The Weiss Rating Agency site crashed this morning...probably by the amount of traffic directed towards it! For those who don't know, weiss ratings released this morning their ratings on 74 cryptocurrencies. A lot of attention is directed towards it and I was really curious to know their ratings on STEEM.
Seems like Christmas came early this year! People don't even have to pay in order to know that STEEM is a buy opportunity.
I was able to find some information on their splash page:
http://finance.weissratings.com/crypto/
Here is an excerpt:
PALM BEACH GARDENS, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, releases today the nation’s first-ever grades on cryptocurrencies by a financial rating agency. Weiss gives Bitcoin a C+ (meaning “fair”) and Ethereum a B (“good”). None of the cryptocurrencies covered currently get a grade of A (“excellent”). In total Weiss currently covers 74 cryptocurrencies.
A grade of A or B can also be interpreted as the investment rating equivalent of “buy.” At the same time, investors should not be overly alarmed by a C rating. It is a passing grade, and for investors, implies the equivalent of “hold.” Grades of D” and E” are the equivalent of “sell.” However, investment decisions should not be made solely based on ratings. They are meant as a tool in the context of a broader risk management strategy.
What makes Weiss’ entry into cryptocurrency ratings significant is its history of independence and accuracy in other investment sectors, as noted by the U.S. Government Accountability Office (GAO), Barron’s, The Wall Street Journal, and The New York Times, among others.
“Despite extreme price volatility, cryptocurrencies have a bright future and the potential to deliver unusually large profits to investors,” said Weiss Ratings founder Martin D. Weiss, Ph.D. “However, the market is hectic and confusing for investors. They need the clarity that only robust, impartial ratings can provide.”
The Weiss Cryptocurrency Ratings evaluate price risk, reward potential, blockchain technology, adoption, security, and other factors. “Due to rapid changes in the data,” explains Weiss, “upgrades and downgrades are more frequent than in other sectors we cover.”
Below is a sampling of Weiss Cryptocurrency Ratings, selected randomly to illustrate a variety of strengths and weaknesses:
- Bitcoin (rated C+) gets excellent scores for security and widespread adoption. But it is encountering major network bottlenecks, causing delays and high transactions costs. Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.
- Ethereum (B), the second most widely adopted cryptocurrency, benefits from more readily upgradable technology and better speed, despite some bottlenecks.
- Novacoin (D) and SaluS (D) are weak in terms of both technological innovation and adoption.
- Steem (B-) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature.
Read more here: http://finance.weissratings.com/crypto/
The rest of the information is for sale but it's interesting that they mentioned STEEM as a "bonus" on their landing page.
CONCLUSION
We are not crazy! STEEM is definitely a buy!
Thanks for info - now I am getting an idea what might caused this massive spike on steem today. Good job.
Long Live Steem
Steem also got mentioned in Zerohedge.com
Yes! A lot of good news lately!
Long Live Steem my friend!
May we all drown on a sea of positive % signs :D
full ratings list here:
https://steemit.com/bitcoin/@altcoinmoonshot/weissratings-release-bitcoin-given-a-c-comment-on-biggest-surprise-below
I had no idea about the weiss rating site. I was totally dependednt on coinmarketcap haha!!
2018 is gonna be a crazy year for steemit, with price speculations of $100 per steem, I've even come across speculations expecting $1000 per steem. Crazy world!!
I think most people that have ever used Steem can tell you that. If we could convince coinbase to add Steem and exchanges to make Steem a base trading pair it would be in the thousands and I think arbitrage trading would help keep price differentials between exchanges at a minimum with free, quick, reliable, transfers.
So far as i saw around 5-6 coins have B- rating so steem is in the top of the world with Etherium :) hope more people will look into steem and grab opportunities . And need to look later for some A, so grab them :D
And koreans are crazy with upbit trading 200 millions per day! Hope china lift the ban and they will trade more than koreans : )
Oh, yes, it's very pleasant that the STEEM was included in the list of rating currencies according to the opinion of the Weiss Rating Agency. We see again what we are talking about on the STEEM, namely, that the STEEM is more perfect in many ways, it is commission-free transactions, better bandwidth and scalability, I most importantly have the same quality as the social network, which speaks of a broader spread among ordinary people. I'm sure if the STEEM has such recognition from such an agency, then the future of the STEEM will become more assured and it's time to buy! Thank you @cryptoctopus
It's always time to buy in this blockchain at this point of time.
The price is still too undervalued!
HODL
@cryptoctopus - Sir they understood the power of STEEM... A big news Sir... Now it's proven STEEM is better than BTC... Nice update Sir...
Steem (B-) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature.+W+
Yes I saw it "live "happening.. i was shocked to see it go that fast.. for me the first time to see it in such detail.. I hope this is a start for much more..
