Ratings agencies soon to release crypto ratings.

[gentlemand]

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?

[1713460876]

1713460876

[btcone111]

Rating agencies are nothing but frauds / silly. just look at how they f up everything in 2008

[gentlemand]

Rating agencies are nothing but frauds / silly. just look at how they f up everything in 2008

Indeed they are, but they DID manage to fuck things up which means that they must have a certain amount of importance in the eyes of sections of the markets.

I'm wondering whether this market cares in the slightest what they think. I assume they went through most of them shaking their head in pure disgust.

[alyssa85]

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?

The people trading futures might. I doubt anyone else will pay attention (especially if the data points they are working off can be manipulated).

[gentlemand]

(especially if the data points they are working off can be manipulated).

I'm wondering where they're going to find data points for the coins that are nothing other than a white paper and an impressive barrage of outrageously spun PR.

[The Sceptical Chymist]

Oh my goodness.  You know, crypto has probably arrived in the mainstream when stuff like this happens.  I can't stand ratings agencies, as I think their importance is overblown and that they're heavily influenced by companies that they rate...but if they're starting to rate crypto, we're at the gates of the promised land.  Sort of.

I do question how they're supposed to rate cryptocurrencies.  The ratings make a lot of sense when we're talking about corporate debt, because that sort of thing can be analyzed.  But these are P2P currencies, and the markets are very thin on a lot of them.  Part of me thinks this will be a huge waste of time--but I'm sure banks probably want this sort of analysis.  And whales, and people with a lot of money to burn.  Very interesting.

I'm wondering where they're going to find data points for the coins that are nothing other than a white paper and an impressive barrage of outrageously spun PR.

Exactly.

[Biodom]

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?

Don't expect anything from this. lemme guess, ripple triple A, everydody else-C or D
They probably don't understand that this is NOT CREDIT.
bwahaha

what stooges!

[magneto]

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?

Ratings are completely biased, everyone should have their own view. Plus, it wouldn't be hard for someone to do insider trading based on the new ratings, for a company to 'buy' better ratings by paying the rating company a share of their profits, etc.

This may cause a stir, i don't know. It may even make price go up temporarily. But long term, does it really matter?

Everyone should do their own due diligence before investing, As i said when they first release the ratings there may be hype, people may be like wow, crypto is so mainstream it's got mainstream rating companies giving it scores. But at the end of the day, it really doesn't matter.

[Bloomie]

What exactly are they rating this market against? It makes no sense to me. I bet this will just cause more FUD. Oh well. We'll keep marching forward and HODLing on.

[pooya87]

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.

[HabBear]

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

It could, it likely depends on the credibility of the rating agency (anyone ever heard of Weiss?) and the transparency they provide of their rating process. "Thousands of data points" sounds completely unrealistic...this will hurt credibility.

Rating agencies are nothing but frauds / silly. just look at how they f up everything in 2008

I couldn't disagree more. You mention 2008, so you're talking about the agencies that rated debt investments that were leveraged with mortgage debt as collateral? That's a very unique story, circumstance. I don't think you'd find another scenario like it in the history of rating agencies, i'll wait while you check.

Rating agencies offer an educated opinion. Shitty opinions result in the agencies going under. It's the best of a free, open market. They don't sell any tangible product so it's easy for the public to abandon their opinion if it's off. They have every incentive to get it right, the alternative is going out of business!

[maxj57634]

Will this deeply move the market and yourself?

I dont think that crypto ratings can have an effect in the market, it just might spread FUD and not really be independent at all. As my self i dont trust any rating system and i see them as a lie.

Will anyone give a shit?

Well this will be good for new investor to see what coins will they put their money, but for other investors who have join crypto they wont give a damn about this independent ratings.

[timerland]

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?

Some people will definitely look at the ratings agency's crypto ratings as a guide to investing. What are the guidelines, though? What is 1 and what is a 5? Just because something has good technology and good team, doesn't mean that it'll blow up.

But if a ratings agency is willing to rate cryptocurrencies, it means that they are acknowledging the overall legitimacy of cryptocurrencies as an investment. It's not just a ponzi scheme or whatever. This may convince some people to invest in cryptos.

Whenever the ratings actually come out it should result in a pump. The question is when, not what.

