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

Bitcoin developers are considering a novel approach to addressing the potential threat of quantum computers to the network: instead of preemptively freezing vulnerable coins, they propose waiting for an attacker to demonstrate their capabilities and then reacting. This 'wait and react' strategy relies on 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. If the address is spent from, it would serve as public proof that the threat is real and trigger a network-wide freeze of older wallets. The proposal is designed to replace earlier plans for a pre-scheduled freeze and is based on the assumption that the first entity to demonstrate a quantum attack would claim a bounty rather than attempting to steal millions of bitcoin. The approach is intended to minimize disruption to users while also providing a financial incentive for attackers to reveal their capabilities. However, critics argue that this approach rests on an uncertain bet that the first entity capable of breaking Bitcoin would prioritize claiming a bounty over executing a large-scale theft.