Ver, onetime Bitcoin Jesus. Hes here to tell us why this is just the beginning of the rise of bitcoin cash. And were going to switch the bug. Switch it from bitcoin to bitcoin cash the newlyadded coin has been extremely volatile since being added to the platform. Its a crazy bitcoin world out there. Were going really large tonight here on fast. First we start with the tax cut. What all of wall street has been waiting for, as both chambers of Congress Pass the bill and President Trump took a victory lap at the white house ylan mui is in d. C. With the details. Reporter melissa, it was a washington love fest there at the white house, with many people thinking that republicans wouldnt actually get this done before christmas but the party rallied around this bill. They put aside some of the infighting that had plagued the gop earlier in this year to stand behind the president its been an amazing experience i have to tell you hasnt been done in 34 years but actually really hasnt been done, because we broke every record its the largest i always say the most massive, but its the largest tax cut in the history of our country, and reform, but tax cut. Reporter now, it isnt quite the biggest tax cut ever but it is a very large reduction in the corporate rate. And there are also some sweeping changes on the International Side republicans say this is all going to encourage companies to invest more money in the u. S. And also to raise worker wages there is some anecdotal evidence out today that theycan point t as signs of success, with wells fargo announcing theyre going to raise workers wages and at t also announcing that it is going to invest 1 billion in the u. S. In 2018 and give 200,000 workers a 1,000 bonus there is a little catch to that. Those workers only get that 1,000 if the president signs this bill before christmas thats the only way they get it before the holiday he didnt sign the bill today and its unclear when hes going to do it but republican officials assure us he will put pen to paper soon ylan mui in washington, thank you. Is there still time to buy this tax rally guy . I think the answer is yes its not just at t wells fargo gave a special bonus. On the margins, thats a really good thing nothings changed in terms of the market stay the course. This is a benign day, financials traded off a little bit. Maybe thats sort of sell the fat type of thing. I still think deep industrial stocks work. Transports have been on fire Federal Express is still too cheap in terms of valuation, especially after what they said last night so the things that have been working, in my opinion, continue to work. Something like Dollar General when you take an effective tax rate from 36 to 21 . If you listen to the analysts on the street, what theyre being able to do is not just price in Corporate Taxes but talk about the consumption impact and the demand side of this. Theyre playing around with those numbers, whether theyre right or wrong part of the argument for domestic and consumption is because the consumption story is supposed to be better. Energy is supposed to be a big place to be investing. Theyre u. S. Dollar cash earners, where these guys ultimately get the huge benefit from the tax, where is the integrators in some of those names really dont because theyre making their money offshore i think its a sell the news kind of thing. But i dont want to realize gains. I like everything i own, i liked banks, i dont really care if they traded off a little bit today. I felt with the volatility index here, it touched south of nine today, i felt like i had to buy protection if i want to stay long this market i bought some spdr puts, i thought those were very attractive, allows me to stay long how much of your portfolio would you be hedging in other words, how big is that position its probably going to work its way up to 4 or 5 . Thats the max but you know exactly what youre going to lose. So i want to stay long stocks. That helps me sleep better at night. I would say that im in karens camp i think it is going to be somewhat of a sell the news type of event there will be a rotation, i believe that will be the overarching theme. You could stay with Retail Stocks i think q1 and q2 are going to be easy comps for retail to tims point, you could go into energy. I have not seen any bids into energy until today youll have to wait a couple of days those two rotations, retail and energy, still have room. I have a stupid question. The rest of them are not. Thank you, grasso when you say its a sell the news event, when is that moment in time . Because i would argue that the moment in time was yesterday or it was today there are a lot of considerations probably today, since its 5 00 and the market is closed, maybe tomorrow you have the tax considerations that karen talked about. I was a little disappointed in the action today we argued about whether or not this was priced in so now we have the deal and you didnt get a rally its only one day. So maybe were starting to get to the point that its priced in that being said, i think theres places to go i want to look at the next things that are going to happen. I want to look at infrastructure i want to be in cap tractor, in john deere caterpillar, its going to the moon its going to mars now. I hear you. To me, the infrastructure story is one that largely, first of all, we havent had an announcement, we had a supply, sensed a lot of these companies were doing better. What were seeing is certainly part of that look at what rates did today, you have 250 on the tenyear say what you want about eps for the s p, whether its 150, 160 if you do that with a tenyear thats at 275 or 3, you have a different argument for the stock market than at 250 this move in the tenyear, does that make the case for banks stronger its fascinating, dwyer will tell you the sliding year curve is still bullish for a period of time people say steepening yield curve is bullish for the same or different reasons. Effectively everything is bullish for the markets. I