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Bitcoin Is The Societal Foundation For Truth – Bitcoin Magazine

Truth, Goodness, Beauty. The ancient Greeks identified these three transcendental virtues as the requisite underpinning for individual fulfillment and broader societal flourishing. They also believed that all humans have innate capacities that correspond to each of these values. Logos (reason) allows access to truth, ethos (morality) to goodness, and pathos (emotion) to beauty.

I believe each one of us resonates most strongly with one of these three virtues. Some people are naturally inclined to seek out truth, others goodness, and still others beauty. You can think of the archetypal scientist, servant, and artist, with each one of us being composed of some unequal mixture of the three. While these three virtues are all critical for life to thrive, there exists a natural order among the three. Understanding the dependencies this order implies can inform the proper structuring of successful human organizations.

The natural order begins with truth, flows to goodness, and ultimately comes to fruition in beauty. Mahatma Gandhi said it well when he said Truth is the first thing to be sought for, and beauty and goodness will then be added unto you. If this is true, then the best and most beautiful societies are first and foremost built on foundations of truth. The stronger the foundation, the grander and more beautiful the result (*). Since societies are fundamentally a continual and ever-evolving exchange of value between interdependent entities, the medium of said exchange is the foundation. All actions, all complexity derives from the properties of this medium of exchange. Bitcoins rules-based system lays perhaps the strongest foundation conceivable and therefore its success is paramount for life on earth to take its next great leap forward.

Life is mysterious and miraculous but in many ways it is also discernible and rational. While lifes origins remain unknown, it is clear that life unfolds and proliferates according to a set of unchanging universal physical laws. That is to say, life itself is downstream of truth. The periodic table, the laws of gravity, thermodynamics and magnetism all provide a stable and predictable matrix upon which complexity self-constructs. Without these bedrock truths, nothing so complex as an amoeba would be able to exist, much less evolve from scratch. But thankfully amoebas did evolve and so did humans. The universe is a richer place for it.

Life is good! If you have a soul or even an imagination, chances are you agree that the universe would be tragically boring if no life existed. There is thus something ineffably right and deeply good about maintaining and nurturing life in all its myriad forms. Not all actions contribute to sustaining life however, and the ones that do not are often lacking in goodness, untethered from truth. Bad actions undermine lifes ever-increasing complexity, reducing things to simpler states. War is a prime example of this and is predicated on the falsehood that every action does NOT have an equal and opposite reaction. Implicit in the logic of war is that by stealing with force the life and livelihood of other people, the victors can enjoy a more abundant and fruitful existence. While this may be true for some individuals for some amount of time, it neglects the fact that every individual is part of a larger whole which is inclusive of all life, even of their innumerable descendants. The net effect of war therefore is greater impoverishment for life on earth and thus contrary to all parties interests. Peace on the other hand is good because it acknowledges the truthful oneness of all life. With peace comes trust and trade, specialization, increased complexity, and the flowering of civilization. Good actions then, rooted in truth, lead to flourishing which is another way of saying beauty. This is true on all scales, from the molecular level to the cellular level, all the way to global human civilization. Truth leads to goodness which produces beauty.

The goal then if one wishes to live in a better, more beautiful world, is to anchor oneself as firmly as possible to truth, to tap into that deep truthful flow of life. Life is good. Go with the flow. Easy. Done. Reality however is messy and confusing. There are many overlapping currents, most of which are man-made and ephemeral, but the current of truth is deeper and all-powerful. Mystics and wisemen throughout history have found it and tapped into it. Breaking through the noise to find this current and maintaining the conviction to remain attached despite the countervailing forces requires uncommon courage and strength. Sadly the great masses of people have often been too preoccupied with basic needs to attain this level of human fulfillment, and hence societies built upon truth have proven to be rare, fragile and brief. Could it be then, that the pervasive ugliness of todays culture, the failure to achieve greatness, the acceptance of trash as art, and the enshrinement of victimhood as a virtue stems from our collective unmooring from truth? I believe so. The fiat money paradigm we exist in today profoundly pollutes the communication and transfer of value between all economic actors and depends upon ignorance to persist. It is a house of cards built on lies. Bitcoin fixes this.

Bitcoin is like a universal API for truth. It provides a standard, global, unstoppable portal to access truth and this portal is open to everyone on the planet. While some may say its just a glorified spreadsheet, this misses the profound implications that global dynamic consensus entails. I say dynamic because theres actually not much value in simple, static, global consensus. We all agree that the sky is blue, yet that is not especially useful, much less the basis upon which to construct a thriving civilization. It doesn't do anything towards unlocking latent human potential.

The magic of Bitcoin is that there is a new global consensus achieved every 10 minutes, and any human that plugs into the network can literally contribute to each change in the consensus. Furthermore, any human can peacefully maintain a piece of this consensus through HODLing and need only relinquish this control through consent. Its more than just property rights, its also the right to transfer these rights to anyone else in the world. Its worth considering that for a moment. Its something like granting every human in the world the ability to implant a thought into every other humans mind every 10 minutes. While the analogy is far from perfect, it does point to the vast increase in individual agency that Bitcoin ushers in. Universal transferable property rights that no one can mess with is a huge deal because it empowers every human to reach into themselves and deploy their talents towards fruitful endeavors. This is true because those individuals now have the unalienable right to hold onto the just rewards of their labors. But it also tears down walls by opening an economic connection between every single human being. A fully connected human population of 8 billion people would imply roughly 32 quintillion connections. The network effect of this is staggering to consider as is the remaining potential for growth. If you assume there are currently 100 million people who hold bitcoin, then its journey to 8 billion participants would result in the current number of possible economic connections to multiply by 6,400 times.

