The Best Thing to Happen to Crypto

in trading •  7 years ago 

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Weiss Ratings has definitely become crypto’s best friend. Along with their objective analysis based on criteria faithfully linked to the core ethos of crypto, that is to say, a widely distributed, decentralized means of exchange and storage of wealth – something that gives them even more credibility than their independence and impartiality already gave them – they’re also publishing critical analysis free, on their website.

Have a gander at these quotes from a recent post:

A currency will have value if it is accepted and used by a large community of individuals, businesses, financial institutions, governments and others.

That was said in response to those who say cryptocurrencies “have no intrinsic value and should go to zero.”

For the first time in modern history, individuals can truly own and fully control their own wealth without relying on — or being beholden to — any central authority.

Remember, that's from an independent and impartial ratings agency - they have no reason to make things up or sugar coat; in fact, it's the opposite: they have their reputation on the line!

And to further bolster their argument that far from being a flash-in-the-pan, crypto is much more than currency:

Why Cryptocurrencies are MUCH MORE Than “Currency”

Most people have gotten into the habit of using the word “currency” for all cryptos. But what the critics seem oblivious to is the fact that crypto is really much more than that.

In fact, for most second- and third-generation cryptocurrency technologies, the term “currency” doesn’t really apply anymore. They are really crypto-platforms that are creating virtual economies and, potentially, even virtual nations.

Have I whet your appetite? These were all taken from their fantastic blog post Why These Crypto Critics Are Dead Wrong and it's only the beginning. Get over there to read the entire article!

And that's just one of the great articles they are publishing free of charge on their Weiss Cryptocurrency Ratings website.

It’s become a daily read for me.


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@cryptographic,
I am a big fan of WEISS Rating, but some how I have doubt about their weekly ratings!
In last weekly ratings they have mentioned LISK, DECRED, EOS and STEEM in B- ratings! I agree with STEEM, EOS, but why LISK and DECRED! I am personally thinking ETH, BTS should be there. As a result of that I think they are trying to giving positive pulses to few currencies that they feel as Favorite!
But I do agree with them at one point! They continuously ranked and ranking STEEM at the top crypto currency list! It's a must! STEEM is one of the future world crypto and a blockchain! That's how I believe!
Thank you very much for sharing this valuable article with us! I hope you will not stop your crypto exchanges and wallet reviews! I have few suggestions for that review list also!

Cheers~

I know what you mean when talking about LISK and DECRED, and ETH too, in my opinion, but those are differences of opinion. I think one must keep in mind that WEISS is new to crypto and, while there are many carryovers from other areas of similar analysis, there are just as many distinct specifics that all have their learning curves that even Weiss must deal with. As their coverage gains acceptance and as their knowledge on the subject grows, I expect that their analysis will get better and better.

Weiss Cryptocurrency Ratings should also become a vital selection tool for consumers holding cryptocurrencies to buy goods and services, for merchants accepting payment in cryptocurrencies, and for projects seeking to raise money via cryptocurrencies. Weiss Ratings’ overall goal is to help the public avoid both the hype and the fear – to invest and do business with more confidence and, at the same time, more awareness of the possible dangers.

I agree 100% that this kind of independent analysis should be a big help to the general public - the more objective and impartial analysis, the better.

I agree with you.. Your thinking is absolutely right ...
Thanks for your complement ...

Weiss ratings became the first insurance rating organization to issue independent financial strength ratings for life and health insurance companies. In 1993, Weiss also began publishing ratings for property and casualty insurance companies. Companies rated weak have a “D+” or lower rating.Strongest list displays companies with a “B+” or better rating. Companies rated strong are believed to have a low chance of failure. For example Steem . Weiss Ratings Means A: Excellent B: Good C: Fair D: Weak E: Very Weak . It will be exciting to see Steem reach A grade in future .

I really like the Weiss ratings for being open-minded to alternative consensus methods like DPOS. A lot of so called 'experts' only consider POW as an acceptable and secure way of validating things on a blockchain.

Just looking fundamentally at the underlying value proposition, a blockchain like Steem is among the very best choices. And rightfully so, I think.

