#4 on the Franchise 500: How Sonic Drive-In Uses Artificial Intelligence to Improve Customer Service – Entrepreneur

The #4 company on our Franchise 500 list is learning from its customers -- and serving up exactly what they want.

January14, 20202 min read

This story appears in the January 2020 issue ofEntrepreneur. Subscribe

On November 20, 1953, pilot Scott Crossfield took a Douglas Aircraft Skyrocket up over the dusty California desert, blasting through the sound barrier and setting a world record that helped usher in the space age. That same year, the first Sonic Drive-In opened in Shawnee, Okla. Its slogan: Service at the Speed of Sound.

Today, nearly seven decades and 3,600 restaurants later, the company is sonically booming in another direction -- this time, into the era of machine learning. Weve heard from our guests, says Sonic president Claudia San Pedro. They still want us to be fast, but they also want their favorite customized food.

So through a partnership with Mastercard, Sonic is piloting an AI-powered car-side menu board that updates its offering in real time based on the customer, weather, and time of day. Fueled in part by the robust analytics Sonic gathers from its new order-ahead app, the restaurants offerings will grow increasingly personalized, with the goal of creating a tailored experience thats unrivaled in fast food.

But the upward trajectory hasnt been without hiccups.In 2018, Sonics incomerose from $63.7 million to$71.2 million, yet the restaurant saw overall revenuedrop. It was then acquired by Inspire Brands in late 2018 for $2.3 billion, meaning it now shares a corporate parent with the likes of Arbys and Buffalo Wild Wings. The new ownership could be a boon to franchisees: System-wide sales are moving upward, and the partnership provided improved access to delivery services like DoorDash and Uber Eats.

Related:3 Surprising Ways That Video Game Companies Leverage AI

Even as Sonics menu continues to rotate in creations like deep-fried Oreos la Mode and Red Bull Slush, the restaurant isnt sitting on its laurels. In August, it announced that it was using a new creative agency, Mother, and it promised to deliver a revamped brand logo in 2020.

So what can we expect? Something Googie? A rocket? A Footlong Coney dressed in a space suit? Its a little bit of making sure we are grounded in our roots, but with a much more forward-looking view, says San Pedro. Thats all Im going to say.

Check out our complete Franchise 500 rankings, or view more stories here.

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#4 on the Franchise 500: How Sonic Drive-In Uses Artificial Intelligence to Improve Customer Service - Entrepreneur

WikiLeaks founder Assange needs more time to speak to lawyer, court told – Reuters

LONDON (Reuters) - WikiLeaks founder Julian Assange is not getting the time he needs with his legal team to discuss his fight against extradition to the United States, causing delays to the case, his lawyer told a British court on Monday.

WikiLeaks' founder Julian Assange leaves Westminster Magistrates Court in London, Britain January 13, 2020. REUTERS/Simon Dawson

After skipping bail in Britain, Assange spent seven years holed up in Ecuadors embassy in London before he was dragged out by police in April last year.

He is being held in a British jail pending the U.S. extradition case, having served a sentence for skipping bail.

The United States wants him extradited to face 18 charges including conspiring to hack government computers and violating an espionage law. He could spend decades in prison if convicted.

The 48-year-old Australian appeared for Mondays hearing at Westminster Magistrates Court wearing glasses and a dark blazer over a light top. He spoke only to confirm his name and date of birth to the judge and saluted his supporters in the public gallery at the beginning and end of the hearing.

Assanges lawyer Gareth Peirce said difficulty in getting time with Assange had delayed the case, telling the court: This slippage in the timetable is extremely worrying.

He fled to Ecuadors embassy in 2012 to avoid being sent to Sweden to face sex crimes accusations that were dropped last year.

He says the U.S. charges against him are a political attempt to silence journalists and publishers, and that the Swedish allegations were part of a plot to catch him.

Assange made global headlines in early 2010 when WikiLeaks published a classified U.S. military video showing a 2007 attack by Apache helicopters in Baghdad that killed a dozen people, including two Reuters news staff.

Judge Vanessa Baraitser said Assange could have time on Monday to speak to his lawyer and appear in court again later in the day. In that second sitting, Peirce said that she had only had an hour to speak to Assange.

Assanges next hearing is scheduled for Jan. 23. He is due to appear via video link from Londons Belmarsh prison.

Full extradition proceedings are expected to commence in February.

Reporting by Elizabeth Howcroft; Writing by Alistair Smout; Editing by Catherine Evans and Philippa Fletcher

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WikiLeaks founder Assange needs more time to speak to lawyer, court told - Reuters

CNN Reporter Who Got Shredded by GOP Senator Today Peddled One of the Network’s Biggest Trump-Russia Collusion Screw-Ups – Townhall

Sen. Martha McSally (R-AZ) refused to answer a question from CNN reporter Manu Raju. She blew past him, called him a liberal hack, and now everyone is aghast that someone could do such a thing to a reporter from one of the most anti-Trump networks in the country. Before CNN starts digging trenches and loading tear gas for their reporting staff who can do no wrong in their eyes, lets circle back to December of 2017, when Raju reported that Donald Trump, Jr. and other top campaign officials, including then-candidate Donald Trump, had super-secret access to the trove of emails that WikiLeaks had in their possession. Some donor named Michael Erickson emailed the access code. Gasp! Team Trump knew about the DNC emails before they were made public. Talk about a bombshell, except that it wasnt. CNN couldnt take two seconds to read the time stamp on the email. If they did, they would have seen that the emails from Wikileaks had already been made public when this donor email was sent. And for hours, the fake news story was blasted all over the network, but its okay folks. The anonymous source was determined that his or her intentions were not meant to deceive. What idiots do they have working there? Maybe the finest in liberal America.

