Bitcoin Developers Propose Alternative Quantum Attacker Plan with 'Wait and React' Strategy

A recent proposal by BitMEX Research has sparked debate among Bitcoin developers regarding the network's response to potential quantum computing threats. The proposed 'wait and react' strategy involves creating a special address containing a small amount of bitcoin that can only be unlocked by a quantum-capable attacker, triggering a network-wide freeze of older wallets if the threat is proven real. This approach is designed to replace earlier plans for a pre-scheduled freeze, which has been met with criticism for being 'authoritarian and confiscatory.' The new proposal introduces a bounty system, where users can contribute bitcoin to incentivize the first entity to demonstrate a quantum attack, rather than exploiting vulnerable wallets for personal gain. However, this approach relies on the assumption that the first attacker will claim the bounty instead of maximizing profits through theft, which raises concerns about the potential risks and consequences. The proposal also includes a 'safety window' to prevent stealth attacks, allowing vulnerable coins to move but restricting their use for an extended period. While the 'wait and react' strategy aims to minimize disruptions to users, it ultimately rests on the bet that the first capable attacker will prioritize the bounty over executing a potentially catastrophic theft.