Weiss Ratings Agency issues ratings on cryptocurrencies and Steem lands in top 5!
Not only that, but technically Steem was tied for 3rd out of all the 74 cryptocurrencies that were evaluated.
Not bad at all!
Steem actually had a better overall rating than stalwart Bitcoin, which was downright shocking to say the least, especially when comparing their current market caps.
Steem received a "B-", while Bitcoin received a "C+" rating.
Not one of the 74 coins received an "A" rating.
Which is actually somewhat normal considering that the 47 year old Weiss Ratings has been known for their lack of "A" ratings on insurance stocks, mutual funds, and other securities they have covered in the past.
Weiss Ratings is based in Florida and is less well known compared to better-known agencies such as Standard & Poor's and Moody's. Weiss says it does not accept compensation from the companies it rates for issuing the rating.
Weiss is said to be the first ratings agency to offer ratings on cryptocurrency, which appears to be yet another feather in the cap of the cryptocurrency market becoming more institutionalized seemingly by the month.
Ethereum and EOS both tied with the highest ratings given, receiving "B" grades.
Steem tied with NEO and Cardano with the next highest ratings. All receiving a "B-" grade.
More about Weiss can be seen here: https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2
How were the ratings calculated?
Weiss says their ratings system is completely unbiased and independent.
Specifically, it uses a computer model to rate cryptocurrencies based on 4 key metrics:
(Source: https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2)
Next to their rating of steem, they had this to say:
"Steem (B-) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature."
I was pleasantly surprised to say the least.
Hold on to that SP tight folks, it appears we have a really good coin here!
Stay informed my friends.
Image Source:
https://steemkr.com/cryptocurrency/@jorlauski/cryptocurrency-to-be-graded-by-ratings-agency
Follow me: @jrcornel
Great news! I don't think its a coincidence that Steem has a nice rise today while the news is disseminating.
I don't think so either. :)
Hopefully agencies like Weiss begin rating exchanges as well- it would be meaningful to see reputable organizations rate exchanges. It might even drive up the value of coins too.
Interesting thought @otage. I think the level of transparency that Steem shows the public is a huge asset here. Many of these ratings agencies also are bound by the size the security/investment they are grading. You could be the most sound fiscally, financially for over a hundred years, but if your asset base is not high enough your rating cannot exceed a certain grade. That news surely didn't hurt! Cheers @cryptkeeper17
Now that you mention it, that could be the reason. I thought the jump came from an article on ZeroHedge, but it looks like I was wrong. Given the circumstance, I'm glad to be wrong. :)
Steem is in Top 48 coins!
https://steemit.com/cryptocurrencies/@salahuddin2004/top-48-cryptocurrencies-pending-price-target-and-their-due-dates-when-they-will-hit-targets-28-01-2018
Just hope Weiss does a better job than they did in 2007 rating banks and their safety. They were off by miles and would have totally balked if it weren’t for the bank bailouts. Ratings have value; but don’t get complacent, keep doing your homework.
I didn't know much about them back then. I read recently that they have been one of the better ratings agencies in terms of not shilling crap, though. Perhaps they have a short memory?! :)
https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2
Shared on twitter. Stephen
Awesome! Thank you! Hopefully this reaches a lot of people. Pretty good press for steem!
I am willing to bet that it will be number 1 sometime too. Thanks for the info.
The price pop is nice of course but wow, the volume has been massive, a lot of it from Korea:
https://coinmarketcap.com/currencies/steem/#markets
Hello, I have a question when I started steem yesteday everytime i upvoted my self it give me 0.01$ now it dont give me anything can you do a post explaining why this could be interesting
How much your vote is worth is determined by how much steem power you have, how much voting power you have, and then also the current price of steem. If I had to guess I would say that your voting power probably is down now compared to when you first started upvoting. Check out https://steemd.com/@eljuans to see your voting power.
what is bandwith remaining? thanks alot for this information
https://steemit.com/steem/@demotruk/what-to-do-if-your-steem-newbie-friend-is-getting-bandwidth-limit-exceeded-error
The dollar amount is an approximation and depends on the current Steem price (averaged), your Steem Power and your voting power at the time of the vote. Also check the FAQ for more info.
I have been on here 6 months and am not a 38 like you. You must have done something right.
I was going to post about the ratings but you killed it. No need anymore. 👍
As long as the Weiss rating doesn't measure or look at what problem the coins solves and therefore it's usability in the real world, I would rather call it the Scheisse rating.
LMAO :'-D
The functionality of this platform is an incredible testament to the potential of Steem. Onwards!
great news..and great information for me about steem value and i think steem value goes up in feb 2018..
I think that makes sense. But what we have most, if we can focus it like a huge laser, is several very powerful ones, is the Community. Even a short pause in the squabbles over individual rewards, and a co operative focus on finding and evolving the best ideas and writing, and we could take steps towards popular adoption. The 50,000 active user accounts, all by themselves, without successfully outward facing work, obviously isn’t going to be Remotely enough for us to become something really significant, but we do have the passion, the creativity, the people, to create something amazing here, that’s ultimately worthy of the high-quality chain we’re using. Alx
At the moment, I’m pretty consistently looking for wide open, bright, fast, compassionate minds, to hyper interactively work in conversation, to solve some of the issues which may be preventing steem From being as big and as good as it should be. if you use Discord, And have any time to talk with people who are new, to you at least, I’m in the following server, it’s a small one, about half of every day. Thanks, Alx. https://discord.gg/nAVZA8