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 defense mechanism against quantum computer attacks, stating it is insufficient to safeguard the network's oldest coins. In a video, Hoskinson explained that the suggested solution, BIP-361, is being misleadingly presented as a soft fork when it actually requires a hard fork due to its impact on existing signature schemes. He emphasized that this approach would fail to rescue around 1.7 million pre-2013 Bitcoin, including those attributed to Satoshi Nakamoto, as these coins were generated using a different key derivation method and lack the necessary cryptographic proof for recovery. Hoskinson's critique extends to Bitcoin's governance structure, which he believes hinders the network's ability to resolve such issues through a formal on-chain process.