the ico told us no personal data was compromised.lications were swiftly reviewed and their systems patched. they are also exploring new ways of protecting their systems. security firms are reporting hackers making millions of dollars. it's called cryptojacking. it's on the rise. and the gangs that do it aren't only eyeing up a lambo. tesla is one of the highest profile victims. redlock called them to say their cloud server, provided by amazon web services, had been compromised. the crims didn't want secrets, they wanted resources. and now most things are connected to the net there could be some targets you have not thought of. this viewer's smart tv is not quite clever enough to stop they cryptominer who has put its processors into top gear. just look at the heat signature from the tv fire stick that isn't infected, to one that is. the cyber criminals can get onto any other device in your household, for example, into a microwave or even into a smart blender if it's smart enough. itjust depends on the intentions of cyber criminals and

the ico told us no personal data was compromised.wiftly reviewed and their systems patched. they are also exploring new ways of protecting their systems. security firms are reporting hackers making millions of dollars. it‘s called cryptojacking. it‘s on the rise. and the gangs that do it aren‘t only eyeing up a lambo. tesla is one of the higher—profile victims. redlock called them to say their cloud server, provided by amazon web services, had been compromised. the attacker obviously was doing cryptomining, what we found out was the server was also exposing the other secrets to the tesla environment. these secrets had access to some engineering test cars and other data. the crims didn‘t want secrets, they wanted resources. and now most things are connected to the net there could be some targets you have not thought of. this viewer‘s smart tv is not quite clever enough to stop they cryptominer who has put its processors into top gear. just look at the heat signature from the tv fire stick that isn‘t infected, to one that is. the cyber

. >> we saw this whole room ready for ico and offering online. >> the vast majority of the ico fail.are start upsome frauds. >> darin marshal says early ico were too good to be troid. they sold coins thatty coupon that didn't exist. >> it's why they were so popular theory companying keeping the equity. >> the u.s. security and exchange says told tokened sold so raise are computers. they should give you a stake in the business and subject to rules about advertising rules facebook and google say they plan to enforce. >> so the if floyd may weather endorses another ico he has to tell the whole story. >> tell his fans that he is pennsylvania paid prompter. >> but wean with a totally legitimate fully sanctioned security token there is one problem. now that you have that smart investment, there is still no where to trade process yet. >> at the moment there are no registered or sec approved exchanges to trade security tokens. >> and that's a problem for jd. >> the problem will be that it will be like liquid and tradedable. >> he is about to bush knell tobago zbloon with each torquen holders

some are frauds. >> reporter: saying early icos early were good to be true.elling coin for a product that didn't exist yet. >> they were issuing tokens. >> reporter: tokens are just like stock. rules facebook and google plan to enforce. so if floyd mayweather eorses another ico, he will have to tell the whole story. even with a totally legitimate fully sanctioned security token, still one problem. still nowhere to trade it yet. >> at the moment no registered or fcc approved exchanges to trade security tokens. >> and that is a problem for jd serafin. he is about to launch bushnell token. >> with each token, holders receive ofits. >> reporter: about time average americans can take small bets on big ideas. he worries that if regulators are too heavy hands that wealth won't stay long. >> we don't want to have to run to the singapore or caribbean. ♪ you don't just want easy. you want "streaming all your favorite shows on the fastest internet" easy. you want "internet that helps you save on mobile" easy. you want "the best wifi you can pause with a tap." see? easy.

