Weiss Ratings Agency explains, why they gave a C+ rating to Bitcoin
Due to backlash from many in the cryptocurrency communities, Weiss has decided to explain a little, why they gave out the ratings as they did.
According to Weiss, people feel a rating should reflect the quality of work and relative success in the world. To address this, Weiss uses 4 metrics to evaluate cryptos - two metrics from traditional asset analysis, 2 metrics from cryptocurrency specific analysis. The first two metrics mearure investment risk and returns - according to many, these risks are overstated, but Weiss claims, that their model accurately reflects "an inconvenient truth".
The last two metrics point out, that Bitcoin does well on some areas (security, usage, participation), but lacks in some major areas - namely network capacity, major fees and centralization, where 5 large mining pools control nearly 3/4 of the hash-rate. And of course - scalability and sustainability - by which they mean that Bitcoin is the oldest model and has yet to work out some kinks for future-proofing, while newcomers have these child diseases already ironed out.
Weiss tries to be impartial in their ratings. By trying to give out a justified rating, they are bound to step on some toes. I lack some of the information many others and maybe even many of you, my readers, have about cryptocurrencies and blockchain technology and hence i won't rush to judge, whether Weiss rated Bitcoin in a fair manner. They give hope for Bitcoin and they have said, that all ratings are subject to rapid change, should the underlying conditions change.
Read the full report here at Weiss Cryptocurrency Ratings
Something else, that i picked up:
Coinbase promises to roll out Segwit support in a couple of weeks. Finally! According to Coinbase, they are at their final testing phase of Segwit compatible sends and receives, which will reduce both transaction fees as well as confirmation times.
In a statement on December 15, 2017, Coinbase pointed out that they will prioritize security and performance over implementing new features, but as many of their competitors have already rolled out Segwit and a petition on change.org to bring Segwit to Coinbase gathered over 12,000 signatures, they are moving their plans up a little.
Want more details? Hit up the original article at bitcoinist.com
Check out Chainbb, an alternative frontend for STEEM network. If you like forum style, that's the platform for you.
Title image from pixabay
Are you looking for Minnowbooster, Buildteam or Steemvoter support? Or are you looking to grow on Steemit or just chat? Check out Minnowbooster Discord Chat via the link below.
BuildTeam