Cardano Founder Disputes Bitcoin's Quantum Solution, Claims It Won't Protect Satoshi's Coins

Recently, Bitcoin's core developers suggested a plan to protect the network against quantum attacks by freezing 8 million coins. However, according to Cardano's Charles Hoskinson, this plan is technically incorrect and won't be able to safeguard the network's oldest coins, including the roughly 1 million bitcoin attributed to Satoshi Nakamoto. Hoskinson argues that the proposed solution, BIP-361, is being misleadingly presented as a soft fork when it would actually require a hard fork, as it would invalidate existing signature schemes. He also claims that the proposal's zero-knowledge recovery plan won't be able to rescue the approximately 1.7 million bitcoins that predate 2013, including those associated with Satoshi's early mining activity, because they were generated using a different key derivation method. Jameson Lopp, the core developer who co-authored BIP-361, has acknowledged that the proposal is not ideal and hopes it never needs to be adopted. Hoskinson's criticism extends beyond the technical details, arguing that Bitcoin's lack of formal on-chain governance makes it difficult to resolve tradeoffs through a structured process.