Martin Weiss, founder of the Weiss Ratings agency, explained that cryptocurrencies have three levels of significant value. He made this explanations so as to dispute Warren Buffett’s negative comments on Bitcoin and other virtual currencies.
Cryptocurrency Levels Of Significant Value
Warren Buffett, the American business magnate and investor, said some days ago that Bitcoin is probably ‘rat poison squared’ and has nothing of value. Of course, what he said was covered by the media and different crypto-related experts answered him back.
Martin Weiss, who has also founded the Weiss Cryptocurrency Ratings, has decided to answer Mr. Buffett in a very clear way. In a press release, Weiss explained that virtual currencies provide value on three different levels:
1. Intrinsic value: With many of the advanced cryptocurrencies, investors and users effectively gain a share of a major Distributed Ledger Technology (DLT) platform, with great computing power around the world.
2. Exchange value: This is already a proven quantity and is bound to grow as cryptocurrencies are more widely used in an expanding range of transactions — both in exchange for traditional currency and for goods or services.
3. Monetary system: Select cryptocurrencies could become the basis for a new digital monetary system with the potential to be more stable and less subject to manipulation by governments.”
Weiss Ratings is releasing every single month ratings for the most important virtual currencies in the market. The company founded in 1971, is one of the most respected providers of traditional investment ratings. The main purpose behind the Weiss Cryptocurrency Ratings is to provide clarity to a very unregulated and lax crypto market by providing robust and impartial ratings.
Each virtual currency receives an evaluation that follows the following scale:
- A = excellent
- B = good
- C = fair
- D = weak
- E = very weak
“We’re proud to be the first financial rating agency to bring that benefit to investors – to help avoid the hype, while identifying the few solid and promising cryptocurrencies that ruly merit their hard-earned cash.”
Do you agree with the 3 levels of value that cryptocurrencies have and bring to the table? It is amazing and nearly fascinating when you sit back and see the core concepts and fundamental understandings of money/currency being challenged and how the old isn't always like the new..especially when it comes from a decentralized blockchain asset where all users agree to the same terms from day 1.