Crypto Currency Thread
Discussion
The Weiss ratings are going to be released at 2:00pm, a lot of people assume this is all going to be good news and the coins will rocket after this announcement. Do we think some serious back handers were exchanged before this data is released or do we think it may not actually be all good news like most people think? I personally cannot see how anyone can say Crypto is a good investment (unless you got in a year ago).
"Weiss Announces First Bitcoin and Cryptocurrency Grades by U.S. Rating Agency
Risky Crypto Market to Get the Clarity Only Impartial Ratings Can Provide
Palm Beach Gardens, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
The new Weiss Cryptocurrency Ratings, to be released January 24, are the first by a financial rating agency. They are based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD. “We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they're bound to create controversy, including some grades that may come as a surprise to some people.”
"Weiss Announces First Bitcoin and Cryptocurrency Grades by U.S. Rating Agency
Risky Crypto Market to Get the Clarity Only Impartial Ratings Can Provide
Palm Beach Gardens, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
The new Weiss Cryptocurrency Ratings, to be released January 24, are the first by a financial rating agency. They are based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD. “We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they're bound to create controversy, including some grades that may come as a surprise to some people.”
Joey Deacon said:
The Weiss ratings are going to be released at 2:00pm, a lot of people assume this is all going to be good news and the coins will rocket after this announcement. Do we think some serious back handers were exchanged before this data is released or do we think it may not actually be all good news like most people think? I personally cannot see how anyone can say Crypto is a good investment (unless you got in a year ago).
"Weiss Announces First Bitcoin and Cryptocurrency Grades by U.S. Rating Agency
Risky Crypto Market to Get the Clarity Only Impartial Ratings Can Provide
Palm Beach Gardens, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
The new Weiss Cryptocurrency Ratings, to be released January 24, are the first by a financial rating agency. They are based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD. “We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they're bound to create controversy, including some grades that may come as a surprise to some people.”
It's useful because cryptos are being targeted by the Tel Aviv binary options brigade. Could remove some of the opportunity for scam coins to pump and dump."Weiss Announces First Bitcoin and Cryptocurrency Grades by U.S. Rating Agency
Risky Crypto Market to Get the Clarity Only Impartial Ratings Can Provide
Palm Beach Gardens, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
The new Weiss Cryptocurrency Ratings, to be released January 24, are the first by a financial rating agency. They are based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD. “We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they're bound to create controversy, including some grades that may come as a surprise to some people.”
dimots said:
Could remove some of the opportunity for scam coins to pump and dump.
It'll be very interesting to see which scams they actually call out. I'm hoping it'll be all of them, but that may be asking too much. At least it's a start & their methodology can only improve once the feedback pours in. The market needs more logical indexing & more professional analysis & it's great to see this stuff forming.Fokker said:
x5x3 said:
or double that if you are married
Exactly. Take out £11300 twice in March then twice in April and you're receiving £45200 tax free each year.Say March 2017 you took your allowance for the 2016/17 tax year
April 2017 your took your allowance for 2017/18 tax year
You then don't have another allowance to take until April 2018, the 2018/19 year.
Also remember that £11,300 is the maximum GAIN you can make tax free (currently). So if you paid £2000 for those coins and then sold at £11,300 you've actually only used £9,300 of your allowance.
Behemoth said:
dimots said:
Could remove some of the opportunity for scam coins to pump and dump.
It'll be very interesting to see which scams they actually call out. I'm hoping it'll be all of them, but that may be asking too much. At least it's a start & their methodology can only improve once the feedback pours in. The market needs more logical indexing & more professional analysis & it's great to see this stuff forming.andy ted said:
Behemoth said:
dimots said:
Could remove some of the opportunity for scam coins to pump and dump.
It'll be very interesting to see which scams they actually call out. I'm hoping it'll be all of them, but that may be asking too much. At least it's a start & their methodology can only improve once the feedback pours in. The market needs more logical indexing & more professional analysis & it's great to see this stuff forming.Going by the etoro messageboards they are all waiting for this announcement, I can see a few coins increasing massively in value come 2:00PM. We all know how Crypto reacts at the slightest bit of positive news no matter how unfounded, I can see rises of 25% to 50% for the coins that come out well (assuming any actually do!)
At the end of the day, what do Weiss care as the majority of these coins will be gone soon anyway.
andy ted said:
Reports on this company are pretty mixed - what’s to stop them going in big on a few coins and using this report to pump them?
Maybe, but they'd be called out very quickly for behaving like that. Hopefully more competitors will arrive in the segment and we'll get some credible and respected analysis. At least this is a start.it will be similar to the etf SEC analysis in march 2017, as the coins themselves are heavily manipulated by exchanges.
