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

The Bitcoin community is exploring a novel approach to mitigate the risks associated with quantum computing, which could potentially compromise the security of the network. Instead of implementing a pre-scheduled freeze on vulnerable coins, the proposed 'wait and react' strategy relies on a canary system that triggers a network-wide restriction only when a quantum-capable attacker demonstrates their capabilities. This approach is designed to provide a more flexible and adaptive response to the emerging threat. The system works by placing a small amount of bitcoin in a special address that can only be unlocked by a quantum-capable attacker, with any spend from that address serving as public proof that the threat has arrived. This would automatically trigger a network-wide freeze of older wallets. To incentivize the first entity to demonstrate a quantum attack, a bounty can be created, allowing users to contribute bitcoin to the address. The proposal also introduces a 'safety window' to make stealth attacks more difficult, during which vulnerable coins can still be moved, but the recipient would be unable to spend them for an extended period. While this approach reduces the risk of disrupting users prematurely, it relies on the assumption that the first entity capable of breaking Bitcoin would claim the bounty rather than executing a large-scale theft. This bet goes against the network's design principles, which prioritize security and resistance to protocol-level interventions. If the bet fails, Bitcoin may face the worst of both worlds – the catastrophe it was trying to prevent, and the realization that a fixed-timeline defense would have stopped it.