Foreign cryptocurrency investors were apparently very worried that Weiss would issue negative ratings on digital currencies. The ratings agency says bitcoin faces major challenges that have resulted in delays and high transaction costs, without immediate plans for an upgrade. weissratings.com has been around for 20 years and was last updated in December. Do you agree that such forks should be avoided at all costs?

This is based off of a removed posting with no link? You can unsubscribe at any moment, Governor of Hungary's Central Bank Calls for Bitcoin Mining and Trading Ban, US Food Chain Giant Shake Shack Offers Bitcoin Cashback, Criminal Whales Hold More Than $25 Billion Worth of Crypto (Chainalysis Report), 5 Common Mistakes to Avoid During a Crypto Bear Market, The Cardano Roadmap Eras Explained: Byron, Shelley, Goguen, Basho, and Voltaire, Nobody Cares About Shiba Inu (SHIB) Anymore, And Theres a Reason For It (Opinion), Talking Fireblocks Massive Growth and Crypto Biggest Challenges: CEO Michael Shaulov (Exclusive Interview), Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview, Whats Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion), Institutions Are Definitely Here: ConsenSys Harriet Browning (Interview). And he bashes the implied centralization. According to its website, the project has processed over 1,200 applications from 63 countries and financed $300 million.

Weiss also issued a warning on yet another aspect of the Milo business model. People think [BTC] will go to the moon but nobody thought the great financial crisis or Covid was coming. r/Stellar is for news, announcements and discussion related to Stellar. The new guidance states that government officials are to file financial disclosures if they hold NFTs or F-NFTs worth more than $1,000 for investment or production of income. Play Now! "Earlier commentary on social media expressed considerable fear we were about to release negative ratings on their preferred currencies," Weiss Ratings founder Martin D. Weiss said in a statement. and apparently irrelevant; there haven't been any moves in the market that can be attributed to this report.

Since they dont liquidate their digital asset holdings, the clients avoid the taxes on capital gains and continue to speculate on future price rises, making it look like a win-win for everyone involved, except its not according to Weiss. All we need to know is that they gave out one of their few top ratings of "B" to the walled garden shitcoin STEEM. Q&A: This project says it runs solely on sustainable energy how? In the Tuesday report, Weiss analyst Jon D. Markman urged caution with such mortgages, citing the poor performance of stocks and crypto this year, a U.S. housing bubble, rising interest rates and the Federal Reserves upcoming policy changes. ", -> https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2. B-rated ethereum and digital currency EOS have the highest ratings. The startup, which recently raised $17 million to continue with its mission, plans to pool BTC-backed home loans and offer them as bonds to asset managers and insurance companies, or even as bonds in a securitization, the founder revealed. So we have new type of scam that want to take your money: And the more popular crypto will be, the more scams we will see. Dont touch the cheap imitation coins with a 10-foot pole. However, not everyone seems to be convinced about integrating digital assets into mainstream financial products. Ishan Wahi, his brother Nikhil and friend Sameer Ramani are accused of violating securities laws antifraud provisions to earn over $1.1 million in illegal profits between June 2021 and April 2022.

Referring to Miami startup Milo, a digital bank that offers crypto-backed home loans, the firm noted that the plans are fraught with warning signs.. And looks like nothing happened. But when the housing prices crashed, lending to the real estate sector became unviable, and the refinancing was not as easy as before. Sign up for free newsletters and get more CNBC delivered to your inbox, Get this delivered to your inbox, and more info about our products and services., 2022 CNBC LLC.

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It has been a rather enjoyable last few weeks in the cryptocurrency market, with Bitcoin and virtually every altcoin enjoying rather solid turnarounds signaling increased confidence in what had been an otherwise bearish marketplace. 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. Besides news, he likes to blog about digital marketing. Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain. denial of service attacks from Korea in the hours heading into the ratings announcement, and blamed Korean social media posts for raising fear the agency would release negative ratings on certain cryptocurrencies. As per a recent Bloomberg report, the company has a waitlist of 8,000 people who want to buy real estate in New York, California and Texas.

