Cardano Founder Challenges Bitcoin's Quantum Computing Solution, Claims It Won't Protect Satoshi's Coins

Bitcoin developers have suggested freezing 8 million coins to counter quantum attacks, but Cardano's Charles Hoskinson believes this approach is technically flawed and won't protect Satoshi's coins. In a recent video, Hoskinson argued that the proposed solution, BIP-361, is mislabeled as a soft fork and would actually require a hard fork, as it invalidates existing signature schemes. He claimed that the plan's reliance on zero-knowledge proofs tied to BIP-39 seed phrases won't work for approximately 1.7 million bitcoins created before 2013, including those associated with Satoshi. These early coins used a different key derivation method and would remain frozen even if their owners tried to migrate. Hoskinson's criticism extends beyond the technical aspects, arguing that Bitcoin's lack of formal on-chain governance hinders its ability to address such tradeoffs through a structured process.