Bitcoin Developers Propose 'Wait and React' Strategy to Counter Quantum Computing Threat

The Bitcoin community is considering a new approach to addressing the potential threat of quantum computing to the network's security. Instead of implementing a scheduled freeze on vulnerable coins, developers are proposing a 'wait and react' strategy that would only trigger a network-wide restriction if a quantum-capable attacker demonstrates their capabilities. This approach, outlined in a proposal by BitMEX Research, involves placing a small amount of bitcoin in a special address that can only be unlocked by a quantum-capable attacker, thereby serving as public proof of the threat and triggering a network-wide freeze. The proposal also includes a bounty system to incentivize the first entity to demonstrate a quantum attack, as well as a 'safety window' to make stealth attacks more difficult. However, this approach relies on the assumption that the first entity capable of breaking Bitcoin's security would claim the bounty rather than executing a large-scale theft, which is a risk that cuts against the network's design principles and historical resistance to protocol-level interventions.