Ratings agencies soon to release crypto ratings.

djpitagora

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Quote from: pooya87 on January 22, 2018, 12:10:51 AM

Quote from: gentlemand on January 21, 2018, 06:43:38 PM

So next week Weiss, an independent ratings agency, releases ratings on multiple coins. They're saying each rating is based on thousands of data points. As they're rating vapourware like Cardano and Tron I have no idea how this is going to work.

maybe it is just me but what you just explained here is the classic definition of a pump and dump group!

they rate cryptocurrencies my ass! they buy this shit up and then say they "analyzed" thousands of data points to make their "rating" look legit and then advertise the shit out of the coin they have bought before so they can make a lot of money.
anybody who has ever traded cryptos, specially shitcoins knows that "analysis" means nothing when it comes to them.

... and unlike traditional assets nobody will be able to prove they bough the currencies... nice

gentlemand

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Welt Am Draht

https://www.reddit.com/r/BitcoinMarkets/comments/7u762z/daily_discussion_wednesday_january_31_2018/dtjnh7s/

"Your timing for getting our alerts couldn't be better.

Last week, we caused global outrage with our C+ rating for Bitcoin. We were cursed, ridiculed and laughed at. One group even tried to mount a cyberattack against our Weiss Ratings website.

But yesterday, the price of Bitcoin plunged from $10,908 to $9,723. Nearly 11% in just 13 hours.

Crashes of 10% or more in a single day are not uncommon. They happen pretty frequently, actually. [...] That's why most bitcoin lovers are long-term buy-and-hodlers. [...] "Bah! We don't care," say Bitcoin veterans."

I'm not totally sure what they're trying to say here, other than that they're opportunist penises.

The_Dark_Knight

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Quote from: Carlsen on January 25, 2018, 11:19:04 AM

I think this is a good developement.
I suppose that a rating agencie is way more capable of gathering reliable data than me, for example.
One of the reasons wha the crypto market is so volatile is because we have no data.
If that gap could be filled, we might get away from volatility towards steady growth.

Lack of data is not what makes this market volatile, everything that is this new is volatile, I'm sure that if we got access to the data of some of first automobile companies we will see something similar with most of those companies disappearing and a few surviving, any market that is new suffers from this, and when you add the hard cap of bitcoin and its relatively small size compared to the world economy and you have everything you need for a very volatile asset.

ktabb

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Quote from: gentlemand on January 21, 2018, 06:43:38 PM

https://bitcoinmagazine.com/articles/two-new-services-could-help-investors-rate-cryptocurrencies/

So next week Weiss, an independent ratings agency, releases ratings on multiple coins. They're saying each rating is based on thousands of data points. As they're rating vapourware like Cardano and Tron I have no idea how this is going to work.

Will this deeply move the market and yourself? Will anyone give a shit?

I doubt this will affect the market. We have already seen many very prominent figures in the financial world express their opinions on bitcoin and it seems to generally have a negligible effect on the price.

Also the idea of "rating" coins seems like a fool's errand. I don't know how they could possibly do this objectively.

gentlemand

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Quote from: penig on January 25, 2018, 03:33:57 PM

Not familiar with this agency, the big boys are normal evaluating a business (or nation) for their credit rating. No credit in cryptoland last i checked. Judging by the comments they must just be picking some arbitrary criteria and probably hoping some clients pick it up, desperate for some coverage on this area so they can justify getting involved. Expect WeissCoin ICO, tying ratings to a blockchain before end of year Roll Eyes

https://www.reddit.com/r/Bitcoin/comments/7sn7e4/weiss_announces_first_bitcoin_and_cryptocurrency/dt640xt/

Weiss have been prosecuted for fraudulent recommendations in the past and insider pump and dumps. They also recommended selling Tesla at 12 bucks.

Considering their B grades I think it's more than likely that they took a nice payday as a couple of those highest ranked coins share the same creators.

Anyway I think it's been and gone now with little discernible effect. They could've done something interesting but the universal derision their results were greeted with shows they might have to go back to the drawing board.

penig

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Not familiar with this agency, the big boys are normal evaluating a business (or nation) for their credit rating. No credit in cryptoland last i checked. Judging by the comments they must just be picking some arbitrary criteria and probably hoping some clients pick it up, desperate for some coverage on this area so they can justify getting involved. Expect WeissCoin ICO, tying ratings to a blockchain before end of year Roll Eyes

Toxic2040

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Quote from: DooMAD on January 25, 2018, 02:22:02 PM

Quote from: aardvark15 on January 25, 2018, 02:04:58 PM

If it gets added to CoinMarketCap, then it would most likely make an impact on prices.

Seems unlikely when Weiss would ideally like $468 per annum from you to gaze upon their "Independent. Unbiased. Accurate. Trusted" series of seemingly random letters as they're updated periodically. Also, that's the discounted price. "The regular cost of a one-year subscription to Weiss Cryptocurrency Ratings is $936". Somehow I doubt you're going to get it for free on other websites unless they're stealing the information. I think we're safe on that front.

Plus, CoinMarketCap appear to be far more sensible and knowledgeable than Weiss, so perhaps they should do their own ratings. They couldn't possibly do any worse.

Nailed it..

DooMAD

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Leave no FUD unchallenged

Quote from: aardvark15 on January 25, 2018, 02:04:58 PM

If it gets added to CoinMarketCap, then it would most likely make an impact on prices.

Seems unlikely when Weiss would ideally like $468 per annum from you to gaze upon their "Independent. Unbiased. Accurate. Trusted" series of seemingly random letters as they're updated periodically. Also, that's the discounted price. "The regular cost of a one-year subscription to Weiss Cryptocurrency Ratings is $936". Somehow I doubt you're going to get it for free on other websites unless they're stealing the information. I think we're safe on that front.

