Black Swan Author Sees ‘Crypto Fad Beginning at Peter’ as Youngsters Turn to AI

Nassim Nicholas Taleb – the author of the book “The Black Swan” who is among the biggest critics of crypto – has launched another smear manifesto against the asset class.

He thinks the mania surrounding bitcoin and alternative coins has started to fade because young people have turned to artificial intelligence (AI).

The last dose of criticism

In one of his recent tweets, Taleb claimed that the crypto hype is “starting to die down” due to the new passion of young people: artificial intelligence (AI). However, he was also not kind to the latter, describing it as a “craze” (much like digital currencies).

He concluded his message with the Latin phrase “successore novo vincitur omnis amor”, which literally translates to “all love is conquered by a new successor”.

The crypto craze is starting to wane, as many of those fancy young adults who love playing with computers in their mothers’ basements are now falling in love with AI.

Another infatuation is needed to displace an infatuation: successe novo vincitur omnis amor.

—Nassim Nicholas Taleb (@nntaleb) July 21, 2023

Some Twitter users who commented on Taleb’s post shared different stances. For example, graphic designer, artist and author Mike Sheratt suggested that crypto “is still booming and grabbing everyone’s attention.” He agreed that AI is intriguing, but it cannot replace the digital asset industry.

The crypto has shown signs of recovery since the start of the year, and it looks like it is gradually escaping the grip of the prolonged bear market. Bitcoin has jumped over 80% since the start of the year.

The first digital asset has also caught the attention of many financial giants, such as black rockFidelity, Invesco, VanEck and others who have filed to launch a spot BTC ETF in the US.

A possible green light from the US Securities and Exchange Commission (SEC) could fuel additional enthusiasm among investors.

Alternative coins have also shown impressive performance, with XRP being the most obvious example. It recently soared to nearly $1 (a valuation last seen over a year ago) after Ripple notched a historic victory in its legal battle against the SEC.

The Taleb–Peterson dispute

As CryptoPotato reported in March, the author of “The Black Swan” started a Twitter feud with Canadian psychology professor – Jordan Peterson. They have totally different views on Bitcoin, which seemed to be the main reason for the clash.

It all started when Peterson announced the news of Australia’s leading bank – ANZ – and its intention to stop cash withdrawals from some of its branches. Experts have warned that the policy could affect older customers and people with disabilities who rely primarily on physical cash. “Bitcoin fixes that,” Peterson argued.

True to his anti-crypto outlook, Taleb disagreed with the psychologist. He went even further, claiming that Peterson “is owned by the Bitcoin Cartel.”