Black Swan Author Claims Crypto Fad Fading as Youngsters Shift Focus to AI

Nassim Nicholas Taleb, the renowned author of "The Black Swan" and a vocal critic of cryptocurrencies, has once again expressed his skepticism towards the asset class. In a recent tweet, Taleb stated that the hype surrounding bitcoin and alternative coins is waning, as young people are now turning their attention to Artificial Intelligence (AI). However, he didn't spare AI from criticism either, describing it as another "infatuation" similar to digital currencies. Taleb's tweet concluded with the Latin phrase "successore novo vincitur omnis amor," which translates to "all love is conquered by a new successor." This suggests that he believes one infatuation will be replaced by another over time. While some Twitter users agreed with Taleb's observation about the shift in focus towards AI, others disagreed, asserting that the crypto industry is still thriving and capturing widespread attention. Indeed, cryptocurrencies have shown signs of revival this year, with bitcoin surging over 80% year-to-date. Major financial players have also shown interest in the space, with several companies filing for spot Bitcoin ETFs in the United States. The dispute between Taleb and Canadian psychology professor Jordan Peterson further highlights the contrasting views on cryptocurrencies. Taleb is known for his anti-crypto stance, while Peterson sees potential in Bitcoin as a solution to financial issues, particularly related to the withdrawal of physical cash from some bank branches. Despite Taleb's criticism, the crypto market continues to attract attention and investment. Bitcoin's impressive performance and the success of certain altcoins, such as XRP after Ripple's legal victory against the SEC, demonstrate the ongoing interest and potential of the digital asset sector. In conclusion, the crypto industry continues to generate both enthusiasm and criticism from various experts and commentators. As new technologies and trends emerge, the dynamics of the market may evolve, but the ongoing interest from investors and financial giants suggests that cryptocurrencies are here to stay, at least for the foreseeable future.