Weiss Cryptocurrency Ratings

Discussion in 'Digital Currencies' started by whay, Jan 22, 2018.

  1. whay

    whay Well-Known Member

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    Weiss Ratings, a U.S. independent rating agency, had announced that it will issue letter grades on cryptocurrencies, to be released Wednesday January 24. Beyond market leader bitcoin (BTC), the rating agency will also issue grades for ethereum (ETH), Ripple’s XRP, bitcoin cash (BCH), cardano (ADA), NEM (XEM), litecoin (LTC), stellar (XLM), EOS, IOTA, Dash, NEO, TRON, Monero (XMR), bitcoin gold (BTG) and many others.

    https://news.bitcoin.com/u-s-rating-agency-to-issue-bitcoin-and-cryptocurrency-grades-wednesday/

    Are cryptocurrencies going mainstream?
     
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  2. renovator

    renovator Well-Known Member

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    Really ? Its just another way to manipulate the truth for someones benefit.

    Ratings agencies are notoriously inaccurate & mostly wrong
     
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  3. long88

    long88 Member

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    sound like more price control manipulation.
     
  4. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    crypto is not going mainstream in local market, in Australian context we dont consider USD as mainstream.

    Though crypto can be considered foreign currency and if youre considering foreign currency in "main stream" I can see that happening.

    In most countries that unofficially operate a dual currency, there is always a local currency.

    Many places in London take Euros, everything is priced in Pounds. So some do take a punt, because EURO/POUNDS dont go up or down 10% a day. But the foreign currency always has "fee/risk" built in.

    The only country I am aware of where crypto is trying to go mainstream officially is Japan. But like UK/Euro it is still a hassle as it needs a conversion back to local currency.

    Also for it to act like a local currency it cannot be volatile where it swings up or down 10% a day as above, for a business owner to say "we will take the risk"

    Say Toyota in Japan was going to accept BTC or Dogecoin, what takes precedence in valuing the car in JPY or BTC on the for-sale sticker. It is very unlikely to say " 2218000 YEN or 2 BTC" more like 2218000 Yen and we accept x digital currency

    Where as in UK Toyota might take the risk and put on the sticker "14000 pounds or 16000 euro"
     
  5. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    So what's the difference between me/you/us/public doing our due diligence, research etc and sharing/discussing our findings on various social platforms and some random company?

    It's not like they have access to super secret info that the rest of us don't

    Sounds like their just trying to cash in and use their name, which might mean something to some people who already use them (and could help with mainstream adoption), but for those of us that don't, I don't think we could care less about what their ratings will be

    Admittedly, I will be curious to see how they actually rate each coin, just to see if they know what their on about and provide balanced factual information or not
     
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  6. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    At a guess

    Step 1 - Rate blue chip coins accurately
    Step 2 - gain market acceptance as the thing to do to get your coin looking legit
    Step 3 - new comers pay per play - - tier rating based on "fee paid"
     
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  7. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    by the way who are weiss rating, never heard of them
     
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  8. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Ratings agencies’ power to influence are derived from government legislation mandating that investments must meet benchmark approval from the likes of Moody’s, S&P etc.

    Until that point in time Weiss’s assessments will be taken with a grain of salt.
     
  9. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Exactly what I am asking, as far as I can tell, it is not a recognized statistical rating organization aka Moody, Fitch and S&P.

    Could be professional paid for pumpers
     
  10. southerncross

    southerncross Well-Known Member Silver Stacker

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    Still yet another indicator that Fiat/Feds/Banksters are having to recognise that Crypto isn't going away any time soon.
    I get the cynicism totally ( look at the Ratings Agency's just prior to 2008) but look at it another way and it is just another path
    forward to mainstream adoption.
     
  11. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Weiss is more akin to marketing company than a rating agency. It’s seem their only claim to fame is four regulatory fine and that they will rate crypto.

    It is listed as 100 employees, based out of Palm Springs Florida. Looking at google maps of the building doubt 100 staff., as they are not even the main tenants.

    it’s unlikely location for financial services company.

    Putting two and two together, and their past fines, if any weird coins get rated with the usual btc, etc etc.... look for a major pump and dump, and the people behind those coins probably are the people paying for the rating, and also send8ng out t(e press release to media.
     
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  12. whay

    whay Well-Known Member

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    I won't be surprised banksters coins will gets top rating.
     
  13. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    mmm....shiney! likes this.
  14. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Nope.
     
  15. whay

    whay Well-Known Member

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    And no rating for OMG.......
     
  16. Cillvir73

    Cillvir73 New Member

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    These ratings systems are all bull crap. Ignore their manipulation and fud.
     
  17. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    What manipulation?
     
  18. dozerz

    dozerz Well-Known Member Silver Stacker

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    weiss trying to remain relevant, epic fail.
     
  19. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    They were never relevant.

    That report was paid for promoters of cardano and steem coins
     
  20. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Interesting comment. Charles Hoskinson criticised the ratings. He argued BTC should have received an A. Not really a comment that someone who allegedly paid for the ratings would make don’t you think?

    D94A9DD2-DEC5-4D22-B83B-0D1A45EC96F8.png
     

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