. >> icos are in this room and there are hundreds more on line. >> the vast majorities of these icos to fail. they are essentially start-ups, some are frauds. >> reporter: he says early icos were too good to be true, coupons for a product that didn't exist yet. >> they were issuing tokens and keeping the equity in the business. >> reporter: now the s.e.c. says tokens used to raise capital are securities just like stock they should gave you a stake in the business and are subject to rules about advertising rules facebook and google plan to enforce. if lloyd may weather endorses another ico he will have to tell the whole story. >> tell his fans he is a paid promoter. >> reporter: even with a fully sanctioned security token there is still one problem. now that you have that smafrt investment there is nowhere to trade it yes. >> at the moment there are no registered or s.e.c. approved exchanges to trade security tokens. >> that's a problem for j.d. seraphin. >> it will be liquid and tradeable at some point. >> he is about to launch atari's token. >> with each token owners receive profits

some are frauds. >> reporter: saying early icos early were good to be true.oin for a product that didn't exist yet. >> they were issuing >> reporter: tokens are just like stock. rules facebook google plan to enforce. so if floyd mayweather endorses another ico, he will have to tell the whole story. even with a totally legitimate fully sanctioned security token, still one problem. still nowhere to trade it yet. >> at the moment no registered or fcc approved exchanges to trade security tokens. >> and that is a problem for jd serafin. he is about to launch token. >> with each token, holders receive profits. >> reporter: about time average americans can take small bets on big ideas. he worries that if regulators are too heavy hands that wealth won't stay long. >> we don't want to have to run to the singapore or and i am a senior public safety my namspecialist for pg&e. my job is to help educate our first responders on how to deal with natural gas and electric emergencies. everyday when we go to work we want everyone to work safely and come home safely. i live rig

the sec's crackdown has ended the ico market in the u.s..ut a couple more things, this is important. the sec is considering two cryptocurrency exchanges just as he's doing that eric schneider man has begun to scruitinize cryptocurrency exchanges. the schneiderman people tell me it's not a crackdown just basically looking at this and provide information for investors but all this scrutiny is really having an impact on the cryptocurrency business and the sec scrutiny has stopped from what i understand completely stopped the ico business in the u.s. and that is a big story. liz: well lagarde says do not ruin this early stage new technology. charlie: well the sec would say it's not ruining it, it's helping because a lot of these are frauds. that's their side. liz: saving investors from themselves charlie thank you very much. charlie: who else will save them liz: we are six minutes away trying to tell charlie the worst point of this hour at least we were down 140 points but we are fighting back now we've cut those losses in half, disruption , it'

for investors is that the vast majority of these icos are going to fail. reporter: early icos were too good to be true. companies raced money by selling coins that were coupons for a product that didn't exist yet. >> they were not issuing equity. they were issuing tokens and keeping the equity in the business. >> reporter: now the s.e.c. says tokens are securities just like stock they should give you a stake in the business and are subject to rules about advertising, rules facebook intends to enforce. if floyd may weather endorses another ico he has to tell the whole story. >> that he is a paid promoter. >> reporter: there is still one problem. now that you have that smart investment, there is nowhere to trade it yet. >> at the moment there are no registered or s.e.c. approved exchanges to trade security toke tokens. >> reporter: that's a problem for jason day. >> the plan will be that it will be tradeable. >> reporter: he is approximate to launch buyers a stake in the film that's being made about his life. >> with each token owners receive profits from th

the ico told us no personal data was compromised. crypto jacking. it's on the rise. and the gangs that do it aren't only eyeing up a lambo. tesla is one of the highest profile victims. their cloud server, provided by amazon web services, had been compromised. the crims didn't want secrets, they wanted resources. and now most things are connected to the net there could be some targets you have not thought of. this viewer's smart tv is not quite clever enough to stop they crypto miner who has put its processors into top gear. just look at the heat signature from the tv fire stick that isn't infected, to one that is. the cyber criminals can get onto any other device in your household, for example, into a microwave or even into a smart blender if it's smart enough. itjust depends on the intentions of cyber criminals and how good the device is for mining. thankfully, at the moment, our connected kitchens don't quite have the processor power the hackers are looking for. i know what you're thinking. forget the criminals, is it worth us orch

