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

Cardano's Charles Hoskinson has expressed concerns over Bitcoin's proposed defense against quantum computers, stating that it is technically flawed and incapable of safeguarding the network's oldest coins. In a video posted on his YouTube channel, Hoskinson argued that the proposed solution, BIP-361, is being misleadingly presented as a soft fork when it would actually require a hard fork, which could potentially split the network. He also pointed out that the proposal's zero-knowledge recovery plan would not be able to rescue approximately 1.7 million pre-2013 bitcoins, including those attributed to Satoshi Nakamoto, due to their use of an outdated key derivation method. Furthermore, Hoskinson criticized Bitcoin's lack of formal on-chain governance, which he believes hinders the network's ability to resolve tradeoffs and implement upgrades through a structured process.