Ratings firm issues first grades on cryptocurrencies, sparking outrage online and a cyberattack

 

This is part of the great crypto trial by fire which may last years. Crypto currencies present opportunities but they also present challenges. Right now it’s a battle Royale. Fun to watch. But a very challenging space in which to invest.

(From CNBC)

Weiss Ratings, which claims to offer the first “ratings” on cryptocurrencies, has judged ethereum to be better than bitcoin.

The securities ratings agency announced Wednesday that it gave ethereum a B rating because it “benefits from more readily upgradable technology and better speed, despite some bottlenecks.”

Bitcoin received a “fair” C+ rating because the digital currency is “encountering major network bottlenecks, causing delays and high transactions costs,” according to a release. “Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.”

None of the 74 cryptocurrencies the agency covers received an “excellent” A rating. B-rated ethereum and digital currency EOS have the highest ratings.

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