I contend therefore, as many others have, that if society migrates to a bitcoin standard, that an emergent order predicated on truth and embodying goodness will prevail. The result will be a proliferation of beauty and ultimately an explosion of human flourishing. This doesnt just happen however. It requires that we act and that our actions be rooted in truth and thus facilitate its spread.

For that reason Ive begun a project called the Bitcoin Tree Forum, the aim of which is to experiment with new forms of civic organization tied to Bitcoin. The Bitcoin Tree Forum is meant to promote low time-preference behavior and is thus focused on directing human action and value towards projects with long time horizons and beautiful results. Running a public node and planting a grove of long-lived trees such as giant sequoias are the first and most accessible steps towards that worthy goal. In my next piece I will introduce the concept in more detail. Ill be the first to admit that this concept is aspirational, experimental and vaguely quixotic, but nonetheless it is my hope that 1000 years from now people will look upon Bitcoin Tree Forums as one of the many examples of Bitcoins beautifying impact on society.

(*) Footnote

In previous centuries, societies used religion as a shared portal to truth and therefore as a way to mobilize human capital. While one may argue today with the veracity of some religions claims, religion nonetheless was a shared idea with shared truths that bound many disparate individuals together. This had an enlivening and enriching effect on society, however was vulnerable to becoming unmoored as scientific advancement undermined some religions claims and therefore attractiveness. This process has been playing out for over 100 years and has contributed enormously to the fracturing of society. This is not to suggest that religion is bad or unworthy of pursuit; quite the contrary. In its most sincere expression religious organization can bring out the very best of humanity and connect individuals to the most profound truth. I believe thriving religious communities are necessary for a healthy society. The diverse globally-connected world we live in now however precludes any one religion from serving the role as global social anchor to truth. Without this anchor humanity can not reach its full potential. Bitcoin is not a religion. But because of its universality, neutrality, and transparent objectivity, it is an idea that can replace and even advance some of the social benefits that religion traditionally serves.

This is a guest post by Fangorn. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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How Much Of My Portfolio Should Be Allocated To Bitcoin? – Bitcoin Magazine

When people first get into bitcoin as a savings device, or when traditional finance-type people look at it as a potential investment, theyre quickly faced with the sizing problem. What proportion of my assets should I put in this new and promising asset class?

For most maxis, this question is on the ridiculous side: naturally, as much as humanly (or prudently) possible. Die-hard maxis borrow fiat to acquire more sats the Pierre Rochard speculative attack. If you hold any other asset than BTC, you're effectively shorting bitcoin; you dont want to short bitcoin.

If we step back for a moment into the shoes of the risk/diversification strategies of less-convinced and more risk-averse fund managers or regular people, bitcoin is only a question of prudent sizing. If you cant stand 100%, and 0% is too low whats a reasonable proportion?

Earlier this summer, Paul Tudor Jones described what he wanted with bitcoin as a portfolio diversifier The only thing I know for certain, I want 5% in gold, 5% in bitcoin, 5% in cash, 5% in commodities."

Between 1% and 5% is a common allocation suggestion, even among crypto-curious people mostly, I suspect, because 5% is a nice, easy number (e.g. few people will target a 7.648% allocation). Other recommendations have ranged from low single-digit percentages to upwards of 10%. Single-digit allocations are far from uncommon: even some high-profile university endowments seem to have something like that.

Of course, since things move fast in this space, if youre targeting a proportion, you also need a rule for when to rebalance your portfolio, and by how much. If you constantly rebalance your bitcoin holdings into other assets if and when bitcoin increases in value, you're missing out on a lot of that potential upside and might lose an unacceptable amount in tax liabilities and trading fees. That's usually fine if all youre after is a little extra return on top of an otherwise traditional investment thesis, but quite disastrous if bitcoin indeed repeats its tendencies for mulitplying by 10 times its value. In those cases, your meagre extra return is going to look like the people who bought cars or yachts for bitcoin in 2013: terribly expensive.

Economists Yukun Liu and Aleh Tsyvinski of Yale and Rochester universities respectively, concluded in a three-year-old paper that an exposure to bitcoin of between 1% and 6% was the optimal size, depending on how high you projected its future annual excess returns (30, 50, 100, or 200% respectively). These figures are old by now and weve had large-scale retail and institutional adoption since, which seems to have increased the correlation with the overall market. Presumably, too, as I have argued elsewhere, the return profile also has to come down. In the view of Liu and Tsyvinski, both those factors ought to reduce the optimal bitcoin allocation to a portfolio. William Baldwin at Forbes writes, correctly in my opinion, that

...bitcoins history is short. It is one thing to look back on a century of history for stocks and bonds and draw conclusions about how much return and how much volatility you can expect from them. It is quite another to extrapolate anything from the freakish first decade of a virtual object.

Joe Weisenthal at Bloomberg frequently points out that bitcoin has become eerily correlated with other risk-on assets:

One of Bitcoins big selling points is its diversification benefits, but these days it's almost tick-by-tick just your standard risky asset. It could be a cloud stock or Tesla. Or heck, even gold.

And Amy Arnott for Morningstar, showing that BTCs relation to other assets is changing:

As mainstream investors increasingly embrace bitcoin, its value as a diversification tool is diminishing; as a result, theres no guarantee that adding bitcoin will improve a portfolios risk-adjusted returns, especially to the same extent it did in the past.