We want to hear from you. It will result in a fall in home prices as the number of home buyers will drop. However, Markman also raised concerns that Milos larger plan is to pool crypto-backed home loans and offer them as bonds to asset managers and insurance companies, likening it to behavior that resulted in the 2009 housing market crash. ", 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. Stellar is a decentralized protocol that enables you to send money to anyone in the world, for fractions of a penny, instantly, and in any currency. We made deposits, played and reviewed 80+ crypto casinos to choose the best one. Related: Bitcoin bear market may take BTC price to $25K, says trader with stocks due capitulation. But it means theyre essentially adding back the same miner tax they had previously deleted. They have absolutely no experience in the cryptocurrency market and there are no compelling reasons to believe that their grading metrics are useful or relevant in the least. Fidget Spinner vs adorable cute dog. Florida-based ratings and research firm Weiss Ratings has fired out a warning over the risks of crypto mortgages amid the current economic climate in the United States. Homebuyers have been paying high prices, thanks to the Fed Reserves cheap money policies over the past several years. Dog will win that fight for sure. Weiss Ratings Voiced Concern Over Crypto-Backed MortgagesAmid Market Uncertainty, Its an interesting strategy but given current market conditions, investors should be skeptical, especially with financial stocks, the, In December last year, Toronto-based savings and credit platform Ledn, However, not everyone seems to be convinced about integrating digital assets into mainstream financial products. They figure going back to the tried-and-tested name Bitcoin will earn them more visibility. https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2, Learn more about Reddits use of cookies. Rule #2. Buy gift cards/mobile Top Ups with Cryptos, Bitcoin Casinos Where, What and How to Play. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Weiss focused its attention on Milo, a Florida company thats at the forefront of the BTC-backed mortgages.

Weiss holds a Ph.D. from Columbia University.

Weiss Ratings, which claims to offer the first "ratings" on cryptocurrencies, has judged ethereum to be better than bitcoin. Many economists see parallels and investors need to see the bigger picture of how this impacts the financial industry as a whole, it reads.

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The Florida-based company usually flies under the radar in comparison to better-known agencies such as Standard & Poor's and Moody's. Its Literally a LTC clone. Lawmakers Call for More Transparency, Bitcoin Hashrate Downtrend Leads To Largest Negative Difficulty Adjustment In A Year. Theres now an official cryptpocurrency rating system, Weiss Ratings starts grading cryptocurrencies. "Weiss' cryptocurrency ratings are a great example of the ongoing institutionalization of the cryptocurrency industry and a healthy addition," Ari Paul, chief investment officer at cryptocurrency investment firm BlockTower Capital, said in an email. Milo raised $17 million worth of Series A funding in March and has plans to develop its mortgage products to meet larger demand, along with upping its headcount. The advantage of digital assets-backed mortgages is that the hodlers will not have to sell their coins but only pledge them in real estate that is relatively less volatile than bitcoin, the company said. In December last year, Toronto-based savings and credit platform Lednannounced the launch of bitcoin-backed mortgage products, using a mix of bitcoin and real estate as collateral. The firm requires zero down payments and its loan rates vary between 3.95% and 5.95%. The company went on to issue safety ratings on banks, saving associations and insurers. While these companies say business is booming, one of the worlds top ratings agency Weiss Ratings has issued a warning against these mortgages saying they look a lot like the lead-up to a 2008-like financial crisis. They weren't worth paying attention to a week ago and they aren't worth it now. Weiss says it does not accept compensation from the companies it rates for issuing the rating. Use provided information at your own risk. The strategy worked fine with everyone, including the bondholders, getting paid. Markman did conclude that not all crypto risk is bad, but it could be in the property sector, before adding no matter what the markets are doing, the potential to succeed in cryptocurrencies is real.. Read our comprehensive comparison! I also have seen some predictions that Stellar will rock after Weiss report. Focus your investment dollars on the coins at the top of our list, meriting a grade of B- or better. Good to know that people have enough sense to ignore these clowns. Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. However, the Fed is gearing up to arrest the high inflationary trend by increasing the interest rate. He founded the company as Weiss Research in 1971 after an early stint at his father's investment-newsletter publishing firm, according to the Times. When the housing prices were on the rise, homebuyers were able to refinance thanks to easy credit and insufficient regulation. Second, he (with his team) cooks up a rationale for making a minor change: He argues ZCash developers have created an annoying miner tax, which collects money from coin miners to fund work by developers. Next, he deletes that one small piece of the code; touts his project as more decentralized; boasts hes taking the higher moral ground; and positions his project as truer to the core philosophy of cryptocurrencies.His real agenda: To cash in on the innovations made by the ZCash team and disguise the fact that his work is just a cheap imitation. Weiss said Friday on CNBC's "Squawk Box" that the agency uses a computer model to rate cryptocurrencies based on four metrics: risk, reward, technology, and fundamental aspects of adoption and security. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. In October last year, United Wholesale Mortgage (UWM)stopped accepting cryptocurrency payments two months after greenlighting the initiative. Reads like a scam because it may well be a scam/hack. https://twitter.com/f_anzs/status/956181106566619136. Reports from Barron's and The New York Times from 2002 and 1992, respectively, note Weiss' lack of A ratings in coverage of insurance stocks, mutual funds and other securities. Seriously if you are not willing to provide concrete proof instead of allegations you should just shut up. One Weekly Email Can Change Your Crypto Life. Their article about how to receive the new report reads like a scam, replete with the faux personalized letter addressed to "dear investor" trying to convince you that their irrelevant report is worth $500 of your money. Milos products include 30-year fixed-rate mortgages secured by digital currency holdings, including BTC and ETH, and lending as much as $10 million on homes. In addition to calling Bitcoin Cash (BCH) intellectually dishonest andBitcoin Gold, Bitcoin Diamond, and Bitcoin God seriously flawed, Weiss added a new set of borderline scamcoins to its list of cryptocurrencies to avoid.

