Dear Steemians,
I know there has been a lot of FUD and critics about yesterday's Weiss Cryptocurrency Ratings Report.
Nevertheless I would like to highlight a few things
- This is a step in the right direction, the more analysts will look into Cryptocurrencies and try to develop models and reportings theless likely scams as Bitconnect will harm our community
- I understand everyone of us has a different view on Cryptos but I think their Top Picks have some fundamental research
- This intiative migh push other Ratings agencies to invest in the field and develop their Crypto Knowledge and as we all know, the more you learn about Cryptos and Blockchain the more you understand how it will change lives
What is Weiss Ratings?
Weiss Ratings’ 46 Years of Experience
Weiss Ratings, which began in 1971, is the nation’s leading independent rating agency of financial institutions. Today, Weiss Ratings assigns letter grades to about 55,000 institutions and investments, including nearly all of the nation’s insurance companies, banks, credit unions, stocks, ETFs and mutual funds.
Unlike Moody’s, Standard & Poor’s, Fitch, and A.M. Best, Weiss Ratings never accepts compensation of any kind from the companies or entities it rates. Its revenues are derived strictly from individual investors, consumers and other end users of its ratings.
Weiss Ratings’ strict adherence to objectivity and independence has consistently paid off in the form of accuracy — both in warning the public of dangers and leading the public to the best returns.
The U.S. Government Accountability Office (GAO) found that the Weiss Ratings of life and health insurance companies were first in warning of future financial difficulties three times more often than A.M. Best and many times more often than Moody’s, Standard & Poor’s or Duff & Phelps. Similarly, a follow-up study by Weiss, using the same methodology as the GAO, found that Weiss Ratings was also the leader in correctly identifying the truly safe companies that do not experience any financial difficulties.
Let's Deep Dive into the report
Weiss Cryptocurrency Ratings Scale
A = excellent
B = good
C = fair
D = weak
E = very weak
The Model
Layer 1. Current data on each currency’s technology, performance and trading trends
Layer 2. Proprietary formulas that convert the data into comparable ratios.
Level 3. Proprietary sub-indexes that aggregate the ratios to measure key factors and features considered critical to the potential success or failure of investments in each cryptocurrency
Level 4. Aggregation of the sub-indexes into four key indexes, each meriting a separate letter grade
Level 5. Aggregation of the four key indexes into an overall letter grade
Rankings
Top Cryptos
B Ratings
Ethereum and EOS
B- Ratings
Steem, Cardano and NEO
C+
Ark, Bitcoin, GByte, Dash, Decred,Litecoin, NEM,
My opinion
For those that follow my posts, you know that I believe Ethereum was the Crypto that changed and improved the field's possibilities, this is why I would agree with the Top Grade.
In addition, you also know that from a technical and community point of view I think EOS will be able to compete and even outgrow Ethereum in the future so I have to also agree with this Rating.
Then we have Cardano and NEO Blockchains that I believe are alike Ethereum. I must admit that I do not know them very well to conclude on them.
Nevertheless, the biggest surprise is seeing STEEM rated at the 2nd best Spot !!! This is probably due to the high scalability and the fact that our community is strong and growing fast!
What is your opinion on these different Ratings?
Sources
https://weisscryptocurrencyratings.com/ratings/the-weiss-cryptocurrency-ratings-explained-15
https://weisscryptocurrencyratings.com/
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