Now, bitcoin isnt actually trading on forward-looking inflation expectations, but is far more susceptible to real interest rates of which inflation is only a part over and above to specific events like China miner scares or Elon Musk tweets, anyway. This is how it shares a relation with gold, whose main drawback as a financial asset is its opportunity cost in a high-interest environment. If you dont think that is coming back, stacking sats is a pretty opportunity-cost free investment choice.

The sound investment advice of not putting all your eggs in one basket has its academic-finance version in diversification. That doesnt just mean to hold stocks in a few different companies, if all those companies are exposed to the same risks or more or less trade identically to one another and with central banks running their money printers hot, everything is slowly becoming the same trade. The theoretical point of whats known as modern portfolio theory is that different segments of your portfolio compensate for other segments such that random shocks, good or bad, results in having most of your nest egg intact regardless of what happens. You want uncorrelated (or negatively-correlated) assets such that in case of emergencies or one-off events, you preserve your savings.

For a long-term investor, managing his or her own funds (or maybe that of a household) and planning over decades, that might not be such a crucial thing. The advice for regular people to dollar-cost average into passive mutual funds or such is precisely this: you are not using the funds in the next 5, 10 or 20 years, and so the worth to you of having a smoother portfolio trajectory makes less sense. What you want is returns over decades in practice meaning until you retire. Even accounting for financial medias incessant complaints about price volatility seems to make very few dents in the financial case for this asset. Bitcoins Sharpe ratio, i.e., its returns in relation to its volatility, routinely outperforms most other assets:

Riskadjusted returns is calculated using Sharpe ratio over a 4-year HODL period, courtesy of Willy Woo

That is to say, even ignoring its obscure early days, a few years HODLing of bitcoin more than enough paid for its short-term price risks.

It's important to remember that all of these rules are generic and not catered to your financial situation. In fairness, responsible asset advisors couldnt publicly give much more specific guidance in interviews that are read by millions, i.e., speak to the financial conditions of whom they know very little. To give blanket statements of 2% or 5% or 10% of your savings is completely detached from three crucial elements of your life:

These criteria will look different for all of us, and knowledge and understanding of how bitcoin works as well as how the incumbent monetary and financial system surrounds all of these criteria. In general, the deeper you go down the rabbit hole, the more convicted you become of bitcoins long-term price potential, and therefore the more comfortable you become with a higher allocation share of assets.

The allocation issue is a lot more complicated than a single number. In the limit, you might not even consider BTC part of the rest of your investment portfolio, but a free-floating independent asset to which you have full uninterruptible ownership.

This is a guest post by Joakim Book. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Why Bitcoin, Ethereum, and Dogecoin Are All Soaring Today – The Motley Fool

What happened

Bitcoin(CRYPTO:BTC),Ethereum(CRYPTO:ETH), andDogecoin(CRYPTO:DOGE) are up 6.82%, 8.16%, and 8.36% in the past 24 hours. As of 10:30 a.m. EDT, they are now trading at $48,518.76 per coin, $3,293.94 per token, and $0.3319 apiece, respectively.

Earlier in the day,Coinbase Global(NASDAQ:COIN), the second-largest cryptocurrency exchange in the world, announced it would be adding $500 million worth of cryptocurrency to its balance sheet. The move sent the whole sector into a monstrous rally. Coinbase stock is also up 3.10% to $255.98 per share in the same period.

Image source: Getty Images.

It's not just Coinbase's big move that investors are happy about. On Aug. 19, the second-largest mortgage lender in the U.S., UWM Holdings, announced it would start accepting Bitcoin for home loans. The adoption could take effect by the end of the third quarter, and the company is also considering adding other cryptocurrencies like Ethereum into the mix.

Speaking of Ethereum, it was revealed on the same day that the Ethereum 2.0 staking contract had become the largest holder of Ether -- at $21.3 billion. The news illustrates growing confidence in the Ethereum Foundation's transition to its 2.0 network. By the end of 2022, Ethereum will run a proof-of-stake protocol, which its development team estimates will cut its energy use by 99% -- essentially wiping out concerns about its environmental sustainability.

As for Dogecoin, the once-meme digital currency is growing in recognition. During popular discount brokerageRobinhood Markets' earnings release on Aug. 18, the company disclosed that Dogecoin accounted for 62% of cryptocurrency revenue in the second quarter. The same day, Ethereum's founder Vitalik Buterin announced he would be joining the development team behind Dogecoin as a board member.

Dogecoin is leaving behind its reputation as a joke cryptocurrency. Since the beginning of the year, the number of merchants accepting Doge as payment has grown by 34.7% to 1,616. In addition, the network has found its unique niche due to its slight inflationary nature. Dogecoin miners do not face the threat of their high-tech GPU mining rigs becoming redundant with the rise of PoS protocols. At the same time, the mining isn't so difficult as to induce heavy electricity use.

Bitcoin's slow, archaic, and environmentally unfriendly protocol is finally getting an overhaul, too. In a rare act of solidarity, miners worldwide reached the consensus for Bitcoin's Taproot upgrade, which will allow smart contract adoption on its network and is scheduled to take effect in November. Bitcoin has no central development team, so it's up to a unanimous vote from miners to upgrade the world's biggest cryptocurrency. The last one happened four years ago.

