• Nassim Nicholas Taleb, author of the book “The Black Swan,” started an argument on Twitter with Canadian professor Jordan Peterson over Bitcoin’s potential to ease monetary issues.
• ANZ, one of Australia’s leading banks, is planning to cut down its ATMs across the country and stop cash withdrawals from some of its branches, which could affect older customers and those with disabilities who rely on physical cash.
• Jordan Peterson believes Bitcoin could be an alternative to ANZ’s changes, while Nassim Taleb disagrees and warns inexperienced investors about the risks.
Nassim Nicholas Taleb – a Lebanese-American economist known as the author of the book “The Black Swan” – started a quarrel on Twitter with the Canadian professor of psychology – Jordan Peterson – over bitcoin’s possible capability to ease monetary issues. The former is a keen critic of the primary cryptocurrency, while the latter thinks it could provide benefits in times when the economy marches towards digitization.
As reported by Daily Mail, one of Australia’s leading banks – ANZ – plans to cease cash withdrawals from some of its branches. In addition, it intends to cut down its ATMs across the country, significantly reducing the amount of paper money it could provide to clients. Critics have alerted that the policy could affect older customers and those with disabilities who predominantly rely on physical cash.
Jordan Peterson’s Opinion
The renowned psychologist – Jordan Peterson – believes people could focus on bitcoin as an alternative to ANZ’s amendments. The leading digital asset has surged its popularity in the Land Down Under over the past few years. An Independent Reserve survey conducted at the end of 2022 estimated that over 90% of locals are aware of its existence, while every fourth individual is a crypto HODLer.
Nassim Taleb’s Warning
Nassim Taleb disagreed with Peterson and warned inexperienced investors about risks associated with digital assets such as Bitcoin and other cryptocurrencies. He emphasized that these investments should be handled carefully due to their volatile nature and lack of regulation in most countries worldwide.
It appears that both Nassim Taleb and Jordan Peterson agree that cryptocurrencies can offer benefits in times when economies are marching towards digitization; however they disagree when it comes to advice for inexperienced investors – while Professor Peterson sees them as a viable alternative for reducing cash supply limitations imposed by ANZ Bank policies, Mr Tales warns against investing without proper research into risk management strategies first.