IOTX, TRU Episode 2 Tales from the Crypto
[00:00:00.000] – Sam Ridgeway
Alright. So here we are. It’s another week of Tales from the Crypto. And here’s Camron and myself. First of all, I’m going to apologize for the quality of my internet connection, not to go in too much detail. And on top of the mountain, we really have no Internet this week. I’m not going to get into it, but it sucks. And so I’m just going to apologize if my lips aren’t synced with with the audio and that kind of thing. But anyway, here we are, another version of Tales from the Crypto with Cameron.
[00:00:30.160] – Sam Ridgeway
And today Cameron is going to go over some more stuff. He’s gonna kind of go back on what we had talked about last week. A little bit kind of bring people up to speed and that’s sort. So I’m Sam Ridgeway. I have absolutely no knowledge whatsoever in this. That’s why Cameron’s here. He’s the guru. He’s the man with all the intelligence. So I will turn it over to you, Cameron, and want you to talk to the people.
[00:00:54.240] – Cameron Sikes
Absolutely. Well, yeah. Thank you for that very kind intro. Bear with him with the Internet, but don’t feel too bad. He does live on top of a mountain. So life isn’t too bad. Anyway, I’m Cameron. Last week we talked to you about NKN and Quant. So if you were able to get in on those back when we are this, then you probably made some money. This week we’re actually going to be talking about two other new coins out there that I just bought this week and I’m going long on with these ones and the last ones I recommended.
[00:01:25.850] – Cameron Sikes
I’m looking at these from a long perspective. We’re in the business collecting assets, just continually buying and collecting and letting those each of our assets appreciate. And these are two ones. I think there’s a big opportunity to make a lot of money on in the future.
[00:01:38.750] – Cameron Sikes
[00:01:39.310] – Cameron Sikes
The first one we have for you is IOTX. IOTX is a private centric blockchain system for the Internet of things. It allows people to own and control their devices as well as the data and the value of their devices generate. Iotx is a token backing itox. Developers pay with IOTX token to access the services in the platform. So what makes this a good investment? According to Juniper Research, the number of IoT devices is expected to exceed 50 billing by 2022. The vast number of Internet connected devices will need a secure method of communication and automation.
[00:02:12.070] – Cameron Sikes
Iotx aims to solve these issues and have have prevented the mass adoption of IoT technology, including scalability, high costs and lack of Privacy. Since IOTX helps solve a real world problem, it can be valued much higher in the future, and that’s right now the IoTX blockchain already powers real devices. It includes award winning blockchain powered cameras from consumer electronic shows and the Pebble Geo device perfect for supply chain optimization in any industry. Right now, it is actually trading as of this morning at around seven and a half cents and that’s up 292% in the last month and it’s up over 745% in the last year.
[00:02:55.210] – Cameron Sikes
As of right now, all our indicators are showing that by the end of the year this could be anywhere from $0.14 all the way up to $0.22. But depending on the rally in the market right now, it could actually be even higher. So I think there’s a great potential for this to get in at these current levels and just buy and hold. And by the end of the year you could have more than doubled your money.
[00:03:15.850] – Cameron Sikes
And Cameron, where do you go to get this?
[00:03:18.520] – Cameron Sikes
You can get this directly. You get you can get this directly off of coin base. It just was recently added to the exchange, I believe, about a week and a half ago, two weeks.
[00:03:29.660] – Cameron Sikes
So IOTX IOTX. Alright, perfect. And where would you want to buy it up to? Like, how high would it have to get before you’re like, you know, if it’s no longer good buy.
[00:03:40.240] – Cameron Sikes
Yeah, it would be a little too rich for me around 9 to 10 cents. Right now the current levels around seven and a half cents, I think, is a great entry point in there, especially to get this ideal return of least doubling your money within the next couple of months.
[00:03:54.820] – Sam Ridgeway
Perfect. Alright. Sounds great. What’s the next one?
[00:03:59.220] – Cameron Sikes
The next one here is TrueFi and true. TrueFi is currently trading at $0.76 a share as at 10:00 a.m this morning which is up 43% of the week and up over 450% of the month. TrueFi really interesting TruFi is decentralized finance platform that offers uncollateralized lending. Most deFy lending platforms operate on a collateralized basis. Borrowers deposit collateral, which is then liquidated in the event that they’re unable to repay their loan. This makes DeFi loans much easier to require than traditional loans like mortgages where less collateral is put down.