Overall, investors' fear, uncertainty, and doubt -- known in the cryptocurrency world as FUD -- regarding the sector in Q2 are melting away very quickly as new innovations are beginning to address these issues. It's looking like the start of the next bull run for the cryptocurrency sector.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Experiments Prove Quantum Computing Errors Correlated, Tied to Cosmic Rays – SciTechDaily

In experiments performed at the University of Wisconsin-Madison, researchers found that fluctuations in the electrical charge of multiple quantum bits, or qubits, can be highly correlated, as opposed to completely random and independent. The team also linked tiny error-causing perturbations in the qubits charge state to the absorption of cosmic rays. Credit: Illustration courtesy of UW-Madison

Research by aLawrence Livermore National Laboratory(LLNL) physicist and a host of collaborators is shedding new light on one of the major challenges to realizing the promise and potential of quantum computing error correction.

In a new paperpublished inNatureand co-authored by LLNL physicist Jonathan DuBois, scientists examined quantum computing stability, particularly what causes errors and how quantum circuits react to them. This must be understood in order to build a functioning quantum system. Other co-authors included researchers at theUniversity of Wisconsin-Madison,Fermi National Accelerator Laboratory, Google,Stanford Universityand international universities.

In experiments performed at UW-Madison, the research team characterized a quantum testbed device, finding that fluctuations in the electrical charge of multiple quantum bits, or qubits the basic unit of a quantum computer can be highly correlated, as opposed to completely random and independent. When a disruptive event occurs, such as a burst of energy coming from outside the system, it can affect every qubit in the vicinity of the event simultaneously, resulting in correlated errors that can span the entire system, the researchers found. Additionally, the team linked tiny error-causing perturbations in the qubits charge state to the absorption of cosmic rays, a finding that already is impacting how quantum computers are designed.

For the most part, schemes designed to correct errors in quantum computers assume that the errors across qubits are uncorrelated theyre random. Correlated errors are very difficult to correct, said co-author DuBois, who heads LLNLs Quantum Coherent Device Physics (QCDP) Group. Essentially, what this paper is showing is that if a high-energy cosmic ray hits the device somewhere, it has the potential to affect everything in the device at once. Unless you can prevent that from happening you cant perform error correction efficiently, and youll never be able to build a working system without that.

Unlike bits found in classical computers, which can exist only in binary states zeroes or onesthe qubits that make up a quantum computer can exist in superpositions. For a few hundred microseconds, data in a qubit can be either a one or zero before being projected into a classical binary state. Whereas bits are only susceptible to one type of error, under their temporary excited charge state, the delicate qubits are susceptible to two types of error, stemming from changes that can occur in the environment.

Charged impulses, even minute ones like those from cosmic rays absorbed by the system, can create a blast of (relatively) high-energy electrons that can heat up the quantum devices substrate just long enough to disrupt the qubits and disturb their quantum states, the researchers found. When a particle impact occurs, it produces a wake of electrons in the device. These charged particles zoom through the materials in the device, scattering off atoms and producing high-energy vibrations and heat. This alters the electric field as well as the thermal and vibrational environment around the qubits, resulting in errors, DuBois explained.

Weve always known this was possible and a potential effectone of many that can influence the behavior of a qubit, DuBois added. We even joked when we saw bad performance that maybe its because of cosmic rays. The significance of this research is that, given that sort of architecture, it puts some quantitative bounds on what you can expect in terms of performance for current device designs in the presence of environmental radiation.

To view the disruptions, researchers sent radio frequency signals into a four qubit system and, by measuring their excitation spectrum and performing spectroscopy on them, were able to see the qubits flip from one quantum state to another, observing that they all shift in energy at the same time, in response to changes in the charge environment.

If our model about particle impacts is correct, then we would expect that most of the energy is converted into vibrations in the chip that propagate over long distances, said UW-Madison graduate student Chris Wilen, the papers lead author. As the energy spreads, the disturbance would lead to qubit flips that are correlated across the entire chip.

Using the method, researchers also examined the lifetimes of qubits the length of time that qubits can remain in their superposition of both one and zero and correlated changes in the charge state with a reduction in lifetime of all the qubits in the system.

The team concluded that quantum error correction will require development of mitigation strategies to protect quantum systems from correlated errors due to cosmic rays and other particle impacts.

I think people have been approaching the problem of error correction in an overly optimistic way, blindly making the assumption that errors are not correlated, said UW-Madison physics professor Robert McDermott, senior author on the study. Our experiments show absolutely that errors are correlated, but as we identify problems and develop a deep physical understanding, were going to find ways to work around them.

Though long theorized, DuBois said the teams findings had never been experimentally proven in a multi-qubit device before. The results will likely impact future quantum system architecture, such as putting quantum computers behind lead shielding or underground, introducing heatsinks or dampers to quickly absorb energy and isolate qubits, and alter the types of materials used in quantum systems.

LLNL currently has aquantum computing testbed system, designed and built with funding from a Laboratory Directed Research and Development (LDRD) Strategic Initiative that began in 2016. It is being developed with continued support by the National Nuclear Security Administrations Advanced Simulation & Computing program and its Beyond Moores Law project.

In related follow-on work, DuBois and his team in the QCDP group are studying a quantum device that is significantly less sensitive to the charge environment. At the extreme cold temperatures required by quantum computers (systems are kept at temperatures colder than outer space), DuBois said researchers observe that thermal and coherent energy transport is qualitatively different from room temperature. For example, instead of diffusing, thermal energy can bounce around in the system like sound waves.

