Sunday, July 3, 2022

Nando Caporicci Gives an Insider Perspective into The World of Cryptocurrency

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Nando Caporicci is a cryptocurrency expert and a sole proprietor from Canada. He started his career by obtaining a degree in political science in the 90s. After that, he pursued an MBA at the City University of Seattle in Washington. Upon graduation, he accepted an accounting-based role where he spent a few years. Given that his position also carried a lot of marketing duties, he soon transferred to ICP Global to be a marketer. This is where he started concentrating on digital media and began optimizing online shopping experience for the customers. Recently, however, Nando Caporicci has been working as a prolific Bitcoin miner who creates mining rigs. 

1- What made you want to pursue Bitcoin given your field of expertise in accounting and marketing?

Well, my experience in accounting helped me understand what it takes to be profitable in the long-run. When cryptocurrency first came around, I was able to put these skills to use and make some predictions about the industry. Although I believed it would be very successful, I never anticipated that Bitcoin was going to become so dominant. Nevertheless, once I started realizing that it is bound to take off, I wanted to be a part of the action. Hence why I got involved and started mining early on.

2- How difficult was it to learn the ins and outs of cryptocurrencies?

It was fairly challenging. The main difficulty came from the fact that I had to learn about systems that have very little to do with things like marketing and accounting. Even though accounting relies on a lot of software, it is not even remotely similar to Bitcoin. So, figuring out the basics of the blockchain technology took some time. Now, I am proud to say that every minute spent learning was definitely a valuable investment that I would make again.

3- What do you enjoy about mining, the most?

I always loved working on puzzle-like engagements where I have a fixed set of problems that need to be solved. This is why working in accounting was very interesting. Even marketing came with many tasks where I had to overcome issues through critical thinking. Well, from the first moment that I found out about mining, I was intrigued by the process. The ability to solve puzzles in order to verify transactions seemed very uncommon and it was something that I never saw before. After a while, however, I became so passionate about it that I wanted to spend as much time mining as possible.

4- How should people interested in cryptocurrency businesses get started?

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Building a business that operates on blockchain technology is the type of thinking that will give rise to the next generation of billionaires. This is because the versatility and power of these systems are mind-blowing. People can use them to automate practically anything. In fact, networks like Ethereum have made it a priority to provide people with a smart-contract solution. For those unfamiliar, these are lines of code that enable you to skip the middleman and directly transact face-to-face. So, when a party wants to send someone funds upon completion of an online project, a smart contract would do so automatically.

5- What are some assets that you believe in and think are going to grow in value?

I will always be behind Bitcoin. After all, this was the very first invention and it literally embodies the values of a “poster-child” for the movement. Moreover, Bitcoin is still the most valuable cryptocurrency ever invented. Thus, I find it very hard not to be a little biased in favor of Bitcoin. Another one that I think will achieve incredible heights is definitely Ethereum. The reason why is the fact that it offers much more than a store-of-value source or a payment method. As mentioned, Ethereum is where people can come to build their own crypto businesses.

6- How competitive is the blockchain market right now?

It is definitely hard to break through and establish a dominant business. Nevertheless, it is nowhere near as competitive as it was in the very beginning. This is because a lot of companies fell off along the way. Some initial coin offerings that raised a lot of money never lived up to their expectations. All of that somewhat slowed down the pace at which things were moving. Not to mention that the prices of all cryptocurrencies have been declining. So, some investors are slightly discouraged. What does this mean for newcomers? Well, it is probably as easy to get into the market as it will ever be.

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Noelle Elia
Noelle Elia
is a Financial analyst at PSPC. Graduated from Telfer School of Management, Finance/Accounting with interest to Entrepreneurship and New Media.
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