CryptoUpdated November 8

A Bitcoin developer proposes a quantum-theft trap.

Cory Fields’ thought experiment is meant to be set up before future quantum attacks become possible: a bitcoin owner prepares a separate quantum-safe landmine containing hidden proof of ownership. If someone later tries to move vulnerable bitcoin, the proposal would require matching collateral from a quantum-safe wallet. For example, a 1 BTC target would require another 1 BTC as collateral; both would be locked for a waiting period such as 30 days. The attacker would not know in advance which holdings were protected. If the owner revealed the proof during the wait, they could reclaim their coins and take the attacker’s stake. The catch is that legitimate holders moving vulnerable bitcoin could face the same collateral rule. The idea still depends on quantum-safe wallets and Bitcoin rules that have not been written.

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Coverage started November 6