DuBois said he and his team are focused on understanding the dynamics of the microscopic explosion that occurs inside quantum computing devices when they interact with high energy particles and developing ways to absorb the energy before it can disrupt the delicate quantum states stored in the device.

There are potentially ways to design the system so its as insensitive as possible to these kinds of events, and in order to do that you need to have a really good understanding of how it heats up, how it cools down and what exactly is happening through the whole process when exposed to background radiation, DuBois said. The physics of whats going on is quite interesting. Its a frontier, even aside from the quantum applications, because of the oddities of how energy is transported at those low temperatures. It makes it a physics challenge.

DuBois has been working with the papers principal investigator McDermott (UW-Madison)and his group to develop ways to use qubits as detectors to measure charge bias, the method the team used in the paper to conduct their experiments.

Reference: Correlated charge noise and relaxation errors in superconducting qubits by C. D. Wilen, S. Abdullah, N. A. Kurinsky, C. Stanford, L. Cardani, G. DImperio, C. Tomei, L. Faoro, L. B. Ioffe, C. H. Liu, A. Opremcak, B. G. Christensen, J. L. DuBois and R. McDermott, 16 June 2021, Nature.DOI: 10.1038/s41586-021-03557-5

The featured work, including DuBois contribution, was funded by a collaborative grant between LLNL and UW-Madisonfrom the U.S.Department of Energys Office of Science.

The paper included co-authors from UW-Madison, the Fermi National Accelerator Laboratory, the Kavli Institute for Cosmological Physics at the University of Chicago, Stanford University, INFN Sezione di Roma, Sorbonne Universites Laboratoire de Physique Theorique et Hautes Energies and Google.

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Deloitte’s quantum computing leader on the technology’s healthcare future – Healthcare IT News

Quantum computing has enormous potential in healthcare and has started to impact the industry in various ways.

For example, quantum computing offers the ability to track and diagnose disease. Using sensors, quantum technology has the ability to track the progress of cancer treatments and diagnose and monitor such degenerative diseases as multiple sclerosis.

The tech also can help modernize supply chains. Quantum technology can solve routing issues in real time using live data such as weather and traffic updates to help determine the most efficient method of delivery. This would have been particularly helpful during the pandemic since many states had issues with vaccine deliveries.

Elsewhere, quantum technology can impact early-stage drug discovery. Pharmaceuticals can take a decade or longer to bring to market. Quantum computing could lower the costs and reduce the time.

"In the simplest terms, quantum computing harnesses the mysterious properties of quantum mechanics to solve problems using individual atoms and subatomic particles," explained Scott Buchholz, emerging technology research director and government and public services CTO at Deloitte Consulting. "Quantum computers can be thought of as akin to supercomputers.

"However, today's supercomputers solve problems by performing trillions of math calculations very quickly to predict the weather, study air flow over wings, etc.," he continued. "Quantum computers work very differently they perform calculations all at once, limited by the number of qubitsof information that they currently hold."

Because of how differently they work, they aren't well suited for all problems, but they're a fit forcertain types of problems, such as molecular simulation, optimization and machine learning.

"What's important to note is that today's most advanced quantum computers still aren't especially powerful," Buchholz noted.

"Many calculations they currently can do can be performed on a laptop computer. However, if quantum computers continue to scale exponentially that is, the number of qubitsthey use for computation continues to double every year or so they will become dramatically more powerful in years to come.

"Because quantum computers can simulate atoms and other molecules much better than classical computers, researchers are investigating the future feasibility of doing drug discovery, target protein matching, calculating protein folding and more," he continued.

"That is, during the drug discovery process, they could be useful to dramatically reduce the time required to sort through existing databases of molecules to look for targets, identify potential new drugs with novel properties, identify potential new targets and more."

Researchers also are investigating the possibility of simulating or optimizing manufacturing processes for molecules, which potentially could help make scaling up manufacturing easier over time. While these advances won't eliminate the lengthy testing process, they may well accelerate the initial discovery process for interesting molecules.

"Quantum computing may also directly and indirectly lead to the ability to diagnose disease," Buchholz said. "Given future machines' ability to sort through complex problems quickly, they may be able to accelerate the processing of some of the techniques that are being developed today, say those that are designed to identify harmful genetic mutations or combinations.

"Indirectly, some of the materials that were investigated for quantum computers turned out to be better as sensors," he added. "Researchers are investigating quantum-based technologies to make smaller, more sensitive, lower-power sensors. In the future, these sensors and exotic materials may be combined in clever ways to help with disease identification and diagnosis."

Quantum computers will improve the ability to optimize logistics and routing, potentially easing bottlenecks in supply chains or identifying areas of improvement, Buchholz said.

Perhaps more interestingly, due to their ability to simulate molecular interactions, researchers are looking at their ability to optimize manufacturing processes to be quicker, use less energy and produce less waste, he added. That could lead to alternative manufacturing techniques that could simplify healthcare supply chains, he noted.

"Ultimately, the promise of quantum computers is to make some things faster like optimization and machine learning and make some things practical like large scale molecular and process simulation," he said.

"While the technology to solve the 'at scale' problems is still several years in the future, researchers currently are working hard today to put the foundations in place to tackle these problems as the hardware capacity of quantum computers advances.

"Should the hardware researchers achieve some of the sought after scalability breakthroughs, that promise could accelerate," he concluded.

Twitter:@SiwickiHealthITEmail the writer:bsiwicki@himss.orgHealthcare IT News is a HIMSS Media publication.