[00:04:34.450] – Cameron Sikes
But a lengthy vetting processes required to carry out and assess the likelihood of repayment. So essentially the credit we’re in this. But what TruFi? TrueFi sits in the middle of these two processes. True tokens are used to bounce for the credit worthiness of individuals and those with higher reputations will receive loans more easily. Holders are incentivized to vote only for trustworthy borrowers and are penalized if they bounce for a defaulter. This inventive mechanism lowers barriers to entry for most DeFi loans require huge amounts of capital a over collateralized.
[00:05:07.530] – Cameron Sikes
This limits the accessibility of large loans to those who are have large capital reserves. And so since November 2020 the protocol is originated over $200 million in loans and paid out 1.7 million to lenders without any defaults, according the company. So this is really cool because earlier this month True Fi raised 12 million in funding from major BC’S like Block Tower Capital, Anderson Horowitz and Sam Bankman-Fried’s Alameda research like we’re seeing a lot of money coming into this is given a greater credibility. And I’m a firm believer in platforms that allow for leverage and lending, because, as we know, debt is basically how economies grow.
[00:05:48.250] – Cameron Sikes
You can only get growth so much is based on pure equity. And so in order to scale and grow, you need that debt. And that’s basically what it’s it’s providing in a new and unique way. And so I’m in on this. I’m definitely going to be going long. I think by the end of the year, this looks like this could be all the way up to a dollar 16 by the end of the year, but it could potentially be even more. You can buy this on coin base, just like the other ones.
[00:06:13.600] – Cameron Sikes
And it’s TrFi.
[00:06:15.870] – Sam Ridgeway
Okay. And, you know, I’ve got this thing like I stake a lot of my Ethereum and my Bitcoin on BlockFi. That’s where I stake it. I get a great return off of it, and it’s compounded interest because I get paid every month interest on it. But basically what blockFi does. And just so people out there understand some of the things that are coming in with this crypto is I can take, let’s say, up a hundred thousand dollars out there stake or with block. Fine. I can borrow up to half of that.
[00:06:42.400] – Sam Ridgeway
So to borrow up to $50,000, there’s no credit check. I don’t have to go through a bank. I don’t have to do anything like money is there the next day because all they use, they hold on to my crypto is collateral, so I can’t take it out. But the emerging technologies and the way that crypto is allowing things to happen and not get that bank involved. And banks don’t have locations at every corner because they don’t take your money. Banks take your money. It’s crazy what you actually pay a bank.
[00:07:11.140] – Sam Ridgeway
So when we remove these banks, we can pay each other. We can borrow money, we can purchase goods and services. We can do all of these things. And we don’t have all of these middle men with their hands in our wallets. And that’s part of the reason why this whole crypto thing is going crazy. So the last one you just mentioned, what was the ticket for that?
[00:07:32.130] – Cameron Sikes
That is TRU. TRU.
[00:07:33.730] – Sam Ridgeway
And how much is TRU going for right now as of this morning?
[00:07:36.870] – Sam Ridgeway
Is that $0.76? Anything like that?
[00:07:40.130] – Sam Ridgeway
What would you say a bad. Where would you say it would go before you like it’s too rich for you?
[00:07:44.520] – Cameron Sikes
I would say, honestly, anything below $0.80 would be good right now. And honestly, I think I would definitely urge our watchers to get on that now because I wouldn’t be surprised if it could be at $0.80 before the end of the day at this point. So I think check it out if it makes sense to you, I’m saying we’re going along on there. So the entry point if you get in below ten, ideally eight, maybe. Excuse me. It’s at $0.75. Excuse me. Anywhere between, you know, like 75 all the way up to 80, $0.90. I think that would make a lot of sense, but try to get it under 80 because I think by the end of the year this will be around a$1.16.
[00:08:26.400] – Sam Ridgeway
Perfect. Alright. Well, that sounds like two great calls. So again, you’re going to want to take these, bring em, you want to just hold them. And then as we do these episodes, you’ll come back in and you’ll be like, okay, this is like we probably want to sell this off right now, right.
[00:08:44.270] – Cameron Sikes
Right now. I think we’re just holding these unless there’s something fundamentally changes with the coin itself. But if something happens and doesn’t make sense anymore to hold, we’ll definitely be giving you guys alerts on those so you can sell. And obviously as time goes on and we do more of these, we’re going to give you updates on how our predictions have actually come to perform.
