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

The Bitcoin community is considering a novel approach to mitigate the risks associated with quantum computing, which could potentially compromise the network's security. Instead of imposing a pre-scheduled freeze on vulnerable coins, the proposed 'canary' system would trigger a network-wide restriction only if a quantum-capable attacker demonstrates its capabilities on-chain. This approach is based on a 'wait and react' strategy, where a small amount of bitcoin is placed in a special address that can only be unlocked by a quantum-capable attacker, serving as public proof that the threat has arrived and triggering a network-wide freeze. The proposal also includes a financial incentive, where users can contribute to a bounty that rewards the first entity to demonstrate a quantum attack publicly. However, this approach relies on the assumption that the first entity capable of breaking Bitcoin would claim the bounty rather than executing a large-scale theft, which is a bet that cuts against the network's design principles and historical resistance to protocol-level interventions.