Nasim Nicholas Taleb – Author of “Black Swan” and one of cryptocurrency’s biggest critics, Nasim Nicholas Taleb has launched a new bashing manifesto against the asset class.
He believes the enthusiasm around bitcoin and alternative coins is starting to fade as young people’s attention shifts to artificial intelligence (AI).
latest criticism
In one of his recent tweets, Taleb claimed that the crypto hype was “starting to die down” due to the new passion of young people, artificial intelligence (AI). But he was also unfavorable with the latter, describing it (as with digital currency) as “crazy.”
He concluded with the Latin phrase “successore novo vincituromnis amor”, which literary translates as “all love is conquered by a new successor”.
The cryptocurrency craze is starting to wane as many of the dreamy youngsters who love to play with computers in their mother’s basement are addicted to AI.
To replace one infatuation you need another infatuation.
— Nasim Nicholas Taleb (@nntaleb) July 21, 2023
Some Twitter users who commented on Taleb’s post shared different positions.For example, graphic designer, artist and author Mike Sheratt was suggested Cryptocurrencies “are still thriving and are getting everyone’s attention,” he said. He agreed that while AI is interesting, it cannot replace the digital asset space.
Cryptocurrencies have been showing signs of a resurgence since the beginning of the year, and they seem to be slowly coming out of their prolonged bear market dominance. Bitcoin has soared more than 80% year-to-date.
This leading digital asset has also caught the attention of a number of financial giants, including BlackRock, Fidelity, Invesco and Van Eck, who have applied to launch spot BTC ETFs in the US.
A possible go-ahead from the US Securities and Exchange Commission (SEC) could further boost investor enthusiasm.
Alternative coins have also shown impressive performance, with XRP being the most obvious example. Ripple recently soared to almost $1 (its last valuation was over a year ago) after its landmark legal battle with the SEC.
The Taleb and Peterson Controversy
As crypto potato report In March, the author of “Black Swan” got into a Twitter altercation with Canadian psychology professor Jordan Peterson. They had completely different views on Bitcoin, which seemed to be the main reason for the clash.
It all started when Peterson shared news about Australia’s largest bank, ANZ, and its intention to stop cash withdrawals from some of its branches. Experts warn that the policy could affect older customers and others with disabilities who mostly rely on physical cash. “Bitcoin solves this,” argued Peterson.
True to his anti-cryptocurrency vision, Taleb went against psychologists. He went even further, claiming that Peterson was “the owner of the Bitcoin cartel.”
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