Last week, I had the opportunity to talk to one of the most exciting young entrepreneurs in the crypto scene. His name is Brian Condenanza (https://www.instagram.com/b.c/) and has advised numerous successful blockchain companies. He also did a very popular TEDx talk in Switzerland where he talked about the potential applications of blockchain technology in the future.
Today, he is the CTO of Bidao, a startup focused on Decentralized Finance on Binance Chain. I asked him about his favorite assets, his views on blockchain and other random thoughts. He had very interesting answers and I hope you enjoy them as I did.
What do you like doing in your spare time?
Just normal stuff, I love to talk to my friends and family, listen to music, read some books. I also procrastinate a lot, I just don’t need to sleep that much so I usually have time to do everything I needed to do.
When did you first hear about Blockchain?
I can’t really remember, but I was always so interested about new things and developments in tech, so it was probably one of the many things I have read about it. I bought Bitcoins when they were about $200 each to buy upgrades for a game. Unfortunately, I spent most of it and lost whatever else I had from that time, I was very young and frankly I had no idea the value of Bitcoin would go that high, so I think I lost the keys somewhere. Some other Bitcoins I had were left in an exchange called Cryptsy that was later closed after stealing millions of funds. For a while I didn’t want to read or have to do anything with crypto as it reminded me of the small but relatively big fortune I have lost, considering I was so young. Then, I realized I had to get back into the space because there was so much growth that was about to happen and luckily I was right. I assumed that Bitcoin would have a bigger relevance to what it had at the time, but I didn’t think that the price would get that much higher.
In a way, we are living in similar times. I think that Bitcoin will probably have a bigger relevance that it ever did, even when the price was at $19,000, but will the price get bigger than that? We will have to see that. I don’t necessarily think that massive adoption will allow for huge price improvements.
Which is your favourite cryptocurrency?
Bitcoin is king. The whole crypto scene could exist with only Bitcoin in the landscape, that is for sure. But I think that Ethereum was the cryptocurrency that took us to where we are at today. People like to hate on ICOs without reason, smart contracts are making a new kind of economy a reality. We will see where this take us.
Would you recommend people to invest everything in Crypto?
Of course not. It would be too risky. Although I think that anyone with considerable wealth should have at least 1-2% in crypto. Knowledge is key. I recommend to anyone interested to invest in crypto to think about it and read a lot. Read why it would be a good idea to invest and why not. To read more about the biggest assets and their pros and cons and then make an informed decision about it. There are so many crypto assets that can provide huge gains and also big losses as well.
What is your worst experience with Crypto?
I think it can be a toxic space, in the way that there is so much criticism for things that don’t matter at the end of the day. But that is a sign of the relevance of the industry and growth. I don’t think I have one really bad experience, just the usual you would experiment in any industry – clients not paying, people trying to rip you off, the usual. But you need that kind of stuff to learn and grow.