Charles Hoskinson of Cardano Claims Bitcoin's Quantum Solution is a Hard Fork that Fails to Rescue Satoshi's Coins

Earlier this week, Bitcoin's core developers proposed a solution to defend against quantum attacks by freezing 8 million coins. However, according to a video posted by Cardano founder Charles Hoskinson, this solution is still insufficient to protect the coins belonging to the network's creator, Satoshi Nakamoto. Hoskinson argues that the proposed defense, BIP-361, is both technically incorrect and structurally flawed, as it would require a hard fork to invalidate existing signature schemes. He claims that this approach would render roughly 1.7 million pre-2013 bitcoins, including those associated with Satoshi, irretrievable due to their reliance on an outdated key derivation method. Hoskinson criticizes the lack of formal on-chain governance in Bitcoin, which hinders the network's ability to resolve such tradeoffs through a structured process.