Cardano Founder Claims Bitcoin's Quantum Solution is a Hard Fork that Fails to Protect Satoshi's Coins

Cardano's Charles Hoskinson has expressed concerns over Bitcoin's proposed defense against quantum attacks, stating that it is mislabeled and cannot protect the network's oldest coins. He believes that BIP-361, which aims to phase out quantum-vulnerable addresses, would functionally require a hard fork due to its invalidation of existing signature schemes. Hoskinson argues that this approach cannot rescue roughly 1.7 million pre-2013 bitcoins, including those associated with Satoshi Nakamoto, as they were generated using a different key derivation method. The proposal suggests using zero-knowledge proofs tied to BIP-39 seed phrases for recovery, but Hoskinson claims this method is ineffective for coins that predate BIP-39's introduction in 2013. He also criticizes Bitcoin's lack of formal on-chain governance, which he believes hinders the network's ability to resolve tradeoffs through a structured process.