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The Weiss Rating Agency site crashed this morning...probably by the amount of traffic directed towards it! For those who don't know, weiss ratings released this morning their ratings on 74 cryptocurrencies. A lot of attention is directed towards it and I was really curious to know their ratings on STEEM.
Seems like Christmas came early this year! People don't even have to pay in order to know that STEEM is a buy opportunity.
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I was able to find some information on their splash page:
http://finance.weissratings.com/crypto/
Here is an excerpt:
>PALM BEACH GARDENS, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, releases today the nation’s first-ever grades on cryptocurrencies by a financial rating agency. Weiss gives Bitcoin a C+ (meaning “fair”) and Ethereum a B (“good”). None of the cryptocurrencies covered currently get a grade of A (“excellent”). In total Weiss currently covers 74 cryptocurrencies.
>A grade of A or B can also be interpreted as the investment rating equivalent of “buy.” At the same time, investors should not be overly alarmed by a C rating. It is a passing grade, and for investors, implies the equivalent of “hold.” Grades of D” and E” are the equivalent of “sell.” However, investment decisions should not be made solely based on ratings. They are meant as a tool in the context of a broader risk management strategy.
>What makes Weiss’ entry into cryptocurrency ratings significant is its history of independence and accuracy in other investment sectors, as noted by the U.S. Government Accountability Office (GAO), Barron’s, The Wall Street Journal, and The New York Times, among others.
>“Despite extreme price volatility, cryptocurrencies have a bright future and the potential to deliver unusually large profits to investors,” said Weiss Ratings founder Martin D. Weiss, Ph.D. “However, the market is hectic and confusing for investors. They need the clarity that only robust, impartial ratings can provide.”
>The Weiss Cryptocurrency Ratings evaluate price risk, reward potential, blockchain technology, adoption, security, and other factors. “Due to rapid changes in the data,” explains Weiss, “upgrades and downgrades are more frequent than in other sectors we cover.”
>Below is a sampling of Weiss Cryptocurrency Ratings, selected randomly to illustrate a variety of strengths and weaknesses:
> - Bitcoin (rated C+) gets excellent scores for security and widespread adoption. But it is encountering major network bottlenecks, causing delays and high transactions costs. Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.
>- Ethereum (B), the second most widely adopted cryptocurrency, benefits from more readily upgradable technology and better speed, despite some bottlenecks.
>- Novacoin (D) and SaluS (D) are weak in terms of both technological innovation and adoption.
>- Steem (B-) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature.
Read more here: http://finance.weissratings.com/crypto/
The rest of the information is for sale but it's interesting that they mentioned STEEM as a "bonus" on their landing page.
CONCLUSION
We are not crazy! STEEM is definitely a buy!
