Bitcoin Developers Propose 'Wait and React' Strategy Against Quantum Threats

The Bitcoin community is considering a novel approach to mitigate the potential risks posed by quantum computing: rather than enforcing a preemptive freeze on vulnerable wallets, the network would only take action if a quantum-capable attacker demonstrates their capabilities. This 'wait and react' strategy relies on the attacker claiming a bounty instead of exploiting the vulnerability for personal gain. The proposed system involves placing a small amount of bitcoin in a special address that can only be unlocked by a quantum-capable attacker, triggering a network-wide freeze of older wallets if the address is accessed. This approach is seen as an alternative to a controversial proposal that would impose a fixed five-year timeline for restricting older wallets, regardless of whether quantum computers pose a real threat. Critics argue that the fixed timeline approach undermines Bitcoin's core principle of private key holder control, and could result in the permanent freezing of unmigrated coins. The new proposal introduces a financial incentive for users to contribute to a bounty, which would reward the first entity to demonstrate a quantum attack publicly. However, this approach rests on the assumption that the first entity capable of breaking Bitcoin's security would claim the bounty rather than attempting a large-scale theft. This assumption has sparked debate, as it contradicts the network's historical emphasis on preventing worst-case scenarios and minimizing the risk of protocol-level interventions.