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

The Bitcoin community is considering a novel approach to addressing the potential threat of quantum computing: rather than preemptively freezing vulnerable coins, the network would wait for an attacker to demonstrate their capabilities and then react. However, this strategy relies on the assumption that the attacker will prioritize claiming a bounty over maximizing their gains through theft. A recently published proposal outlines 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, triggering a network-wide freeze of older wallets once the threat is proven. This approach is designed to replace earlier plans for a pre-scheduled freeze, which some critics have labeled as 'authoritarian and confiscatory.' The proposal also includes a financial incentive, where users can contribute to a bounty that rewards the first entity to demonstrate a quantum attack, and introduces a 'safety window' to make stealth attacks more difficult. Nevertheless, the success of this strategy hinges on a critical bet: that the first entity capable of breaking Bitcoin's security will choose to claim the bounty rather than execute a potentially massive theft.