Why Crypto Community told Weiss Ratings to Fuck Off!!!
Little known Weissratings.com started to rate crypto currencies today & it went horribly wrong. They probably thought that their ratings would be taken seriously by the crypto community. They probably thought that people would panic & sell or buy based on their ratings. Nothing like that happened. Market did not react at all to these Weissratings. In fact they were trolled so much on Twitter that they published a clarification.
Why should Crypto Investors not take Weiss Ratings seriously?
Firstly Weiss Ratings have absolutely no idea about Crypto Currencies. They have being doing ratings for stocks & till recently no one had really heard about them outside US.
Secondly this little known rating agency wanted to do a PR stunt to cash in on the crypto market. They wanted to earn money by publishing some fake ratings for crypto currencies. Published on their website: “The regular cost of a one-year subscription to Weiss Cryptocurrency Ratings is $936. However, as an early visitor to our just launched website, you are entitled to a 50% discount, bringing your cost down to $468 per year.”
$468 for ratings which have absolutely no explanation, as to how they measure it, what factors are considered, if they have analysed the White paper.
Bad Ratings for Major Crypto Currencies
Bitcoin was given a “C +”, Ethereum “B” & Ripple “C”. The person writing these ratings has absolutely no knowledge about these currencies nor has read any of the white papers. Joke coin like Dogecoin is rated same as Ripple “C”.
Doing their first ever ratings last thing they should have done is begged people to subscribe & pay $468. The crypto investors would rather bet this money on some shit coin than pay for these fraud ratings.
@Weissratings Twitter account had not tweeted since 6.June.2017. Which tells everyone that they are not active on social media neither are they popular.
I personally think this was their chance to make some quick money & get free marketing buzz. This has backfired for them. And the crypto community does not forget, they share & educate each other. It will be very difficult for them to come back & be taken seriously again. Share this information & educate everyone. Do not pay for their subscription & don’t take their ratings seriously.
Some of the Crypto Investor Reactions on Twitter:
“You people have no idea about Cryptocurrency. You are just trying to cash in on the Crypto Hype. You have never read #XRP White paper nor understood it’s technology. Your ratings will be the last thing any crypto investor will ever read. Just get lost #Boycottweissratings”
“@WeissRatings What a day. Having a rating agency release the first ever published ratings on cryptos. Thought the impact would be huge. But it turned out that people laugh at your ratings like they do with those weirdos that share charts with MS-Paint drawn triangles on it.”
“You are full of ignorance about crypto, and your response proves it. The joke Doge has a C… like Ripple who is one of the strongest projects. And your “crashes” argument deserves no answer. In one word : bullshit. And you sell it”
“Not a bias report when people affiliated with stock market are doing these reports!! All bullshit!!”
What a joke!!! Doge and XRP get the same rating?! You guys have got to be smoking something!! #weissratings #XRP
“are you guys drunk or high? your own ratings are *complete* trash. who made this abysmal list of crap probably doesn't even know how a mouse pad works.”
