Introducing BD Ratings — A Competent Cryptocurrency Ratings Provider
In these times of crashing cryptocurrency prices there is still work to be done. And what more of a herculean task can you take on than trying to rate the world's constantly growing number of cryptocurrencies in a way that is more fair and competent than any of the other ratings providers out there?
I must admit that I don't remember when the idea of starting a new ratings provider took root, but it sure solidified as Weiss Ratings proved they did not understand cryptocurrencies. Additionally, my own understanding of the space has grown and evolved considerably over the years so I guess it is natural to want to put this knowledge to use. Cryptocurrencies in general are hard to understand; anyone telling you differently is most likely ignorant. Judging the merit of many different cryptocurrencies is in most circumstances even more difficult as there is just too little time and too much and fast development going on. But what if you could apply a logically sound and more or less universal template to effectively analyse a cryptocurrency? I compare such a template to a prism in my latest write-up on exactly this subject.
Bezant & Denier Ratings, or BD Ratings in short, is an attempt to apply such a template on cryptocurrencies to find out if the market valuations are completely unjustified or not (hint: right now they almost always are). It is a free alternative to the typical narrative heard from premium ratings providers like Weiss Ratings as well as others in the space, where the importance of decentralization, security and long term thinking is downplayed and yet-to-be-built futuristic features and shallow metrics like transactions per second are praised over and over again.
Expect a number of published ratings in the next couple of days and weeks. A rating consists of four sub-ratings from 1-10, that when combined form a parent rating, also from 1-10. 1 would amount to severely over valued or even scam, and 10 would amount to severely under valued. 5 is neutral.
The coin selection is random and tied to BTC block nonces combined with CMC data of the top 300 coins. This method has been chosen to hopefully mitigate some bias and to hinder paid for, dishonest promotion (I'm looking at you, McAfee). Since I do own certain coins myself I will always disclaim that provable fact in relevant ratings. But since there is also no way of proving that I do not own a certain coin, that information in itself is not very helpful. The ratings provided here must be judged on the merits of logic and knowledge.
Any questions or input can be sent to: firstname.lastname@example.org
Original Medium article can be found here.