Lets go to the story, which has now been corrected:

Candidate Donald Trump, his son Donald Trump Jr. and others in the Trump Organization received an email in September 2016 offering a decryption key and website address for hacked WikiLeaks documents, according to an email provided to congressional investigators.

The September 14 email was sent during the final stretch of the 2016 presidential race.

CNN originally reported the email was released September 4 -- 10 days earlier -- based on accounts from two sources who had seen the email. The new details appear to show that the sender was relying on publicly available information. The new information indicates that the communication is less significant than CNN initially reported.

Oh, the memories with this fake news story:

Yeah, but prior to this correction, it was The Washington Postcoming in and doing the clean-up work for this mess:

A 2016 email sent to candidate Donald Trump and top aides pointed the campaign to hacked documents from the Democratic National Committee that had already been made public by the group WikiLeaks a day earlier.

The email sent the afternoon of Sept. 14, 2016 noted that "Wikileaks has uploaded another (huge 678 mb) archive of files from the DNC" and included a link and a "decryption key," according to a copy obtained by The Washington Post.

The writer, who said his name was Michael J. Erickson and described himself as the president of an aviation management company, sent the message to the then-Republican nominee as well as his eldest son, Donald Trump Jr., and other top advisers.

The day before, WikiLeaks had tweeted links to what the group said was 678.4 megabytes of DNC documents.

Raju eventually admitted the whole story was garbage on-air. So, yeahCNNs reporter might have been at the receiving end of some harsh treatment today by a Republican Senator. Hell be fine. And yes, he has confronted Ilhan Omar and other clowns on the Left, but that doesnt negate the fact that he and this network were part of this epic fail. In fact, CNN, in general, is just a hot dumpster fire when it comes to covering this president. I will say so again: when you cant even cover the feeding of koi fisha simple photo opbetween Trump and Japanese Prime Minister Shinzo Abe accurately, your operation has issues.

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CNN Reporter Who Got Shredded by GOP Senator Today Peddled One of the Network's Biggest Trump-Russia Collusion Screw-Ups - Townhall

The OPCW Douma Leaks Part 1: We Need To Talk About Alex – bellingcat – bellingcat

Executive Summary

Over the past year the OPCW has dealt with multiple information leaks, all related to its investigation into the chemical attack on Douma, Syria in April 2018. Two employees have been associated with these leaks: Ian Henderson, who questioned the mechanics of the two cylinders falling from height, and an employee who has so far remained anonymous, who goes by the pseudonym Alex. In this article, we will examine Alexs claims and the related documents leaked by WikiLeaks. In later articles, we will examine Hendersons engineering report and other aspects of the case.

It should be noted that the events around the OPCW cannot be understood without the context of the pressure it has faced, primarily from the Russian Federation. In November 2017, the Russian Federation vetoed the extension of the Joint Investigative Mechanism (JIM), a joint UN-OPCW organisation which had a mandate to assign blame for chemical attacks. The JIM had carried out multiple investigations which found the Syrian government had used both chlorine and Sarin as chemical weapons, including the attack on Khan Sheikhoun, which killed scores of civilians. It also identified that ISIS had used sulfur mustard agent.

Several days after the attack in Douma, the Russian Federation deployed a GRU team to the Hague, which then attempted to hack into the WiFi network of the OPCW. It is possible there have been further attacks that we are not aware of. This of course raises the prospect that Alex is not in fact a real person, and these leaks are simply the Russian government using WikiLeaks to dump documents that theyve hacked, in a similar fashion to the DNC leaks. However, multiple people claim to have met and talked to Alex, and such a scenario therefore seems very unlikely. In either case, the documents presented by WikiLeaks do appear to be genuine.

Chemical Weapons In SyriaThese documents have been used by some actors to question the conclusions of the OPCW. Indeed, if one was to read the Mail on Sunday article, one would believe that this is a similar situation to the build up of the invasion of Iraq in 2003, with a sexed-up dossier used as evidence to justify said invasion.

To be clear, it is not. Chemical weapons have been used throughout the Syrian conflict, primarily by the Syrian government. Multiple independent and reputable investigations by various organisations, including the OPCW, the Independent International Commission of Inquiry on the Syrian Arab Republic, Human Rights Watch, Amnesty International and many others have been carried out. They all agree that the primary user of chlorine and the only user of Sarin has been the Syrian government. This government has used both these agents repeatedly over this conflict. Despite allegations against other parties to the conflict, the only other positively identified user of chemical weapons has been the Islamic State.

Chemical weapon attacks identified by the UNs Independent International Commission of Inquiry on the Syrian Arab Republic

In the case of chlorine, attacks became so common in some areas that the munition remnants were simply collected in piles of munitions outside of town. The GPPi has collated information on credible reports of chlorine attacks here. They run into hundreds of examples.

