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Weiss, the financial rating agency who recently took an ounce of cryptocurrency, criticized his latest complaint. After Weiss Ratings issued a tweet that predicted that BTC would lose 50% of its market share in ETH, the company was forced to turn back in the face of widespread disdain. It is not the first time that Weiss makes a bad cryptographic call.
Read also: The apocalyptic predictions on private currencies are very numerous
Weiss still does not get Bitcoin
As a new child at school desperate to make a big impression, Weiss Ratings came out swinging entering the world of cryptocurrency. A series of audacious and often controversial assessments of blockchain projects reached the goal of attracting the attention of the cryptic community that Weiss had courted. Apparently under the mantra that every advertisement is a good advertisement, Weiss continued to dispense misleading predictions with the absolute certainty that only a newb could possess. His last proclamation could be even stranger:
Describing Bitcoin as a "pony one-trick" is as audacious as it is deceptive. The trick Bitcoin does well – to distribute money that is completely decentralized and resistant to censorship – is worth more than a million blockchains, all singers and dancers who can be turned off at the touch of a switch. Ethereum is at least decentralized, certainly compared to most other blockchain projects, but even its most loyal supporters would refuse to praise the lyric about its "superior blockchain technology". The project is not even scalable at the moment, and the congestion of the Ethereum network has become the norm rather than the exception.
Weiss Performs a Volte-Face
After being recalled on his cryptic tweeters, Weiss has backed down, tweeting : "In 5 years we see the # ETH-LIKE platform that dominates the market – not necessarily ETH, it is difficult to predict which project we are targeting, but we believe that ETH's utility and flexibility are the standard. do not be clear ". It is also related to the third-party article where the claim was made that Bitcoin would lose half its market share in Ethereum in five years. (The article, for the record, can be entirely discounted from the moment the complaint came from the founder of an artistic project that has fired their Ethioum ICO.)
"Experts" as the Weiss Ratings have perfectly the right to issue forecasts on where they see the market go, but let the ETH beat BTC is definitely a false dichotomy as each project is designed to solve a different problem, and thus the market share of the one is largely dissociated from the other. Last month, news.Bitcoin.com reported on Weiss's embarrassing statements about private currencies, the agency that advised that "efforts to discourage the use of private currencies for illicit activities would not harm the 39. Encrypted industry Nor would deny the protection of citizens from invasions of their privacy. "
Just as CNBC bitcoin price forecasts were stored in a counter-encryption on Twitter, Weiss Ratings statements are going to the same way. Whatever Weiss believes, there is a good chance that the opposite is true.
What do you think of the Weiss Ratings cryptocurrency predictions Please let us know in the comments section below.
Courtesy of Shutterstock and Twitter.
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