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

The Bitcoin development community is considering a novel approach to addressing the potential threat of quantum computing to the network's security. Instead of implementing a pre-emptive freeze on vulnerable wallets, the proposed 'canary' system would wait for a quantum-capable attacker to demonstrate their capabilities and then trigger a network-wide response. This approach is based on the assumption that the attacker would rather claim a bounty than exploit the vulnerability for personal gain. The system involves placing a small amount of bitcoin in a special address that can only be unlocked by a quantum-capable attacker, which would serve as proof of the threat and trigger a freeze on older wallets. This 'wait and react' strategy is designed to minimize disruptions to users while still protecting the network from potential threats. However, it relies on the uncertain assumption that the first entity to demonstrate quantum capabilities would prioritize claiming the bounty over carrying out a large-scale theft. The proposal also includes a 'safety window' to make stealth attacks more difficult and introduces a financial incentive for users to contribute to the bounty. While this approach may reduce the risk of premature disruption, it also raises concerns about the network's ability to respond effectively to a worst-case scenario.