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<p>[QUOTE="geekpryde, post: 4610147, member: 36248"]Yes and No. What you are saying about people's scores changing due to their balances, accounts, hard pulls, defaults, age of accounts, etc is true. However, what I was trying to say in my post, and maybe I didn't explain it well enough, is that what the Algorithm is looking at, how it weights those things, what it cares about and doesn't care about, HAS changed and will continue to change regardless of details about a particular person. </p><p><br /></p><p>FICO introduces an entirely new scoring algorithm (AKA their grading "standards") every so many years. Normal people get their FICO score and think a FICO is a FICO is a FICO, and that's NOT true. There is the FICO-2008 standard, the FICO-2014 standard, the FICO-2020 Standard and so on. In fact, while some businesses quickly adopt the new algorithm, FICO 10, many others will continue to use the older algorithm for many more years! Meaning, you could be shopping for a car loan, and one place pulls Experian FICO 10 and another bank on the same day, pulls an Experian FICO 9 (circa 2014), and there are even banks still using FICO 8 to this day! You can have two wildly different scores on the same day, with the same exact credit history! Then you mix in the fact that their are "industry" based specific fico scores, depending on what type of lender you are, well, then you can go right ahead a triple-quadruple the number of flavors of scoring. It's enough to make a person a bit mental, LOL. Luckily with coins, there are a lot less standards to keep track of, however, the coins industry is far more opaque about them.</p><p><br /></p><p>Sorry to bog down this post with this FICO score nonsense, but maybe it helps someone and also my original goal was to use the analogy to compare to coins and how rock solid "standards" can and do change, even if someone things there is only a single standard in play, and that it never changes with time.</p><p><br /></p><p>I'll stop blathering about now. Carry on.[/QUOTE]</p><p><br /></p>
[QUOTE="geekpryde, post: 4610147, member: 36248"]Yes and No. What you are saying about people's scores changing due to their balances, accounts, hard pulls, defaults, age of accounts, etc is true. However, what I was trying to say in my post, and maybe I didn't explain it well enough, is that what the Algorithm is looking at, how it weights those things, what it cares about and doesn't care about, HAS changed and will continue to change regardless of details about a particular person. FICO introduces an entirely new scoring algorithm (AKA their grading "standards") every so many years. Normal people get their FICO score and think a FICO is a FICO is a FICO, and that's NOT true. There is the FICO-2008 standard, the FICO-2014 standard, the FICO-2020 Standard and so on. In fact, while some businesses quickly adopt the new algorithm, FICO 10, many others will continue to use the older algorithm for many more years! Meaning, you could be shopping for a car loan, and one place pulls Experian FICO 10 and another bank on the same day, pulls an Experian FICO 9 (circa 2014), and there are even banks still using FICO 8 to this day! You can have two wildly different scores on the same day, with the same exact credit history! Then you mix in the fact that their are "industry" based specific fico scores, depending on what type of lender you are, well, then you can go right ahead a triple-quadruple the number of flavors of scoring. It's enough to make a person a bit mental, LOL. Luckily with coins, there are a lot less standards to keep track of, however, the coins industry is far more opaque about them. Sorry to bog down this post with this FICO score nonsense, but maybe it helps someone and also my original goal was to use the analogy to compare to coins and how rock solid "standards" can and do change, even if someone things there is only a single standard in play, and that it never changes with time. I'll stop blathering about now. Carry on.[/QUOTE]
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Same coin, $17,000 difference in holders
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