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Home / Business / XRP is a security, Litecoin has no reason to exist, "Ethereum is the best – Says Multicoin Capital – Inside Bitcoins

XRP is a security, Litecoin has no reason to exist, "Ethereum is the best – Says Multicoin Capital – Inside Bitcoins



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Multicoin Capital, an Austin-based crypto-hedge fund backed by Andreessen Horowitz's Marc Andreessen and Chris Dixon, Union Square Ventures and other VCs, has long been on EOS ( EOS) and Ethereum (ETH) – but bearish on Litecoin (LTC) and Ripple (XRP).


EOS launch "has not gone as badly as I think, people say"

The multicoin co-founder Kyle Samani said Fortune "Balancing the Ledger" that his company despite He explained:

For now, we hold our position, we have not sold any, the EOS launch did not go as smoothly as we had hoped, and overall, it's not As bad as I think people say. […] I agree that it was not as good as it should have been, so they made some mistakes and failed, but on a long-term horizon Rounding errors are not really important.

Of course, many in the cryptocurrency space would not agree with Samani's mood after the negative news that followed the launch of EOS was accompanied by a negative reaction almost daily. [1

9659007] It is also worth noting that Samanis Multicoin Capital has a very large stake in EOS.

 eToro Market Research: EOS

Ethereum is the Best 10-Year Game

Samani also compared the problematic launch of EOS with that of Ethereum – the platform on which EOS was built. He said:

People seem to forget, but Ethereum in its early days in 2015, when the Blockchain launched, launched it without tools, with no infrastructure at all. People were really trying to hit that thing in the ground, and the system was pretty hard to use for a while. EOS was better than that.

Nonetheless, Samani does not deny Ethereum's leadership in the cryptocurrency space. The second-ranked cryptocurrency by market capitalization has so far held its own against competitors, and co-founder of Multicoin stated:

If you told me today that I would choose a token and come back in 10 years, I would choose Ethereum. 19659006]

Litecoin & # 39; has no reason to exist & # 39;

Samani's optimistic mood does not extend to Bitcoin's little brother Litecoin. In fact, he believes that Litecoin has no place in the market:

Litecoin, in my view, has no reason to exist. It was a diversion from Bitcoin. It just sat around. The only investment thesis I've ever heard for Litecoin is a bitcoin testing network, but that's not an investment thesis.

In fact, Litecoin has struggled to remain relevant after the credit card-like payment processing service was announced and canceled LitePay [194559007]

"Ripple is a Security"

Samani also suggests ripple dating to go the way, because he believes that it is definitely a security:

That is very clear to us this ripple is a security. We do not know when this news will fall, but the catalysts seem to have moved away from Ripple […] My point is, if Ripple is officially designated by the SEC as collateral, all crypto-swaps will run around with the trading of Ripple stop. When that happens, liquidity on XRP will dry up and the price will go down.

Brad Garlinghouse of Ripple has stubbornly denied the claim that XRP is a security.

What do you think? Samani's statements? Do you think that EOS can recover from its problematic start? Is Ethereum the best long term investment? Does Litecoin make sense? Is XRP a security? Let us know your thoughts in the comments below!


Images courtesy of Shutterstock.

The Post XRP is a security, Litecoin has no reason to exist, "Ethereum is the best – says, Multicoin Capital first appeared on Bitcoinist.com


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