Charles Hoskinson Criticizes Bitcoin's Quantum Computing Fix, Claims It Won't Protect Satoshi's Coins

Cardano's Charles Hoskinson has expressed concerns over Bitcoin's proposed defense mechanism against quantum attacks, stating that the current plan is fundamentally flawed and cannot protect the network's earliest coins, including those belonging to Satoshi Nakamoto. He believes that the proposed solution, BIP-361, is incorrectly labeled as a soft fork and would actually require a hard fork, which could lead to significant changes in the network's functionality. Furthermore, Hoskinson argues that the plan's reliance on zero-knowledge proofs tied to BIP-39 seed phrases would not be able to recover approximately 1.7 million pre-2013 bitcoins, including those associated with Satoshi's early mining activities, due to differences in key derivation methods used at the time. This critique highlights the challenges Bitcoin faces in addressing quantum computing threats while maintaining its core principles and governance structure.