. >> the vast majority of the icos are going to fail.er: crowd funding's ceo says earlier deals were too good to be true, companies selling coupons for a product that didn't exist yet. >> they were issuing tokens and keeping the equity in the business. >> reporter: now the u.s. says take he can toens are just like stock and should give you a stake in the business. >> show love, baby. >> >> reporter: if floyd may weather endorses another ico he will have to tell the whole story. >> tell his fans he is a paid promoter. >> reporter: there is still one problem. now that you have that smart investment, there is still nowhere to trade it yet. at the moment there are no registered or s.e.c. approved exchanges to trade security tokens. >> reporter: and that's a problem for jason day seraphin. >> the plan is it will be liquid and tradeable at some point. >> reporter: he is the founder of atari's version. >> with each token owners receive profits from the film. >> reporter: he says it is about time americans can invest. >> we need the opportunitie

the ico told is no personal data was compromised.tly reviewed and patched. they also exploring new ways of protecting their systems. security firms are reporting hackers making millions of dollars. it is called cryptojacking. it is on the rise. and the gangs that do it aren‘t only eyeing up this. tessel is one of the high your profile victims. read called all binta said their cloud server, provider amazon web services, had been uppermost. what we found out was the server was also exposing the other‘s secrets that make other secrets. they had access to test cars and other data. the criminals did not want secrets, they wanted resources. and now most things are connected to the net there could be some targets you have not thought of. this viewer‘s smart tv is not quite clever enough to stop they crypto minor who has put its processors into top gear. just look at the heat signature from the tv five stick that is not infected, to one that is. the cyber criminals can get onto any other device in your household, for example, into a microwav

ico at. wild shots in south africa. simply talking about conservation is. an organisation introduces local wildlife and conservation through photography. the wild granite kruger national park children closer to nature. africa next on t.w. . european stars deliver rousing performances. the bare resistible time pub probably. tell young singer songwriter next. story that people over information. they want to express. our facebook twitter updates in touch. following. climate change. isn't it time for good. people and. projects that are changing our garments for the better. to make a difference. let's. do it. on d w. hello and welcome to the latest edition of eco at africa then environmental magazine brought to you by d.w. child knows t.v. and kate c.n.n. my name is sharon my money coming form my robey kenya and joining me is my colleague n.c. in the ides area hello and see.

and especially the ico space.y investors are having a hard time between investments and fraud. >> what can the s.e.c. do to make it clearer? >> we've been doing a lot in the ico spate. clayton has been out there very clearly and this is what he said he said he hasn't seen an ico yet that's not a security. we get all kinds of different manifestations and proposals and i'm with him i haven't seen one yet that's not a security one of the things about icos that's interesting is if you want to know what it would look like if the s.e.c. didn't do its job, the answer is the ic orko market >> does that suggest you're about to ban this market >> it doesn't suggest either of those things it suggests we are right now focused on protecting investors who are getting hurt in this market down the road i think we will be thinking about and should be thinking about ways to make that work. >> when you're saying you're trying to protect those investors, how are you doing that >> we've been focused on investment in that i've been at

and ico appreciate the fact that accommodations were made so that mike pompeo's nomination could be presented to the full senate with a positive vote. i am disappointed that so many of my democratic colleagues has stated that they will oppose this nomination, and i heed the admonition of one of the members of the democratic party at the confirmation vote before the committee. when this member asked that senators not question the motives of anyone who takes a position one way or the other with regard to the nomination of mr. pompeo. and so i will heed that admonition, madam president, and not question the motivation of any senator who votes either yes or no on this nomination. i will simply observe this. mike pompeo is a highly qualified nominee, a distinguished former member of the house of representatives. he served with accomplishment and great dignity and ability as director of the cia. he graduated first in his class from the united states military academy at west point, and went on to serve, to graduate with distinction at the harvard law school and served as editor in chief of the harva

