Charles Hoskinson Criticizes Bitcoin's Quantum Solution as a Hard Fork That Fails to Protect Satoshi's Coins

Bitcoin developers recently proposed a solution to protect against quantum attacks by freezing 8 million coins. However, according to Cardano founder Charles Hoskinson, this solution is still insufficient to safeguard the coins belonging to the network's creator, Satoshi Nakamoto. Hoskinson argues that the proposed defense, BIP-361, is technically flawed and would require a hard fork, which would invalidate existing signature schemes. He believes that this approach cannot recover approximately 1.7 million bitcoins created before 2013, including those associated with Satoshi's early mining activities, as they were generated using a different key derivation method. If the proposal is implemented, these coins would remain permanently frozen. Hoskinson's criticism extends beyond the technical aspects, arguing that Bitcoin's lack of formal on-chain governance hinders the network's ability to resolve such tradeoffs through a structured process.