Where is it at right now . Paul it is probably oh, god. Probably the fourth or fifth wave of interest of this thing. It has waxed and waned in terms of speculation and attention in the mainstream. Certainly in terms of price in dollars, this is the biggest move it has had. In terms of interest, probably the biggest too. Not totally in the mainstream but much further than it had been. Jeff is it still at hype phase . Catherine the market cap, the Network Value bitcoin with bitcoin is a little over 100 million 100 billion. And has come up really fast but it is at a fraction of apples valuation, amazons valuation. Jeff and certainly a small fraction of the overall economy. A very small fraction. For all the cryptocurrencies, which there are like 1000 different digital point. It was 12 billion a year ago. It has been doing pretty well in the last few years. Jeff bitcoin is far and away the most popular. Take me back a little bit if you would. Bitcoin is invented in the wake of the Global F
Lily the results of the ceo of blackrock who came out and talked about it. Jeff you started introducing more folks to it, which leads to the question of i do not want to get too far ahead but it leads to the question of regulation. Much of space and Financial Services being involved not just banks and Financial Services being involved, but the government being involved. Paul there are a couple of moving parts there. One, you have people working on bitcoin it else and that project itself and that project. Initially, a lot of them were antigovernment, and i regulation. It was designed as a hacker projects that wanted to get around the system. Create a network or you do not need the middlemen. Distances came in and then we can build a business on this. We want legitimacy, we will need to be regulated. They started reaching out to the regulators. The last four or five years, you have a dynamic where one group is adamantly antiregulation and the other group that says we want to bring this i
Bitcoin and block chain are challenging the Global Economic order, and willie cap, a reporter at bloomberg news. I am pleased to have all of them at this table. Paul, let me start with you. A lot of bitcoin talk recently. Where is that right now . Where it is that right now is it that right now . Probably in the third or fourth wave. Throughout history it has waxed , and waned in terms of the speculative fervor and attention in the mainstream. Certainly in terms of price in dollars, this is the biggest move it has ever had. In terms of interest, probably the biggest too. Not totally in the mainstream but much further in the mainstream and it has been. Jeff catherine is it , still at hype phase . Catherine the market cap, the Network Value of bitcoin when you both include bitcoin and bitcoin cash is a little over 100 billion. It has, up, very it has come up very fast, but it is at a fraction of apples valuation, amazons valuation. And we think it is a much bigger idea than either one of
The appropriations subcommittee on labor, health and human services, education related agencies will come to order. Good morning to everybody, particularly good morning secretary devos for you and thank you for appearing before the subcommittee today. This is a difficult budget request to defend. Last month the president signed into law an appropriations bill that included 161 billion in discretionary funding for this subcommittee. While that was a billion dollars less than we had the year before, we were able to eliminate programs and prioritize programs in a way that allows us to do things like return to year round pell. First time in nine years where students who begin this fall will have the opportunity to have the pell grant available to them year round. This year, the fiscal year 2018 budget request proposes a significant funding decrease in labor, hhs, approximately 24 billion below what were spending in the current year in the agencies that reflected in the work of this subcomm
Defend. To just over a month ago, the Congress Overwhelmingly cast and the president signed into law an appropriations bill that included 100 61 billion in discretionary funding for this subcommittee. While that was a billion dollars less than we had the year before, we were able to eliminate programs and prioritize programs in a way that allows us to do things, like return the yearround pell, the first time in nine years where students who begin this fall will have the opportunity to have a pell grant available to them yearround. This year, fiscal year 2018 budget proposes a significant funding decrease and labor, hhs, approximately 24 billion below what we are spending in the current year in the agencies that are reflected in the work of this subcommittee. That is a 15 cut. It includes approximately 59 billion, which is a 9. 2 billion reduction. You not only get the start with a new look at the department of education, but also with a new look at what we should be doing. We are glad