there,pto people out the industry really uses it to be able to communicate, but it's doing its own icos got its own and haters in terms of buying into its gram crypto asset that it wants to launch because many people it won't be able to set up network, their block chain network that it anticipates it will. will the issues in moscow, example, dent that credibility yet further? >> well, had they complied that court order there would have been no coin, it would have been died instantly. in cryptocurrencies of keys themselves are the currency. when you trade bitcoin trading cryptographic keys so when you had a court compelling the disclosure of keys for the messaging app, that would be really taking away one of the main reasons why people invest in cryptocurrencies in the first place and that's protection against asset forfeiture so what we saw was a court saying that you must give us these keys because we need to be able to basically take away privacy and spy. even if there's a compelling terrorism or safety, in this case they would be money, if you relate it to the coin. so had they comp

we saw this whole room filled with companies ready for initial coin offerings or icos and hundreds of reporter: crowd decks says that earlier cryptos were too good to be true. people were selling coins for a product that was didn't exist yet. >> they were just issuing tokens and keeping the equities in the business. >> but the securities and exchange commission says that tokens are subject to rules about advertising, rules facebook and google say they plan to enforce. so if floyd mayweather endorses another ico, he'll have to tell the whole story. >> tell his fans that he's a paid promoter. >> reporter: but even with a fully sanctioned security token, there's still one problem, now that you have that smart investment, there's still nowhere to trade it yet. >> at the moment there are no registered or sec approved trading platforms to trade these. >> it will be tradeable at some point. >> it gives buyers a stake in the film that's being made about his life. >> for each token, owners receive the profits from the film. >> reporter: the owner says it's about time small americans can take b

in that context, he believes this cryptocurrency business including this icos inside of -- in lieu of where you can basically issue -- create a company, sell what would have been stock, it's now cryptocurrency to people outside the normal checks and balances. regulated by the sec because cryptocurrencies are securities, but it's a little more difficult. liz: do we really need to be saving people from their own stupidity? >> depends on the people. do you think that the -- liz: these icos aren't picking up the phone and calling the boiler rooms. >> oh, yeah, some of them. not saying all. there is good businesses there, but this is pretty much along the lines in many cases, you look at the sec website with the seven or so cases they brought. this is along the lines of potential boiler rooms and also along the lines of tulips and internet stocks that have no value. this is something that they are really worried about. so the upshot here is lots of cases coming down in this bitcoin area. if you are trading bitcoin right now, i'm not saying bitcoin is going to go to zero, i have no idea. th

the icos, this is captivating wall street.at the traders are telling me is they're furious at the mounting regulation. liz: look at the two day chart here. >> it's amazing, they believe clayton doesn't understand, they don't believe the sec is overstepping bounds in trying to regulate this thing, determining securities and tokens that get produced when you do an initial coin offering as securities, meaning he can regulate them. they are furious at, that and the upshot i'm getting is cryptocurrency does not have a -- yet, anyway, some sort of a trade lobby organization, probably one that comes out of this. liz: what does ge have to do with this? >> i am going to talk to ge in a minute. clayton is persona non grata in the cryptocurrency business. you can expect a couple things. lobby group to come out of the cryptocurrency business to lobby the sec to back off the regulation. liz: which is what christine lagarde said yesterday to us. she said don't breathe down so heavily, this is a new technology much like the internet in the 9

bitcoin is the -- in the safest place out of all of the other cryptocurrencies a lot of them have icost has attracted as to was it or was it not security tokens bitcoin is the only one that clearly falls on the safe side of the s.e.c >> let me push back a little bit on the tax narrative when you think about it, if you had big gains in 2017 and you have this huge selloff in 2018, the whole crowd might not sell the asset that's down 60%. they may sell amazon or something else they've owned for a long sometime is that a possibility? we may look back and say that was a convenient narrative around april 17. >> that very well could be but i think it's surprising how much taxable gains people have had in 2017 if we think about the performance of this is a set class and we've seen coins in 2017 rally if not a couple thousand percent, even if people were hold ethereum, if they traded that for an ico, that was a taxable transaction which some people might have not realized again, maybe at the start of the year they would have had to have sold 10% of their portfolio to cover those taxes. now in a

