Integrated Kyle e/acc @KyleSamani Twitter profile

Pinned Tweet

Integrated Kyle e/acc

7 months

My presentation from the 2023 Multicoin Summit!

Modular vs. Integrated: Theory and Practice

In this presentation, Kyle Samani, Managing Partner at Multicoin Capital examines the modular vs integrated debate both by walking through the constraints in...

www.youtube.com

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Last Seen Profiles

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Integrated Kyle e/acc

@KyleSamani

2 years

0/ Why the next bear market will not be like the last one And in fact, we may not have a bear market at all Or we may have half a bear market, depending on your perspective A thread

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@KyleSamani

3 years

The world is healing

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@KyleSamani

3 years

Bought 8 figures of Loot AMA

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@KyleSamani

1 year

0/ Some thoughts on Vision Pro From someone who was one of the first builders on Google Glass.... 10 years ago!

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@KyleSamani

2 years

The most important theme of 2022 is going to be composability The next generation of apps are going to leverage a multitude of composable crypto primitives to deliver experiences that were not possible before My keynote from the 2021 Multicoin Summit:

Multicoin Summit | 2021 | Defining the Next Generation of Crypto Apps...

As is our custom, Kyle presented the first keynote presentation. In this talk, Kyle introduces the idea of composability and explains why it’s at the center ...

www.youtube.com

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@KyleSamani

3 years

0/ @elonmusk getting a lot of hate these days, both from crypto maxis, and the media Probably the largest source of hate is "hey he is manipulating markets, this is bad and not fair, what is he doing" With very high probability, this is the wrong interpretation

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@KyleSamani

1 month

0/ Today I'm excited to announce that we led a $225M round in @wormhole !

Enter The Wormhole

Crypto is going multichain and needs a secure but flexible interoperability platform to connect the industry. Wormhole is one of the leading solutions in the market with a full-stack interoperability...

multicoin.capital

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@KyleSamani

3 years

The perennial @solana thesis

Multicoin Capital: Technical Scalability Creates Social Scalability

This essay assumes familiarity with Nick Szabo’s essay on Social Scalability, Vitalik Buterin’s essay on Weak Subjectivity, and Haseeb Qureshi’s essay on Why Decentralization Isn’t As Important As...

multicoin.capital

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@KyleSamani

2 years

Solana DeFi teams, now is your opportunity to shine It is always darkest before dawn

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@KyleSamani

3 years

0/ DeFi derivatives Probably the single most important question in DeFi over the next few years A thread on how we're thinking about it

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@KyleSamani

6 years

So a number of LPs asked me about IOTA today. My response:

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@KyleSamani

2 years

21/ In summary 1) The next bear market will not look like the last 2) More likely that tech crypto goes through more short-lived 2018 SaaS bear markets (eg May-June 2021) 3) The decoupling is real 4) When BTC gets flipped, things get *really* interesting {fin}

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@KyleSamani

2 years

Going on @UpOnlyTV with @cobie later this week What should we talk about?

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@KyleSamani

2 years

0/ We led a $30M round in @RenderToken earlier this year It’s our 2nd large Metaverse investment, after Arweave

Multicoin Capital: Rendering the Metaverse

Over the last year, Fortnite has pushed the boundaries for large scale synchronous online virtual worlds via concerts (Travis Scott and Ariana Grande on Fortnite).

multicoin.capital

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@KyleSamani

3 years

0/ One theory of the metaverse is that the company that controls the social graph, will have the strongest influence on the Metaverse So I’ve been thinking a lot about how to get the social graph data out of Facebook and Twitter, etc

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@KyleSamani

2 years

Just bought this using @solana Pay

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@KyleSamani

3 years

EOS

fiskantes.lens ⭐️🩸

@Fiskantes

3 years

What's the stupidest investment you ever made? Mine was well before crypto.

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@KyleSamani

10 months

Solana

Brian Armstrong

@brian_armstrong

10 months

The next step for crypto is to make payments instant and free globally. This will take lots of work from all of us, Coinbase included, getting layer 2's integrated, better on-ramps, simpler UX/onboarding, etc. A magic threshold would be getting the average payment under 1 cent

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@KyleSamani

2 years

It’s always darkest just before dawn

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@KyleSamani

4 months

People like to say that @solana fundamentals have not changed in the last X months That’s not true One very important thing has changed There is now incontrovertible proof that the solana network can run *at scale*: 1) while maintaining ~0 fees for normies 2) without falling

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@KyleSamani

2 years

12/ This is why I expect SOL and ETH to substantially outperform BTC through the next “bear market” The tech money doesn’t care about macro They just want to be long the stuff that they think is going to change the world

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@KyleSamani

5 years

. @APompliano is right JP Morgan is trying to create a privatized overlay money system on top of the Fed's USD

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@KyleSamani

3 years

0/ @solana Breakpoint is here! There are thousands of people in Lisbon, and everyone wants to get connected to the right people So here’s a thread on some of those people, and who they are trying to connect with I think everyone’s DMs are open. Don’t be shy!