[jseverson]

Regressive testing to verify past data that the company uses to confirm predictions is still ongoing, but results have been accurate thus far, Weiss told Bitcoin Magazine.

Why am I doubting this somehow? Lol. If it's true, though, then props to them. It would help their case massively if they release proof though.

Either way, I'm not very optimistic about these services and I believe it's only going to be a matter of time before they are paid off by pump and dump schemers, but I don't want to dismiss them just yet. If they will be publishing the data that supports their ratings and such, they might actually be useful. I'll be skeptic otherwise.

[giveen]

Again it doesn't matter it same like that stupid palm beach it creates unnecessary hype but finally nothing really happens.
Regarding this one i have never heard about it and upon asking my friends many were not aware about this, even if they rate there might be a small pump but it won't stay for 24 hours also, anyone planning to buy please avoid never trade based on other's advices.

[1Referee]

I don't believe it will. All these non crypto agancies and experts just want to ride this 'hype' for their own benefit. I like how this market just trolls the future markets and all the idiots having settled their +$18,000 contracts last year. Seriously, why should we look at what these idiots think about the crypto market? Don't forget that they are acting all nice right now, but these were the skeptics of the past that didn't believe this market would be capable of anything. Also, we can only speculate about what might and might not have an impact on this market - let's just wait to see how the market responds when we're there.

[gentlemand]

https://www.cnbc.com/video/2018/01/19/weiss-ratings-starts-grading-cryptocurrencies.html

More from the man himself. There are going to be four metrics. Potential upside, downside, technology and fundamentals. He rates the latter as the most important which involves adoption and security.

[DooMAD]

I'm wondering where they're going to find data points for the coins that are nothing other than a white paper and an impressive barrage of outrageously spun PR.

One would assume any missing data points would simply result in a low, or even zero, score.  Can't prove it's good?  Points deducted. 

Don't expect anything from this. lemme guess, ripple triple A, everydody else-C or D
They probably don't understand that this is NOT CREDIT.
bwahaha

what stooges!

When I read the quote about how it might cause controversy, I was initially quite optimistic:

to help them [investors] cut through the hype and identify the few truly solid cryptocurrencies. (...) But they’re bound to create controversy, including some grades that may come as a surprise to some people,” Mr. Weiss added

Straight away, I thought that all the cynics out there were going to be left shocked and dumbfounded when it turns out Bitcoin actually gets a decent score because it really is solid and does have the fundamentals that most other altcoins lack.  But now that you mention it... yeah, the doubts are starting to creep in.  This is a relic of the traditional finance sector, after all, so why not take a cheap shot at the truly distributed, permissionless coins and lavish praise on the private, walled-gardens?  It's entirely plausible they could blow their metaphorical load over the centralised crapcoins like Ripple and Stellar and rate everything else poorly.  I guess we'll find out Wednesday.  

We might yet be pleasantly surprised.  I mean, it sounds like they're taking it seriously, at least?  Maybe they're sensing a change in the winds and want to get this right when it turns out crypto can. in fact, be more stable than the ticking time-bomb of debt-based national currencies.  Fingers crossed, I guess.

[gentlemand]

This is a relic of the traditional finance sector, after all, so why not take a cheap shot at the truly distributed, permissionless coins and lavish praise on the private, walled-gardens? It's entirely plausible they could blow their metaphorical load over the centralised crapcoins like Ripple and Stellar and rate everything else poorly.  I guess we'll find out Wednesday.  

I would hope that they were bright enough to figure out that the properly decentralised coins have their value primarily because of that decentralisation. Similarly for better or worse certain banks and institutions will actively want something centralised.

I guess ultimately it's not intended for people already down the rabbit hole, but I do wonder if it'll actually help the clueless.

[NorrisK]

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.

[DustyRah]

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.

[gentlemand]

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.

[The_Dark_Knight]

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]

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.

[DooMAD]

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.

[phr0stbyt3]

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

[juicyjanet88]

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'

[goaldigger]

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.

[Carlsen]

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.

[Denker]

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.

[fulmetal08larz]

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.

[aardvark15]

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.

[DooMAD]

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.

[Toxic2040]

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..

[penig]

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  

[gentlemand]

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  

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.

[ktabb]

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.

[The_Dark_Knight]

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.

[gentlemand]

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.

[djpitagora]

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