emily: with -- we recently interviewed kathleen brightman who did not have nice things to say about ethereumhas been under pressure for the last few weeks, operating under the longer you freeze, the more you receive, but it's just inflation. >> ethereum is the new infrastructure on which these products are being built. tasers is a tiny fraction of the size and has a action of the developer community. part of the merge is going to lock up long-term investors, which allows them to earn a yield on their investment, which takes some out of the market and should be accretive to prices. i would put a positive frame on it, and the longer the investor, you will be able to access what amounts to a venture-style investment, where you could earn a yield that could be 8%, 9%, or 10% or more. i don't think it is a ponzi scheme. i think it is the new internet of finance and we are just at the beginning of that transition. emily -- sonali: speaking about transition and tribalism, when you look at how nascent ethereum is when it comes to valuation compared to bitcoin, who will win out? >> ethereum will win

emily: i want to bring in kathleen brightman she is cofounder of the blockchain platform, i am curiouss is playing out from your perspective, you are seeing these miners shutting down their operations in texas. what does this look like from inside the industry? >> i think the issue of mining in texas is fraught in both ways. unfortunately there are number people who nearly froze to death earlier this year because of similar issues with the energy grid. bitcoin miner's and promoters who tout the greatness of proof of work tend to argue that this is like a battery. that is not the case. a one-way battery is not a battery. a lot of the strength that has been argued about proof of work is that it is a source that can be tapped into, but it is a massive suck on the grid. emily: how do you see this playing out? i wonder if there is an upside forcing miners to think about how to make the process more sustainable? >> i cofounded cryptocurrency called tether which is proof of stake. most cryptocurrencies have launched a last few years use proof of stake because it is the best technology in clas