would suggest it should be a steepening yield curve by definition has to be good for the banks. When the yield curve was 53 basis points, banks were to the upside as well that was regulation too lack of regulation was a huge part of it i think when i say its a sell the news type of event, its a short news type of event once you get into 2018, people will start to see that earnings will rachet up and youll start to see those triggers. Are we expecting through the end of the year that that affects stroocks that large cap thats gone on for years and years will take a powder maybe the second quarter, theyll get back on those faang names again. Our next guest says there are three names that you want to buy right now. Hi, rich hi, melissa ive got three strong buys and it all starts with microsoft it really doesnt get any better than this. Big 17year base of support, okay and we break out on an absolute basis. Youve seen that this is the most massive base, is the president might say more importantly, look at relative to the s p. Once again, a breakout relatively and absolutely to a 17year high, thats compelling. You dont see that every day lets keep the big cap tech moving here into intel you know the name. Its similarly bullish you have this multiyear base of support into one of our favorite continuation patterns, the bullish flag we bought the dip in chips and were going to buy the rip this stock can go to 60 microsoft and intel are at the top of your list from tech to texas, well take the other side of that trade as steve alluded to, this is chevron, up about 2 to 3 to date, thats a laggard, thats going to change next year. Bullish cup and handle here. You have crude itself testing at 60. Youll get a breakout early next year chevron is a stock thats going to go from an underperformer in 17 to an outperformer in 18, a great way to play the burgeoning rally in the tech center three strong buys, great ways to play the dow at record highs come on over, rich. I dont know how well stuff you in here but we look forward to it. I think theres some room over there between brian and guy. The more the merrier. Do these picks say anything about the sectors of which they are a part look, they say a lot. Theres a big narrative in the market to steves point that this sort of rise in Interest Rates, in value over growth, tech is going to be used as a source of funds. I go the other way, you know where i stand. Its guns and butter at the same time, growth and value, tech and banks, small and large, foreign and domestic this is a strong bull market like we havent seen since 96 im not selling microsoft to sell chevron im buying the bull. Those three charts had different characteristics. Microsoft looks like a continuation intel has skyrocketed over the last couple of days. Chevron maybe has not broken out of that pattern you mentioned. Of those three, which do you prefer is there one thats a stronger pattern to you theres two schools of thought. Im a classic trend follower in bull market, strength begets strength a stock like microsoft doesnt scare me off, its my favorite microsoft, theres a roadmap to get there. Thats 50 upside from current levels microsoft is compelling. Energy, chevron, thats a sector, you saw a little preview today, crude is going to have a six handle pretty soon when the calendar turns youll change the way you look at those energy stocks. Were having a little bit of a debate whether tax is a buy the rumor, sell the news event is there anything in the charts that suggests that a sellthenews, even small and brief, is in the cards i dont think so. The key point for me is the backdrop is so compelling here that to think that to try to get too cute with a setup this strong will cost you more money than its going to save. Were clearly on a heater here into year end. We always see some volatility in january, some repositioning, false starts that being said, dont get fooled into a sell the news. You want to be a buyer what is the most likely thing that could derail this story i think while i am very optimistic on technology, 25 of the market, if tech is viewed as that source of funds, youve seen antitrust concerns over facebook, if tech is sold to buy sectors, it wont have the same lift thats just the risk rich, great to see you, merry christmas, happy holidays. He should stay there, now its even. Its symmetrical. I know it bothers you that it wasnt symmetrical because you appreciate symmetry. He doesnt even have to talk, just say what can i do for you. Chevron is more expensive than exxonmobil they effectively had the same year i think if you want to play energy, exxon is the cheaper way to go. But i understand what rich is saying on the break on chevron what did you do today watching the homebuilders, existing home sales, 11year high you watch these names like pulte and kb, im still long pulte, up 80 year to date they have a lot more room. Housing recovery is still in the early innings. Ahead, the socalled Bitcoin Jesus, roger ver, is here. Hell tell us what it means now that bitcoin cash is on coinbase right now its moving higher where is the bug hell tell us how high he sees it going plus Td Ameritrade offering Bitcoin Futures trading. How big does the Online Broker think the cryptocurrency could get . Later check out shares of Bed Bath Beyond surging after hours, now falling into negative territory. One in Customer Satisfactionber over cable for 17 years running. But some people still like cable. Just like some people like preshaken sodas. Having their seat kicked on an airplane. Being rammed by a shopping cart. Sitting in gum. And walking into a glass door. But for everyone else, theres directv. For 1 rated Customer Satisfaction over cable, switch to directv and for a limited time get a 100 reward card. Call 1800directv. Yes or no . Gin. Do you want the same tools and seamless experience across web and tablet . Do you want 4. 95 commissions for stocks, 0. 50 options contracts . 1. 