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@KyleSamani

2 years

0/ Predicting the future is hard The most common way to do this is by using data, and extrapolating from the past This works ok when things are changing in a predictable-ish way But sometimes things change unpredictability 2022 will be a year of unpredictable changes

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@KyleSamani

2 years

Anyone working on web3 AirBnB? DMs open

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@KyleSamani

5 months

There are going to be a ton of air drops for @Solana @solanamobile Saga owners over the next 12 months h/t @kankanivishal

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@KyleSamani

4 years

I don't think I've ever seen an entire category collapse this fast, ever

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@KyleSamani

4 years

In the 1600s, commodity market traders would watch for incoming ships with telescopes, and front-run the market by short selling when they saw ships sitting low in the water, implying that they had more supplies Awesome

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@KyleSamani

6 years

Hypothesis: biggest mistake tech people make when evaluating financial markets is to think exponentially when the market acts linearly. Biggest mistake finance people make when evaluating tech is to think linearly when tech evolves exponentially

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@KyleSamani

2 years

0/ A thread on decision making (DM) Both personally, and in the context of investment decisions at Multicoin

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Integrated Kyle e/acc

@KyleSamani

3 years

Solana

Elon Musk

@elonmusk

3 years

@TeslaGong @mishaboar @DogecoinFdn Not recently. What matters imo is lowering fees, decreasing block time & increasing block size. A single layer network with exchanges as de facto layer 2 seems like the simplest solution for a medium of exchange.

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@KyleSamani

5 years

This is very exciting... a p2p VPN with distribution to millions of users Could be one of the biggest breakthroughs in privacy on the internet since the advent of SSL h/t @brave @BrendanEich

VPN⁰: A Privacy-Preserving Distributed Virtual Private Network | Brave

This research presents VPN⁰, the first distributed virtual private network offering a privacy preserving traffic authorization and validation mechanism.

brave.com

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@KyleSamani

1 month

On Saturday, I completed the most difficult physical activity of my life: a 200 mile bike ride 6am start time. Finished around 9:55pm. Start in the dark, finish in the dark.

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@KyleSamani

3 years

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@KyleSamani

3 years

Take as much risk as possible Don’t stop working out even at 80+ hour work weeks

Madison Campbell

@martyrdison

3 years

it’s my 26 birthday and as a gift please give advice you wish you knew at 26

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@KyleSamani

5 years

Fascinating and counter intuitive

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@KyleSamani

2 years

9/ The train has left the station: all of the tech builders and investors have underwritten tech crypto as having a meaningful probability of reshaping commerce, finance, and the fabric of society at large And they are comfortable meeting on that and holding for years

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@KyleSamani

2 years

0/ A counterintuitive lesson on fund structures TLDR - hedge funds are better structures for *long term* investing than venture structures I say this having run one of each for 3-4 years now A thread for entrepreneurs and LPs

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@KyleSamani

2 years

I know it sucks rn But keep chewing glass It will get better wagmi

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@KyleSamani

2 years

I got a 4” cube

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@KyleSamani

2 years

First paragraph of ATOM 2.0 paper is absolute fire

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@KyleSamani

2 years

Have spoken with various teams around wormhole, exchanges, Stablecoins issuers, etc in the last 24 hours Remarkable to see everyone - including fiercely direct competitors - come together to resolve the situation as fast as possibly Wagmi

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@KyleSamani

3 years

3/ What does Musk know? Crypto is big, and getting bigger, and that he can do something(s) amazing with it The most probable explanation for his actions therefore is that he is figuring that out right now Long Musk! {fin}

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@KyleSamani

4 months

Working on my 2024 predictions rn @helium and @Hivemapper will be two of the leading torch bearers of the industry by EOY 2024

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@KyleSamani

2 years

1/ Broadly speaking, there are two cohorts of people in crypto Money crypto Tech crypto The zeitgeist of the space was dominated by money crypto people from 2011-2017 Since 2017, tech crypto has come to dominate the zeitgest

