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

Cardano's Charles Hoskinson has expressed concerns over Bitcoin's proposed solution to defend against quantum attacks, stating that it is not only mislabeled but also incapable of protecting the network's oldest coins. Bitcoin's core developers recently suggested freezing 8 million coins to defend against quantum attackers. However, Hoskinson believes this solution, BIP-361, is being misrepresented as a soft fork when it would actually require a hard fork, which could invalidate existing signature schemes. He argues that this approach cannot rescue approximately 1.7 million bitcoin that predate 2013, including those associated with Satoshi Nakamoto, due to their use of a different key derivation method. Hoskinson 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. Jameson Lopp, co-author of BIP-361, has acknowledged that the proposal is not ideal and hopes it will never be adopted. The debate highlights the challenges Bitcoin faces in addressing quantum vulnerabilities while maintaining its core principles.