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

Bitcoin developers have proposed a solution to protect against quantum attacks by freezing 8 million coins. However, Cardano's Charles Hoskinson believes this solution is technically flawed and cannot safeguard the network's oldest coins, including those attributed to Satoshi Nakamoto. Hoskinson argues that BIP-361 requires a hard fork, as it invalidates existing signature schemes, and that the proposed zero-knowledge recovery plan is insufficient for coins predating 2013, including Satoshi's holdings. These early coins were generated using a different key derivation method and would remain frozen even if the proposal is adopted. The lack of formal on-chain governance in Bitcoin hinders the network's ability to resolve such tradeoffs through a structured process, leading to contentious upgrades being negotiated through developer mailing lists and social pressure.