Charles Hoskinson of Cardano Claims Bitcoin's Quantum Solution is a Hard Fork that Fails to Protect 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's founder Charles Hoskinson, this solution would still be unable to protect the coins belonging to the network's creator, Satoshi Nakamoto. Hoskinson argues that the proposed defense, BIP-361, is mislabeled as a soft fork and would actually require a hard fork, as it would invalidate existing signature schemes. He claims that this approach would not be able to rescue approximately 1.7 million bitcoins created before 2013, including those associated with Satoshi, due to their use of a different key derivation method. The proposal's author, Jameson Lopp, has acknowledged that the proposal is not ideal and hopes it will never need to be adopted. Hoskinson's criticism extends beyond the technical aspects, arguing that Bitcoin's lack of formal governance hinders its ability to resolve such tradeoffs through a structured process.