I too believe that the fundamentals are 90% of the game when looking at underlying value in this space, and when you look at things from the point of view of a viable business, there's no other place to end up but DPoS. There logic is on par with mine in that regard. It's one of the reasons why I don't own BTC.

Great news and it is clear that the situation is changing for the better! According to the agency's website, the valuation was based on factors such as price volatility, price increases in 2017, market penetration, technological capabilities, security, decentralization and scalability. Weiss is the first leading rating agency that decided to evaluate the Crypto-currency in this way. A company that usually evaluates banks, credit unions, mutual funds and insurance companies takes a cautious approach, but at the same time claims that it is completely independent and "fundamentally incomparable to almost all other ratings available in America today ". Weiss does not give a coin "A", basically it's C. In other words, C + is treated in Weiss as "good enough". A large majority of the assets under evaluation received C, C + and C, including such big names as Ripple XRP, NXT, Peercoin, NEM, Monero, Stellar, Zcash, Zcoin and Verge. Only five received a more desirable B rating ("good"): Cardano ADA, EOS, Ethereum, NEO and Steem. So, that all speaks for improving the adoption of the crypto currency to the money in the near future and the Steem in this plan in the first positions! Thank you @cryptographic

"...based on factors such as price volatility, price increases in 2017, market penetration, technological capabilities, security, decentralization and scalability."

God that is great! And STEEM real does win on all fronts!

Thanks for sharing that.

They look like they are starting to become bloggers to cover the crypto industry. Not a bad idea. It is something that is needed, an independent source of information.

Perhaps this will help to stem some of the FUD that the MSM promotes.

The fact they are so high on STEEM endears them in our book automatically. The email they sent out the other day really covered why they are so high on it. I like the only drawback was the whales are too strong which is changing anyway.

I am going to book mark the page and be sure to visit it everyday.

I really liked that critical comment too. Totally spot on! Shows that the really know what they're talking about too.

I agree. They were fair and honest about it. They were critical without putting too much weight on the negative....at this moment. It is something to watch as most of us agree. The fact that the situations appears to be correcting itself is uplifting..let us hope it continues. I am sure if it does, this will be reflected in their future analysis and reports.

From a personal perspective, not that I need the reassurance, but it is good to get another pair of eyes in agreement with me (and you too) about the prospects of STEEM. Both of us are high on it for many of the same reasons mentioned by Weiss. The fact that we have skin in the game could make us biased...It appears this doesnt exist for them yet they believe, at present, it is the best blockchain to buy.

No doubt that our analysis is reaffirmed by the independent confirmation of professionals whose job is to rate different investment opportunities.

Completely agree with your statement " Good things are on their way for cryptocurrency". One is a correction, which is what's happening now. Prices are going down and people are selling their coins, but the pace at which this is happening is reasonable considering the prices rose equally as fast. At some point, an equilibrium between buyers and sellers will be reached and, unless we get more bad news, the growth will return, hopefully at a saner pace. I'm satisfied with Weiss cryptocurrencies ratings , Steem definitely deserve on the top. Weiss Cryptocurrency Ratings provide a well-rounded, solidly-grounded opinion based on hard facts. Thanks for sharing informative article with us.

I think that growth "at a saner pace" is likely for crypto in general, but STEEM and BTC might be a coupld of the rocket shot exceptions.

I think their reports have done a good job in presenting their methodology and provide guidelines on the items they are tracking. I definitely think that reports like these will add value to potential investors looking to research these assets. However, I always say you should never rely on third parties for investment decision making so do your own homework. I think the reports adds to the perspective you can create and contribute to your own. They are also pushing to hear more from the community on their blog which is always good as some companies shu away from receiving feedback.

Agreed on all points. Due diligence on all our parts can never be substituted, only corroborated! And yes indeed, that adds value when it comes from an independent ratings agency with a huge reputation and decades of experience.

This guys can really be a game-changer for the crypto community. I am very glad that such renowned experts have chosen to rate cryptos. To be honest if they weren't independent it certainly wouldn't have had the same effect.