Documents And ChronologyMany of the accusations against the OPCW have relied on readers not fully understanding the context of chemical weapons use in Syria. These accusations also fail to properly clarify what part of the investigation Alex was actually complaining about. The implication of the Mail on Sunday coverage is that Alexs complaints reflect upon the final FFM Douma report. The Mail on Sunday only mentions a fourth report in passing.

This fourth report, which the Mail on Sunday mentioned once in its entire piece, is in fact the final and authoritative report. Alexs complaints, and the leaked documents which have been used to support them, were not primarily about this final report. Alexs original leaked email, is actually about various drafts of the interim report. These drafts were never intended to be the final report, because there was still so much left to investigate. Although Alex complained about the final report in a later interview, no internal FFM emails have been released in support of that statement.

The Mail on Sunday also caused confusion by referring to these reports as the third or fourth report. This is misleading. There are only two OPCW reports: the interim and final reports. The other two were draft documents. In the same way we would not ask our readers to judge this Bellingcat article on the basis of its drafts, judging the OPCW on the basis of its draft documents is at best shortsighted, at worst intentionally misleading.

In an attempt to remedy this we have provided a list of leaked documents in chronological order, including when they were drafted or published, if they were published at all. We have also included the officially published interim and final reports.

What Is The Basis Of Alexs Complaint?

The key point to bear in mind when examining Alexs initial claims is that they are primarily focused on a set of two draft reports and an interim report that were drafted or published in late June and early July 2018 (entries 5, 6, and 7 in the above table).

The first draft report, also referred to as the inspectors report, is implied to have been drafted primarily by Alex, while the second draft was a management re-draft, also referred to as the redacted report. Ultimately the head of the FFM wrote a further redraft which was published as the interim report. This interim report made no firm conclusion about the use of chlorine gas as a weapon in Douma.

This interim report was never meant to be the definitive report, and both the draft reports and the interim report explicitly note that further investigations are required. The final OPCW Douma report was completed 8 months and many other investigations later. Indeed the final report appears to have addressed, by either accepting or providing further information, many or all of Alexs points.

It should also be borne in mind that at the time of writing, WikiLeaks had not yet released any internal FFM emails (as opposed to general OPCW emails) from after August 30, 2018. This leaves a 6 month gap where a huge amount of investigation, including a further deployment by the FFM, was conducted. It seems either WikiLeaks does not have emails from this period of time, calling into question how long Alex actually spent in the FFM, or the emails during this period do not support Alexs view.

There is also, of course, the possibility that WikiLeaks will release these emails at a later date, however they remain an intensely opaque organisation and do not seem to be open about what material they have actually obtained. This makes it difficult to establish the truth of the matter, as WikiLeaks appears to be selectively releasing documents. Needless to say, we do not believe this furthers the cause of transparency or accountability.

Timeline of work from the final report. Note the work completed (in orange) that happened after the publication of the latest FFM email published by Wikileaks.

The Chemistry

Not only are Alexs claims missing a huge amount of context, but some of them, including his technical analysis, are not as strong as presented by WikiLeaks and others. Our article, Chlorines Unique Fingerprints, goes through these arguments in detail, but we will examine some of the essential points below.

Much has been made of Alex stating that there were only trace quantities of chlorinated organic derivatives discovered, that could have come from a variety of other sources. The FFM accounted for this and deliberately gathered control samples in order to control for this. Indeed, trace quantities are in fact consistent with the amounts that would be expected from this kind of event.

Extract from final FFM report referring to molecular chlorine (Cl2)

One narrative that has taken on particular prominence is the idea that all of the identified chemicals can be found in household cleaning products. As far as were aware, this narrative was first explicitly mentioned by the Moon of Alabama, a conspiracy blog that has not previously demonstrated any kind of chemistry expertise. Previous posts by b on Moon of Alabama about the subject of Sarin are extremely simplistic.

This narrative is obviously flawed. Alex implied that some of the compounds discovered can be found in household chlorine-based bleach. However, these were found in samples taken at both Location 2 and 4, on multiple levels and on the adjacent street. Although it is possible that the inhabitants of Location 2 and 4 were in the habit of cleaning virtually everything in their buildings with bleach, including the walls and rubble in the street, it seems unlikely.

There is also the fact that the highest concentration of chlorinated organic compounds were found in a slat of wood underneath the cylinder on the bed at Location 4. This is the same kind of cylinder, with the same kind of unique modifications, which multiple independent investigations, including by the OPCW, have identified as being used on a regular basis in chlorine attacks. This is entirely unsurprising if the cylinder was indeed the source of chlorine gas.

Another indicator that Alex doesnt even try to grapple with is the corrosion seen throughout both Location 2 and 4. When metal comes into contact with chlorine gas, it will start to corrode rapidly. Accounts from the First World War describe belt buckles turning black within minutes of chlorine attacks. Extensive corrosion was seen and noted by the FFM.

Although the FFM noted that they could not be sure that this corrosion was not related to natural factors, we strongly believe it is related to the contents of the cylinders. Immediately after the attacks, the metal frame around the munition at Location 4 was relatively clean and did not show any clear corrosion (the metal frame at Location 2 was removed by the time the OPCW inspectors arrived). However, by the time the inspectors visited 18 days after the attack, the frame at Location 4 had become heavily corroded. It is clear that these munitions were exposed to something which caused rapid corrosion between the time of the attack and the visit of the FFM.