ico.d when trump stands up in front of a crowd it is kind of like ahead zeppelinÑi moment, yu 0 know you are going to hear stairway to heaven and you are going to hear him barbim grants. >> sreenivasan: while we end up spending attention on this, you point out very important stories that are undercovered. >> i like to remind people there stuff going on behind the headlines. this past week, judge stephen reinhardt died, he is a ninth circuit court of appeals out west, probably the most liberal federal judge in the entire country, and that courtapf als has been the bain of conservatives for years. this is funntdaly dominated by liberals. so there are now eight vacancies on that court, part of 100 federal vacancies he and senate majority mcconnell are determined to fill as qukly as possible. so much so that mcconnell is about to 86, a longstanding tradition in the senate that a home state senator can blo a federal judge from his or her state -- >> a blue slip, ev it is from the other party. n

dr seth ajak one of those pick and you already know not cite ico who are sort of sort of stood up and he forget that he had pulled a deal they say and to the court of law but in a medical circles he will not get to buddha a pickle might there be a list but what is the notice with other than i am business there. in the early eighth century. muslims conquered most of the i bury in peninsula the province they called under seal. but the compering on it was on able to drive home their success. the remnants of the former rumors the physical fights took shelter in the mountains in the north. of the cult but some of them it's called a lot of you want to show that it is when you allow. the d.-day academy to be to the e.c. a lot of the. mountains of northern spain would become the cradle of new christy kingdom. thanks. kingdoms that would start a holy war not a complete stop three conquered by darian peninsula and end what they saw as muslim occupation. last. can remember. that it will cause all kind of look at that and does anyone see the illusion as she lets it can it's a party to feed his bo

. >> border patrol agents on the arizona and mex ico border are getting a boost from the national guardhe will be a joint mission to crack down on illegal immigration. what the arizona governor is saying about all of this new cooperation. . now, the next big thing is the capital one savor card. good choice babe. oh, wait, hold on. earn 3% cash back on dining, 2% on groceries, and 1% on all other purchases. what's in your wallet? so if you have heart failure, your heart doesn't only belong to you. ask your doctor about entresto. it helped keep people alive and out of the hospital. don't take entresto if pregnant. it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren, or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high blood potassium. entresto, for heart failure. >> right now members of the arizona national guard are in place getting ready to provide support in the effort to secure the southern border. and they're getting ready to see if the number of immi

being invested by the sec because they wanted to become an exchange in the and i -- exchange and do an ico david, obviously there has been a lot of volatility, but bitcoin has been come way down from a type would you be expecting more institutional investors to try to get in on it? david: i thought caroline's analysis was true. let us face it, soros' genius is timing. buy low and sell high. he's really good at it. it is interesting that so many u.s. investors who said they would get into this in a big way basically have pulled back and have not yet made that decision. i do think the general, cryptocurrencies are here to stay. they will become an intrinsic and fundamental class wall street investors generally. i do not necessarily think bitcoin will be the primary thing they're buying and selling. it probably will be part of it. one thing i think is important to remember is that blockchain that is so closely associated with bitcoin, the kind of system will be used in many other cases outside of the bitcoin one. in any one of them, will be cryptocurrency most likely involved in many cases. a

this case, they can put the squeeze on your lawyer, which, i don't care with the congressman says, icoind what happened with michael, and absolutely repulsive. lawyer client privilege is something that was established by elizabethan times as a basic principle of common law. the idea that you cook the theh kick the guys door down, and you are supposed to be reassured bee the prosecutor's colleague, whos not working on the case, we'll go through everything and decide what is or isn't covered by attorney-client privilege, is ludicrous. >> tucker: weights. to interrupt you there. you are not from this country so you may not read "the new york times." they assured us two years k daf you are not guilty, you shouldn't worry about attorney-client privilege. there is no cause to hold onto that right if he is a criminal. >> i saw that in "the new york times." what was also interesting to me is that the story began by announcing that they had been briefed by three people involved with the investigation. so we've already got three people leaking to "the new york times" that there's nothing to worr