Also when someones says that "BTC costs what it costs only because someone else is ready to pay X amount" If we take most of the traditional currencies, what are they backed by ? The government says 1$ is 1$ and thats it, they are not backed by anything, except the government. And currently the US government is 106% of GDP in debt, Japan is 250%. Why would I trust the government with the money ? Or any institution for that matter.

I think you're right in thinking Weiss is a game changer. Adding crypto to their universe of investment analysis certainly raises the status of crypto in the eyes of the outside world.

Agreed! It's hard to fully digest that right now because cryptos are not yet readily accepted as a means of exchange. Therefore, the goal an ICO is usually to raise cold hard USD to help fund projects/development, as opposed to raising ETH (as Weiss references as an example). I think we're still a bit aways from this but if you had an ecosystem pop up of vendors willing to accept crypto, you could break out of this mold and "ensure" non-zero value for cryptos going forward. Obviously this is hard to do for now since everyone pegs crypto to USD (human minds usually need a comparison point), but I have faith we'll see some evolution in thought here and an expansion of assets backing crypto.

Separately, I do wish Weiss could expand their services into evaluating ICOs. Because of the lack of regulation, my fear is that we're going to see more ICOs pop up with bogus whitepapers or theses, just intending to extract money from investors not actually develop a product. In today's market, there may be enough momentum to keep investors in the green, but it's a tenuous system in my humble opinion. Or maybe I'm just skeptic...

Yeah, I think ICOs could be a long way off though - when you think about it they're covering less than 100 cryptos

Thanks for the post @cryptographic!
You've been the person who made me to take a closer look at Weiss ratings shortly after they have been released. I do agree to all their B and B- valuations (these are the coins/platforms I bet on). I have 2 questions:

  1. Do you believe BTS has chances to go up in the Weiss ratings this year?
  2. What could be the main reasons for it?

You know, when they put BTS side by side with STEEM, I don't think they can help but to rate them equally. That for one is reason enough to raise BTS. Expanding the BitShares user base would be a possible catylist, and BTS is actively working on just that.

Wow, for once there is somebody out there who says that crypto isn't a currency who isn't bashing it. Usually that is only said as an argument again it, but this is a breathe of fresh air. Not bad timing either. I've been waiting for a little more forward action than we've been getting.

Yeah, that was really a great way to stand conventional wisdom on its head, and to really make you think about what the possibilities really are.

The current crypto market cap as of January 2018 is $700 billion. Let’s put this into perspective. Bill Gates is worth $86 billion. Warren Buffet is worth $83 billion. Apple is worth $900 billion, yes Apple is worth more than the whole crypto market as of January 2018. The entire global USD circulation is roughly $1.5 trillion. The gold market globally is worth $8 trillion. Stock markets in total are worth $66 trillion and the entire supply of all money invested or in existence on the planet is roughly $84 trillion.

Great figures to help keep perspective. Personally, I go with M3 broad money numbers as a better comparison on the monetary equivalents level though.

it truly is encouraging news, can't wait for the world to get past the fear of bitcoin, there is still quite a big resistance to change

I think that when it happens, it will be with a bang.

  ·  7 years ago (edited)

Hello @dennisschroeder,

Weiss Ratings has definitely become crypto’s best friend. Along with their objective analysis based on criteria faithfully linked to the core ethos of crypto, that is to say, a widely distributed, decentralized means of exchange and storage of wealth – something that gives them even more credibility than their independence and impartiality already gave them – they’re also publishing critical analysis free, on their website.

Extraordinary good description about Weiss Rating & their services are truly valuable to all crypto people to identified where to invest. I went to the link you provided & understood their wide area knowledge about crypto currencies & they offer a valuable free article which is useful to all readers who willing to be a part of crypto & people who already became a part of crypto.

Cryptocurrency is not just currency. It’s also a platform for a virtual economy that’s directly linked to the real world.

This is what they (Martin and Juan) said. It's a very strong statement.

My idea of Weiss rating is not wide as yours. I heard they published crypto ratings under few different criteria & Steem is one of their best. The rating helps to give a public eye to Steem & Btc under rating were discussed widely. It's a incredible good opportunity to Steem to show it's strength to the world & it worked well. I wonder Weiss will rate Steem in rating 'A' in future with Steem's enhancement with SMT innovation.

