Nassim Nicholas Taleb and Jordan Peterson have recently engaged in a heated debate over the potential of Bitcoin to help alleviate financial difficulties. Despite Taleb's past positive stance towards cryptocurrency, the noted economist and author of The Black Swan has been highly critical of the primary digital asset in recent times. His disagreement with Peterson stems from the latter's suggestion that Bitcoin could be an alternative to banks like ANZ, which plans to cease cash withdrawals and limit ATMs, potentially disadvantaging those who rely on paper money like older individuals an those with disabilities. Taleb was critical of Peterson's suggestion, claiming that the Canadian professor is part of the 'bitcoin cartel.'

Taleb struck a negative tone in the summer of 2021, asserting that BTC shouldn't be considered money, and a store of value, or a digital representation of gold. Moreover, the economist contested the perception that it is a product designed by libertarians, calling it a mechanistic system with irreversible outcomes that go against the central libertarian tenants of the rule of law and trust. Furthermore, Taleb argued that Bitcoin is no safe haven asset as it behaves similarly to a bubble, affected by liquidity.

Although Taleb and Peterson may not agree on worth of Bitcoin, the current level of discussion does offer an insight into the potential of cryptocurrency to offer a viable alternative banking system, solving potential issues faced by those who may not have traditionally had access to paper money.



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