I have never cared for Weiss. (As you get what you pay for... and since Weiss doesn't charge the clients, they are getting money from elsewhere, and that influences things)
But, it is generally a good place to start.
I agree with no crypto being an A. How can anything in its infancy be an A rating? We haven't even gotten started in cryptos. Even the much loved block chain will have several additions to it that will make it FAR BETTER.
So, we will see how Weiss responds in the future.
I am sure that many cryptos will be as money, and so their ratings will be A. Will Weiss accurately rate them?
they'll make money from their subscribers now. That should keep their feet to the fire to provide good ratings for solid projects.
Its good news for me and every other steemian
Please check my post on you i have created for you and dont mind if u dis like it @cryptoctopus
It's a shame that we can't see the whole list (although I respect that Weiss wants to make some profit). Now that Stripe will no longer accept Bitcoin as a payment option, it would be cool to see how more payment-friendly alternatives (OmiseGo, Ether, Stellar, Bitcoin Cash Litecoin and Dash have been mentioned) would be rated. But anyways, STEEM is a pretty safe buy.
This is awesome news. Not that I really was too worried with the huge dip, but it's great to have validation that Steem has a bright future. I wonder where we'll be in even 3 months from now!
The good part is that we don't have to necessarely buy Steem...
I find the Weiss ratings a bit strange. They are noting current price points, which makes the document already outdated now. The basis on which the ratings are awarded are not completely clear to me.
Yet, they have done something right. Steem is recognized for its use case, the power of its blockchain, the zero-fee, low latency, speedy transactions, the scalability and security.
And at the end, any good feedback about Steem is good for me! Yes, STEEM is definitely a buy, but @cryptoctopus, I beg to differ:
Some of us are in fact bonkers crazy.
Can't say I am very impressed by the numbers they gave so far. According to their ratings EOS and Ethereum are on the same level... O well, at least they did a good job for the Steem hype ^.^
@cryptoctopus,
"We are not crazy! STEEM is definitely a buy!"
Absolutely correct! I don't know any other currency which is undervalued as STEEM do!
So, now the world is recognizing the power of this amazing blockchain and the power of this amazing cypto currency. This is a bi news. Of course STEEM is in BULL trend! Anytime, it will go to moon!
I wish to see it at TWO FIGURE numbers soon! Valuable update!
Cheers~
Hello my friend! What a pleasure reading your post as usual! I have been so busy recently that I could not find time in dropping some comments, I had my bistro opened which is taking most of my time!
But anyway, in some time, all should stabilize!
Concerning the ratings, I am so happy to see the note given to our most favorite crypto...steem!
With the recent high prices of SBd, I can say I am among the luckiest to have been able to buy some more Steem and power up!
We are really not crazy people!
Steem On!
Steem on my friend, long time no see
Yes @progressivechef we are really not crazy people. We see the potentials of steem and the value steemit adds to our society and we are driven by that fact in believing that steem holds great future for all steemians. We are steemians, we are not crazy
It is very interesting they mentioned Steem publicly like that. All publicity helps "get the word out".
I've been glad to see the price of Steem and SBD's stay at a higher level for as long as it has. I keep thinking it has to go down, and hopefully it won't go down to where it was before. But it keeps holding strong, maybe $3-$4 is the new bottom level pricing!
STEEM's volume picked up within TOP 20 coins ($200M+): CoinMarketCap added upbit.com's volume, STEEM in zerohedge news, Weiss-ratings picked STEEM as TOP 5 rated coin. STEEM is already up 25% while no real movement among the top cryptos.
More and more people are realizing the potential steemit has.
Hoping to see a good price increase in the coming months.
This is a good one to see more people and platform recognizing steem, like you said it it a good buy for investors and a great one for bloggers who are lucky to be here now.
Thank God i a, a steemian and I joined before the crowd comes in.
Called it!!
HUGE! Just like we have been saying Steem is such a great Crypto and Social Platform. Steem is up 40%+ on this news and its still very undervalued.
Wow - I would never have guessed the final scores. Thanks for sharing.
Steem is in bullish consolidation at the moment, but at the same time it is near completion of wave 2 and this is the perfect buy zone, as after this wave 3 shall begin and wave 3 should move higher than the wave 1, so in other words wave 3 should go beyond 56K and make new high high and as per the chart analysis, wave 3 should project to a level in between 80K and 90K satoshi. So as per the chart, 34K to 37K level should be an ideal buy zone for STEEM.
So the mid term target is 80k satoshi.
Thank you @cryptoctopus and Have a great day.
Giving B notes to Steem was a realit result. According to my personal opinion, the note that should be given for steem is definitely A ++. As mentioned in the article, social media features are very big and positive.