you also have the telegram ico which is the poster child, that's about $2 billion that otherwise may maybe would have gone in the bitcoin. so i think that's weighing soless buyers, more sellers, lower price. >> thanks that >>> coming up, this year's next big unicorn is about to make its public debut spotify's direct listing is tomorrow we'll talk to a top venture capital itself who says he can't wait to buy the stock. plus mark zuckerberg and tim cook going head to head over facebook's privacy scandal but who do you think the traders think is right we have much more fast right after this p them do their work. but they might not know that those items may need special insurance to protect against costly damage, theft, or liability on the job. trusted choice independent insurance agents represent multiple insurance companies and customize coverage so business owners can focus on business. announcer: to find an agent, visit trustedchoice.com when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a.

anything but we will find out when beef the ceo on in terms of overstock they had issues with their t zero icot there are companies outside the u.s. that have significant exposure to roipt. >> in places like japan where it is considered legal tenner the and you can build businesses around it. >> there are exchanges owned by other companies. the people who own trade station are going to be an exchange. >> still ahead, a moment we have all been waiting for the ceo of longfin, a blockchain company being investigated by the s.e.c. will be here. the ceo has a lot to say he will say it after this break. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. and their troubles joining us is the chairman and ceo venkat meenavalli. welcome back to the show great to have you with us. >> thank you very much >> since the last time we have seen you, the stock is down significantly, about 92% from highs. you have gotten kicked off the russell 2000 the s.e.c. is investigating because of material weaknesses and other thing. and the noted short seller sit ron h

i agree with almost everything you said on the ico market, but bitcoin itself, a lot the arguments youn make them for gold and yet, gold exists as a part of peoples' portfolio. you can't really transact in it. you can transate much easier in bitcoin and it's only a store value. it's not as volatile. been around a lot longer -- these are properties that bitcoin has as well and people think of it as an asset class which bitcoin is emerging as. how do you differentiate between gold and bitcoin >> i think similarly, gold is yes, an asset, but not something that generates revenue or profits. it's just something that sits there. and it's got a long history of being something that people will look too for stability and it has reasonable stability in price, at least visa have i something like bitcoin. where does the value come from if it's not an effective means of payment, if it's not a great store value and i don't think it is, at the vest least the volatility what makes it valuable. people say scarcity. there's no more than 21 million bitcoin that will ever be minted fine. my autograph is s

than most people realize if someone bought an alt coin, as soon as they received the coins from an ico taxable. if you sold one token and flipped into another, that's taxable. many events became realized taxable events >> tim, i think you have a good question for tom. >> well, my question is if this is such a global phenomenon in that 2/3 possibly of crypto trading and activity goes on in asia, but again, your numbers say $25 billion alone, if that's u.s., that will move the market but u.s. tax moment for a global industry shouldn't be knocking it down so badly >> it's a great point, but the multiplier of fiat, so a dollar movement to crypto market change is potentially 20 to 25 times. so a $25 billion liquidation is several hundred billion of market cap impact. so it's the nature of crypto being sort of an earlier stage industry it's much more sensitive to fiat flow. >> what do you need to see in the crypto market in order to make you believe that your theory was correct, that it was tax selling pressure do we need to reclaim a level? >> you know, i would say that we need to see it mo

>> look, you know, ico on the blockchain >> i should have said that, too.>> buzz word nausea in silicon valley one person wrote this incredible piece on a.i., which is doesn't bring natural distribution the iphone, right, all of a sudden, people consume it. now you have a platform. there's nothing about a.i. that just holds forward distribution. it's really a technology and you have to have a place you're applying it. we have an early stage company called blue hex gone using a.i. to find zero day attacks by looking at fingerprints of security issues. and stitchfix uses it for personalization around clothes you need an application. and if you put more than five buzz words in the initial e-mail, i won't respond. >> are you a bitcoin believer? are you into crypto? >> our firm's done a number of investments. i think the thesis around bitcoin as a store of value versus a bunch of countries that are overinflating is an interesting concept and has a lot of strategic heft to that singular argument. so far to date, no one has developed any technology around a distri