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The Weiss Rating report noted that Milo offering digital-assets-backed mortgages that even forego the down-payment sounds familiar to the pre-2009 situation. "So this may be an attempt to thwart our release today.". As noted by Weiss Cryptocurrency Ratings, the companys highest regarded cryptocurrencies largely performed the best: [] Our highest-rated cryptocurrencies on fire Cardano rose from its 2018 low of US$0.14 to a recent high of $0.38. So no, they are not qualified at much of anything aside from extorting $$ from gullible investors. Sometime in the last couple of hours, it started redirecting to weisscryptocurrencyratings.com. Ethereum's technology also differs from bitcoin in that developers can build applications on the ethereum network.

But that seems unlikely, the Weiss report suggested. For updates and exclusive offers enter your email.

And get this: The reason for the fork is that they want to introduce a voluntary miner contribution program to their original ZClassic.

With both markets suffering from a lackluster performance due to a myriad of factors, macro analysts such as Alex Krueger have boldly suggested that the Feds latest announcements set for this week will determine the fate of the market moving forward. Let that sink in. We use cookies to ensure that we give you the best experience on our website. "You can have a great technology index all the pieces are in place for a very nice, strong currency but unless it's actually reality-tested in the marketplace, it may not succeed, and that's what this last, fourth index tests," he said. Home Business Weiss Ratings issues warning against BTC-backed mortgages. The analysts at Weiss Cryptocurrency Ratings are bullish on every altcoin in the market, of course. In contrast, ethereum had a median transaction fee of about 85 cents Tuesday. Milo helps customers buy US real estate by pledging digital assets as collateral. New to Bitcoin?

More importantly, weissratings.com is registered via Network Solutions, but weisscryptocurrencyratings.com is registered via GoDaddy.

NEO went from $44.62 to a $92.63. Data is a real-time snapshot *Data is delayed at least 15 minutes. No list that rates Dogecoin a C, the same grade as other legitimate coins, is real. In fact, theyre particularly bearish when it comes to forks. Tokenized assets, stablecoins and custody with BSV | CG New York (https://youtu.be/T4YIMgJLJD0). The say its different. By continuing to use this website you are giving consent to cookies being used. Cryptocurrency behaves nothing like traditional stocks, bonds, etc. And U.S. property prices now face headwinds from a change in Fed policy and rising mortgage rates, he added.

Its an interesting strategy but given current market conditions, investors should be skeptical, especially with financial stocks, the Weiss report reads, suggesting that this exactly was the recipe for the Great Recession of 2009. We NEVER send spam. The Weiss cryptocurrency report is nothing more than a scammy publicity stunt designed to take your money. Alongside ZClassic comes Bitcoin Private, which Weiss sees as just another copycat from Creighton: Apparently, copying ZCash isnt quite enough. The median bitcoin transaction fee was above $10 for the last several weeks before dropping to $5 on Tuesday, according to bitinfocharts. Disclaimer: Information found on CryptoPotato is those of writers quoted. You have to subscribe and pay to see the ratings? EOS has surged from $4.01 to its recent high of $21.13! With its own public offering, wallet maker focuses on easy-to-use stock sales, Fintech startup Milo is offering 30-year crypto-mortgages, Mike Novogratz warns that 200x returns from crypto are not normal, Large institutions sold $5.5B in BTC since May and were still here, All Ethereum killers will fail: Blockdaemons Freddy Zwanzger, Epic Games definitely wont follow Minecraft NFT ban, Compass Mining to add 25,000 ASIC miners just weeks after staff cuts.

