Charles Hoskinson Criticizes Bitcoin's Quantum Solution, Claims it Won't Protect Satoshi's Coins

Recently, Bitcoin's core developers suggested freezing approximately 8 million coins to protect against quantum attacks. However, Charles Hoskinson, the founder of Cardano, believes this approach is still insufficient to rescue the coins owned by the network's pseudonymous creator, Satoshi Nakamoto, as stated in a video on his YouTube channel. Hoskinson argues that the proposed defense, known as BIP-361, is a hard fork in disguise, as it would invalidate existing signature schemes, and is therefore unlikely to be adopted by the Bitcoin community. Furthermore, he claims that the proposal's zero-knowledge recovery plan is flawed, as it cannot recover approximately 1.7 million pre-2013 bitcoin, including those associated with Satoshi's early mining activity, due to their reliance on a different key derivation method. Jameson Lopp, the core developer behind BIP-361, has expressed his own reservations about the proposal, describing it as a 'rough idea for a contingency plan' rather than a finalized specification. Hoskinson's critique extends beyond the technical aspects, arguing that Bitcoin's lack of formal on-chain governance hinders the network's ability to resolve tradeoffs through a structured process, instead relying on developer mailing lists and social pressure.