. >> you won't give us any of the icos you are in. >> i like aventis point.ers of that company we also like homers block which is 175 and a slightchain protocol, we're invested in that company heavily. both of those companies under the hood like all the good companies will develop usable technology in the next 9 to 18 months that's what the market needs to get some confidence back. >> danny, great to have you with us we hope you'll come back. >> you're welcome. >> danny masters. >> so we have a melt up november, december and a crash back in january. now let's just talk bitcoin for a second now it's been a slow bleed it will reverse that entire move back to 5,000, this is my just guess. keep an eye on all these projects danny said it four times remember that announcement that coin base made last week they're starting a venture fund to invest in prongjects. >> yeah, i think danny's right, have a dynamic here where you have to let some of these platforms go to work and let that technology play out i'm a big believer, but the question is bitcoin is horse to ride

inee of my favorite officers exit code allegedly committed suicide with shots to the back ico allegedlyex committed suicide with shots to the back of the head. that tells you something. there were thousands of colombians who died in that war. when we talk about the war on drugs, in those countries it is truly a war on drug. they are putting your life's on the line. that is a good question. >> i want to thank you for all you do. i am a pharmacist from ohio. we own a pharmacy and work with dea quite closely on the prescription drugs side. thank god you are out there on that. we are being asked to speak in the public on fentanyl and carfentanil. holds thetunately record on the number of deaths. carfentanil was brought into toledo that was discovered and up to kill every man, woman, and child three times in toledo. we would really love to partner with you, but i think mainly the relationship that pharmacists have with dea is when our guys screw up. i would love to see a partnership form to develop educational materials. i represent the association and want to mobilize our 12,000 pharmacists

ico investigating, so this is only the beginning of the story. theaad: it has thrown up notion of our data and how it is used. perhaps we were blasÉ about it. is there a groundswell that this really matters now? >> there is definitely a gap in trust. there is data out of the research kind, in the past year that shows that it matters. we have to constantly remind ourselves that there is this trust happening around facebook well before this cambridge analytica blowup in the past month and a half with them, and so we are seeing underlying trends that are bad for facebook's core app. their usage has been down since last summer. one thing we did not hear to date that is important is we never heard about instagram. allowed to buy instagram and we heard no discussion on instagram. i think facebook has been doing a good job keeping instagram and that whole business, which is a huge part of the growth come out of the mud. about not talking implications of having instagram, right, but i am curious as to whether you think are we likely to see a different mo

even that ico asked people to consider that the presidential power does not have, is not extreme and unless we throw out all caused elements to remove especially in theory of office this bill under the pretense this amendment under that pretense is to meet constitutionally valid and he said quite eloquently serve in your opening remarks let's do our job. let's allow the supreme court to do theirs. i've been spending a lot of time since i was privileged enough to come onto this committee to read and reread the federalist papers to focus on our founders and their intent and what is stunning to me is how much we complain about the partisanship of our era. the partisanship in the founders era specially in the early days of our republic was extreme. to my knowledge we have had no duelsd . i heard one of my colleagues whisper not yet. i just have to say this is then one of the more privileged, moments i've had as a united states senator. chairman your team has been extraordinary in the way they have worked with the floor sponsors of this legislation. it is a moment in time where like our f