Completely justifiable. Press J to jump to the feed. Explains Weiss Cryptocurrency Ratings: First, he grabs the innovative genius from ZCash by copying their code.

The 1M euro Bitcoin retirement plan reaches 200K: Its not too late to invest. Doge and XRP have the exact same rating. We are Americas only 100% independent rating agency covering stocks, ETFs, mutual funds, insurance companies, banks, and credit unions; and our independence is grounded in a very critical difference in the way we do business. Could you be next big winner? BitStarz Player Lands $2,459,124 Record Win!

And this is when the Milo strategy might meet with the most serious challenge.

Finance "experts" have been making predictions about cryptocurrency for years and they have failed with boring regularity. You are advised to conduct your own research before making any investment decisions. Swiss Luxury Watchmaker Franck Muller Launches Exclusive Binance NFT Collection With Multiplayer Browser Stack Announces Selling Lifetime Licenses as NFTs, Bitcoin.com Simplifies Cryptocurrency Payments, Enhances Data Sovereignty With Unstoppable Domains Partnership. This trend has continued in the face of fewer new homes than the number of homebuyers. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology. A new crop of companies has sprung up in recent times offering mortgages backed by BTC and Ethereum, with the clients not having to pay any down payment. Finally, Weiss cautions investors away from what is likely Creightons next cryptocurrency project, Bitcoin Prime.

I posted this in the other thread, but worth re-posting here. What do you think of Weiss Cryptocurrency Ratings dismissal of ZClassic, Bitcoin Private, and Bitcoin Prime? Let's stop talking about them (and yes, I realize the irony of that last statement lol). We dont even bother to rate them. Writes the rating agency: After misleading investors by creating Bitcoin Private, building some hype around it, and making some big money in the process, the serial coin imitator is not giving up. The clients get to make their monthly payments in either digital assets or cash with the rates being around 3.95%-5.95%. https://whois.icann.org/en/lookup?name=weissratings.com https://whois.icann.org/en/lookup?name=weisscryptocurrencyratings.com, I just read their explanation of the ratings and they are literally retarded. Thats the equivalent of only $39 per month, or $9 per week.

Now, Bitcoin Private is truly identical to the original ZCash, except for meaningless differences. I consent to my submitted data being collected and stored. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency. You can unsubscribe at any time. Got a confidential news tip? John Kerschner, the head of U.S. securitized products for Janus Henderson Investors stated, A crypto mortgage seems inefficient given the volatility. Cryptocurrency-backed mortgages are repleted with risks akin to those responsible for the 2009 recession, said the US-based rating company Weiss Ratings. Weiss themselves confirmed Korean cyberattack https://imgur.com/a/6QLyz. Weiss Ratings gives ethereum a "good" B rating and bitcoin a "fair" C+ rating. The business is based on a model where crypto-backed home loans are sold as bonds to asset managers and other financial sector investors. In a post earlier this week on its official website, Weiss Cryptocurrency Ratings praised some of the markets best altcoins but shared some harsh words in regards to Bitcoin and ZCash forks. Press question mark to learn the rest of the keyboard shortcuts. Removing the housing market from the equation, if the price of BTC or ETH were to plunge significantly over the next few months, there does appear to be a fair amount of wiggle room for Milo users, however. "The regular cost of a one-year subscription to Weiss Cryptocurrency Ratings is $936. The Milo plans seem to be a perfect win-win for both the firm and its investors as long as real estate and crypto prices are rising.

But this could end up being disastrous, Weiss believes, drawing parallels with the 2008 financial crisis. So the serial coin imitator makes a new announcement: He and his team are forking ZClassic itself into another coin named Bitcoin Private. Weiss sums up their analysis with three (self-promoting) rules, which some may consider wise: Rule #1.