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, suggesting it is technically flawed and will not protect the network's oldest coins, including those belonging to Satoshi Nakamoto. Hoskinson argues that the proposed solution, BIP-361, is being misrepresented as a soft fork when it would actually require a hard fork, which would invalidate existing signature schemes. He claims that this approach cannot recover approximately 1.7 million bitcoin that predate 2013, including those associated with Satoshi's early mining activity, due to differences in key derivation methods. Bitcoin core developer Jameson Lopp has acknowledged that the proposal is not ideal and hopes it will not be necessary, while Hoskinson's critique extends to Bitcoin's lack of formal on-chain governance, which he believes hinders the network's ability to resolve such tradeoffs through a structured process.