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

Recently, Bitcoin's core developers proposed a solution to defend against quantum attacks by freezing 8 million coins. However, according to Cardano founder Charles Hoskinson, this plan still falls short in protecting the network's oldest coins, including the approximately 1 million bitcoin attributed to Satoshi Nakamoto. Hoskinson claims that BIP-361 is mislabeled as a soft fork and would actually require a hard fork, as it would invalidate existing signature schemes. He believes this approach cannot rescue the roughly 1.7 million bitcoin that predate BIP-39's introduction in 2013, including Satoshi's coins, due to their use of a different key derivation method. If implemented, these coins would remain permanently frozen, regardless of any migration attempts. Hoskinson's critique extends to Bitcoin's lack of formal on-chain governance, which he argues hinders the network's ability to resolve such tradeoffs through a structured process.