Weiss Ratings Agency issues ratings on cryptocurrencies and Steem lands in top 5!

in news •  10 months ago

Not only that, but technically Steem was tied for 3rd out of all the 74 cryptocurrencies that were evaluated.

Not bad at all!

Steem actually had a better overall rating than stalwart Bitcoin, which was downright shocking to say the least, especially when comparing their current market caps.

Steem received a "B-", while Bitcoin received a "C+" rating.

Not one of the 74 coins received an "A" rating.

Which is actually somewhat normal considering that the 47 year old Weiss Ratings has been known for their lack of "A" ratings on insurance stocks, mutual funds, and other securities they have covered in the past.

Weiss Ratings is based in Florida and is less well known compared to better-known agencies such as Standard & Poor's and Moody's. Weiss says it does not accept compensation from the companies it rates for issuing the rating.

Weiss is said to be the first ratings agency to offer ratings on cryptocurrency, which appears to be yet another feather in the cap of the cryptocurrency market becoming more institutionalized seemingly by the month.

Ethereum and EOS both tied with the highest ratings given, receiving "B" grades.

Steem tied with NEO and Cardano with the next highest ratings. All receiving a "B-" grade.

More about Weiss can be seen here: https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2

How were the ratings calculated?

Weiss says their ratings system is completely unbiased and independent.

Specifically, it uses a computer model to rate cryptocurrencies based on 4 key metrics:


(Source: https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2)

Next to their rating of steem, they had this to say:

"Steem (B-) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature."

I was pleasantly surprised to say the least.

Hold on to that SP tight folks, it appears we have a really good coin here!

Stay informed my friends.

Image Source:

https://steemkr.com/cryptocurrency/@jorlauski/cryptocurrency-to-be-graded-by-ratings-agency

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Great news! I don't think its a coincidence that Steem has a nice rise today while the news is disseminating.

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I don't think so either. :)

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Hopefully agencies like Weiss begin rating exchanges as well- it would be meaningful to see reputable organizations rate exchanges. It might even drive up the value of coins too.

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Interesting thought @otage. I think the level of transparency that Steem shows the public is a huge asset here. Many of these ratings agencies also are bound by the size the security/investment they are grading. You could be the most sound fiscally, financially for over a hundred years, but if your asset base is not high enough your rating cannot exceed a certain grade. That news surely didn't hurt! Cheers @cryptkeeper17

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Now that you mention it, that could be the reason. I thought the jump came from an article on ZeroHedge, but it looks like I was wrong. Given the circumstance, I'm glad to be wrong. :)

Just hope Weiss does a better job than they did in 2007 rating banks and their safety. They were off by miles and would have totally balked if it weren’t for the bank bailouts. Ratings have value; but don’t get complacent, keep doing your homework.

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I didn't know much about them back then. I read recently that they have been one of the better ratings agencies in terms of not shilling crap, though. Perhaps they have a short memory?! :)

https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2

Shared on twitter. Stephen

2018-01-24 23.10.31.jpg

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Awesome! Thank you! Hopefully this reaches a lot of people. Pretty good press for steem!

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I am willing to bet that it will be number 1 sometime too. Thanks for the info.

The price pop is nice of course but wow, the volume has been massive, a lot of it from Korea:
https://coinmarketcap.com/currencies/steem/#markets

Hello, I have a question when I started steem yesteday everytime i upvoted my self it give me 0.01$ now it dont give me anything can you do a post explaining why this could be interesting

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How much your vote is worth is determined by how much steem power you have, how much voting power you have, and then also the current price of steem. If I had to guess I would say that your voting power probably is down now compared to when you first started upvoting. Check out https://steemd.com/@eljuans to see your voting power.

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The dollar amount is an approximation and depends on the current Steem price (averaged), your Steem Power and your voting power at the time of the vote. Also check the FAQ for more info.

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I have been on here 6 months and am not a 38 like you. You must have done something right.

I was going to post about the ratings but you killed it. No need anymore. 👍

As long as the Weiss rating doesn't measure or look at what problem the coins solves and therefore it's usability in the real world, I would rather call it the Scheisse rating.

The functionality of this platform is an incredible testament to the potential of Steem. Onwards!

great news..and great information for me about steem value and i think steem value goes up in feb 2018..

I think that makes sense. But what we have most, if we can focus it like a huge laser, is several very powerful ones, is the Community. Even a short pause in the squabbles over individual rewards, and a co operative focus on finding and evolving the best ideas and writing, and we could take steps towards popular adoption. The 50,000 active user accounts, all by themselves, without successfully outward facing work, obviously isn’t going to be Remotely enough for us to become something really significant, but we do have the passion, the creativity, the people, to create something amazing here, that’s ultimately worthy of the high-quality chain we’re using. Alx

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At the moment, I’m pretty consistently looking for wide open, bright, fast, compassionate minds, to hyper interactively work in conversation, to solve some of the issues which may be preventing steem From being as big and as good as it should be. if you use Discord, And have any time to talk with people who are new, to you at least, I’m in the following server, it’s a small one, about half of every day. Thanks, Alx. https://discord.gg/nAVZA8

I would not need a rating agency to know that Steem is gonna moon :P

I hold some of all the coins with a B-B- grade.