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@KyleSamani

3 years

Thoughts on @THORChain 1) 2nd exploit was not new bug. It was already there 2) it was known to be unaudited. Obv a little irresponsible, but also to be expected 3) Thorchain is probably the most complex crypto thing in the world other than bleeding edge ZKP stuff Wgmi

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@KyleSamani

3 years

0/ Sushi and super apps. A 🧵 Sushi just turned 1. I think Sushi is little bit lost, and doesn’t know what it wants to be when it grows up Multicoin owns some SUSHI

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@KyleSamani

3 years

1/ Musk is probably *the single most long term oriented human on the planet* He is trying to a) save the planet from humanity's gluttony (Tesla) b) save the human species from idiosyncratic risk tied to Earth (SpaceX) Literally no one operates on this timescale

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@KyleSamani

6 months

@Jason @cz_binance respectfully, 1) these claims are factually incorrect 2) your interpretations are the opposite of what is actually happening happy to discuss any time!

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@KyleSamani

22 days

The technical term for this behavior is gaslighting

Blur

@BlurCrypto

23 days

Oh wow, this is pretty bad from @RenzoProtocol 1st, a large portion of the tokens are going to investors and team 2nd, looks like they’re trying to skew how bad it looks with the design of the pie chart Notice the bottom “half” is 62%, whereas the two 2.5%’s appear to be ~20%

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@KyleSamani

3 years

0/ The new @CreamdotFinance Iron Bank is one of the coolest things I've seen in DeFi in a while Why? It actually *creates* value for tokens like YFI and ALPHA Huh?

Introducing The Iron Bank

Part II: The Road to Cream v2

creamdotfinance.medium.com

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@KyleSamani

3 years

Breakpoint LFG

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@KyleSamani

3 years

2/ So, what is Musk doing in crypto? I don't know But He is almost certainly playing the game at a level that you fail to appreciate

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@KyleSamani

2 years

What are the most interesting Cosmos based chains being built?

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@KyleSamani

2 years

10/ There is a huge amount of capital out there that will never believe in BTC because they don’t believe in owning non-productive assets There isn’t a single investor in the world that doesn’t believe that software isn’t eating the world

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@KyleSamani

5 years

Serious question Who in the world thinks it's a good idea to buy ETC in the middle of a 51% attack?

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@KyleSamani

3 years

How do you think we’re going to render the metaverse?

The Render Network

@rendernetwork

3 years

We’re excited to announce a new technical partnership with @solana and @metaplex ! The future of the #Metaverse is NOW, on the Render Network! $RNDR #RNDR #Solana #Metaplex #SolanaBreakpoint #BreakpointLisbon @SolanaConf

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@KyleSamani

2 years

BAYC surpassing punks in market cap is a harbinger of utility layer 1s (ETH, SOL, etc) surpassing BTC Lindy is nonsense

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@KyleSamani

3 years

I have watched every major keynote by every major tech co over the last ~15 years And the Meta keynote is by far the best and most important one January 2007 iPhone keynote will be looked back on as a rounding error

WATCH: Facebook Connect 2021 - Livestream

Tune in at 10:00am PT / 1:00pm ET on Thurs. Oct. 28 when Facebook holds its annual Facebook Connect. The company is expected to announce Oculus updates and o...

www.youtube.com

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@KyleSamani

29 days

Biggest problem in Bitcoin ecosystem is fragmentation of standards BRC20 Inscriptions Runes God knows how many L2s UX is going to rapidly degrade. All ecosystem participants - wallets, indexers, market makers, devs, etc. - will suffer

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@KyleSamani

2 years

6/ Tech people by and large don’t care about any of that stuff They just want to build cool new things If the price of BTC-USD goes down 50% because of gov actions, there is no real reason why that has to impact what people build, or phase investors who invest in tech crypto

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@KyleSamani

3 years

As we enter this new crypto bull market, lots of you are going to launch new funds When we started in 2017, we made all kinds of stupid mistakes A lot of people helped us. So we are looking to pay it forward DM if you'd like to chat. Always happy to help new managers

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@KyleSamani

2 years

The next 100M crypto users aren't going to use seed phrases

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@KyleSamani

3 months

Spent roughly 3 hours playing with Apple Vision Pro today. Some thoughts 1) the pass-through fidelity is impressive, but not yet ready for mainstream adoption. Things are still a little too grainy 2) the hand tracking is butter smooth, no matter where you have your hands (in

