a photo of crypto expert reviewer Kyle Samani

Kyle Samani

Kyle Samani is a managing partner at Multicoin Capital, an investment firm focused on crypto. He previously co-founded Pristine, a company that build software for Google Glass.

Multicoin Capital

Reviews by Kyle Samani

πŸ”‘ 9 positive | πŸ’© 11 negative


Seems pretty reasonable to me that almost all PoW-GPU coins that aren't ETH are prone to being 51% attacked, at least until ETH moves to full PoS, at which point it's likely to become XMR I think (could be even sooner depending on FFG economics).

2018-05-24 | Full Review


I don't know that much about NEO, but I'm generally skeptical. I also generally don't care for this author but figured I'd share. NEO holders, beware.

2017-12-19 | Full Review


The collateralized model (e.g. MKR, and not Tether) is fundamentally hard to argue against.

2018-05-21 | Full Review


Quick rant on "discount tokens", eg BNB

TLDR: Discount tokens are *definitely* securities

2018-02-19 | Full Review


I've been skeptical of GPU-based decentralized compute networks like Golem, Coronai, Hadron, GPU Coin, and Hypernet for a while. I've spent a lot of cycles on them, and I'm really torn. Of course, when you see the data this clearly, it suggests that "of course you should invest in the decentralized compute protocols" because that rate of growth for AI compute is simply staggering.

2018-05-21 | Full Review


EOS is far and away the largest blockchain β€” in terms of usage, market cap, liquidity, and others β€” and requires the most active and engaged governance and technical infrastructure.

2018-09-18 | Full Review


IOTA is a scam.

2018-07-13 | Full Review


Perhaps the most amazing thing about Ethereum is that it has both a strong community and a very aggressive product vision.

That may be the winning combo.

2018-11-06 | Full Review


The Zcash company is actively pushing to make it easier for everyone - users and exchanges - to adopt shielded txs!

2018-11-15 | Full Review


Coinbase is supporting USDC.

This is going to be the on-ramp that enables millions of people to interact with Dapps without taking on balance sheet risk.

2018-10-23 | Full Review


Dash has a pretty epic roadmap

https://www.dash.org/2017/06/27/roadmap.html …

2017-12-01 | Full Review


Bancor is objectively worse than all other market makers. If asset already has liquidity, it's not necessary. If asset doesn't have liquidity, then why are they inventing a pity based liquidity provider? Bancor breaks capitalism IMO and is total nonsense.

2017-11-26 | Full Review


OmiseGo's penetration is tiny on a global basis, a round error really. If you think on a global scale, their lead is not significant.

0017-09-21 | Full Review


Network effects and competitive moats are generally misunderstood. Contrary to popular belief, there are no networks that exhibit n^2 network effects, and in fact many exhibit log(n) network effects, notably fungible asset exchanges. Bitcoin as digital gold will be subject to the perpetually sub-linear log(n) network effect, whereas Bitcoin as digital cash can achieve super-linear network effects as crypto adoption grows from <1% to 50% of the global population. The cryptocurrency that becomes the dominant store-of-value will by definition need to exhibit super-linear network effects as it grows.

Moreover, other types of competitive moats such as brand and broader ecosystem integrations do not exhibit increasing returns to scale, and can be easily overcome by a competitive network with super-linear network effects. We already have ample evidence that this is true.

2018-05-09 | Full Review


Over the last few years, we’ve seen messenger apps grow in scope a lot, led by WeChat. Much of the growth has been tying payments of all forms into chat. This is natural as much chat β€”> commerce. Seems highly probable that we’re not that far away from major messengers - WhatsApp, Telegram, etc - building payments natively.

Kin is obviously first high profile example, but everything about Kin is wrong. The messenger that wants true adoption should implement using BTC, ETH, or stable coin directly. Those assets have much higher liquidity to fiats, which would really kickstart β€œbanking the
unbanked” dream of crypto.

2017-11-05 | Full Review


Using a novel consensus algorithm called threshold relay, Dfinity and Algorand aim to offer DBP, safety, more scalability than Ethereum within a single shard (though far less than the scalability offered by DPoS), and fast TTF. If threshold relay works in practice as well it has in test environments, we can expect to see Dfinity and Alogrand shard their chains and leverage the fast TTF and low latency to provide for efficient cross-shard communications.

2018-02-23 | Full Review


Multicoin developed a thesis around decentralized exchanges in 2H 2017, culminating in a large ZRX position going into the launch of 0x-based exchanges

Unfortunately, 0x-based DEX have not achieved meaningful market share. In our discussions with dozens of market makers, we learned that the biggest challenges are around fees to cancel orders, and lack of deterministic order execution.

2019-02-19 | Full Review

More Multicoin Capital people

Compare Kyle Samani's coin reviews with other Multicoin Capital people.

photo of cryptocurrency expert Tushar Jain
Tushar Jain

Managing Partner at Multicoin Capital

photo of cryptocurrency expert Vinny Lingham
Vinny Lingham

CEO of Civic Technologies

photo of cryptocurrency expert Myles Snider
Myles Snider

Research Associate at Multicoin Capital

See all Multicoin Capital peopleβ€”>