1: Still from video by Forensic Architecture, 2: Still from video by Forensic Architecture, 3: Image taken on 8th or 9th April, 4: image from Russian news report aired on 26th April, 5: image of cylinder in FFM final report, 6: image of cylinder in Final FFM report after tagging, indicating it was taken on the 3rd June 2018.

Note the progression of corrosion of the framework around the cylinder in the images above. Although dust in the earlier photos obscures some details, it is clear this framework underwent significant corrosion between the initial and final images.

Finally, it should also be noted that there is no single chemical or reaction that indicates the presence of chlorine gas. It is a combination of chemicals and effects, such as rapid corrosion, seen throughout both locations that undermines the notion that any other substance, in isolation, was responsible for their presence at Douma. A person throwing bleach around would not have achieved all these findings and effects. A far more detailed examination of this subject can be read here.

Toxicology: Symptoms

One of the documents that WikiLeaks has released is the minutes of a meeting with toxicologists from a State Party to the OPCW. The stated conclusion of this meeting was that the symptoms observed were inconsistent with chlorine, primarily due to the onset of frothing in a time period of 3-4 hours.

It should be noted that pulmonary edema, which can cause frothing, is a recorded symptom of chlorine gas inhalation. Events similar to Douma are extremely rare, but this graphic image from an industrial chlorine accident in China clearly shows similar frothing symptoms. Compare it with these graphic images of the victims at Douma.

What these toxicologists appear to believe is that the onset of that frothing was too rapid (3-4 hours) to be consistent with chlorine. The toxicologists also considered if there was the possibility that a different agent could have been used, but could not clearly identify alternative agents.

Although it is important to emphasise we are not toxicologists, we found it strange that its possible to find multiple accounts of chlorine gas causing relatively rapid frothing primarily from the First World War. Although these accounts are old, they do describe situations where multiple people were subjected to extremely high concentrations of chlorine.

One medical journal we found from the First World War examines a gas attack in detail and notes the onset of frothing within about 90 minutes. The author of this book, the Colonel-Commandant of the Royal Army Medical Corps, in fact uses this frothing as an indicator the gas they were attacked by was primarily made up of chlorine rather than phosgene. The implication is, of course, that relatively rapid frothing is a known symptom of chlorine gas.

Extract from medical account of gas attack (p. 282)

Indeed, we also found recent academic references to Chlorine causing the rapid onset of pulmonary edema. This 2019 article on Chlorine Gas Toxicity stated Pulmonary edema appears to be the most common cause of morbidity for moderate-to-severe exposures. This usually occurs within 2 to 4 hours of exposure to moderate chlorine concentration (25 to 50 ppm) or 30 to 60 minutes of severe exposure (greater than 50 ppm). We have previously demonstrated that the concentration of chlorine within this building was likely to be well over 50 ppm.

We asked Professor Paul Blanc, who has extensive expertise regarding the adverse effects of chlorine gas on the human respiratory system, about the inconsistency between the conclusion of the toxicologists and the established manifestations of chlorine gas inhalation.

Professor Blanc was incredulous at the stated conclusions of the toxicologists as cited in these minutes. He noted that the onset of pulmonary edema can be quick, and can easily occur within 2-4 hours. In very heavy exposure to chlorine gas, defined by toxicologists as immediately dangerous to life or health, abrupt onset of respiratory distress would not be surprising, indeed, it would be expected. Although there are war gases with more delayed onset of symptoms (phosgene is classic), the hallmark of chlorine is its rapidity of action.

The first draft report also contained an error related to the symptoms seen in open source material. It noted that usually froth, when produced by choking agents, is usually pinkish in colour, but that the froth produced by the victims was white or cream-coloured.

Extract from first draft report

Not only have we shown that white froth does appears to have been a symptom in previous chlorine events, there are also images which clearly show victims with pinkish or brownish secretions. This is a detail which was noted by the FFM team and included in the final report.

Images of the victims depicting brownish or dark secretions. Extremely graphic sources: 1, 2, 3, 4, 5, 6

Toxicology: Actions Of The Victims

There is of course the possibility the toxicologists were not fully aware of the situation of Location 2 in Douma. For example, the experts opinion that it was:

highly unlikely that victims would have gathered in piles at the center of the respective apartments at such a short distance from an escape from any toxic chlorine gas to cleaner air.

This assumption is indicative of a lack of understanding of the context at Location 2 and of the Syrian conflict in general. Chemical attacks in Syria are so commonplace that people already know what to do in the event of one: head upstairs or to higher ground. Interviews conducted by the FFM demonstrate this very clearly:

Heading upstairs or to higher ground in an attempt to avoid chemical attacks has been recorded in FFM reports from incidents as early as 2014.

Extract from FFM report examining alleged chemical attack in 2014.

You can even see people being told to move upstairs and close the doors in this video depicting a chlorine attack in Aleppo.

It should be noted that an inverse form of survivorship bias is displayed here. In the final report, it was noted that:

Some people did move away from the source of the chemical, and survived as a result. Others did not. This is not inconsistent: considering the chaos of that night, with extremely heavy shelling and multiple reports of chemical attacks, staying put would not necessarily have been an irrational choice. It would have been far from clear to the victims where the source of the chlorine gas actually was.

