Charles Hoskinson Criticizes Bitcoin's Quantum Solution as Insufficient to Protect Satoshi's Holdings

Recently, Bitcoin's core developers suggested a plan to protect the network from quantum attacks by freezing 8 million coins. However, according to Cardano founder Charles Hoskinson, this plan is flawed and cannot safeguard the coins belonging to Satoshi Nakamoto. Hoskinson claims that the proposed solution, BIP-361, is mislabeled as a soft fork and would actually require a hard fork, which would invalidate existing signature schemes. Furthermore, he argues that this approach cannot recover approximately 1.7 million bitcoins created before 2013, including those associated with Satoshi, as they were generated using a different key derivation method. This would leave these coins permanently frozen, even if their owners attempt to migrate them. Hoskinson also criticizes Bitcoin's lack of formal on-chain governance, which he believes hinders the network's ability to resolve such issues through a structured process.