I am guessing that the media is overhyping Quantum Computing for their own benefit.

Unless you've been living under a rock, you’ve probably noticed the recent proliferation of striking headlines about revolutionary developments in quantum science and technology, amazing recent successes of world-changing quantum startups, and huge government and private investment in quantum computing to capitalize on the imminent second quantum revolution. Being a bit familiar with quantum physics and having recently spent some time trying to understand how the new “quantum industry” operates, I am getting more and more concerned that this recent quantum computing (QC) commotion is a self-perpetuating “intellectual” Ponzi scheme, a bubble, which may sooner or later crash and take legitimate research and innovation efforts down with it. To be sure there are gems in this "quantum technology space," but they are far and few between. Most ventures are questionable at best and are kept afloat by a huge & growing influx of funding, which is not based on any rational thinking or reasonable expectations.

It appears that the US government is pouring money into "quantum" because China seems to be doing the same. China is doing it presumably to compete with the US and EU, all racing to build a QC. The same "logic" probably applies to the major Big Tech companies (company G does it because company M does it and vice versa). Certain deeptech VCs want "quantum" in their portfolio not so much because they believe it will actually work (whatever "work" even means in this context), but to spice up their portfolio with cutting edge quantum stuff. It is often a purely PR move to lure unsuspecting investors, who have no idea what's going on, but don't want to miss out on the world-changing QC efforts.

This creates an unhealthy situation where there is too much easy money poured into a small niche nascent field, where the hype is based on unrealistic and in some cases simply false expectations. Crazy headlines abound: "quantum computing will change life as we know it," "quantum computing will solve global warming," "Quantum computing will revolutionize science and industry," etc etc. These statements are not based on any research or reality at all, they are not even wishful thinking. The number of known quantum algorithms, which promise advantage over classical computation, is just a few (and none of them will "solve global warming" for sure). More importantly, exactly zero such algorithms have been demonstrated in practice so far and the gap between what’s needed to realize them and the currently available hardware is huge, and it's not just a question of numbers. There are qualitative challenges with scaling up, which will likely take decades to resolve (if ever).

Arguably, there have been successes in “quantum simulation.” But here there is a problem with definition: What does “quantum simulation” actually mean? So far, it has mostly involved doing the same experiments, quantum experimentalists have been doing for decades anyway, but renaming the observed phenomena in a quantum-information-friendly way (for example, one can title a paper with identical content as either “Observation of a Mott insulator with [whatever]” or “Quantum simulation of a Mott insulator with [whatever] quantum computer”). The former will result in an unremarkable publication in a modest journal, the latter will be welcomed by a high-impact scientific magazine, receive prominent news coverage and potential investment into the revolutionary quantum simulation technology.

One can argue that there is nothing wrong with this modus operandi, as even if quantum computing does not deliver on its promises verbatim in the visible future (it won't) or never materializes at all, something good will still come out of this activity. This is actually true and there has already been some intellectually lively research activity with a number of exciting ideas (of relevance to fundamental science) spun by the QC hype. But there is also way too much noise and intellectual junk.

The problem is that the aforementioned situation with the wild influx of quantum money creates incentives for people with no relevant background or abilities to jump into the quantum field, and take advantage of it while the quantum bonanza lasts. There are many "quantum" startups and initiatives, which are promoted and often led by individuals with no relevant expertise or education. It is virtually impossible to make a meaningful impact in this high-end scientific research without proper education and experience. A successful company in the "quantum technology space" can not pop up like Facebook or TikTok or a similar dumbed down platform, based on a code written by a college drop out. What's needed is years of education, work, and dedication. But what's going on is that there is an army of "quantum evangelists" (an actual job title by a prominent quantum startup!)  who can't write the Schrödinger equation (or maybe don't even know what it is), but promote the fairy tales about the bounties of quantum computing revolution, which is supposedly just around the corner. They raise millions of dollars for their startups, which are guaranteed to go down the drain.

One may counter, by asking: who cares? So, VCs want to fund quantum startups to spice up their portfolio, so why is it a problem if some people get rich in the process and some investors lose money. Taken out of context, it is not a big problem per se, but it seems to produce a "chain reaction" of potentially more damaging consequences. I list some such (presumably undesirable) scenarios:

1. Brain drain of true talent. Apart from unqualified "quantum engineers," who poison the field with junk "science," it is understandable that many actually smart and gifted students, postdocs, and senior academics also want to participate in the quantum bonanza, while it lasts. It appears that in many cases (but not all, as there are certainly QC efforts, which undoubtedly produce top notch fundamental research in basic science), this leads to the situation where the researchers are forced to quit activities, they are actually good at and where they could have made real impact, and join the QC hype with its own weird rules. So, talent migrates from legitimate science into quantum evangelism with no content. Some do make money to be sure, but waste their gift and intellect on selling quantum snake oil (one interesting question to which the author has no answer: what’s “better,” brain drain of true talent into quantum computing or the financial industry? But it may not be a zero-sum game).