' “Regulated markets related to the underlying asset provide a ‘necessary deterrent to manipulation,’” the commission wrote in its analysis. “To the extent there is some question as to the degree to which Bitcoin is subject to manipulation... regulated markets relating to Bitcoin would help answer that question and address instances of such manipulation.”'
I don't think anything has changed, the exchanges control the coins, and there are still illegal trading practices undertaken.
' “Regulated markets related to the underlying asset provide a ‘necessary deterrent to manipulation,’” the commission wrote in its analysis. “To the extent there is some question as to the degree to which Bitcoin is subject to manipulation... regulated markets relating to Bitcoin would help answer that question and address instances of such manipulation.”'
I don't think anything has changed, the exchanges control the coins, and there are still illegal trading practices undertaken.
Edited by The Spruce goose on Wednesday 24th January 12:52
HannsG said:
tertius said:
I’m looking forward to their rating of USDT.
I would absolutely avoid Tether.Tether is a side project of Bitfinex that is used by other exchanges like Bittrex. This means the collapse could have a domino effect that reaches beyond Bitfinex itself.
They are printing money like crazy and no one knows how well backed USDT is. You could pretty much say it will be like crypto armageddon if USDT collapses.
I have nothing to do with it and fully expect Tether to fall over at some point.
Joey Deacon said:
Unfortunately that is my gut feeling. This is a completely unregulated industry with no insider trading rules, if I thought I could make a lot of money by recommending a coin I would do it.
Going by the etoro messageboards they are all waiting for this announcement, I can see a few coins increasing massively in value come 2:00PM. We all know how Crypto reacts at the slightest bit of positive news no matter how unfounded, I can see rises of 25% to 50% for the coins that come out well (assuming any actually do!)
At the end of the day, what do Weiss care as the majority of these coins will be gone soon anyway.
You have a massive downer on crypto, seemingly as you got caught on the wrong side of pump and dump. As a cautionary tail, your views add balance to the market but I'd counter that with adage do your own research. Going by the etoro messageboards they are all waiting for this announcement, I can see a few coins increasing massively in value come 2:00PM. We all know how Crypto reacts at the slightest bit of positive news no matter how unfounded, I can see rises of 25% to 50% for the coins that come out well (assuming any actually do!)
At the end of the day, what do Weiss care as the majority of these coins will be gone soon anyway.
Wrt to the ratings, I wonder if the current support for crypto is people buying the rumour. Positive Weiss ratings may not lead to massive upswing as people sell the news. EOS went up massively in advance of a press conference the other week, but significantly fell of after the conference.
I'm bearish in sentiment (and possibly called the market wrong taking profits this week when ETH was at 1050); but my view was BTC should be testing low 9s, or 8800 at least up to the expiry on the 26th.
I was hoping to pile back in at the low, but I could have screwed up.
stongle said:
Joey Deacon said:
Unfortunately that is my gut feeling. This is a completely unregulated industry with no insider trading rules, if I thought I could make a lot of money by recommending a coin I would do it.
Going by the etoro messageboards they are all waiting for this announcement, I can see a few coins increasing massively in value come 2:00PM. We all know how Crypto reacts at the slightest bit of positive news no matter how unfounded, I can see rises of 25% to 50% for the coins that come out well (assuming any actually do!)
At the end of the day, what do Weiss care as the majority of these coins will be gone soon anyway.
You have a massive downer on crypto, seemingly as you got caught on the wrong side of pump and dump. As a cautionary tail, your views add balance to the market but I'd counter that with adage do your own research. Going by the etoro messageboards they are all waiting for this announcement, I can see a few coins increasing massively in value come 2:00PM. We all know how Crypto reacts at the slightest bit of positive news no matter how unfounded, I can see rises of 25% to 50% for the coins that come out well (assuming any actually do!)
At the end of the day, what do Weiss care as the majority of these coins will be gone soon anyway.
Wrt to the ratings, I wonder if the current support for crypto is people buying the rumour. Positive Weiss ratings may not lead to massive upswing as people sell the news. EOS went up massively in advance of a press conference the other week, but significantly fell of after the conference.
I'm bearish in sentiment (and possibly called the market wrong taking profits this week when ETH was at 1050); but my view was BTC should be testing low 9s, or 8800 at least up to the expiry on the 26th.
I was hoping to pile back in at the low, but I could have screwed up.
My problem is I just can't understand why there are 1500 or so coins and what exactly are they useful for? This just reminds me of the dot net bubble and we all know how that ended up. I suspect even during the dot net bubble the stock market was a hell of a lot more regulated than the crypto market.
It is clear Crypto is manipulated and there are things going on that would never be allowed in a regulated market.
I am purely an interested observer, going to be interesting to see what the 2:00pm report says and how the market reacts.
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