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Urgent Warning Issued Over The Future Of Bitcoin Even As The Crypto Market Price Smashes Past $2 Trillion – Forbes

Bitcoin and cryptocurrencies have seen a huge resurgence over the last year following the brutal so-called crypto winter that began in 2018.

The bitcoin price has this year climbed to never-before-seen highs, topping $60,000 per bitcoin before falling back slightly. Other smaller cryptocurrencies have risen at an even faster clip than bitcoin, with many making percentage gains into the thousands.

Now, as bitcoin and cryptocurrencies begin to carve out a place among traditional assets in investor portfolios, technologists have warned that advances in quantum computing could mean the encryption that underpins bitcoin is "fundamentally" undermined as soon as 2026unless the software is updated.

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The bitcoin price has risen many hundreds of percent over the last few years but quantum computing ... [+] could spell the end of bitcoin and cryptocurrencies unless urgent action is taken.

"Quantum computers, expected to be operational by around 2026, will easily undermine any blockchain security systems because of their power," says the founder of quantum encryption company Arqit, David Williams, speaking over the phone. Arqit is gearing up for a September SPAC listing in New York.

"There needs to be rather more urgency," Williams adds.

Quantum computing, which sees traditional computer "bits" replaced with quantum particles (qubits) that can calculate information at vastly increased speed, has been in development since the 1990s. Researchers at universities around the world are now on the verge of creating a working quantum computer, with search giant Google and scientists from the University of New South Wales in Sydney, Australia, recently making headlines with breakthroughs.

Williams, pointing to problems previously identified by the cofounder of ethereum and creator of cardano, Charles Hoskinson, warns that upgrading to post-quantum algorithms will "dramatically slow blockchains down" and called for blockchain developers to adopt so-called quantum encryption keys.

"Blockchains are effectively fundamentally flawed if they dont address the oncoming quantum age. The grownups in the room know what's coming."

Others have also begun working on getting bitcoin and other blockchains ahead of quantum computing.

"If this isn't addressed before quantum computers pose a threat, the impact would be massive," says Duncan Jones, head of quantum cybersecurity at Cambridge Quantum Computing, speaking via email. "Attackers could create fraudulent transactions and steal currency, as well as potentially disrupting blockchain operations."

Earlier this month, Cambridge Quantum Computing, along with the Inter-American Development Bank and Tecnolgico de Monterrey, identified four potential threats to blockchain networks posed by quantum computers and used a post-quantum cryptography layer to help protect them.

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"Time is of the essence here," says Jones, pointing to Google chief executive Sundar Pichai's prediction that encryption could be broken in as little as five to 10 years. "It's important for decentralized networks to start this migration process soon because it requires careful planning and execution. However, I'm hopeful the core developers behind these platforms understand the issues and will be addressing them."

Recently, it's been reported that China is pulling ahead in the global quantum race, something Williams fears could undermine both traditional and crypto markets to the same degree as the 2008 global financial crisis.

"On day one, the creation of a quantum computer doesn't break everything," says Williams. "It will probably initially happen in secret and the information will slowly leak out that the cryptography has been broken. Then there will be a complete loss of confidence, similar to how the global financial crisis saw confidence in the system disintegrate."

With more than 11,000 different cryptocurrencies now listed on crypto data website CoinMarketCap and competition between bitcoin and other major cryptocurrencies reaching fever pitch, adding protection against the coming quantum revolution could be beneficial.

"If any one blockchain company could deliver proof it's quantum-safe it would have an advantage," says Williams.

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Urgent Warning Issued Over The Future Of Bitcoin Even As The Crypto Market Price Smashes Past $2 Trillion - Forbes

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Sumitomo Corporation Quantum Transformation (QX) Project Announces Its Vision and Activities at the IEEE Quantum AI Sustainability Symposium – Yahoo…

- New social paradigm shift "QX" is right around the corner -

TOKYO, August 23, 2021--(BUSINESS WIRE)--Sumitomo Corporation Quantum Transformation (QX) Project will present at the IEEE Quantum AI Sustainability Symposium on September 1st, 2021. The QX Project was launched in March 2021 by Sumitomo Corporation, a global Fortune 500 trading and investment company, with the intent to provide new value to society by applying quantum computing technology to the wide-ranging industries in which the company operates. This is the worlds first project that defines "Quantum Transformation (QX)" as the next social paradigm shift, beyond "Digital Transformation (DX)".

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210823005255/en/

Sumitomo Corporation Quantum Transformation (QX) Project Announces Its Vision and Activities. (Graphic: Business Wire)

The founder and head of the QX Project, Masayoshi Terabe, will present about the vision and activities of QX at the IEEE Quantum AI Sustainability Symposium. The organizer "IEEE" is the world's largest technical professional organization for the advancement of technology. In this talk, he will show how quantum computing can contribute to sustainability. For example, he will introduce the Quantum Sky project, which is a pilot experiment for developing flight routes for numerous air mobility vehicles by quantum computing. Also you can find other concepts like Quantum Smart City and Quantum Energy Management.

The objective of the QX Project is to create new value to the society by combining vast business fields of Sumitomo Corporation throughout its more than 900 consolidated companies, from underground to space, and an extensive number of business partners around the world.

A broad and deep ecosystem is necessary to achieve QX. This is because combining a wide range of technologies, not limited to quantum, and working with a crossover of various industries, is essential. If you are interested in this project, lets take on the challenge of creating a new business, and a new society together!

