Cardano Founder Disputes Bitcoin's Quantum Solution, Claims It Won't Save Early Coins

Cardano's Charles Hoskinson has expressed his concerns over Bitcoin's proposed defense against quantum computers, stating that the solution, known as BIP-361, is technically flawed and would require a hard fork. He claims this approach would render approximately 1.7 million pre-2013 bitcoin, including Satoshi's coins, permanently frozen. Hoskinson's criticism stems from the fact that BIP-361 is presented as a soft fork, but he believes it would invalidate existing signature schemes, thus requiring a hard fork. Furthermore, he argues that the proposed solution's reliance on zero-knowledge proof tied to the BIP-39 seed phrase would not be able to rescue early coins generated using a different key derivation method. The debate surrounding BIP-361 highlights the challenges Bitcoin faces in resolving tradeoffs through a structured process, with Hoskinson emphasizing the need for formal on-chain governance.