Let's stop talking about them (and yes, I realize the irony of that last statement lol). Weiss themselves confirmed Korean cyberattack https://imgur.com/a/6QLyz. Independent from the SDF. So the serial coin imitator makes a new announcement: He and his team are forking ZClassic itself into another coin named Bitcoin Private. The hackers then broke into the website, took information from it and are distorting it on social media, the company said.
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.
John Kerschner, the head of U.S. securitized products for Janus Henderson Investors stated, A crypto mortgage seems inefficient given the volatility.
They figure going back to the tried-and-tested name Bitcoin will earn them more visibility. Weiss sums up their analysis with three (self-promoting) rules, which some may consider wise: Rule #1. Some digital currency exchanges have reported degraded service due to similar cyberattacks, which attempt to paralyze a system with a flood of information. Now, Bitcoin Private is truly identical to the original ZCash, except for meaningless differences.
Alongside ZClassic comes Bitcoin Private, which Weiss sees as just another copycat from Creighton: Apparently, copying ZCash isnt quite enough. The Florida-based company usually flies under the radar in comparison to better-known agencies such as Standard & Poor's and Moody's. 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. 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. Weiss also issued a warning on yet another aspect of the Milo business model. The analysts at Weiss Cryptocurrency Ratings are bullish on every altcoin in the market, of course. We want to hear from you. Weiss says it does not accept compensation from the companies it rates for issuing the rating. I'm not sure why a company that uses Network Solutions for their main site would use GoDaddy for a new site.
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. The ratings agency says bitcoin faces major challenges that have resulted in delays and high transaction costs, without immediate plans for an upgrade. And U.S. property prices now face headwinds from a change in Fed policy and rising mortgage rates, it says. Could you be next big winner? "The regular cost of a one-year subscription to Weiss Cryptocurrency Ratings is $936. In contrast, ethereum had a median transaction fee of about 85 cents Tuesday. Ethereum, the second largest by market cap, traded about 3 percent higher near $1,019, according to CoinMarketCap. Related: Bitcoin bear market may take BTC price to $25K, says trader with stocks due capitulation. B-rated ethereum and digital currency EOS have the highest ratings. 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. 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. This forced millions of borrowers to default on their mortgage loans, leading to a global financial crisis. Crypto Reacts: Tesla Panic Sells Its Bitcoin, The Internet Explodes, Quant Suggests Teslas Bitcoin Dump Behind Recent Red Coinbase Premium, Blockchain.com Renders A Quarter Of Its Workforce Jobless As Bear Market Bites, New Reason For The Market Crash Revealed: Tesla Sold 75% Of Its Bitcoin In Q2, Bitcoin Mining Gets Cleaner As U.S. In fact, the Weiss report opened with a note of caution, saying that mortgage rates are rising quickly in the US.
However, the Fed is gearing up to arrest the high inflationary trend by increasing the interest rate. 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. We made deposits, played and reviewed 80+ crypto casinos to choose the best one. 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. 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. Please focus on community-oriented content, such as news and discussions, instead of individual-oriented content, such as questions and help. Dog will win that fight for sure. Finally, Weiss cautions investors away from what is likely Creightons next cryptocurrency project, Bitcoin Prime. Let us know in the comments below! 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. And looks like nothing happened. It will result in a fall in home prices as the number of home buyers will drop. Ethereum's technology also differs from bitcoin in that developers can build applications on the ethereum network. By continuing to use this website you are giving consent to cookies being used. So finance.weissratings.com/crypto was a pretty boring text page this morning. The clients get to make their monthly payments in either digital assets or cash with the rates being around 3.95%-5.95%. After being in the mainstream print media for over 10 years, Arun has been active in digital media. The only noteworthy change is the branding.
Reads like a scam because it may well be a scam/hack. https://twitter.com/f_anzs/status/956181106566619136. While stablecoins could also be utilized in times of market volatility. Contact: LinkedIn, Sign-up FREE to receive our extended weekly market update and coin analysis report. Milo helps customers buy US real estate by pledging digital assets as collateral. All Rights Reserved. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology. But when the housing prices crashed, lending to the real estate sector became unviable, and the refinancing was not as easy as before. 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). The firm requires zero down payments and its loan rates vary between 3.95% and 5.95%. predictions that Stellar will rock after Weiss report. Thats the equivalent of only $39 per month, or $9 per week. The agency notes, The product seems to be like a win-win, assuming real estate and crypto prices keep rising except there are signs both bets are unlikely to be winners in the near term.. Foreign cryptocurrency investors were apparently very worried that Weiss would issue negative ratings on digital currencies. 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. The "report" that was released showed a C. It's still up in the air whether the report was legit or not. If you continue to use this site we will assume that you are happy with it. Lawmakers Call for More Transparency, Bitcoin Hashrate Downtrend Leads To Largest Negative Difficulty Adjustment In A Year. They weren't worth paying attention to a week ago and they aren't worth it now. We never send SPAM. And U.S. property prices now face headwinds from a change in Fed policy and rising mortgage rates, he added.
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. The business is based on a model where crypto-backed home loans are sold as bonds to asset managers and other financial sector investors. Theres now an official cryptpocurrency rating system, Weiss Ratings starts grading cryptocurrencies. and apparently irrelevant; there haven't been any moves in the market that can be attributed to this report. Assuming that these scam artists are even qualified to make recommendations concerning the vanilla finance market (they aren't if their track record is any indication), they have no business interjecting their bullshit in a market they fundamentally don't understand.
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.