we're joined by brian knight of the mercatus center 'n knight of the mercatus center, and he is here to talk about bitcoin and the about digital currency. [video clip] a discussion about the potential merits of adopting a central bank in adopting a digital itself, adopting a digital currency. it might even be a central banker or two around the globe that might go in that orck chain, every 10 minutes so, a new block updating the debits and credits on the ledger, updated by these minors. part of the system, part of the reason why you can encourage is theto have computers computer or the note that establishes the correct block is awarded a certain number of bitcoin. in that respect, they are sort of mining the bitcoin out of the ether. there is a limited number of bitcoin, 21 million, where we have mind about 16 million, 17 million, but as time goes on, the reward increases. the rate of mining is going to drop over time. you said there is a finite amount of this. how does that work him and who controls, bitcoin there is available? guest: it depends on the system. you can change it. rewa

we're joined by brian knight of the mercatus center 'n knight of the mercatus center, and he is heretalk about bitcoin and the about digital currency. [video clip] a discussion about the potential merits of adopting a central bank in adopting a digital itself, adopting a digital currency. it might even be a central banker or two around the globe that might go in that orck chain, every 10 minutes so, a new block updating the debits and credits on the ledger, updated by these minors. part of the system, part of the reason why you can encourage is theto have computers computer or the note that establishes the correct block is awarded a certain number of bitcoin. in that respect, they are sort of mining the bitcoin out of the ether. there is a limited number of bitcoin, 21 million, where we have mind about 16 million, 17 million, but as time goes on, the reward increases. the rate of mining is going to drop over time. you said there is a finite amount of this. how does that work him and who controls, bitcoin there is available? guest: it depends on the system. you can change it. reward e

veronique de rugy, senior research fellow at the mercatus center, a free-market research institute atrge mason university. and political analyst and historian, thomas frank. his 2004 book "what's the matter with kansas" explored the rise of populist conservatism in the u.s. lissa you had a long weekend, how are you going? >> i'm doing also. >> o'brien: up late ile this was all unfolding. there is lots to talk about as far as differences between the two bills. let's get kind of top line, what are some of the key differences that this so called conference committee, the two sides of capitol hill, as they get together to try and figure out what the bill will be that will go to the white house. >> that's right, that is what he had are doing. the house and senate will appoint select members to join the conference committee part of duking out what ends up being, they hope, the final bill. let's talk about the most important big sweeping parts of this. how about you and i, individuals, what is what is happening here in these bills both plans would cut tax rates but also limit deductions. so

whose director is from the her kay today -- mercatus institute which is a very conservative economics department and all the analyses come to virtually the same conclusion. the bill dramatically increases the deficit to the tune of $1.4 trillion over the ten -- next ten years. it will lead to millions of people uninsured, the c.b.o. says 13 million. and for my own commonwealth, they have a number of provisions that are harmful. we are one of the top recipients or claimants to the state and local tax. virginians are going to be hurt because of the elimination of the historic tax credit. why couldn't we work together? why couldn't we work together to try to do something that would be right as president reagan and congress did in 1986? 16 democrats and one republican stood up a few weeks ago and we said we are ready to work with republicans on tax reform. yet former governors who have dunbar tax reform, you had former tax commissioners who worked on tax issues and we said we're ready to work with you to make this better. every one of us in that group have worked on bipartisan tax reform.