It’s Official: Not Hacked! Weiss Ratings Cryptocurrency Report Claims to Be for Real

Posted by on January 24, 2018 5:10 pm
Tags: , ,
Categories: rating

The first of its kind Weiss Ratings grading of cryptocurrencies was eagerly awaited. The report’s highly anticipated release though was followed by the crypto community’s head scratching.

Every “first of its kind” by default suffers from overestimating itself. But what the heck, even a massive Korean cyberattack on its website couldn’t stop the report from being released.

For instance: Ripple’s XRP token received the same C grade as Dogecoin. Remember, Ripple is strides ahead when you zoom out and look at Rippleā€™s position in the market relative to any other blockchain player. No one else has customers deploying their products commercially.

By now four companies signed up to use XRP.

Dogecoin founder Jackson Palmer on the other hand recently published an article titled My Joke Cryptocurrency Hit $2 Billion and Something Is Very Wrong.

This in a nutshell explains how credible the Weiss Ratings report is.

Anyways, I wanted to know more and called the Weiss folks in Florida. The conversation with the friendly lady at the other end went about like this:

Me: Hello, I wanted to download your just released cryptocurrency report but heard your site was hacked. Is it safe to download?

She: Oh yes, it’s absolutely safe. We’re not hacked. Please go ahead.

Me: If I buy the report, will I get daily email reports on the latest market action?

She: No, you receive weekly updates every Friday, 4 p.m. ET.

Me: Oh.

She: Yes.

Me: Are you familiar with the ratings?

She: What do you mean?

Me: I heard that XRP, the cryptocurrency of Ripple, received the same rating as Dogecoin. Ripple seems to be based on a valid business model gaining traction, the latter might be considered to be a joke coin.

She: The report is based on various sources and on a system that’s around for 40 years.

Me: Oh.

She: Yes.

Me: Alright, then it’s safe to download. I’ll proceed.

She (hesitating): Ehmm, do you know how much it costs?

Me: Some 500 dollars.

She (relieved): You did see the pricing then, good.

Well of course I didn’t hand over my credit card details yet. Might well save up that money for some Dogecoin…