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210823005255/en/

Contacts

Contact info:Luke Hasumura, responsible for Vision & Ecosystem on Quantum Transformation.qx@sumitomocorp.com +81-3-6285-7489

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Sumitomo Corporation Quantum Transformation (QX) Project Announces Its Vision and Activities at the IEEE Quantum AI Sustainability Symposium - Yahoo...

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Energy Department Sets $61M of Funding to Advance QIS Research – MeriTalk

The U.S. Department of Energy (DOE) has announced $61 million in funding for infrastructure and research projects to advance quantum information science (QIS).

Specifically, the DOE is supplying $25 million in funding for creating quantum internet testbeds, which will advance foundational building blocks including devices, protocols, technology, and techniques for quantum error correction at the internet scale.

The DOE also is providing $6 million in funding for scientists to study and develop new devices to send and receive quantum network traffic and advance a continental-scale quantum internet.

Lastly, the DOE granted $30 million of funding to five DOE Nanoscale Science Research Centers to support cutting-edge infrastructure for nanoscience-based research to strengthen the United States competitiveness in QIS and enable the development of nanotechnologies.

Harnessing the quantum world will create new forms of computers and accelerate our ability to process information and tackle complex problems like climate change, said U.S. Secretary of Energy Jennifer M. Granholm in a statement. DOE and our labs across the country are leading the way on this critical research that will strengthen our global competitiveness and help corner the markets of these growing industries that will deliver the solutions of the future.

The DOE recognized the advantages of QIS back in 2018 when it became an integral partner in theNational Quantum Initiative, which became law in December 2018. Since then, the DOE Office of Science has launched a range of multidisciplinary research programs in QIS, including developing quantum computers as testbeds, designing new algorithms for quantum computing, and using quantum computing to model fundamental physics, chemistry, and materials phenomena.

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Climate Deniers and the Phantom Arsonists They Can’t Get Enough Of – Gizmodo

Last week, California authorities announced that they had arrested a college professor under suspicion of starting several fires near the Dixie Fire, which has ballooned since starting in July to become the second-largest fire in state history. Like clockwork, the tweets started.

Climate change to blame for college professor setting destructive Dixie fire in California, noted rightwing ghoul Ann Coulter tweeted. New tactic: set wildfires, blame climate change, another MAGA account wrote, with a link to the news story. Other conservatives jumped on the bandwagon.

Nevermind the fact that the professor is only charged in setting one fire or that Californias largest utility, PG&E, has stepped forward and claimed that their faulty equipment may have had some role in sparking the Dixie Fire just like it has for so many other big blazes. The existence of a single arsonist seems to give deniers like Coulter a completely false line of rhetoric to claim that concerns about climate change are overblown. These types of headlines create one of the handiest excuses for climate deniers like Coulter to wielda criminal to pin the disaster on. Its an increasingly common tactic as the impacts of climate changeand the publics desire to reduce the use of fossil fuels and mitigate those impactsbecome nigh impossible to ignore.

Arson is easy [for deniers] because it actually exists, it has a ring of plausibility, said Stephan Lewandowsky, a psychologist at the University of Bristol. Blaming [a fire] on an arsonist means it wasnt climate change. You can say, if it hadnt been for this bad guy, there wouldnt have been this bushfire.

Arsonists are nothing new. But they account for just 7% of all fires ignited in California, making intentionally lit fires a small portion of all blazes. Large actors like utilities such as PG&Ewhich pled guilty to 84 counts of manslaughter last year for its role in the deadly 2018 Camp Fireaccount for a bigger chunk as do unintended sparks from campfires, burning debris, and vehicles. For anyone not steeped in climate denial, its easy to see how arson can coexist with other factors like climate change and poor forest management to create enormous and dangerous wildfires. Human-sparked fires are intensified by human-caused intense heat and drought and spread in forests mismanaged by humans for decades.

The tweets around the Dixie Fire have echoes of a hoax that spread across social media in early 2020, when rumors flew that arson, not climate change, was really to blame for the devastating Australia bushfires. Similar misinformation spread last fall that antifa was behind some of Oregons most destructive wildfires on record, which led to right-wing vigilantes setting up unofficial armed checkpoints to catch the culprits. All of this is easily debunked.

But in a summer of seemingly endless wildfires occurring around the world that featured the hottest month in recorded history, arsonists are still getting an undue amount of attention. Claims of arson have sprung up in the wake of Turkish wildfires, with government officials and an army of Twitter bots and trolls pushing the theory. Other leaders in Mediterranean countries also besieged by fires have made sometimes confusing claims about the causes of the fires, putting heavy emphasis on the role of arsonists. In Algeria, 22 people have been arrested in conjunction with causing the fires that have killed at least 71 people, and a lynch mob even killed another man accused of arson.

Still, its hard to see how some people could earnestly think that a global horde of arsonists are somehow singlehandedly causing increasingly devastating wildfires, all while arguing the overheating planet plays no roleor cling to that explanation even as we repeatedly see other types of intensifying climate disasters.

Denial is an intriguing phenomenon because it occurs in situations where you think, Jesus, you know... really? Lewandowsky said, comparing some forms of climate denial to a covid-19 patient on their deathbed refusing to believe the disease is real. The function behind denial is often emotional regulation. When something becomes too upsetting, its easier to deny than to confront that problem. If you own a home thats been consumed by wildfires, its easier for some people to say, no, thats arson, so they can blame somebody, than to accept that its climate change, which is something they have no control over. At least in principle you have control over an arsonist.