None of the victims could have known a chlorine cylinder had actually landed on the building above them and was discharging its contents into the building they were in. Indeed, those casualties found on higher levels likely made the most rational choice in the circumstances, however, it was one that led them to their deaths.This appears to be confirmed by an interview with a witness. The witness claims to have been in the building and to have lost relatives to this attack. It should be noted that although he blames the rebels, he doesnt elucidate how they carried out the attack, only noting the building was hit. As the journalist who interviewed him notes, blaming the Syrian government for a chemical attack whilst in government held territory would probably not be a wise decision. His statement deserves to be read in full:I sat in the basement when it happened; the house was hit around seven in the evening. We ran out, and women and children ran into the house. They didnt know the house had been hit from above and was filled with gas. The one who ran into the house died immediately. I ran out, feeling dizzy.

For these reasons, questions about why victims did not immediately move to cleaner air display a lack of understanding of chemical weapons use in Syria and the context of the attack in Douma that night. This lack of context may not be the fault of the toxicologists nor those members of the OPCW who spoke to them. The email chain discussing these toxicology minutes notes that the toxicologists insight was (and had to remain) limited. Considering the sensitivity of some of the information the FFM were dealing with, this is entirely understandable.

It should be noted that this single, one hour, meeting with toxicologists from a State Party should not be used as the basis for understanding the attack in Douma. As is noted in other leaks, these toxicologists had limited insight. There were multiple further toxicology consultations in both September and October, after the date of this specific meeting. Indeed, whoever drafted and sent the minutes for this meeting only did so on the 20th August 2018, two-and-a-half months after the meeting itself. Once again, Alex has asked us to draw conclusions with a very limited contextual picture.

Alexs Misleading Statements

Finally, there is the question of Alexs trustworthiness. So far all his communications have been through third parties, such as interviews. His true identity is not currently public knowledge. Brian Whitaker examined Alexs statements and noticed that he has made misleading claims about the contents of the leaked material.

For example, Alex claimed that the First Draft report said that there had been a non chemical-related event. This is not true. As Whitaker notes, the First Draft did not say this: it stated that a non chemical-related incident in Douma was one of the possibilities considered, but that there was insufficient evidence at this time to be able to formulate an authoritative conclusion. Alex also claimed that the report stated that the signs and symptoms of victims were not consistent with poisoning from chlorine, however the report only stated that some of the signs and symptoms were not consistent.

Alex also makes a great deal of Ian Henderson having been a member of the FFM. In his email on the 20th May 2019, Alex said a member of the FFM team has been suspended from his post and escorted from the OPCW building.

However, WikiLeaks also leaked an email chain regarding Hendersons report showing in no uncertain terms that the OPCW did not regard Henderson as being part of the FFM. Bear in mind that at the time this email was written, Sebastien Braha, the Chief of Cabinet to the Director General of the OPCW, had no reason to believe this email would ever be public, and so no incentive to obfuscate Hendersons status. We will examine Hendersons status in more detail in our next article.

Conclusion

Ultimately, every time WikiLeaks has released documents, they have provided material which undermines Alexs claims. Close examination of the contents of these documents show that Alexs statement cannot be taken at face value and must be thoroughly checked. He has clearly misled people over the contents of the documents, the status of Henderson, and the strength of the evidence supporting his conclusions. Questions raised about the chemistry, toxicology and actions of victims in this attack have been thoroughly answered.

It is important to note that the selective releases from WikiLeaks so far do not cover the 6 months period during which a large amount of further investigation was carried out, including further consultations with toxicologists. Breathless headlines from the Mail on Sunday, the opinion section of The Independent, and from WikiLeaks themselves deliberately obscure this.

It is no wonder WikiLeaks seem reticent to leak the whole batch of documents at once: it appears likely that further information will continue to undermine their narrative.

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The OPCW Douma Leaks Part 1: We Need To Talk About Alex - bellingcat - bellingcat

How an Ethereum Offshoot Became a Top 10 Cryptocurrency After an Abrupt 35% Rally – newsBTC

The top ten cryptocurrencies by market cap represent the crme de la crme of the cryptocurrency space, and the altcoins listed alongside Bitcoin and Ethereum there are often considered some of the best and safest investments in the space.

However, one Ethereum offshoot just exploded into the top ten cryptocurrencies by market cap after a sudden, 35% rally, shaking up the crypto market and causing analysts to scratch their heads as to why the sudden surge.

Visit CoinMarketCap and look at the historical snapshots of the top ten cryptocurrencies by market cap throughout the years and months of the past, and youll see many altcoins popping in and out of that list that you may not recognize.

Related Reading | Ready for Liftoff: Altcoin Market Cap Breaks Out of Downtrend

While the list has been regularly dominated by Ripple, Ethereum, and Litecoin, the rest of the top ten regularly fluctuates, depending on which coin is currently experiencing a lot of hype.

But in the latest case of a new crypto asset entering the top ten and with its entry, pushes out another crypto asset, there doesnt appear to be any sudden hype or unusual levels of buzz causing the surge.

Ethereum Classic, the OG Ethereum protocol, has surged over 35% on the day, pushing the altcoin into the top ten cryptocurrencies by market cap.

While its certainly notable that the altcoin has enjoyed an over 35% surge on the day, the real story is that Ethereum Classic is up over 250% over the last 30 days, helping propel it into the top ten cryptocurrencies by market cap, and pushing out Tron, Stellar, and Monero.

