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

The Bitcoin community is considering a new approach to address the potential threat of quantum computing: instead of preemptively freezing vulnerable coins, the network would wait for an attacker to demonstrate their capabilities and then react. This 'wait and react' strategy is based on a 'canary' system, where a small amount of bitcoin is placed in a special address that can only be unlocked by a quantum-capable attacker. If the attacker succeeds in unlocking the address, it would trigger a network-wide freeze of older wallets. The proposal includes a bounty system, where users can contribute bitcoin to reward the first entity to demonstrate a quantum attack, rather than attempting to steal funds quietly. However, this approach relies on the assumption that the first attacker will choose to claim the bounty rather than attempting to steal millions of bitcoin, which may not be a reliable bet.