[00:09:07.070] – Sam Ridgeway
I think a good thing also, is it’s your money, right. So if something between now and next Wednesday were to two, three X sell it, I mean, don’t just sit there and hold if you’re getting a great return off of something like like that NK that you talked about. I said that thing went up with the amount that I had went up to like $4,000. I didn’t sell it. No, not that I should have been in my in retrospect, if something goes up like a huge amount, what goes up must come down and a lot of time.
[00:09:43.670] – Sam Ridgeway
What happens is there’s a correction in the market when something goes up really fast? I’m not going to say always, but 99% of the time is going to come back down. So that go parabolic on you at the top and you made a shit load of money sell that thing. If it comes back down, which it probably will, you can buy it back.
[00:10:05.960] – Cameron Sikes
Yeah. No, I totally agree. I think for just for a long perspective, it probably wouldn’t matter those big fluctuations, because if you plan on selling it years from now. But if you’re coming in there from a trading perspective and you see it pop up a couple 100% in just one day, that for sure is going to correct and go down at some point. And so I wouldn’t feel bad whatsoever about selling that taking your profit. You’re never going to go wrong making money and taking a profit.
[00:10:34.500] – Cameron Sikes
It will ultimately correct. And hopefully you’ll be able to buy it back at a reasonable level, make some more money. And especially if you plan on holding it long in the first place, and you just want to kind of take a little profit.
[00:10:44.410] – Sam Ridgeway
Buy back more shares and then go back long again and you don’t have to sell all of it like most exchanges allow you to go with a limit order and set it at 50%, 75% or whatever, so you could sell off 50% of it and keep that if you wanted to. I’m just saying it’s not like an all or nothing sort of thing. Just because of the fluctuation that you see and the volatility in the crypto market, don’t let something good go away to where you’re like, damn it, that thing I was up $2,000 and now it’s down.
[00:11:17.840] – Sam Ridgeway
Now it’s down 50. Just absolutely sell it. Get out of it. And the thing is you can always buy it back. Like, let’s say you sell it off a $2000 of profit. If you want to turn right back around and take $1,000 and put it back in. Okay. Right. At least you cashed out and get your two grand.
[00:11:34.420] – Cameron Sikes
Yeah, absolutely. I think that’s why it’s another important thing to note is that before you go into these trades, you should have defined exit points in mind before you go into that. So if you think you’re like, all right, if this suddenly jumps up a couple 100% one day, this is the type of profit that I would need to see in order to sell it, sell a portion of it off. And so just kind of go into it with a game plan. Now, if it hits something, this is exactly the way you’re going to react to it.
[00:12:00.380] – Cameron Sikes
So you’re just not figuring out on the fly right now.
[00:12:03.080] – Sam Ridgeway
A lot of people what they do to say a lot, but they’ll take the profits off of their alt coins, like the things we’re talking about today, and they’ll take a percentage that, let’s say 25% profit, and they’ll put that into Bitcoin or something that, you know, is stable. So now we’re making a profit. But we’re constantly buying something like Bitcoin that has about as much stability as you could possibly have. So there are different things that you can do with the profits that you make that are going to get you in the long run, going to profit even further.
[00:12:35.780] – Cameron Sikes
A little savvy moves like that add up, and we’ll make you a lot of money over time.
[00:12:40.520] – Sam Ridgeway
Okay. Well, I want to make this under 15 minutes because I think that people probably that attention span they have. We want to kind of look at it, get out. And I want to get this uploaded as well. So I’m going to kind of leave it there. Is there anything else that you have ? Will you be back next Wednesday?
[00:12:56.590] – Cameron Sikes
I will be back next Wednesday with some new recommendations for you guys looking forward to it.
[00:13:01.460] – Sam Ridgeway
That sounds great, man. Cameron, I sincerely appreciate. I know everyone out there appreciate it. I love all the research and everything that you do that goes in, because what people don’t understand is it isn’t like something shows up on your desktop and says, Pick this and this. I mean you have to go through a ton of information to get these picks to find out what’s solid, because it’s not just the coin itself, the token itself. It’s what’s backing it, right. It’s the institutions that are pouring money into it.
[00:13:27.540] – Sam Ridgeway
There’s all of these variables that go into picking these coins. It’s not just a random thing. So I sincerely appreciate all of that time that you’re taking you to dig into all of these and come back out and stay out of the 10,000 from this week. Here’s two of them that I think you’re going to go really well. So thanks so much. Cameron, we’ll see you next Wednesday.
[00:13:43.560] – Sam Ridgeway
Alright. Take it easy. Take care, guys.
[00:13:45.580] – Cameron Sikes
Alright. Bye bye bye.