Incredible good article & very informative post to all Steemit community.

~@mywhale

Excellent post, i like weiss rating and now you tell that they also post very nice articles free of charge, i also try to read their articles from now on, i also want to share my opinion regarding cryptos that we all want freedom we are born free and this is our right to live free as well why we deposit out hard earned money to those banks and then they start controlling our money and we are no longer in a condition of use it freely, we have a far better option available now to save our money in shape of cryptos and by doing this we also have a full control in our funds no middle man use our funds for his own sake, the future of cryptos is so bright and we surely see more developments and growth in cryptos with the passage of time, thanks for sharing your nice thoughts with us friend, Stay blessed.

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Weiss Ratings has released a cryptocurrency ratings giving Ethereum a B and Bitcoin a C+ . The securities ratings agency said that ethereum was given a B rating because it "benefits from more readily upgradable technology and better speed, despite some bottlenecks."

Bitcoin was given a "fair" C+ rating because the digital currency is "encountering major network bottlenecks, causing delays and high transactions costs," according to a release. "Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code."

Sounds very reasonable to me, and I'm not just saying that because I agree, but I could be biased. 😉

Yes.That's cool.
After 5 days...😃 Thank you

Really, i am a big fan weises Raating. along with their objective analysis based on criteria faithfully linked to the core ethos ot crypto.Good bless you. Thank's for the sharing post.

@cryptographic - Sir what do you think about Weiss crypto rating? I heard a lot of people argued about it's rating C & BitCoin is at that rating... I think Sir, rating C doesn't mean it's not a good to buy... People mis-interpret about rating C... Here what Express journey interpret rating C of Weiss crypto rating...

'According to Weiss, a C rating is a passing grade which for investments implies the equivalent of ‘hold’.'

Weiss Ratings are handed out on a scale of E to A. The ratings scale is:

  • A = Excellent
  • B = Good
  • C = Fair
  • D = Weak
  • E = Very weak

Sir can we believe Weiss crypto rating is an accurate way to understand where we should invest next? I think Sir, your market analysis are much better than their ratings... You said STEEM, BTS, EOS, ADA, after few weeks from your prediction Weiss said the same... I feel funny at that time about their ratings... I also feel glad about yourself... You have the correct market sense than them Sir...

+W+

I think Weiss is one of the best.

It sure has become a reliable place to get a hint to !
While in no time crypto will become a valuable source of money in the real world as of it as well now.It will be right answer to those who are against it !
All the very best to us !

weiss rating is working great and they love steem the most in recent days after they came to know its potential don't know much about it before but got to learn a lot from your post so thanks to you for sharing :)

Many didn't know about this earlier but when they give steem their rating for the first time they went crazy definitely now they have huge impact on the crypto world

Weiss ratings seemed to come out of no where, i am to believe that they are trusted but i don't know i guess i will give them a chance...

  ·  7 years ago (edited)

@cryptographic The ratings should reflect strictly the quality of work
and its relative success in the real world , solid project is the future

It'll be very interesting to see if these ratings affect the coins at all or will it be largely unimportant.

Oh I think the effect will be very positive, for the winners anyway.

I agree with you "crypto will have value if acceptable in a community, individuals and others"
However, not all individuals or countries receive good crypto, perhaps there are other reasons for them, and I'm sure if crypto is evolving, all bank assets are going down.
Maybe that's one of the reasons for not accepting the crypto. thanks @cryptographic

Steem is the highest rated crypto! Any idea of how often the Weiss ratings are updated?

I think weekly.

People do really call crytpo currency, yes for some people. It can be called a currency but it very different from a paper money. . Crypto currency are very much than a currency because the rate of the price of Cryptos reduce and increase daily has you have said before @cryptographic. Thanks for sharing the information awareness to us. Looking forward for your next post.

Thanks for sharing your post ...
Its really good idea .... It is something that is needed, an independent source of information.

Perhaps this will help to stem some of the FUD that the MSM promotes.

@cryptographic wow nice post great article
##Upvote/Resteem###

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Fantastic thanks for sharing!!

i always follow you for your work.i am like your activity.

