[2019-03-27] Weiss Ratings: Bitcoin Best Positioned to Become a Popular Store o

[Jgilpulg]

Weiss proposes that “ultimately, only cryptocurrencies boasting the best combination of adoption and technology will succeed.” And it rates Bitcoin, EOS, and XRP with the highest letter grade: “A” rate (excellent).

https://bitcoinist.com/weiss-ratings-bitcoin-best-positioned-to-become-popular-store-of-value/

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[Carlton Banks]

These Weiss people have precisely zero credibility, and this latest assessment hasn't improved their reputation. Every single other cryptocurrency follow the same trading pattern, i.e. they all follow the percentage change in the Bitcoin price. There's no reason not to include every top 50 or top 20 cryptocurrency in the same category in terms of value storage, and all for the same reason: they increase in value against the fiat currencies they trade against, they do not maintain value by any possible interpretation of that description.

Grouping those 3 together using such a qualifying category only demonstrates that this organisation have no objective assessment methodology, and we ought to wonder how and why this conclusion is being promoted in the first place. Or alternatively, ignore everything they say (as well as those promoting these "findings")

[DooMAD]

They're literally making it up as they go along.  If memory serves, they gave Bitcoin a "C" or possibly even "C-" not too long ago.  How has the adoption and technology suddenly changed to an "A" grade in such a short space of time?  They're constantly changing their criteria and there's no consistency to any of their so-called ratings.

It's just another company seeking to leech off Bitcoin’s name to give them a bit of exposure and media attention.  Ignore them.  They don't know shit.

[Betwrong]

Hm, XRP? Just recently I heard something about it from a person I'm inclined to take as an expert in the field.

"You'll know I have reached peak relaxation [meaning "totally drunk"] when I suggest that you should buy XRP."(c) Andreas Antonopoulos

Source: https://www.youtube.com/watch?v=Q6euy5W1js4

You'll hear it within the first 3 minutes, but I suggest watching the video till the end.

[vit05]

Why those rating gives so little importance to the decentralized aspect of those products? I think EOS and XRP are great products if you do not care about decentralized platform. And if you do not care about this, why will you use a crypto currency?

[Harlot]

Just by reading the news its like Weiss only made their report based on what they see in the internet. The way I see it is China's CCID had way more credible looking report which isn't even believable for me. If I were them I'll only stick up on what I would usually do which ranks up stocks and mutual funds to buy and sell, they just need to admit that they aren't knowledgeable enough to even touch the crypto market and stay away from it until they have crypto professionals of their own.

[o_e_l_e_o]

EOS gets the highest rating, due to its "innovative governance features". Don't make me laugh. What's innovative? Having the 21 Block Producers have complete control over the blockchain, including the power to reverse transaction, freeze wallets, and confiscate coins? Or maybe that they print thousands of EOS out of thin air every day to award these Block Producers around $10,000 per day each for the privilege of having complete control over your coins? Not exactly innovative, more like "same shit the banks having been pulling for decades".

EOS is a scam, and any "rating" system which can't see that is worse than useless.

[Carlton Banks]

EOS gets the highest rating, due to its "innovative governance features". Don't make me laugh. What's innovative? Having the 21 Block Producers have complete control over the blockchain, including the power to reverse transaction, freeze wallets, and confiscate coins? Or maybe that they print thousands of EOS out of thin air every day to award these Block Producers around $10,000 per day each for the privilege of having complete control over your coins? Not exactly innovative, more like "same shit the banks having been pulling for decades".

EOS is a scam, and any "rating" system which can't see that is worse than useless.

Should have remembered that (so many cryptocurrencies are created as scams, it's hard to retain it all)

These Weiss characters are sure to be associated with EOS block producers somehow, there's no other reason for them to (essentially) recommend it when EOS is such an obvious scam

[o_e_l_e_o]

These Weiss characters are sure to be associated with EOS block producers somehow

It wouldn't surprise me in the least if there were some backhanded payments or similar going on in exchange for good ratings, or at the very least the writers are holding big EOS and XRP bags.

Unfortunately it seems this kind of thing is becoming increasingly common, and also appearing from companies who otherwise seem "reputable", or at least well known in the crypto world. Coinbase violating their own Digital Asset Framework to list a bunch of trash coins which just so happened to be held in large quantities by their investors and shareholders, for example.

[NeuroticFish]

These Weiss characters are sure to be associated with EOS block producers somehow

It wouldn't surprise me in the least if there were some backhanded payments or similar going on in exchange for good ratings, or at the very least the writers are holding big EOS and XRP bags.

I just started to write the same. People started telling the EOS is obvious scam and should not be on a "popular store of value" list. But XRP is no better, and somehow people seem to be more "kind" with them 
It's clear that it's a 0-value rating and most probably a rating somebody has paid for. I'm almost surprised that Bitcoin is there 

[1Referee]

Hm, XRP? Just recently I heard something about it from a person I'm inclined to take as an expert in the field.