Beautiful

Now imagine if you will, that Steem is evenly priced as BTC @ 11,281.00 (as of today), that would be a hail Mary!

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If it were just priced evenly with EOS in terms of market cap, it would be worth roughly $56 today. ;)

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Yeah that would be a hey mary for sure... if it were on more wallets like a Jaxx, I bet it could start that climb.

Good jop my friend

Steem will be best

This is great not just for Steem but for the whole crypto market in general as more and more recognise this space.

Very impressive. I thought that steemit had not too much liquidity

damn Bitcoin getting pwnd by Steem, crazy :D interesting post man !!

Wonder if that is part of the reason why steem has moved up in recent hours.Thanks.

The steem future is very bright. Thanks to Steemit, it is providing social media with support. Increasing the SP amount is becoming increasingly difficult. especially for beginners. I think the best way to boost SP is to hire power but it is not clear when you will come to it. Do you have any information on this? @jrcornel

Keep going higher steem, we are here for you

That's really interesting to know. Thank God I am part of steemit. If Weiss rating on Steem is really accurate ,I love to show my "doubting Thomas" friends. Who doubt me when I told them the benefit of Steemit. Thanks for sharing this post.

People on Etoro were talking about this all day and making no sense, thanks for clearing it up.

With the Weiss ratings.. Steemit is on a roll. Let's continue investing in steem and post more good content to keep our currency on top and keep earning big. This will as well challenge those who haven't joined to get part of the high achievers. Let's go steemit

Thank you for this post. Steem will be best

Makes me want to load all this up into a spreadsheet and measure crypto with a eigenvector centrality model.

All right let's go all the way Steem. $100 we can do this.

thanks ^^

Indeed cryptocurrency- Steemit is taking over. I am everybody i meet to sign up for steemit because with steemit, i see a brighter future.

Good to know! Might buy sp instead of other coins.

Bought some more today!

I will try it. Thanks

Thanks for including some detail about Weiss and the metrics it uses to calculate its #cryptocurrency ratings. I saw a post about this earlier today, but it lacked those details. It's nice to know that Weiss is an established ratings house and not a recent start-up. Even if it's below-the-radar, Weiss' name has clout because it's long-established.

Weiss says it does not accept compensation from the companies it rates for issuing the rating.

Good! That's how the biggies used to operate, and the degradation of ratings tracks nicely with they accepting compensation from the companies they were rating. Weiss clearly has a name.

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Wonder if they will rate biconeeeeect!

When blockchain protocols that have a working product get inspected closely and evaluated all Cryptos win. It increases the legitimacy and visibility of the shining stars of the market. Good press is needed to counteract the negative headlines that often get sensationalized in the news.
Steemit is a first mover in the sphere of social media blockchains and in my opinion has a great community.

Weiss says it does not accept compensation

Interesting; which may explain why BTC wasn't over-esteemed.

Hold on to that SP

As the apps increase, so does the optimism for this crypto going to the moon!

Many thanks for this very informative post.

Peace.

This ratings seem all over the place

It is great news for STEEM! While I do not agree with a lot of their ratings, I think their STEEM evaluation is quite accurate.

The possible use cases and mass adoption scenarios for Steemit are almost endless. there is such a huge growth on the platform happening every single day that it is easy to imagine the platform becoming a lot more widely adopted in 2018.

This rating seems very poor to me. Coincheckup.com is much much deeper. This is nothing but i'm hapoy steem is there anyway.

This indeed looks good and somehow confirms most of the people (and mine) beliefs. I expect that Bitcoin will decline in time unless it goes to a new mining algorithm that it will allow it to scale and be more decentralized, without consuming a lot of resources.

What intrigues me is that Ethereum which has some lacks compared to Steem is ranked higher.

Their brand will THRIVE as crypto grows! Can't wait for the future.

Very great stuff. It is so hard to research all these coins that these types of ratings can help narrow down what I should be researching... and steem is a great coin indeed and deserves a great rating! Go steem!

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HELL YEAH! That explains why those 5 coins pumped like crazy today haha! Good thing I already own most of them.

Steem worth more than it's value nowadays when we consider the service being provided by Steemit, i have never seen a community like this before , so it's just a matter of time , Steem will rise more when more people will recognize it's value, even in this situation when the market is going down Steem is doing far better than the majority of the other Cryptocurrencies

thanks for the information

Dan “The Man” Larimer shining brightly in this list.

Eos going to crush it!

This news made my day.

The land of the heavy weights annoints crypto with Wiess Ratings: https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2

What with all the blockchain talk at Davos2018 it's gong to be a special year for #crypto.

This kind of exposure helps Steem tremendously! I was very pleased to see Steem in the best 5 spots near ETH, Cardano, EOS, and NEO :)

I would say this is a starting point, even if I do not really follow the underlying reason of their ratings.