Jordan Peterson, a Canadian professor of psychology, and Nassim Nicholas Taleb, a Lebanese-American economist and author of “The Black Swan,” got into a Twitter argument over Bitcoin‘s potential to solve financial problems.
The former is a fierce opponent of the main coin, whereas the latter believes it may have advantages as the economy moves toward automation.
Taleb’s Warning
According to the Daily Mail, one of Australia’s top banks, ANZ, intends to stop allowing cash withdrawals from some of its locations. Additionally, it plans to drastically reduce the number of ATMs across the nation, considerably reducing the amount of paper money it can give customers.
Critics have warned that the rule may have an impact on elderly and disabled consumers who primarily use the physical currency.
Jordan Peterson, a well-known psychologist, thinks that people might concentrate on cryptocurrency instead of ANZ’s changes. In recent years, the appeal of the top digital commodity has increased in Australia. Over 90% of the locals, according to a study by Independent Reserve at the end of 2022, are aware of its presence, and one in four people holds cryptocurrency.
Peterson was wrong, and Nassim Taleb cautioned novice investors against taking his advice. He went on to say that the Canadian is a member of “the Bitcoin cartel.”
The Black Swan’s author previously supported cryptocurrencies, saying in 2019 that he chooses to engage in bitcoin and gold rather than cash, stocks, or bonds.
His optimistic outlook appears to have altered as a result of his Coinbase problems in 2020. He terminated his account on the site back then, saying it was uncooperative in addressing some technical issues.
In the summer of 2021, Taleb published a manifesto criticizing bitcoin, arguing that it shouldn’t be considered money, a source of value, or a virtual equivalent to gold. He also rejected the idea that Bitcoin was created with liberal principles:
“The belief that bitcoin is an offshoot of libertarian and Austrian economics has not a shade of backing… Libertarianism is fundamentally about the rule of law in place of the rule of regulation. It is not about the rule of rule – mechanistic, automated rules with irreversible outcomes… Nor is libertarianism about total distrust.”