to start to track down on fraud, money population, stuff that is actually legal, like in the case of icoi see furtherble deteriorating overtime. tom: let me bring in drew matus with some final thoughts. he talked about bitcoin in the effervescence of bitcoin and all of that. a more philosophical question around an unemployment rate that digits, even out to 45 -- four or five digits. is it a gilded age? is it a photography, or are we migrating away from the inequalities of the last decade come are weacy migrating away from the qualities of the last decade? guest: productivity is the key to all of this. acceleratesity because growth accelerates, then perhaps the tax cut would be seen as being one of the great things that have been done. when you look back in history come when you look back at 1961, 1982, the two big tax reform packages that have been done in the past few decades, those economic cycles extended from was double the average cycle during that time. . p -- duringat time that time period. is that plays out during this cycle it means we are in the middle part of the cycle rather

about the three areas, there's cryptocurrency, bitcoin, they're utility token, all the craze about icosown some utility function like this data for shop-in. or then there are security tokens. if you think of everything of value, this building we're sitting in, a house or the plaza hotel, everything can be tokenized and we go from the age of paper ownership, physical securities, to digital -- to electronic ownership, blips on a screen to true digal ownership. that trend -- digital ownership. that trend is massive. every year, 14 trillion, with a t, trillion dollars of real goods transfer ownership. that's all going to be digitized. we want to invest or help institutional investors invest in the security tokens. >> where are you on that? how much have you raised? >> we just a announced we acquired a team and we're going to start raising that fund in the next little bit. >> maria: are you going to buy bit coins? >> no, not crypto, security tokens. not utility tokens, security tokens. >> maria: interesting. >> you've got an educational job ahead of you to help people understand the differen

telling you we are going to raise serious, if i simplyisis and responded by saying oh, g, site,ico" iserrific that would not be in keeping with what we are trying to do. the one thing i will say about wikipedia, which brings up another issue we have not grappled with that we need to figure out the answer to -- wikipedia, as you know, is, kind of, a wisdom of the crowd, kind of, process, where members of editudience can go in and entries on wikipedia. some of that might be reliable. some of that might be quite reliable. we have not figured out how we will do with those kinds of questions yet. host: mr. brill, we will leave it there. our viewers can continue to check out newsguardtechnology on twitter. thank for your time. guest: you are welcome. host: next on "washington journal," we continued to the discussion on fake news and the state of journalism. armstrong williams will be here in just a moment. we will be right back. ♪ "sunday on c-span "q&a," a theoretical physicist and author talks about his career in science and his latest book "the future of humanity." nature'srm of mother ex

. >> according to -- cambridge ico analytica both gained access to huge amounts of information about facebook users and app a user's consent. closed quote. this data wasuired u used to ta voters with much as the same type wasas used. would that be correct. the frds he turned around and in violation of our policies and of people's expectations sold it ti a third party refresh his memory. i think that we weresur very cl about how the platform worked at the time.cl anyo that anyone could sign into an a app and fail to bring their information if they want it and some informationormation t fromo friends. people had control over that. so if you wanted, you could turn off the ability to sign into ityity apps or turn off the ability for your friends to bring information.ed the way we pl had designed it. we know we should have had a more restrictive platform. where people can only bring their own information, but tha that's the way the system olatio worked. >> whether in violation ororth you agreee users have an expectation that their information would be protected r andiv remain private and

the ico told us no personal data was compromised. and their systems patched.lars. it's called cryptojacking. it's on the rise. and the gangs that do it aren't only eyeing up a lambo. tesla is one of the highest profile victims. provided by amazon web services, had been compromised. the crims didn't want secrets, they wanted resources. targets you have not thought of. they cryptominer who has put its processors into top gear. infected, to one that is. into a smart blender if it's smart enough. the device is for mining. have the processor power the hackers are looking for. i know what you're thinking. or or is itjust not worth the effort? miners with processors specifically designed for thejob. so how do the maths add up? we have one of the latest cryptominers. that is not the only cost in this business. we have to pay for the electricity to run it 2a/7. which in a typical us city might cost us about $200 per month. so how fast can it mine cryptocurrency? well, that partly depends on how many peoplejoin in the game. the more total computing power doing this, the