50 futures contracts . What about a dedicated service team of trading specialists . Did you say yes . Good, then its time for power e trade. The platform, price and service that gives you the edge you need. Looks like we have a couple seconds left. Lets do some card twirling twirling cards e trade. The original place to invest online. Wifiso if you cant live without it. T it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. Welcome back to fast money. Yankees red sox. Ali versus frazier biggie and tupac those rivalries pale in comparison to perhaps the most contention of them all, the bitcoin civil war. Thats right, the bitcoin civil war. First there was bitcoin. Then there was a split and thats where bitcoin cash comes in since then theres been a battle between the two. To be clear, on the desk we dont care which does better we thought its the perfect time to break down the differences between the two. Bk is at the plasma. Absolutely. Lets go through these two ill try to explain it very simply what the split is about the split between bitcoin and bitcoin cash is ultimately about how you scale this the Bitcoin Network was so popular, you needed to make it bigger it came down to the size of the blocks you might want to think of the size of the blocks as the memory on your computer, in a sense it also comes down to the immediate transaction speed going on today those two also feed into what you might pay on the network so you do have to pay something to the miners to send one dollar from bk to guy you have to pay different amounts. And those fees are dependent on how full the blocks are, how fast it is, how many miners are out there, how big the Network Effect is. Then there is the Network Effect notoriety is somewhat interesting in this case, because there is a bit of a controversy over this. It is a bit of a civil war lets dig down a little bit more into this and see what the difference is between bitcoin and bitcoin cash so the block size or lets call at it memory size. Bitcoin today is at 2 megabytes. Bitcoin cash moved it up to 8 megabytes. That means you can do more transactions every ten minutes on the system as it is today so we look at transactions right now, bitcoin is about 3 to 7 transactions per second. Bitcoin cash is 24 per second. Just to be clear, this isnt even close to what visa does there needs to be another solution to scale this thats what bitcoin has. Lets look at the prices i did a transaction today, cost me 10 bucks on bitcoin, cost me a dollar on bitcoin cash thats the difference you see immediately. Bitcoin has a much bigger network. Its accepted many other places. There is a Massive Development team on top of it. And theyre building stuff like the Lightning Network, which is actually the scaling solution for bitcoin. Bitcoin cash has a much smaller network. It has a ways to go in developing that. And that takes some time thats the basic two differences between these. So the other thing i want to say is that i dont care which one wins i dont have a dog in this fight. I own both of them i think theres place for both of them. Anyone who thinks im trying to say one or the other, it is not true, i like em both. Karen has a question. Is there some number of market cap, some Critical Mass bitcoin cash would have to reach for the networking effect to move over to bitcoin cash . I personally view a world where they can both serve two different functions. Bitcoin serves as a settlement layer. And bitcoin cash serves as a transactional currency i would like to see them get along. You dont have to have this rivalry and it doesnt have to be a market cap that one wins versus the other thanks, bk, very eloquent now the man who called the rise in bitcoin cash, otherwise known as Bitcoin Jesus, aka roger ver. Hell be here right after this break. Im melissa lee. Youre watchings cnbc, first in business worldwide vegas, baby, vegas thats right, baby. Sin city stocks are heating up and theres one stop that traders want to double down on well explain. Plus in the beginning there was one. jisann of montreal, quebec. Well, youre one of 200,000 fast money twitter followers thank you for your support of americas market show. Join us cnbcfastmoney and no, the account is not run by an intern whats Critical Thinking like . A basketball costs 14. Whats team spirit worth . cheers whats it worth to talk to your mom . Whats the value of a walk in the woods . The value of capital is to create, not just wealth, but things that matter. Morgan stanley welcome back to fast money. Bitcoin cash officially getting added to coinbase last night and surging 50 today, igniting a firestorm in the crypto community. For more, lets bring in a man who was one of the biggest supporters of bitcoin cash, known as Bitcoin Jesus because he was one of the First Investors in bitcoin itself. Roger ver joins us on the phone, thanks for coming back on fast money. Thanks for having me. Does the addition of bitcoin cash to coinbase accelerate your doomsday calls for bitcoin itself of course it accelerates the adoption of bitcoin cash bitcoin cash has all the characteristics that attracted me to bitcoin in the very first place in 2011 and what led me to become the first person in the world to start investing in cryptocurrency startups. Its cheap to use, fast, and reliable bitcoin and their Development Team have intentionally made their product slow and expensive to use and unreliable. You dont have to be a Rocket Scientist to figure out which will be more usable. I consider myself a neophyte compared to you and brian kelly here on the desk and so many others out there but what caught me off guard, the polarized community when it comes to bitcoin cash and bitcoin. Is there not a world, roger, where both can exist there should be but its really, really, really dangerous for bitcoin core holders because of the way the mining difficulty algorithm adjusts for bitcoin core if bitcoin cash becomes popular enough and siphons away enough from bitcoin core in a short enough period of time, bitcoin core is really in danger of coming to