Ethereum Classic, like many other altcoins and even the total crypto market cap sans Bitcoin, have all broken out from local downtrend resistance, causing widespread FOMO and skyrocketing cryptocurrency prices.

In just 30 days, the total altcoin market has added over $25 billion in value.

With such massive gains, these assets are bound to correct and correct hard when it happens. Parabolic rallies, as was seen during the crypto hype bubble, often lead to as much as 80% corrections or more. The last major correction wiped out as much as 99% of the value of most altcoins, however, that correction was coming off of multiple thousand percent gains across the board.

Related Reading | Bitcoin Dominance Could Be Poised for Extended Downtrend As Alts Rally

This latest rally wont suffer as deep a correction, but a pullback is almost a certainty. As the days go by, the breakout from downtrend resistance is looking more and more like the bear market could be coming to an end for altcoins, which could lead to another alt season where the asset class outperforms Bitcoin by a wide margin.

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How an Ethereum Offshoot Became a Top 10 Cryptocurrency After an Abrupt 35% Rally - newsBTC

Thailand launches probe into $2.46M cryptocurrency pyramid scam – The Next Web

Cryptocurrency investors who fell for an alleged pyramid scheme that resulted in losses of more than$2.46 million (THB75 million) have asked Thailands Department of Special Investigation (DSI) to investigate.

According to the Bangkok Post, the cryptocurrency project, known as Khung Nong Cryptocurrency Trading, became famous in parts of the country in 2018.

The scheme allegedly promised maximum returns of 8 percent per week, attracting individuals fromKrabi, Trang, Yala, Pattani, and Narathiwat who sold their assets including cars, businesses, and land in order to invest.

[Read:Thailands oldest bank hints at new blockchain app powered by Ripple]

Human rights activistPhadungsak Tienpairoj, who has referred 20 victims to the DSI, has now reportedly taken up the case and prompted the department to investigate alongside law enforcement in the Krabi province.

Thailand made headlines in November 2018 as it prepared to launch its first regulated initial coin offering (ICO) portal in a bid to reinforce its tough stance on cryptocurrency and blockchain.

Although todays news wont bring total solace to victims, its certainly a step in the right direction if theyre ever to recover the lost funds.

Published January 17, 2020 14:30 UTC

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Thailand launches probe into $2.46M cryptocurrency pyramid scam - The Next Web

The Bull Case For Bitcoin In 2020 – Forbes

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Bitcoin Suisse CEO Arthur Vayloyan was interviewed by CNN Swizterland on Monday, and during his appearance on the network, Vayloyan discussed various reasons to be excited about Bitcoin and other crypto assets in 2020. While Vayloyan did not offer a specific Bitcoin price prediction for the end of the year, the Bitcoin Suisse CEO offered key developments to watch for in the crypto market.

According to Vayloyan, fundamental improvements have been been continuing behind the scenes despite Bitcoins price drop over the past six months.

A point that Vayloyan hit on multiple times during his interview is Bitcoins upcoming halving event, which is expected to take place in May. A halving is a scheduled change to Bitcoins issuance rate that is programmed to take place on the network every four years. This year, the number of new Bitcoin generated in every block will drop from 12.5 to 6.25.

After referring to Bitcoin as the mother of all cryptos, Vayloyan went on to explain how halvings, which have only happened twice before in Bitcoins history, have affected the price in the past.

When you look back and take history a little bit as a prediction or at least an idea of what could happen, it so happens that price movements are actually quite positive in those years or in the year that followed, said Vayloyan.

There has been an intense debate between cryptocurrency pundits over whether the halving is already priced into the Bitcoin market. In terms of his view on what will happen, Vayloyan stated, It will be interesting, but I would say the general rule is it will go up.

Bitcoins halvings are part of the systems predictable monetary policy, which is a key part of the comparisons with gold that are often made with the crypto asset. Notably, data from 2019 indicates Bitcoin recently took a major step towards turning this comparison into more than just a meme.

Another key point Vayloyan brought up during his appearance on CNN Switzerland was that the Bitcoin and crypto market has become much more mature over the past decade.

Crypto assets, in general, are here to stay, said Vayloyan. Why am I so sure about this? Because when you look at the last ten years and you take it forward, we have seen a major change in the participants. Before, it was the interested technical people with a high affinity to something new. But more and more we see now institutionals coming in be it the banks, be it the central banks even. And they look at the technical opportunity that stands behind the crypto technology.

Vayloyan later reiterated this point about the mature Bitcoin market.

I think, after ten years, its fair to say that it has reached a fair level of maturity, said Vayloyan. And maybe the best gauge I can give: looking at the institutionals those who have assets from their clients they have an extra fiduciary responsibility to look at it. And they come in and look at it and do things.

Earlier this week, a survey of financial advisors shed some light on why some of them are adding Bitcoin and other cryptocurrencies to client portfolios.

When asked for some key talking points for the crypto asset market in 2020, Vayloyan provided three answers.

Vayloyan was also asked for his thoughts on Facebooks Libra announcement from last year. While Vayloyan is cautious on whether the project will ultimately succeed in its current form, he also pointed out how the announcement was a positive moment for the cryptocurrency space.

I was extremely excited when Libra came on the market space because every board member in the world in the financial arena woke up when it came to cryptocurrencies, said Vayloyan.

