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

Bitcoin developers have proposed a solution to defend against quantum attacks by freezing 8 million coins. However, Charles Hoskinson, founder of Cardano, believes this solution is inadequate to protect Satoshi Nakamoto's coins. In a recent video, Hoskinson argued that the proposed solution, BIP-361, is mislabeled as a soft fork and would actually require a hard fork due to its impact on existing signature schemes. He also stated that this approach cannot recover approximately 1.7 million bitcoins created before 2013, including those associated with Satoshi Nakamoto, as they were generated using a different key derivation method. Hoskinson criticized Bitcoin's lack of formal on-chain governance, which hinders the network's ability to resolve tradeoffs through a structured process.