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

A new proposal is being debated among Bitcoin developers, suggesting a change in the network's response to potential quantum computing threats. The idea is to delay taking action until an attacker demonstrates their capabilities, rather than implementing a pre-emptive freeze on vulnerable coins. However, this approach relies on the assumption that the attacker will choose to claim a bounty instead of exploiting the vulnerability for financial gain. The proposed 'canary' system involves placing a small amount of bitcoin in a special address that can only be accessed by a quantum-capable attacker, triggering a network-wide freeze if the funds are spent. This approach is seen as an alternative to a fixed five-year timeline for phasing out vulnerable addresses, which has been criticized for being 'authoritarian and confiscatory'. The new proposal includes a financial incentive for the first entity to demonstrate a quantum attack, as well as a 'safety window' to make stealth attacks more difficult. However, the plan's success hinges on the attacker's decision to claim the bounty, which may not be a reliable assumption given the potential rewards of a large-scale theft.