Facebooks Libra announcement ended up being a learning experience for many people who did not understand the differences between Bitcoin and traditional online banking, and its possible a similar phenomenon could occur when central banks eventually get into the digital currency game.

Another industry executive has been more brazen than Vayloyan and outright predicted a $50,000 Bitcoin price for 2020. Additionally, ETF Trends CEO Tom Lydon has pegged the chances of a Bitcoin ETF approval for this year at 60%.

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The Bull Case For Bitcoin In 2020 - Forbes

Will The Bitcoin Price Get Demolished By Central Bank-Issued Cryptos? – Forbes

A man pushes a bicycle past the People's Bank of China (PBOC) headquarters in Beijing, China.

In terms of arguments against the long-term price appreciation of the Bitcoin price, one of the most commonly held beliefs is that something better will eventually come along and replace the worlds first major cryptocurrency. A more specific version of this argument comes in the form of Bitcoin eventually being overtaken by a new digital currency owned and operated by a government or corporation.

However, this theory is based on a complete misunderstanding of why Bitcoin is useful in the first place. In reality, central bank-issued digital currencies, such as the project being worked on in China, would only further solidify Bitcoins role as an uncontrolled, apolitical form of money in a digital age.

It is sometimes easier to understand Bitcoins value proposition when the current move towards a cashless society is extrapolated out another ten or twenty years down the road. If governments are in complete control of the worlds financial system at that time, then the situation looks rather grim, with it becoming much easier to track all transactions, inflate the money supply, seize savings, and strengthen other forms of financial control over the general public.

This is why it is necessary for something like Bitcoin to exist. And the utility of Bitcoin as a difficult to seize, censor, or inflate asset where each individual is in complete control of their money becomes much more apparent in this dystopian scenario.

Indeed, a recent report indicates Bitcoins lack of correlation to traditional financial assets as a key driving force behind financial advisors adding the crypto asset to their clients portfolios. Data from 2019 appears to back this thesis of Bitcoins growing utility as a digital gold of sorts.

In terms of competition from other cryptocurrencies meant to be decentralized, many investors think the competition to become the major digital store of value is already over. The altcoin markets severely poor performance against Bitcoin over the past couple of years lends support to this thesis. Additionally, the further development of innovations like sidechains could make matters even worse for alternative crypto assets like Ether and Ripples XRP.

Of course, Bitcoin is far from perfect as it exists today. For example, one large miner recently warned that better privacy is needed in the cryptocurrency network.

The idea that central banked-issued digital currencies would help make the case for Bitcoin is not completely theoretical, as a similar phenomenon already took place last year with Facebooks Libra announcement. The level of centralization involved with Facebooks digital payments initiative was a learning experience for people who didnt quite understand what Bitcoin was all about. One U.S. congressman even recommended Facebook simply adopt Bitcoin instead of creating a new digital currency from scratch.

Additionally, Congressman Brad Sherman (D-CA) appears to understand the threat Bitcoin represents to the United Statess control over the global economy, pointing out that Bitcoin is intended to displace the U.S. dollar as the reserve currency for most of the world.

At least one industry executive believes the Bitcoin price will reach $50,000 in 2020 due to this potential utility of Bitcoin as an apolitical store of value for the entire world.

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Will The Bitcoin Price Get Demolished By Central Bank-Issued Cryptos? - Forbes

Bitcoin Volatility Reached Its Highest Since November This Week – Forbes

Bitcoin price volatility reached a 2020 high earlier this week. (Photo by Chesnot/Getty Images)

Bitcoin prices have enjoyed notable gains lately, rising more than 25% since the start of the year.

The digital currency reached $9,009.53 this morning, its highest since November 11th, CoinDesk figures show.

The cryptocurrency attained this 2020 high after rising to nearly $8,900 on January 15th, falling back to less than $8,600 and then mounting a subsequent recovery, additional CoinDesk data reveals.

Analysts cited many variables when explaining bitcoins so-called New Years rally, including Iranian tensions, anticipation surrounding the upcoming halving and the perception that the digital asset was oversold when the New Year began.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Rising Volatility

As bitcoin rallied this year, the digital currencys 30-day volatility climbed as well, reaching its highest in more than seven weeks on January 14th, according to figures provided by independent cryptocurrency analyst David Martin.

On that particular day, bitcoins 30-day volatility rose to 62%, its highest since November 23rd, said Martin.

While this figure represented the highest value of 2020, it was still slightly below the cryptocurrencys average volatility reading of 63% over the last six months.

In other words, bitcoins price volatility has picked up lately, but this was after the digital asset was relatively stagnant for the last few weeks of 2019, trading primarily within a relatively modest range between $7,000 and $7,500, CoinDesk figures show.

The chart below helps illustrate these developments:

Bitcoin's price, 30-day and 60-day volatility.

Altcoin Rally

One factor that analysts have cited as bolstering both the price of bitcoin and the broader digital currency markets is the rally in altcoins (cryptocurrencies other than bitcoin) that took place earlier this week.

Several of these digital assets enjoyed compelling gains, with bitcoin SV, an offshoot of the original bitcoin, skyrocketing more than 200% in a matter of days on CoinMarketCap.

This sharp run up was attributed to rumors that Craig Wright, an Australian computer scientist who claims he created bitcoin, received keys to the s0-called Tulip Trust, an entity that supposedly contains over 1 million bitcoin.