"You'll know I have reached peak relaxation [meaning "totally drunk"] when I suggest that you should buy XRP."(c) Andreas Antonopoulos

Source: https://www.youtube.com/watch?v=Q6euy5W1js4

You'll hear it within the first 3 minutes, but I suggest watching the video till the end.

The only thing I have respect for related to XRP is Ripple's CEO Brad Garlinghouse. He 'sold' his centralized database as a blockchain and made tens of thousands of investors believe it has a serious shot at competing with Swift, and that banks will use xRapid, which they will not.

XRP has a shelf life, just like everything else that's centralized. It's only a matter of time before banks fork the crap out of it and do it all themselves. Seriously, why pay Ripple to do something you can do yourself for free? It's just a matter of logical thinking.

In the meantime, people keep dreaming of the xRapid switch flip........ 

[buwaytress]

EOS gets the highest rating, due to its "innovative governance features". Don't make me laugh. What's innovative? Having the 21 Block Producers have complete control over the blockchain, including the power to reverse transaction, freeze wallets, and confiscate coins? Or maybe that they print thousands of EOS out of thin air every day to award these Block Producers around $10,000 per day each for the privilege of having complete control over your coins? Not exactly innovative, more like "same shit the banks having been pulling for decades".

EOS is a scam, and any "rating" system which can't see that is worse than useless.

Should have remembered that (so many cryptocurrencies are created as scams, it's hard to retain it all)

These Weiss characters are sure to be associated with EOS block producers somehow, there's no other reason for them to (essentially) recommend it when EOS is such an obvious scam

The report also comes 2 days after a China state-backed China Electronic Info Industry Dept ratings system that puts EOS as number 1 on its "Global Public Blockchain Technology Assessment Index". Yes it's a mouthful, I know.

And Bitcoin, ranks a really low 15th place on that index, losing out to EOS in "basic tech" and "applicability" ratings.

So yeah, definitely a lot of vested interests in EOS. Surprised took them so long to push their agendas this way.

[BitHodler]

EOS liquidated over a billion dollars worth of ETH that they raised with their ICO. In other words, they have quite some money to blow on whoever wants to accept it in return for kind reviews and rankings.

I don't mind people trying to make money speculating with EOS, because it's a pump happy coin, but what I can't stand is how people praise its governance model and consider it to be better than Ethereum.

Ethereum stimulates decentralized internet, EOS gives us the exact same rubbish banks and whatnot have given us in the last couple of decades. It's not an improvement but a straight cash grab.

[gentlemand]

I didn't realise the people running this were still alive.

What the fuck is it with EOS? The Chinese love it dearly too. As far as I can tell it's a piece of shit database that's broken and getting more broken by the day. I really thought cryptoland would be much further ahead in terms of the alternatives it's thrown up.

[joniboini]

What the fuck is it with EOS? The Chinese love it dearly too. As far as I can tell it's a piece of shit database that's broken and getting more broken by the day. I really thought cryptoland would be much further ahead in terms of the alternatives it's thrown up.

They have great marketing and die hard supporters who only look for profits, so as long as they're profitable, they'll continue to exist.
No doubt EOS is a centralised database and not a DLT.

Anyway Weiss Ratings is definitely a joke. EOS and XRP alongside with Bitcoin, that's one of the funniest joke I've ever heard for a while.

[o_e_l_e_o]

They have great marketing

This. Look at all the top scam coins - XRP, EOS, TRON, BCH. All complete trash, but all with either big personalities or big marketing budgets behind them. Ask any serious crypto user their opinion of these coins, and they will laugh, but newbies chasing get-rich-quick schemes outnumber serious users 100 to 1. Unfortunately, EOS launching some probably illegal Minecraft rip-off dApp or Justin Sun tweeting that he will be announcing an upcoming big announcement for TRON are more eye catching to these newbies than actual "boring" progress and real world use like SegWit or LN.

[DooMAD]

They have great marketing

This. Look at all the top scam coins - XRP, EOS, TRON, BCH. All complete trash, but all with either big personalities or big marketing budgets behind them. Ask any serious crypto user their opinion of these coins, and they will laugh, but newbies chasing get-rich-quick schemes outnumber serious users 100 to 1. Unfortunately, EOS launching some probably illegal Minecraft rip-off dApp or Justin Sun tweeting that he will be announcing an upcoming big announcement for TRON are more eye catching to these newbies than actual "boring" progress and real world use like SegWit or LN.

It's to be expected, really.  The same has a tendency to occur in any new industry.  Looking back to the early days of the dotcom bubble, it was all about who could make the biggest song and dance.  Style over substance.  Eventually that industry matured and then everyone finally realised that substance actually counts for something.  Over time, the same will happen in crypto.  

These hollow buzzword coins have a limited lifespan.  We're just ahead of the curve because we can see through the glitzy veneer, while Weiss and their ilk are still dazzled and dumbfounded by it.