Cardano Founder Criticizes Bitcoin's Quantum Solution, Claims it Won't Protect Satoshi's Coins

Bitcoin developers have proposed a plan to protect against quantum attacks by freezing 8 million coins. However, Cardano's Charles Hoskinson claims this plan is flawed and won't save Satoshi's coins. He believes the proposal, BIP-361, is mislabeled as a soft fork and actually requires a hard fork, which would invalidate existing signature schemes. Hoskinson argues that the proposal's zero-knowledge recovery plan cannot rescue approximately 1.7 million bitcoins created before 2013, including Satoshi's holdings, because they were generated using a different key derivation method. If the proposal passes, these coins would remain frozen. Hoskinson's criticism extends to Bitcoin's lack of formal on-chain governance, which he claims leaves the network unable to resolve tradeoffs through a structured process.