I am a big fan of Steem myself, but there are certainly a few problems with the platform that should be solved before it should get an A in my opinion.
Which issues are you most concerned about? I do agree that Steem is not perfect, but it would be cool to hear what you (and others who might see this comment) finds most problematic.
One of the concerns is that @steem and the other accounts that belong to the developers hold way too much Steem. This has been an issue with other coins as well, and could easily be putting off investors.
Another concern that I have is that the witnesses could be attacked. We have 30 witnesses plus a lot of backups, but I have read several posts about how it would be potentially pretty easy for an organized hacker group to attack all their servers, since each witness typically only has one server each.
These are of course not really big issues, but I would certainly want the have good solutions to these before I would give Steem an A :)
Until now, I have always thought that trust was the main concern with witnesses (and that the voting system solves this problem pretty well), but now that you mention it, hacking may actually pose a serious threat, depending on how often the servers are backed up. I don't fear that much information would get lost, but some downtime could definitely be possible if someone with the wrong motives and the right toolsmade a serious attempt.
Yeah, trust is of course a big concern too. As well as potential for someone very wealthy to buy huge amounts of Steem Power and vote for witnesses that follows their agenda (sounds like a conspiracy, but it's worth debating and figuring out in my opinion).
I honestly don't know what the ramifications of an attack towards the witnesses would be, but you are probably right that it would most likely be downtime for the blockchain and not loss of data.
Steemit is really catching up because it proves its potential and usefullness as a platform compared to other crypto out there. Thanks for the useful information @cryptoctopus!
They rated it B- but it looks like the only reason for that is the relatively low market cap, they do point that in other aspects it has considerable advantaged!
So i guess with that if they will release a new review a few months from now - we will see a B at least as the market cap is in the riggt way and grows steadily!
Thanks for the info!
OMG, now I see... What a huge jump!!!
Still more to come. Keep watching
I know, can't wait for more :))
My concern on the rating agency is how much power they have gotten in the regular financial markets. Although it is good to have an investment grade vs non investment grade segmentation in the crypto space, it will be hard to judge based on the possibility of biases that can exist. Thanks for the information!
Maybe the ratings become self-fulfilling (not that that necessarily is a bad thing).
“Despite extreme price volatility, cryptocurrencies have a bright future and the potential to deliver unusually large profits to investors,”
Very well said.
There is no better way to describe crypto.
I’ve said this before and I’ll say it again. Steem is one of the only cryptos with a proven use case, a working product AND hundreds of thousands of users! Steem WILL hit $100 a Steem, maybe even before 2019!
Whoa steem B- not bad, will i say christmas came early, or christmas never left 😂 but all thesame, it's a good time to be on the best platform ever
That's a great news for the steem blockchain. I think it's the good time to buy steem because I think investing in steam is just like making your future stable. Resteeming this post so that others it can reach to all steem lovers .
Yeaaaaa sure steem is the real deal right now. Did you also notice steem is mooning at the moment? Do you know what the reason might be?
I am greatful I bought Steem when I did coz it's really interesting seeing it make waves at the moment...
i am seriously loving this pump right now, i just hope it lasts...
Yes I saw it "live "happening.. i was shocked to see it go that fast.. for me the first time to see it in such detail.. I hope this is a start for much more..
I like your conclusion...
CONCLUSION
"We are not crazy! STEEM is definitely a buy!"
And that's so true.
it a good news though, but i believe that steem is still going higher
Yeah, it will probably go a whole lot higher during 2018! I would definitely not sell my Steem anytime soon.
"it has a relatively good balance of moderate power in almost all the key factors handled with a social networking feature." B-then I think it's ridiculous to say. Steem's social media direction is very successful. I do not see the worthy value, I think. hope will increase in the coming process.Thanks for information. @cryptoctopus
I am happy that we are such a good pue
Hoping to see a good price increase in the coming months.
Nice post continuation
This is definitely a very good news.
we look forward to a nice price increase with a pleasant feeling of hope
Thank you for your explanation of the launch of the rocket)
Great publicity for us!
@cryptoctopus
"Steem (B-) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature."It's looks steem currency got some positive feedback.
Cryptoctopus, what are you thoughts on @jerrybanfield's venture to create a steem/fiat gateway?
Wouldn't it be great for #steemecosystem if we leave bitcoindependency?
Cool
This is good news for steem and steem investor, i think this rating will create more awareness of steem and steemit in general. The effect of this will be a price hike of steem and new account registration.
your story is great
Nice post
Steem has shown all potentials to be a great coin in the future, i hope we all hodl and enjoy when it happens
Yeah, it's a very good coin. Free transactions, 3 second transaction time and a huge potential to handle millions of transactions daily makes it a lot better than Ethereum or Bitcoin.
Very true.