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thanks @cryptographic,

I am a big fan of WEISS Rating, but some how I have doubt about their weekly ratings!
In last weekly ratings they have mentioned LISK, DECRED, EOS and STEEM in B- ratings! I agree with STEEM, EOS, but why LISK and DECRED! I am personally thinking ETH, BTS should be there. As a result of that I think they are trying to giving positive pulses to few currencies that they feel as Favorite!
But I do agree with them at one point! They continuously ranked and ranking STEEM at the top crypto currency list! It's a must! STEEM is one of the future world crypto and a blockchain! That's how I believe!
Thank you very much for sharing this valuable article with us! I hope you will not stop your crypto exchanges and wallet reviews! I have few suggestions for that review list also!

This post has received a 1.32 % upvote from @booster thanks to: @cryptographic.

Weiss Ratings, the nation’s leading independent rating agency of financial institutions, issued letter grades on cryptocurrencies, including Steem, Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, Monero,and many others.I am happy that steem was rated as a top cryptocurrency .

The block chain has improved our lives very much. We can use it to do many things.

For sure it has put Weiss ratings back in the spot light. There is no doubt that they have increased their paid subscriptions by the thousands. The market doesn't seem to react to their report. After the weekend it will be forgotten and it is crypto business as usual. Though I am very happy for Neo to be given a B-and not worse. Even though I question some ratings. And as an investment I think Neo is better than the rest. Does Eth,Cardano ,Steem and Eos pay dividends in form of another coin which is the fuel of the platform or something similar on the level with Gas? After 7 months of holding Ans/Neo I have recovered all of my original investment through Gas.Maybe there is better investment/speculation out there but Neo is pretty good. Somehow it maybe the lack of vision what a smart economy and its ecosystem entails that has influenced the weiss rating.

Therefore I shall correct the rating to B+ for Neo.

This is from the Karma verified rating agency CryptoNutmegAndMace.

@cryptigrapic

Wow that's a great important post share you man.
Salute you boss.
And I wait for your next update post.

I couldn't spend time here on Steemit lately, and there are some articles which I know that I had to read, from what I have seen in my news-feed and postponed reading them. Today I have borrowed some time and I used it to read some of the articles that were on my list :D

I know Weiss Ratings gave a lot of help to Steem when they ranked it somewhere in the top cryptocurrencies, but I am still concerned about their effect over the market.

Weiss Ratings have such a big effect over the market like when they rate a crypto to be one of the best, the price of that crypto pumps. The same thing happens for bad reviews over other cryptocurrencies which may lose value when they receive a bad rate. This is a dangerous game to play for crypto market which is very volatile these days, and if somebody succeeds to corrupt Weiss Ratings, then the prices of crypto can be manipulated easily to favor somebody's profit.

I hope that won't be the case and that everything will go well with them, even though I keep myself cautious because we are still at the beginning of the cryptocurrencies era so they are still volatile, not regulated and bad guys continue to play with it (like BitConnect did:)

upvote and resteem done

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Excellent article. I am very glad that, in the summer of last year, I discovered crypto-currencies. I am especially glad that I discovered STEEM. This discovery allowed me to accomplish a myriad of my small goals and it is with the help of STEEM that I plan to save money to purchase my home.

Отличная статья. Я очень рад, что, летом прошлого года, открыл для себя криптовалюты. Особенно я рад, что открыл для себя STEEM. Это открытие позволило мне осуществить множество моих мелких целей и именно с помощью STEEM я планирую накопить средства, для приобретения своего дома.

Individuals do truly call crytpo cash, yes for a few people. It can be known as a cash however it altogether different from a paper cash.Digital money is particularly than a cash in light of the fact that the rate of the cost of Cryptos decrease and increment day by day as you have said previously....

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Crypto will have esteem if worthy in a group, people and others"
Be that as it may, not all people or nations get great crypto, maybe there are different purposes behind them, and I'm certain if crypto is developing, all bank resources are going down. Perhaps that is one reason for not tolerating the crypto. much appreciated.

Mr. Magoo found a series of multi accounts of a same owner is following your articles to cheat your generous rewards.


Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions: Mr. Magoo
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