While Bitcoin SVs response was clearly significant, the run up was entirely speculative, said Tim Enneking,managing director ofDigital Capital Management.

Skyrocketing Interest In Altcoins

The interest in many prominent altcoins has surged lately, according to data on social media activity provided by digitalanalytics platformTheTIE.io.

This robust activity helps provide a sense of the interest that traders have in these digital assets.

We are seeing absolutely massive spikes in the number of twitter users discussing altcoins, said Joshua Frank, cofounder of TheTIE.io.

BCH, BSV, ETC, and DASH which have all hit their highest tweet volumes since last summer, he stated.

Bitcoin Cash, for example, exceeded 2,000 daily tweets on January 13th for only the second time since December 2018.

The chart below helps illustrate this activity:

This chart shows the twitter activity surrounding some prominent altcoins.

Market Outlook

In the short-term, bitcoin prices may consolidate for a while, trading within a reasonably narrow range until one or more developments cause it to break to the upside or the downside, according to technical analysis provided by Joe DiPasquale, CEO of cryptocurrency hedge fund managerBitBull Capital.

Bitcoin started January around $7,200 but quickly rose above the resistance levels at $7,500, $7,700 and $8,000 by January 8, 2020, he noted.

After that move, Bitcoin price continued to test the new support levels (previous resistance levels) at $7,700 and $8,000, before going on to try the next resistance zone between $8,700 and $9,100, added DiPasquale.

For now, the price has decent support at $8,500 with the 150-day moving average, but the RSI is entering overbought territory, which indicates we may see further consolidation in this range in the absence of market catalysts, he stated.

Going forward, bitcoin will trade between its support at $8,500 and its immediate resistance at $9,100 in the absence of market catalysts, predicted DiPasquale.

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

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Bitcoin Volatility Reached Its Highest Since November This Week - Forbes

Why Bitcoin Is Driving Altcoins To The Moon – Forbes

Photo by Jack Taylor

As highlighted a few days ago in this article: Altcoins will rocket when bitcoin is strong. A host of altcoins have exploded since I wrote this January 8. As someone that eats my own dog food, you can imagine Im quite happy.

Altcoins have rocketed recently.

This event has left lots of people flummoxed, but the answer to why this can happen is beta. Beta is a measure of volatility. The more beta there is, the more volatile the price of an instrument will be.

Back in the day beta used to be an investment thesis. To get an outperformance on your portfolio you bought high beta stocks because they had more ping in them in the market than low beta stocks. So if you thought things were going up, you would buy high beta to get higher returns than you would from a basket of low beta stocks.

You can use high beta to hedge too, and I use the high beta of bitcoin to hedge my stocks because the sort of shock that would knock the Dow on its rear is just the sort of news that would sling bitcoin to a lunar orbit.

Without doubt, something is up and its reflecting in bitcoins strength; you dont have to be much of a chartist to see that it has broken out. I could have written about this earlier but this kind of breakout is fragile and easy to second guess. Such a chart is simply a very bullish indicator and four times in five such a chart pattern will fail.

Bitcoin has broken out

However, the chart looks great and bitcoin is showing good strength and there is certainly enough geopolitical fuel out there to slingshot the market should things go wrong. I have said before, you will read about what moves bitcoin a few days after it happened and you can imagine not all bad things people in the know hedge against, happen, so sometimes you will never know.

Meanwhile, you can see this big altcoin rally right down the charts of coins because as the top coin rockets so the small ones follow as the speculators pile into the minnows. Bitcoin drives everything and the moves of the altcoins are reflections of their volatility and their exchange exposure to trading and acquisition.

Markets always want to personify moves and so in this case the move in Bitcoin SV (BSV) has come into focus, the idea presumably being that the unlocking of a huge chunk of bitcoin would lead to them being sold and the proceeds invested in bitcoin SV, thus pushing the price of bitcoin SV towards the hugely higher levels of bitcoin. Another idea for the move is that bitcoin SV is about to get a technical upgrade. Im always skeptical about stories driving markets. Money flows drive markets and few have the kind of money needed to make much of an impact and few that do get to keep it.

If bitcoin continues its ascent then the high beta altcoins will outperform on the way up as they will underperform on the way down. These financial instruments are tiny in comparison to other instruments and can move hugely. This knife cuts both ways.

My instinct in crypto trading is to flip out of whatever goes vertical into BTC, only to consider returning after the dust has settled. I did this today with Bitcoin Cash (BCH). Im leaving my other altcoins because one thing equities teach you is its tricky to time the market, so if you are going to try, best stage it.

While flipping out of alts into bitcoin after this huge spike may prove clever or stupid, the main message is, bitcoin is strong and altcoins are responding to this strength. Bitcoins chart looks great and the chances are that money flow is driving this and that is coming from one of the trouble spots on the globe we could all do with less of. If this continues then the speculators will climb on board and off we will go on another big rally.

However, we should remember that the target of bitcoin believers is a number of years off so the key thing is not to trade the market and get left on the beach when, as is almost inevitable, you mistime a trade and get left holding fiat as crypto roars away.

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Clem Chambers is the CEO of private investors websiteADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginners Guide.

Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards in 2018.

Originally posted here:
Why Bitcoin Is Driving Altcoins To The Moon - Forbes