Plus, CoinMarketCap appear to be far more sensible and knowledgeable than Weiss, so perhaps they should do their own ratings. They couldn't possibly do any worse.

aardvark15

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Quote from: gentlemand on January 21, 2018, 06:43:38 PM

https://bitcoinmagazine.com/articles/two-new-services-could-help-investors-rate-cryptocurrencies/

So next week Weiss, an independent ratings agency, releases ratings on multiple coins. They're saying each rating is based on thousands of data points. As they're rating vapourware like Cardano and Tron I have no idea how this is going to work.

Will this deeply move the market and yourself? Will anyone give a shit?

I think this could affect cryptocurrency prices even if the ratings are not accurate. We’ll just have to see how thorough a job they do and what criteria they use to make a rating. Then the question is where is this information published. If it gets added to CoinMarketCap, then it would most likely make an impact on prices.

fulmetal08larz

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This is good for bitcoin and other crypto to become more popular and more people will get curious and interested with crypto. Any rating does not matter as long as it is publicized, positive or negative, it is still a publicity for bitcoin, meaning, free advertisement.

Denker

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Quote from: gentlemand on January 21, 2018, 06:43:38 PM

https://bitcoinmagazine.com/articles/two-new-services-could-help-investors-rate-cryptocurrencies/

So next week Weiss, an independent ratings agency, releases ratings on multiple coins. They're saying each rating is based on thousands of data points. As they're rating vapourware like Cardano and Tron I have no idea how this is going to work.

Will this deeply move the market and yourself? Will anyone give a shit?

These rating are total bs!
I've seen their first publishment.
Can not take that cryp serious to be honest.
Cardano got a B+, without a functioning Blockchain , while Bitcoin just got a C or a C-.
Come on man! Just another tool they try to manipulate the market and people's opinion with.

Carlsen

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I think this is a good developement.
I suppose that a rating agencie is way more capable of gathering reliable data than me, for example.
One of the reasons wha the crypto market is so volatile is because we have no data.
If that gap could be filled, we might get away from volatility towards steady growth.

goaldigger

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Merit: 357

I dont see something wrong about this ratings. Everyone should give their opinion about the coins and its up to you if you will believe on that opinion or not. It is just collecting some data and analyzation. You can also use it as your reference and give your own thoughts. If i would have given a complete data and a good explanation and speculation, i somehow believe it and can affect my trading decision.

juicyjanet88

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MFG Token Sale - 1st of January

Quote from: gentlemand on January 21, 2018, 06:43:38 PM

https://bitcoinmagazine.com/articles/two-new-services-could-help-investors-rate-cryptocurrencies/

So next week Weiss, an independent ratings agency, releases ratings on multiple coins. They're saying each rating is based on thousands of data points. As they're rating vapourware like Cardano and Tron I have no idea how this is going to work.

Will this deeply move the market and yourself? Will anyone give a shit?

Longer term it can really influence the market as many have grown to trust such ratings, right now though I wouldn't pay them much attention, these ratings agencies are coming in out of the blue and I wouldn't trust their opinion over many in this forum with no where near the same level of experience in terms of giving 'ratings'

phr0stbyt3

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I was loved agencies like these im always able to get a sort of leak before the actual report is out which generates a decent amount of profit. Regarding their report it isnt a big deal they only copy paste things which are written on their website and nothing much maybe if we can get a report which would actually make a difference would be better

DooMAD

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Leave no FUD unchallenged

Kind of anticlimactic, really. I wish it was as controversial as they claimed it would be, because at least that would be mildly entertaining. This is just... meh. Assuming the copy I found online is genuine, it doesn't feel like there's anything particularly insightful about any of their ratings. Plus they just gave like 90% of the coins a 'C' as though they were completely on the fence about it all. And how did nothing get an 'E' rating? Are they honestly saying none of the coins they looked at are crap? Seems a little hard to believe. All in all, completely bland and devoid of substance.

Maybe since they're not as big as Moody's or Standard & Poor's, perhaps they needed a quick cash injection and thought jumping on the crypto train was the best way to go about it.

gentlemand

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Welt Am Draht

http://archive.is/F5fo8

So some preliminary teasers there. Er, Novacoin is one grade below, um, bitcoin. Steemit is, erm, 'better' than BTC.

If you want more fun pay them a few hundred dollars.

I'll take a rain check myself.

The_Dark_Knight

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Quote from: NorrisK on January 22, 2018, 02:47:24 PM

This is going to cause some wild pump and dumps when people panic buy or sell based on these ratings.

Will be interesting to see what will happen though.

This seems about right, while in theory we should not care about such ratings since we know they are going to be manipulated in order to benefit some investors by providing them this information beforehand and do some insider trading, the truth is that this is going to become another source of FUD and also a source to try to hype coins and if the agencies get their ratings wrong, as we know they can, then those that follow those agencies will lose a fortune.

gentlemand

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Quote from: DustyRah on January 22, 2018, 03:58:05 PM

Are cryptos other than BTC in the futures market yet? This whole futures market thing will take a huge dump on cryptos in general with the ability to SHORT they bring along.

Nope. Which is odd because at certain points ETH has had higher volume than BTC. I assume they'll get around to it eventually. I'm still waiting to see if this introduces a two speed crypto market where people actively avoid coins with futures.

DustyRah

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Are cryptos other than BTC in the futures market yet? This whole futures market thing will take a huge dump on cryptos in general with the ability to SHORT they bring along.

Topic: Ratings agencies soon to release crypto ratings. (Read 340 times)