Weiss Ratings released its first crypto ratings and Bitcoin got a C+ while STEEM and Cardano got a lot higher. Nobody on the ratings got a A.  Many Bitcoin holders were very upset to hear the news.

(Source)

The company was even attacked this morning by alleged hackers that didn't like the rating. I would post the full ratings, but you have to sign up and use a credit card. So I didn't do that. lol. If you want to, go here.

This guy goes through the prices if you want to see the whole list.

It is interesting that EOS, Ethereum, Cardano and Steem are all in the B to B- range. That is great for Steemit.

But let's look at if Bitcoin deserves the C+ rating.

First of all, I reconize that Bitcoin paved the way for all of us, but looking at things from an investment standpoint, like Weiss Ratings is doing, then it makes a little more sense.

When the price spiked about two months ago, the transaction fees were ridiculous. One of mine was $87. It took longer than any transaction I've done on any blockchain. It was expensive and slow. 

When it comes to many other crypto currencies, their goal is to be cheap and fast. Look at Steem, transfers are very fast and always free. 

One major factor that limits Bitcoin for the future is the energy consumption to mine. It costs around $1,000 in electricity to mine a coin depending on where you are in the world. That is a lot of electricity and a deterrent.  Compared to Steem again, the cost to create a coin is astronomically higher. People can create Steem by using a normal level of computer energy post and reply on Steemit. 

Bitcoin is a valuable coin and will go up in value, but the ratings by Weiss are exposing the weaknesses of Bitcoin. Remember Bitcoin was built for the future almost a decade ago. To put that into perspective, the iPhone was created a decade ago.

Bitcoin was made for the future, but we are past that future in a sense. Now Ethereum is built for the future but at some point, Cardano will be the future. Things are moving fast and we are only at the beginning of this. It makes sense that Ethereum and Cardano scored higher than Bitcoin in my opinion. But a C+, I don't know.  

With all that being said, I do think that Bitcoin is a wise investment or I would hold what I'm holding. I do think that things like Ethereum, Steem, EOS and Cardano have a lot more room to grow than Bitcoin. 

I'm not a financial advisor... remember that. I'm just a guy trying to figure out this crypto market which is impossible to predict and even harder to make sense of. lol Do your own research and do what you think is right. After I buy a house and a car on crypto, then you can ask me for advice. lol

Do you think Bitcoin deserves the C+ rating? Let me know in the comments below.

Thanks for reading.