2. Quantum Ponzi schemes. Another danger is the appearance of (not only intellectual, but actual “old-fashioned”) Ponzi schemes to sustain QC startups for as long as possible. Unlike Theranos, where the underlying technology was supposed to be simple enough and so it was relatively straightforward to detect fraud, quantum technology is actually complicated. For example, one "service" QC companies can provide is access to their quantum hardware on the cloud hosted by Big Tech companies. Using these platforms, developers can write quantum codes and experiment with quantum computing. The truth of the matter is that both now and in the foreseeable future, there is nothing that a few-qubit QC can do that your old laptop can not do. It is unclear how exactly one can verify that a "quantum code" actually runs on a quantum computer (instead of a “classical node” inserted between the cloud and the QC provider), and there is a huge window for fraud there. Another "dangerous element" here is that there could be customers where data security is paramount (like banks etc) who may choose to use the QC "service" just for the publicity sake (imagine a headline "Bank X adds quantum computing to its toolbox to protect customer data"), without actually caring much about the content. So, even if there is a $700 laptop between the cloud and the QC hardware, doing all the “work,” it wouldn't matter too much. Everybody is happy: the QC company sells its “service,” the bank gets the attention-grabbing headline of “quantum security,” and the VC recoups its investment in the quantum technology that makes “dent in the universe” (part of an actual “quantum” job description by one of the BigTech companies; the position is still open at the time of writing). But something is obviously wrong with this scenario, where fake science is promoted. There are of course many more "opportunities" to fool investors and the public in such a complicated space. But the Ponzi schemes can not continue forever, and sooner or later they tend to crash wiping millions of dollars of investors' money.

3. Arguably, the worst possible outcome would be damage to the reputation of science as a whole. It's bad enough that some fields of science (epidemiology, climate science, etc) have been unnecessarily politicized and where some research results and conclusions can not be just published and discussed in an open and unbiased manner. Fortunately, for the exact sciences, like math and physics, it has not been really a problem there just yet. However, now some STEM fields are facing a different danger. The manifestly false promises of quantum computing, routinely made by unqualified individuals, and the high potential for fraud in the less-than-transparent business schemes of the QC companies operating in a fake-it-until-you-make-it market all but guarantee an eventual collapse. Investors will be eventually asking questions, taxpayers will be eventually asking questions, but there will be no good answers. The likely downfall of this enterprise could irreparably damage the reputation of science and scientists across the board. But for now, the quantum house of cards is simultaneously both alive and dead.

https://www.linkedin.com/pulse/quantum-computing-hype-bad-science-victor-galitski-1c

Comments like that show how unfamiliar you are with American history. America has been attempting to undermine the autocrats in power in Cuba since the 1960s certainly, and possibly before. The embargo is part of that effort (as misplaced as it is) and the interventions have included more active means like training resistance fighters or even invading the island (Bay of Pigs). Cuba always has the backing of Russia though, so you couldn’t just go in and “liberate” the people from the government. But as far as criticizing the autocrats? Do a google search man!

Coalition Of South Florida Mayors Urge Biden Administration To Step Up To Help Cuba, Haiti

MIAMI (CBSMiami) – A coalition of South Florida mayors held a meeting Saturday morning to discuss the current situations in Haiti and Cuba.

Miami Mayor Francis Suarez stood on the podium shortly after 10:30 a.m., joined by 9 other mayors from the League of Cities, including Miami-Dade Mayor Daniella Levine Cava.

“We are here united as one voice and as one group and we are going to be focusing on things that we want from the US government,” said Suarez.

“The second thing that we agreed was that the Cuban military and that is specifically individual members of the Cuban military, that carry out the orders of the Cuban government and repress the Cuban people and beat the Cuban people and harm the Cuban people that the United States of America do everything in its power to ensure that they will be met that those actions will be met with serious and severe consequences, whether they be prosecutions, whatever stream of consequences the United States in its broad array of powers can bring to bear on on these actors who are systematically beating their own people,” said Suarez.

Mayor Levine Cava said she had written a letter to President Biden asking him to take measures to help the people of Cuba and Haiti.

“Yesterday, I sent a letter to President Biden, and I called upon him to listen to the voices of our community, our community is uniquely positioned as the closest to those islands as the one that has benefited from the Diaspora from those two nations as the one that stands in solidarity, fighting for the well being of the people and the freedom for those people,” she said.

“We say to you, Mr. President, we need you to step up. We need you to do what other administrations have not done. We need you to listen to our voices and take concrete actions to protect our neighbors to protect our shores to protect the human Cuban and Haitian communities here in Miami Dade, and everyone who stands united.”

https://www.msn.com/en-us/news/us/coalition-of-south-florida-mayors-urge-biden-administration-to-step-up-to-help-cuba-haiti/ar-AAMgpkS

Treasury Secretary Janet Yellen held a meeting with federal regulators to discuss the need to come up with plans to regulate stablecoins.

Yellen met on Monday with the President’s Working Group on Financial Markets, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, according to the Treasury Department.

The eight people present discussed stablecoins’ rapid growth in popularity, payment uses, and risks, including to national security and the financial system. Yellen told those at the meeting, including Federal Reserve Chairman Jerome Powell, that the United States needs to “act quickly” to implement a regulatory framework.

