Even the Weiss rating bullshit from today kind of demonstrates that either smart people do not understand bitcoin or they are purposefully engaging in misleading behavior...
How the fuck do they give Ethereum a B and bitcoin a C+ and Dogecoin a C... Makes little sense, except that they are making shit up, and in the end, the fact that some of us can see through the bullshit, we are going to continue to invest in bitcoin and we will profit from such ongoing better than others insight. In other words, some folks are going to get mislead by the bullshit that ended up coming out of the supposedly objective and professional Weiss rating system.
Calling this little piss ant ratings corporation smart people is beneath you JJG. Market makers and big money sent way more qualified(and discrete) individuals out to check out bitcoin long ago. Any claim by these people is suspect imo. I mean for crying out loud these are the same pond scum that caused the recession. While not exact its of the same tainted lineage.
https://en.wikipedia.org/wiki/Credit_rating_agencies_and_the_subprime_crisisThe fact of the matter that bitcoin is getting a grade at all..let alone a C+ is absolutely amazing as far as I am concerned. I mean..think about it..this is the coin associated with mtGox..SR...numerous hacks ect ect.
What do you know about this "piss ant ratings corporation"? Nothing, I would judge from your comments. Say what you want, but Weiss and his father were pretty much the only honest ratings company to pick apart bank financials for years and years. To top it off, you link to a wikipedia posting that has nothing to do with Weiss Ratings and instead focuses on the big-boy, for profit and ongoing business relationships, rating agencies, i.e., S&P, Fitch, Moody's.
If you want take shots at Weiss, quote from their analysis and point out why you think they are dead wrong. Weiss ratings did not 'cause the recession' and they are definitely not part of the "taninted lineage" of ratings agencies that you refer to.
I may have called these Weiss raters "experts" but surely I could have placed quotes around such a designation because I was only referring to them as "experts" in the traditional financial markets sense, and not really conceding that they are true experts, especially in terms of what they would consider to be valuable in a blockchain, and surely, they would not place much value upon decentralization, and that is truely what brings value to bitcoin above and beyond traditional systems and also beyond other cryptos who only feign decentralization rather than actually accomplishing such in any close proximity to bitcoin.
I think we are so used to see disclaimers suchs as "past performance is no guarantee of future performance" type statements we don't hold these people to high standards.
These Weiss raters are indirectly making
predictions about what is going to happen, and these predictions are clearly testable.
But I don't see any evidence that any previous predictions were correct. (probably because they only just made up their system)
Until they can
prove something like
"If you invested in our top X crypto currencies in the last year you would have made X% profit", then it's just
meaningless noise.
Any of us could put together some rules, take a few photos of old men wearing suits on a professional website and then make some recommendations, but we shouldnt give it any weight unless it has been shown provably correct.
But I'm guessing from their currenct set of B rated cryptos, its highly likely that in a years time we aren't going to be giving them much respect.
You know..I was drafting up a reply...but as usual...JJG is so much more eloquent than I. The evidence is right there in the 2nd sentence I quoted.
