Re: [ANN][XAS] Asch | Decentralized Application Platform Based on Side-chain
New Weiss Ratings for Cryptocurrencies Award No As, Score Bitcoin a C+, and XAS a C[2018/2/1]
https://medium.com/aschplatform/new-weiss-ratings-for-cryptocurrencies-award-no-a-s-score-bitcoin-a-c-and-xas-a-c-6eba89bab45f
I love Asch, but Weiss ratings are garbage. The article mentions Weiss having "impartial, and unbiased" advice but Weiss has already been outed for this NUMEROUS times:
https://www.reddit.com/r/CryptoCurrency/comments/7sown6/why_weiss_ratings_is_a_sham_and_complete_utter/?st=JCTKES2Z&sh=e6665fdc
http://query.nytimes.com/mem/archive/pdf?res=9803E7DB1F31E73BBC4F53DFB2668389669EDE
https://www.sec.gov/litigation/admin/2012/34-67940.pdf
The SEC has been on Weiss' ass several times already...those ratings are worthless, and even if they were good, they aren't the kind of ratings you would want to tout as a good look.
The general idea of producing ratings isn't bad, but I agree those are garbage. First, it is way too early to come up with any kind of reliable rating. Second, centralized rating agencies failed in the past big time and, hence, a decentralized rating agency might be a better solution. Then again, what is a decentralized rating agency? To me, that concept sounds very similar to the market itself driven by supply and demand. A centralized rating agency just puts an artificial price tag to an asset. Maybe prediction markets are the future rating agencies.
My thing is forget whether a ratings system is necessary or not, WEISS IS A 3 TIME SEC LOSER!! Not just for anything, he's been jammed up MULTIPLE TIMES for shilling his biased investment picks. Its one thing to shill something you own objectively and disclose that you own it. Even if you want to state personal opinions if you disclosing that you own something that's cool too, especially if you are stating that your thoughts are not to be taken as investment advice. Its a completely different thing to pose as a financial advisor with shady tactics and be subpoena'd by the SEC several times. Weiss is the latter.
The moment his name is attached to something that thing loses credibility. "Weiss" ratings should be a dead giveaway to the quality of said ratings (bad) but most people don't even know Weiss and automatically will assume his ratings are respectable if they are marketed well. The record shows this guy is a seedy dude when it comes to these kind of things.