Bitcoin Developers Consider a 'Wait and React' Approach to Mitigate Quantum Computing Threats

The Bitcoin community is exploring a novel approach to address the potential risks posed by quantum computing: instead of imposing a preemptive freeze on vulnerable coins, the network would wait for an attacker to demonstrate their capabilities and then react. However, this plan relies on the assumption that the attacker will choose to claim a bounty rather than exploiting the vulnerability for personal gain. A recent proposal outlines a system where a small amount of bitcoin is placed in a special address that can only be unlocked by a quantum-capable attacker, triggering a network-wide freeze of older wallets once the threat is proven. This approach is seen as an alternative to a fixed five-year timeline for phasing out vulnerable addresses, which has been criticized for being overly restrictive. The new proposal introduces a financial incentive, allowing users to contribute to a bounty that rewards the first entity to demonstrate a quantum attack, while also implementing a 'safety window' to make stealth attacks more difficult. Nevertheless, the plan's success hinges on the uncertain bet that the first quantum-capable attacker will prioritize claiming the bounty over executing a potentially massive theft.