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| February 18, 2018

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Explorer Turned Back, but Decision Came Too Late

February 12, 2018 |

After 71 days and more than 900 miles, British explorer Henry Worsley finally made the agonizing decision to end his epic journey through the Antarctic in early 2016. The decision, however, came too late, and the 55-year-old died of organ failure after being airlifted out. Incredibly, he was just 30…
Newser

Weiss Ratings Defends its Decision to Give Bitcoin Only a C+ Grade

February 8, 2018 |

Weiss Ratings Defends its Decision to Give Bitcoin Only a C+ Grade

Wall Street is known for being a cut throat place where shrewd business people play as tough as possible in order to make gains or their destroy opponents. However, the crypto ecosystem can be at times far more nasty than any other market. One company that had the audacity to rate everyone’s favorite cryptocurrency somewhat poorly learned this recently, but it still stands by the rankings. 

Also Read: NFL Superstars Like to Talk About Bitcoin Just Like the Rest of Us

Crypto+

Weiss Ratings Defends its Decision to Give Bitcoin Only a C+ GradeWeiss Ratings, an independent U.S. rating agency which recently issued letter grades for cryptocurrencies has published a new report to explain its decision to score bitcoin a mere C+ (“fair”).

The company obviously felt it needed to counter attack against critics after its rankings caused it to get hurled insults from many cryptocurrency people and opinion leaders on social media. It even suffered a cyber attack which took down the Weiss site temporarily. The 14-page report is meant to answer the outcry by revealing key factors and data behind the rating.

Where is my A?

Weiss Ratings Defends its Decision to Give Bitcoin Only a C+ Grade“For investors,” explains Weiss Ratings founder Martin D. Weiss, PhD, “an A rated crypto would be one that rarely crashes, and right now, there’s no such thing. But we do understand where developers are coming from. They tell us they don’t care about market fluctuations. They feel our ratings should reflect strictly the quality of their work and its relative success in the real world.”

Aiming to address both investors and developers, the Weiss model combines a number of sub-models: Risk and Reward, adapted from its stock and ETF ratings, plus Fundamentals and Technology, which are unique to cryptocurrencies. Here’s how they determined bitcoin performs on each:

Risk and Reward-“Bitcoin investors have recently made less than altcoin investors, while continuing to experience the risk of extreme volatility.”

Fundamentals-“Due credit is given for adoption and security, but Bitcoin loses points on network congestion with just four transactions per second and high fees of about $ 10 per transaction. In addition, the top five miners control some 70% of total hashpower, also a negative.”

Technology-“Bitcoin lacks the governance needed for prompt upgrades and is falling behind in a rapidly evolving industry.”

Another criticism that was leveled at the agency is that Weiss overweights price volatility. “Not so,” he says. “Our model accurately reflects an inconvenient truth about the market’s extreme swings. But our ratings are continually updated. If prices stabilize or speed enhancements are rolled out successfully, an upgrade is possible.”

Should cryptocurrency investors even worry about what rankings? Tell us what you think in the comments section below.


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Weiss Ratings Defends its Decision to Give Bitcoin Only a C+ Grade appeared first on Bitcoin News.

Bitcoin News

New Trump Decision: Whether to Release Democrats’ Memo

February 6, 2018 |

President Trump has one more big decision to make in regard to “the memo.” The House intelligence panel on Monday voted unanimously to make public the Democratic rebuttal to the GOP’s memo on the Russia investigation. As with the original memo, the president now has five days to review it…
Newser

Samsung Heir Walks Free After Surprise Court Decision

February 5, 2018 |

Samsung heir Lee Jae-yong was freed Monday after a South Korean appeals court gave him a 2.5-year suspended jail sentence for corruption in connection with a scandal that toppled the country’s president. The Seoul High Court softened the original ruling against Lee , rejecting most of the bribery charges leveled…
Newser

Fallout From Apple’s Decision to Slow Phones Just Got Worse

January 31, 2018 |

US authorities are investigating Apple’s slowing of older iPhones, according to published reports. The Wall Street Journal and Bloomberg reported Tuesday that the Department of Justice and the Securities and Exchange Commission are investigating whether Apple violated securities laws. In December, Apple apologized for the slowdown after a blogger’s tests…
Newser

After a Dramatic Rescue, a ‘Terrible and Painful Decision’

January 29, 2018 |

Climbing partners Elisabeth Revol and Tomasz Mackiewicz are believe to have achieved their goal of reaching the summit of Pakistan’s notorious “Killer Mountain” in winter—but at terrible cost. The pair called for help from Nanga Parbat on Friday and Revol, a French national, was brought down early Sunday after…
Newser

CNN

The decision for athletes to appear under a unified flag at the opening ceremony is a diplomatic breakthrough

January 17, 2018 |

North and South Korean athletes will march together at the Winter Olympics opening ceremony under a unified flag representing the entire peninsula, South Korea announced Wednesday.
CNN.com – RSS Channel – World

Judge Blocks Trump’s Decision to End DACA

January 10, 2018 |

A federal judge on Tuesday night temporarily blocked the Trump administration’s decision to end a program protecting young immigrants from deportation. US District Judge William Alsup granted a request by California and other plaintiffs to prevent President Trump from ending the Deferred Action for Childhood Arrivals program while their lawsuits…
Newser

In NC, an Unprecedented Court Decision on Voting

January 10, 2018 |

Republican lawmakers in North Carolina have some unexpected work to do before this year’s midterms: A federal court just ripped up the state’s voting map and ordered the GOP-controlled General Assembly to draw a new one, reports the News & Observer of Raleigh. The three-judge panel ruled unanimously that Republicans…
Newser

Deputy ‘Just Made the Decision’ to Save Boy From Frozen Pond

December 27, 2017 |

With an 8-year-old boy under the ice of a frozen pond and time running out, “I just made the decision I was going to go get him,” says Sgt. Aaron Thompson. The Washington County, Utah officer was one of the first officers on the scene after the boy fell through…
Newser