A crypto hedge fund, Austin-located, called Multicoin Capital and supported by Chris Dixon, Andreessen Horowitz’s Marc Andreessen and Union Square Ventures is looking very forward to Ethereum and EOS while tanking down on Ripple and Litecoin.
Ethereum on the Lead
For now we are holding our position, we haven’t sold any. The EOS launch did not go as smoothly as we were hoping it would. All things considered, actually it hasn’t gone as badly as I think people say. […] I concur that it wasn’t as good as it should have been given the resources they had, so they made some mistakes, and slipped up. But on a long-term time horizon those are rounding errors, they don’t really matter. – Kyle Samani, Multicoin cofounder
Kyle Samani added the comments during and interview for Fortune’s Balancing Ledger as it was mentioned that the company will continue holding EOS even with the confusing launch.
But, without a doubt there are many that would choose a different route with EOS as its network and community was hit with negative news almost every day.
“People seem to forget, but Ethereum in its early days back in 2015 when the blockchain launched, it launched with no tooling, no infrastructure at all. People were really trying to beat this thing into the ground, and the system was pretty just challenging to use for quite some time. EOS was better than that.” – Samani
He compared the EOS crypto-independence to that of Ethereum with trouble of launch. However, now according to the co-founder the best bet to go is Ethereum as it remained steady in face of various competitors:
“If you told me to pick one token today and come back in 10 years, I’d pick Ethereum.”
However, even that his bullish standing point is strong towards cryptos with a blockchain based infrastructure, the same thought does not reach the silver coin Litecoin.
Litecoin in my view has no reason to exist. It was a fork of Bitcoin. It’s just been sitting around. The only investment thesis I’ve ever heard for Litecoin is it’s a testnet for Bitcoin, but that’s not an investment thesis.
Being relevant in the market has been quite tough for Litecoin since its credit card like payment system LitePay.
“It’s quite clear to us that Ripple is a security. We don’t know when that news is going to drop, but the catalysts seem to have kind of gone away from Ripple […] My point is, if Ripple is labeled a security formally by the SEC, all of the crypto exchanges are going to stop trading Ripple. So if that happens, liquidity is going to dry up on XRP and the price will plummet.”
On the same path, Samani highlighted to stay in a distance from Ripple, as he said it is for sure a security. But, Brad Garlinghouse – Ripple’s founder, strongly denies any claim that the token XRP is a security of any sort.