M worth of ships, modules and ammo in her hangar. Those assets are included in the 1.8B ISK figure. Second, in mid-may, I purchased two PLEX, which I used to pay for my accounts. That's another 940M worth of ISK. Considering these two items, I actually made 1,94B ISK in the past month or so.

That said, I'm putting a hold on trading activities for the moment. As fun and exciting it is to watch my balance go up so drastically in a week, it's a lot of effort. I've had to play at least 60-90 minutes a day to research orders, do some hauling, adjust prices, update spreadsheets, etc. I do enjoy the analysis work that goes into it, but it still takes me away from spaceship combat, which is the real reason I play EVE. Also, there are a lot of other in-game activities that I'd like to try out. With the cash I have above, I can easily do so now. And I also know if I need a bit more cash to fund in-game activities, I can always make more cash.

And believe it or not, it's not the best way for me to fund my accounts. As I mentioned earlier, if I can keep up the income I've been making, I can keep my two accounts running for a full year with about 2 months of trading effort. But that two months is at least 60 hours of game time. The real dollar value of two one-year EVE subscriptions is 260$. So by earning my game time, I'm effectively being paid 4.35$ an hour. Given that the minimum wage in my part of Canada is over 10$ an hour, it's not an efficient use of my time.

It doesn't mean I'm going to stop playing EVE. Far from it. There are still many, many things I want to try in the game (exploration, research, manufacturing, PI, Low-sec PVP, null-sec PVP, etc). For as long as CCP keeps the servers up, I'll be playing.

As for this blog, I've decided to merge it with my other EVE blog, The Journal of Nate Guralman. Nate Guralman is my main. He's a combat pilot with RvB, a casual PVP corp. That blog has been dormant while I was trading with my alt, but really, it's where I should have been blogging all along. I had originally thought of making this blog an industrialist-only blog, but given my broad interests in EVE, that wasn't the best of decisions. Fortunately, blogger lets you export and import blog posts.

So this will be my last post to EVE Capitalist. If you've been reading, I thank you. If you want to keep reading, then head on over to:

The Journal of Nate Guralman