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Special counsel Robert Mueller’s indictment against 13 Russian individuals and three Russian entities marks a major turning point in his investigation into Russian interference in the 2016 election.
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Cape Town’s water situation is dire , but although it may soon be the first big city in the world to run out of H2O, it’s not the only one nearing such a precarious position. The BBC takes a look at other major urban areas thirsting for liquid sustenance, citing a…
The New York Times takes an interactive, map-heavy look at the just how many countries have the ability to hit any spot on the planet with a missile launched from land or a submarine—and the countries actively working to expand their capabilities. For now, there are just five who…
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.
The only surviving member of the ISIS cell that attacked Paris in Nov. 2015 is appearing in public for the first time since his arrest nearly two years ago. Salah Abdeslam goes on trial in his hometown of Brussels on charges of attempted murder for a police shootout from which…
We’ve all heard that defunding your coffee habit or laying off the avocado toast can help save money, but there are less obvious things you can remove from your budget, too.
Reach your money goals faster by paying close attention to these things in 2018:
Think twice before downloading…
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Singapore-based MegaX introduces first-of-its-kind global millennial online mall having raised USD2.5M from a token sale concluded on 16 November 2017.
MegaX, a partnership between iFashion Group and MC Payment, has launched an online mall targeted at millennials. Having been in the retail industry since 2009, the mall has served over 1 million customers worldwide. The mall will provide visitors with access to over 1,500 global brands and 80,000 products, featuring items such as the Google Pixel 2, the Oculus Rift Touch VR System, iPhone X and even adrenaline-pumping toys like the hydro jet that allows you to hover above the sea. The online mall will also include exclusive concierge service which aims to provide shoppers looking for a getaway with unique holiday experiences. Expect packages such as exotic stays in Irish castles, silver mines, airplane fuselages and even ice hotels.
The ability to transact using MGX coins and other cryptocurrencies will provide crypto-savvy millennials with the opportunity to experience a new retail phenomenon in the future of cashless society. MegaX envisions and has been working towards a future where ultimately MGX, the native currency, will be the cryptocurrency of choice for millennials to earn, spend and transact. A fresh and emerging retail network, MegaX will pave the way for emerging retailers to engage with millenials.
Bitcoin Cash (BCH) is an example of an evolved cryptocurrency that is ready for real-world use and is able to cater to retailers’ needs such as having faster transactions and lower fees. “By only accepting MGX and BCH instead of fiat for payments, we are determined to bring about real-world adoption of cryptocurrencies,’ said Jeremy Khoo, Group CEO, iFashion Group. “Despite a market cap of 728 billion USD in cryptocurrencies right now, most retailers do not accept them as a form of payment. Retailers looking to resonate with the new generation of consumers should be fearlessly agile and open to adopting new payment forms. Cryptocurrencies has seen unprecedented growth in 2017 and we believe that growth will continue.”
Megaxstore.com is piloting a rollout by accepting Bitcoin Cash. MegaX aims to help new-age retailers and cryptocurrencies reach out to a large addressable market, the millennials. A 2016 Accenture report states that within Asia alone, millennials are expected to collectively constitute USD 6 trillion in disposable income by 2020. According to a CBRE survey, 30% of this income is spent on leisure activities such as shopping and eating out.
MGX as a cryptocurrency revolves around the millennial movement and aims to create a retail revolution by better engaging with these segment of customers and being their currency of choice. The retail companies behind MegaX have served more than 10 million customers and will use an omni-channel approach in spurring real world adoption of MGX. Token holders can also expect to pay with MGX at multiple native offline events such as the next installation of Artbox Singapore – a creative market concept popularised in Thailand, which attracted over 600,000 attendees and totaled 30 million USD in transaction volume during its inaugural Singapore outing over 2 weekends in April 2017.
Visit http://megaxstore.com/ http://megax.io for more information or the following contact points
About iFashion Group
iFashion is a leading venture conglomerate company focused on investing and acquiring fashion and lifestyle e-commerce ventures based in Southeast Asia. To create synergy among businesses, the Group aggregates highly complementary businesses via mergers and acquisitions in its sectors of interest. The Group acquired, most notably, local O2O brands Dressabelle and Megafash, in the lead up to an IPO.
About MC Payment
Founded in Singapore in 2005, MC Payment is a leading innovative fintech company that has a strong regional presence with end-to-end value-chain of commerce transactions, ranging from suppliers and merchants to consumer payments. Its technology entails both retail to online payments, mobile to Distributed Ledger Technology. MC Payment has become the bridge that facilitates commerce transactions across the region, with payment acceptance ranging from credit and debit, to locally preferred alternative payments, while serving regional merchants and financial institutions alike.
Megaxstore is a multi-label online mall dedicated to inspire and motivate customers with creative goods found around the world. Megaxstore now operates over 7 stores across Asia, offering experiential retail spaces and a well-curated mix of tech products, hotel stays, homeware, food items, stationery, novelty goods, travel essentials, apparel for men, women and children; as well as accessories.
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
The post PR: Retail Conglomerate Launches Online Mall Accepting Only MegaX and Bitcoin Cash appeared first on Bitcoin News.
President Donald Trump is about to come face-to-face with his next quarterly brush with Armageddon. Should he, or shouldn’t he, scrap the Iran nuclear accord?
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As the Winter Olympics kick off next month, all eyes will be on the Gangneung Ice Arena in Pyeongchang — especially if figure skaters Ryom Tae Ok and Kim Ju Sik take to the ice.
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