Bitcoin channel

But no. Ethereum, Steem, Cardano, EOS and NEO were all rated higher than Bitcoin.The EOS rating is especially notable because the project hasn’t even launched yet.There was so much disagreement with Bitcoin’s initial rating in the Weiss Cryptocurrency Ratings that Weiss Ratings made a blog post explaining their reasoning behind the rating. While the post noted Bitcoin’s superb fundamentals, it also claimed that the world’s first cryptoasset is lacking in other areas.“Bitcoin falls short in two other important areas: Our Risk Index, reflecting extreme price volatility[,] and our Technology Index, reflecting Bitcoin’s weaknesses in governance, energy consumption and scalability,” said the blog post.In terms of the Risk Index, Bitcoin getting bad marks for price volatility is all well and good, but it’s still less volatile than the newer altcoins that haven’t been around for extended bear markets.The Technology Index is where they really lose me.Bitcoin has the strongest governance out of any cryptoasset network in existence today because it is the only one that has reached a level of adoption that makes it less vulnerable to a single entity having too much control over the system. The value proposition of a coin with “strong governance” is lower than a coin with no governance at all because the whole point of these systems is to be permissionless and resistant to censorship.
Remember that time people thought Vitalik was dead and the price crashed. https://t.co/0AUsJBx1UA— dark pill (@DanDarkPill) January 15, 2018 (https://twitter.com/DanDarkPill/status/953040193946312706?ref_src=twsrc%5Etfw)

Energy consumption is irrelevant and has no place in a comparison of cryptoasset valuations. Perhaps Weiss Ratings could explain the relevance here in the future.Weiss Ratings’ knock on Bitcoin in terms of scalability is due to the 4 MB block weight limit. “It is encountering major network bottlenecks, causing delays and high transactions costs,” says an announcement from the ratings publication.In other words, Weiss Ratings thinks too many people are using Bitcoin to transact, so it should receive a lower grade. If only Bitcoin had fewer users!Every cryptocurrency network faces a tradeoff between centralization and transaction costs if enough people are using it. Building layers on top of the base blockchain is generally accepted as the best method of scaling these cryptocurrency networks further, and Bitcoin’s first stab at this scaling method, known as the lightning network, is already being played around with on mainnet.If Bitcoin is getting a knock in scalability, it’s likely that they haven’t accounted for the centralization tradeoffs — in terms of technical implementations and/or governance — that come with the other, “more scalable” networks.Electroneum and MoneroThe clearest indicators that the Weiss Cryptocurrency Ratings are complete hogwash are found when you compare some of the ratings on the list.For example, Zcash and SmartCash have the same rating. While Zcash introduced zero-knowledge proofs for better privacy on a cryptocurrency network for the first time, SmartCash appears to be a knockoff of Dash that has less than $1 million worth of trading volume over the past 24 hours. I don’t hold either of these coins, but at least Zcash is doing something interesting.The two most hilarious cryptocurrencies to compare from the Weiss Cryptocurrency Ratings are Monero and Electroneum. Monero is a C and Electroneum is a C-.Electroneum is literally a knockoff of Monero, which is perhaps the most-promising altcoin in terms of protecting user privacy, as evidenced by the fanfare it receives on the darknet markets.
They allegedly raised $40 million to fork Monero and change the decimal place.— Riccardo “fluffyblockchain” Spagni (@fluffypony) December 11, 2017 (https://twitter.com/fluffypony/status/940212654559383552?ref_src=twsrc%5Etfw)

1.3K views15:02