I asked Lewandowsky whether he thought there was something special about arson that drew deniers to this explanation over others. Was it a conservative impetus to create a criminal, or some sort of us-versus-them mentality at work, or just a basic misunderstanding of how science works?

I dont think theres a deep connection between arson and conservative thought, he said. I think its just whatever is plausible.

John Cook, a research fellow at the Climate Change Communication Research Hub at Monash University and the founder of the Skeptical Science blog, agreed with Lewandowsky when I asked him the same question. I think [deniers] like any explanation of the cause thats not human-caused climate change, he said. Cook pointed out that one of the GOPs most contentious new members of Congress, Marjorie Taylor Greene, has floated the conspiracy theory that space lasers operated by Democrats were responsible for starting the Camp Fire. Its even more unhinged than the claims of arson, yet is still an explanation accepted as plausible in some QAnon circles. Regardless of the phenomenon, theyll always grasp at any alternative explanation, Cook said.

In this context, its clear that deniers continual use of arson to deny climate change isnt mixed up in any kind of reality, but rather an expression of pure denial psychology and a drive to create control. That, in turn, makes it easier to see the similarities between blaming fires on arson and other factors. Last week, the Washington Post reported on how some conservative towns in Oregon in the path of the Bootleg Fire were still skeptical about climate change, instead attributing the fire to forest mismanagement and acts of God even as it raged towards their homes.

Unfortunately, seeing arson as just another tactic in the climate denial playbook means that getting through to people who are set in their denial is that much harder. Cook told me about research that shows that people with strong climate denial views didnt shift those viewpoints when they experienced extreme weather or disasters. That means some people are going to keep clinging to any explanation for wildfires that isnt climate change, from arson to space lasers. Explaining the relationship between fossil fuel use and rising temperatures probably wont do any good when it comes to your uncle yelling about antifa and arson while Tucker Carlson blasts in the background.

Generally speaking, the odds of changing the mind of your cranky uncle are almost nothing, Cook said, before pausing for a beat. That said, my dad was a climate denier, and I was not getting anywhere with my arguments with him, but I still talked to him over a period of years. At some point, he just switched and stopped being a climate denier.

I dont think theres any killer argument or anything. I still think theres value in talking to people, be empathetic about their positionbut be realistic about the odds of changing their minds.

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Climate Deniers and the Phantom Arsonists They Can't Get Enough Of - Gizmodo

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Data Mining Tools Fight COVID-19 Misinformation and Identify Symptoms – Health Bollyinside – BollyInside

Much of the work using Google Trends for flu has focused on forecasting the flu season, Papalexakis said. We, on the other hand, used it to see if we could find a needle in a haystack: symptoms unique to COVID-19 among all the flu-like symptoms people search for. The researchers located symptoms on Google Trends for 2019 and 2020 and used a technique they called nonnegative discriminative analysis, or DNA, to extract terms that were unique to one dataset relative to the other.

We assumed that symptom searches in 2019 would lead to influenza or other respiratory ailments, while searches for the same symptoms in 2020 could be either, Chen said. Using DNA, we were able to find the difference between the two datasets. This happened to be terms clinicians have already identified as unique to COVID-19, showing that our approach works. The paper, COVID-19 or Flu? Discriminative Knowledge Discovery of COVID-19 Symptoms from Google Trends Data, was presented at epiDAMIK 2021, a workshop on data mining for advancing epidemiological knowledge. The workshop was organized as part of the largest annual data science conference, the Association for Computing Machinerys, or ACM, Special Interest Group on Knowledge Discovery and Data Mining. The paper is available here.

Chen said that the algorithm is simple and easy to implement as part of a potential tool that can help scientists researching other diseases learn about potential symptoms. Papalexakis and UC Riverside doctoral student William Shiao are also developing a tool that not only identifies COVID-19 misinformation but shows why the information is flagged as false in relation to a database of scientific articles about research on coronaviruses.

Google trends data is very noisy, but hospital data is not publicly available. People might search for symptoms because they are experiencing them or because they have heard of them and want to know more, Papalexakis said. Searches reflect interest in symptoms better than people actively experiencing them, but given the lack of other data, we think this tool could help researchers understand symptoms better. Papalexakis and Chen expect their work will help epidemiologists and other public health experts track and monitor COVID-19 using Google Trends as a proxy for hospital data.

When tested on articles that had been labeled by humans as false or identified by Google Fact Check as false, their method not only correctly identified the false stories but also pointed to the scientific sources that corroborated the systems decision. Papalexakis and Shiao used 90,000 articles from the COVID-19 Open Research Dataset Challenge (CORD-19) prepared by the White House and a coalition of research groups, and collected 20,000 articles in the wild with misinformation about the novel coronavirus. Using a similarity matrix-based embedding method they called KI2TE, the articles were linked to a set of reference documents and interpreted. The documents used for reference were a set of academic papers on coronavirus research included in the CORD-19 dataset.

Although the tool developed by Papalexakis and Shiao is a prototype under active research development, it could eventually be incorporated into a smartphone app or into social media platforms like Facebook. The results of this research were presented at the Knowledge Graphs for Online Discourse Analysis workshop organized as part of the ACM Web Conference, and the paper, KI2TE: Knowledge-Infused InterpreTable Embeddings for COVID-19 Misinformation Detection, is available here. We are not interested in censoring what people see. We want to go beyond hiding something altogether or simply showing a warning label, Papalexakis said. We want to also show them sources to educate them.

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Data Mining Tools Fight COVID-19 Misinformation and Identify Symptoms - Health Bollyinside - BollyInside

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