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@KyleSamani

3 years

So, Apple just announced yesterday that they’re allowing devs to go around Apple Pay for in-app purchases This was probably the single biggest risk to mass market adoption of crypto And prices didn’t really react Long your longs with longs. LFG

Apple will change its App Store practices in legal settlement

Apple Inc. will change its App Store policies in a legal settlement, the first major concession the iPhone maker has made amid multiple antitrust...

www.marketwatch.com

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@KyleSamani

2 years

Multicoin Capital had 0 LUNA or UST exposure

Darren Lau

@Darrenlautf

2 years

Dragonfly had 0 LUNA exposure - sauces

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@KyleSamani

2 years

11/ Over the next ~5 years, every pool of capital around the world will be buying crypto 100% of them will invest in tech crypto < 100% of them will invest in money crypto

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@KyleSamani

4 months

For the first time, we decided to share some of our thoughts publicly on areas we're excited for in 2024 Everyone's DMs are open, feel free to reach out!

What Multicoin is Excited about for 2024

At the end of every year we come together and discuss some of the biggest changes we’re expecting in the year ahead. For the first time, we’re publishing these ideas. Please feel free to reach out to...

multicoin.capital

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@KyleSamani

2 years

19/ Once BTC is flipped, it’s pretty much game over for BTC A large part of the value prop of BTC is that it’s the largest and most liquid Once those stop being true, it has even less to offer

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@KyleSamani

2 years

Just ordered a Solana phone AMA

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@KyleSamani

3 years

Solana right now is making serious inroads in onboarding web2 devs at the highest rate in the history of crypto

Arthur

@Arthur_0x

3 years

I'm gonna get chastised for saying this but the level of organic developers interest in @solana now is absolutely on 🔥now even for a non-dev like me.

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@KyleSamani

3 years

This is bigger than you think Brave is the most interesting canvas for crypto integration out there LFG

LukΞ Mulks 🦁⟁◎⟁

@lukemulks

3 years

News from the @BrendanEich @aeyakovenko @SolanaConf stage: - @Solana integration plans in-browser for Brave's +42M monthly active users - THEMIS to be built on Solana - Expansion of $BAT via wrapped $BAT utility into the Solana ecosystem. Here comes the 🔆, LFG! $SOL

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@KyleSamani

7 years

Just met with an institutional manager. $30B fund. Min check size $300M. Current crypto allocation: $0 We aren't even close to the top

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@KyleSamani

3 years

We are hiring for investment team! To apply, please write a thesis on the subject of your choice in crypto. The weirder and more non-consensus, the better. Only requirement is that it's as good as what's on our blog Please email to @SpencerApplebau and @shayonsengupta

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@KyleSamani

2 months

Excited to announce one of our largest investments ever, @zama_fhe , in which we co-led a $73M round along with @protocollabs Zama is the world's leading cryptography company focused on FHE FHE is going to reshape the fabric of computing

The Holy Grail of Cryptography

Today, I’m excited to announce that Multicoin Capital has co-led a $73M investment in Zama, alongside Protocol Labs

multicoin.capital

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@KyleSamani

3 years

My two favorite sources of alpha 1) Duration 2) Willing to lose 100% of your capital

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@KyleSamani

5 months

the @jump_firedancer client will be 200x more efficient in ability to receive and parse transactions in real time insanity

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@KyleSamani

3 months

Henceforth Solana shall be known as Bitcoin Satoshi’s Vision

jahris | helius.dev

@jahris_

3 months

wow WOW

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@KyleSamani

3 years

Avalanche, Celo, Fantom all announcing LM programs to copy-paste EVM code in the last week 1) All of them pursuing the same strategy is obviously bad for all of them 2) Stifling growth of their own ecosystems 3) Increasing regulatory risk

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@KyleSamani

2 years

14/ The world actually does not care about non-productive assets They want productive assets As they learn about crypto, they are gonna buy the productive things in far more size than the non-productive things

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@KyleSamani

4 years

0/ Some thoughts on the BTC halvening TLDR - it is *extremely* bullish There will probably be lots of volatility +/- 60 days the halvening, but that is not the point of the this thread

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@KyleSamani

2 years

At BTC Miami in May, I made two bets with @lawmaster , each for 1 ETH 1) That ETH will flip BTC by EOY 2021 2) That SOL will flip ETH by EOY 2022 Let the record show that I have paid 1 ETH for losing bet #1

Ethereum Transaction Hash (Txhash) Details | Etherscan

Ethereum (ETH) detailed transaction info for txhash 0xb5193aac1b26a842e47567ffe0f4e96fcb9abfb442edc33ce843b42624fe0c23. The transaction status, block confirmation, gas fee, Ether (ETH), and token...

