Decision Archives -
One of China’s top social networking sites announced Monday that it will no longer be censoring content related to gay issues after the plan triggered a loud public outcry. Weibo.com was flooded over the weekend with the hashtags “#I’mGay” and “#I’mGayNotaPervert” after the Twitter-like platform said that cartoons and…
Monday is the first official day on the job for John Bolton, President Trump’s “hawkish” new national security adviser. Bolton takes over for HR McMaster just as the Trump administration is facing one of its biggest foreign policy decisions yet—how to respond to an apparent chemical attack on civilians…
Serial subject Adnan Syed moved a step closer to a new trial Thursday when Maryland’s Court of Special Appeals upheld a 2016 decision to overturn his murder conviction from 2000 and grant him a retrial. Prosecutors, who objected when a lower court vacated the conviction, haven’t said whether they’ll appeal…
Boosting Democrats’ chances of retaking control of Congress in this fall’s midterm elections, the US Supreme Court and a federal panel on Monday rejected GOP challenges to a newly redrawn congressional map imposed on Pennsylvania by the state’s high court. The courts dismissed requests to throw out or halt use…
Police in Miami say they have recovered all six victims from Thursday’s collapse of a pedestrian bridge after pulling the final two victims from beneath the rubble late Saturday night.
Two days after President Donald Trump blocked Broadcom in its hostile takeover bid of U.S. chipmaker Qualcomm, the Singapore company is officially withdrawing its $ 117 billion bid.
Broadcom Ltd. said Wednesday that it was disappointed as it withdrew its proposed candidates for the board at Qualcomm…
A court official has made a decision on the body of Charles Manson—almost four months after the 83-year-old cult leader completed his life sentence and was put on ice at a California morgue. Kern County Superior Court Commissioner Alisa Knight ruled Monday that grandson Jason Freeman can take Manson’s…
Shaquille O’Neal and his family were so excited for Shareef to commit to UCLA last night — they made a victory family dance video!!! We told you first … Shareeef was leaning toward signing with the Bruins after decommitting from the University…
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…
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.
Weiss 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?
“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.
The post Weiss Ratings Defends its Decision to Give Bitcoin Only a C+ Grade appeared first on Bitcoin News.