The Best Thing to Happen to Crypto
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.
Read the "The Dos and Don’ts" here if you're not aware of my rules.
@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
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.