Did I have a bull’s-eye on my back? I didn’t, but it sure felt like I did.
The crypto industry is changing so rapidly that the only way to keep up with the latest developments and most profitable opportunities is by attending crypto conferences. Even if they are halfway across the world.
Case in point: I just returned from the Beyond Blocks Summit in Bangkok, Thailand, and it may have been the two most informative — and potentially most profitable — days in my three-decade investment life.
Just like any other conference, attendees are required to wear a large badge around their necks to gain admission. That badge included my name and company affiliation, Weiss Ratings.
It’s quite natural to peek at everybody’s badge. And dozens of people stopped in their tracks when they saw Weiss Ratings.
Many shot a frown at me, and a few didn’t hesitate to tell me what they thought of the Weiss Cryptocurrency Ratings.
“You don’t know $%&#; Cardano should be a ‘A.‘”
“A ‘C+’ for Ethereum! Seriously?”
“You don’t know it, but you guys are the laughingstock of the crypto world.“
And those were some of the nicer comments!
To be honest, I was expecting that type of reaction. After all, not a single cryptocurrency receives an “A” rating from us at this time. None.
Heck, out of over 2,500 different coins, we’ve only given a single “A” rating, and that was to NEO earlier this year. And that wasn’t even our highest (“A+”) grade.
Crypto superfans get pretty bummed when their favorite digital currencies don’t get a lot of love from our model. But bear in mind, we update our data every day. And those ratings can change at any time … up OR down.
We grade coins on four criteria. While many cryptocurrencies have excellent technology ratings, most fail to receive our top grade because of their high risk.
1. Our technology model focuses on the blockchain technology to evaluate its potential for performance: What kind of speeds could it run at? How would it scale? How advanced is its governance? How does it deal with energy consumption? Can smart contracts be used on the ledger? How flexibly can it be upgraded? What other unique features does it have?
2. Our adoption model measures performance in the real world. What are the actual transaction speeds and costs? How decentralized is the network? How big is the developer community? How popular is the project? Are people using it? And much more.
3. Our investment risk model evaluates volatility and downside price risk. Essentially, it seeks to answer the question: “How much money can I lose?” And …
4. Our investment reward model deals with the upside potential — “How much money can I make?”
The angst I encountered at the conference was largely because of the steep drop in crypto prices. Most crypto coins have lost 70%, 80% or even more of their value this year.
Maybe that is why a couple of conference attendees arranged the following post-conference meetup:
The biggest thing I took away from this crypto conference is where attendees and presenters think the biggest bucks in crypto will be made. And that is from blockchain, the cryptographic infrastructure underlying cryptocurrencies.
Make no mistake, the cryptocurrencies themselves still offer plenty of profit potential as well. Dr. Martin Weiss is putting his own money at work in the cryptos with the highest Weiss ratings, and there’s still time for you to get on board and do the same.
As for the technology that underlies these cryptos, blockchain, it has many more uses than “just” cryptocurrencies. Blockchain is going to find its way into the global supply chain and financial infrastructure because it systematically removes the middlemen and third-party verification agents.
Bottom line: Blockchain is going to make armies of accountants, lawyers, custodians, transfer agents and back-office personnel obsolete. IDC, a global information technology research firm, expects blockchain to become a $7 trillion industry by 2022.
Best of all, many of the big blockchain winners are already publicly traded stocks, which means that you can invest in them easily.