“The group also heard a presentation from Treasury staff on the preparation of a report on stablecoins, which would discuss their potential benefits and risks, the current U.S. regulatory framework, and the development of recommendations for addressing any regulatory gaps,” Yellen’s office said in a readout of the meeting.

Stablecoins are a type of cryptocurrency that has generated attention in recent months. Stablecoins, such as Tether and USD Coin, have their value tied to another asset class, such as gold or fiat currency, and don’t fluctuate as wildly in value when compared to other cryptocurrencies, like Bitcoin, because they are asset-backed.

Powell was asked about stablecoins during two hearings he attended on Capitol Hill last week. He told lawmakers that it is “very important” to regulate them.

https://news.yahoo.com/yellen-led-regulators-plan-stablecoin-205800643.html

As Bitcoin’s price surged this spring to a new all-time high, the spotlight shining on its controversial mining process only got brighter. Bitcoin, Ethereum, and many other cryptocurrencies use an energy-intensive “proof-of-work” process that makes computers on its decentralized network compete to solve complex mathematical equations to verify a batch of transactions; this makes the network less susceptible to certain attacks, and earns miners crypto rewards.

Given the competitive element in the quest for valuable cryptocurrency, powerful mining rigs—essentially, PCs purpose-built to maximize mining rewards—are the preferred tool of serious crypto miners. They are expensive, and persistent demand and manufacturing delays can mean months-long waits for rigs to be delivered. This week, police in Malaysia crushed 1,069 of them with a steamroller.

Authorities in the city of Miri in Sarawak, Malaysia seized 1,069 rigs from miners alleged to have stolen electricity for their operations, per a report from local publication The Star. The devices were seized in a joint operation between Miri police and Sarawak Energy Berhad between February and April, and have an estimated value of RM5.3 million ($1.25 million USD), according to the outlet.

Six individuals were arrested for electricity theft in the operation, and “have been fined up to RM8,000 and jailed for up to eight months," according to a statement from Miri police chief ACP Hakemal Hawari that was quoted by The Star. Local Sarawak news outlet Dayak Daily adds that the rigs were collected over the course of six separate raids. Sarawak Energy Berhad estimates that it lost RM8.4 million ($2 million USD) in energy that was stolen from its lines for the mining operation, the outlet reported. Dayak Daily also uploaded a video to YouTube showing the miners being steamrolled.


Neither outlet stated why the police felt it was necessary to destroy the machines in such dramatic fashion, though it certainly sends a strong message. Electricity theft is a persistent issue in numerous regions where Bitcoin is mined, as some operators use illegal means to secure the cheap electricity necessary to make a big profit mining cryptocurrency.

"The electricity theft for mining Bitcoin activities has caused frequent power outages, and in 2021, three houses were razed due to illegal electricity supply connections," The Star quotes  Hawari as saying.

According to the report, the mining rigs were demolished in the parking lot of the Miri district police headquarters this week, as seen in the video above. Bitcoin enthusiasts might watch the video and see dreams of prospective crypto wealth crushed to bits, while anti-mining advocates are likely to see Bitcoin’s ecological impact being slightly curtailed amidst all of that e-waste.

Bitcoin’s distributed ledger design ensures the security and stability of the blockchain network, but the mining model requires exorbitant amounts of energy. Digiconomist estimates that the Bitcoin network now uses as much energy annually as the entire county of Sweden, and the energy use of the network is sure to rise as more mining power is added to the network (and vice versa).

The leading cryptocurrency’s early-year surge was halted in part by Tesla announcing in May that it would no longer accept Bitcoin payments, citing concerns over the use of fossil fuels in mining. It was an about-face for the electric car maker, which announced in February that it had purchased  $1.5 billion worth of Bitcoin to hold on its balance sheet, and soon after began accepting Bitcoin payments for a brief span.

Tesla CEO Elon Musk, the terminally-online Dogecoin memer, has since become reviled by many crypto enthusiasts for his perceived meddling in the scene, including the formation of a “Bitcoin Mining Council.” Bitcoin’s price fell swiftly following Tesla’s announcement, and at a current price just above $32,000 per coin, it’s worth about half of its all-time high set in April.

China’s increasing crackdown on cryptocurrency has also recently dampened enthusiasm around the industry. Crypto mining has been banned in multiple provinces, causing the Bitcoin network’s hash rate (or total computational power) to sink as miners shut down or move abroad. The People’s Bank of China also told top banks and payments services to root out cryptocurrency users and implement stricter know-your-customer processes.

Earlier this week, the Ukrainian Security Service (SBU) similarly busted a crypto mining operation for allegedly stealing electricity from a nearby regional energy provider. That bust had its own unique hook: some 3,800 PlayStation 4 consoles made up the majority of the seized devices, as the systems had apparently been modified to mine an unidentified cryptocurrency. Game consoles are significantly less powerful than dedicated PC mining rigs, but there’s still potential for profit when the energy cost is zero.

https://www.vice.com/en/article/7kv739/police-destroy-1069-bitcoin-miners-with-big-ass-steamroller-in-malaysia