etherscan.io

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@KyleSamani

2 years

2022 gonna be insane for Helium

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@KyleSamani

5 years

If it weren't for ETH, BTC would likely be at ~30% of its current value The 2017 ICO bubble Drew all the attention to crypto, and those watchers are now allocating to BTC

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@KyleSamani

1 year

0/ I've been thinking (and tweeting!) about AI over the last 6 months There are a lot of crypto x AI intersections - far more than what I've outlined in this post But this post outlines what I think are 4 of the most important

The Convergence of Crypto and AI: Four Key Intersections

The worlds of cryptocurrency and artificial intelligence (AI) have been evolving in parallel, with each domain pushing the boundaries of technology and innovation.

multicoin.capital

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@KyleSamani

3 years

Just left @aclfestival and saw this billboard

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@KyleSamani

3 years

0/ The single most important question in NFT land is How do you enable the long tail of creators - think 25M+ around the world - to generate say $50-100k / year in income, so they can self sustain A thread

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@KyleSamani

4 years

Watching a @ProjectSerum UI to see the order book flash on the right and update every 400ms is just magical It looks and feels *identical* to a CEX, but underneath, it's a censorship resistant DEX Welcome to the future

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@KyleSamani

4 months

Probably the sector of @solana that has been compounding most quietly, and is poised for success is payments 1) NYDFS blessing a few weeks ago 2) outstanding on-chain transfer volumes for USDC and USDT 3) Visa integration 4) shopify integration 5) token extensions about to hit

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@KyleSamani

2 years

4/ Money crypto people think primarily about interest rates, the politicization of central banks, etc Tech people care about building

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@KyleSamani

2 years

Who is best positioned to capitalize on the app chain thesis?

Cosmos

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See results

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@KyleSamani

3 years

We appreciate the support and relationship w/ @binance and are excited to develop it further! Binance is the most popular crypto product in the world. They are in an amazing position to build the future, and we are excited to work more closely with them

Binance Invests in Multicoin Capital | Binance Blog

Binance Invests in Multicoin Capital

www.binance.com

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@KyleSamani

2 years

8/ It’s possible that crypto is still a few years too early from truly breaking into the mainstream But I think at this point, that no longer matters

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@KyleSamani

3 years

I will happily take the other side of this and argue that SOL will pass BTC in market cap LFG

Bill Gurley

@bgurley

3 years

Great quote from a deep crypto big brain tonight "If SOL eats ETH then every single token is worth remarkably less." It really is "turtles all the way down," and there is no reason that each primitive can't be 100% altruistic, with zero rake.

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@KyleSamani

5 years

0/ Thread Today I'm excited to share Multicoin Capital's analysis and valuation on Binance coin $BNB ! It's available in English, Chinese, Korean, and Japanese Disclosure: we're long BNB cc @cz_binance @binance @BinanceLabs

Binance Coin ($BNB) Analysis and Valuation

Binance is the crypto exchange that best exemplifies Bezos’s famous quote. The industry leading exchange charges the lowest fees in the industry as a strategy and competitive advantage.

multicoin.capital

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@KyleSamani

2 years

0/ An alternative theory on why Ethereum DeFi has been underperforming TLDR - the market is becoming more *mechanically* efficient as professional trading firms build infra, and they are sapping retail’s DeFi yields H/t @SpencerApplebau and @TusharJain_

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Integrated Kyle e/acc

@KyleSamani

3 years

Over the last decade, Otoy's Octane has become the most widely used for creating 3D renderings for small artists (Beeple) and large (Disney) And now they're building the decentralized @RenderToken network on Solana, to scale out computations 1,000,000x+ to support the Metaverse

BrendanEich

@BrendanEich

3 years

Future is here and @OTOY invented a lot of it. From @JulesUrbach ’s Solana Breakpoint keynote.

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Integrated Kyle e/acc

@KyleSamani

9 months

0/ there’s been a lot of discourse lately about the benefits of modular systems, and the problems with integrated (fka monolithic) systems So I articulated all of the things that aren’t in mainstream discourse

The Hidden Costs of Modular Systems

Over the past two years, the scaling debate has narrowed and fixated on the central question of modularity vs integration.

multicoin.capital

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Integrated Kyle e/acc

@KyleSamani

2 years

13/ A small % of capital in the world is non-productive Fiat cash is ~$100T Gold is ~$10T Public and private equity, debt, and real estate are at least 100x larger

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