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

In response to Bitcoin's core developers' proposal to freeze 8 million coins to safeguard against quantum attacks, Cardano founder Charles Hoskinson has voiced his concerns that this solution will not be sufficient to protect the network's oldest coins, including those attributed to Satoshi Nakamoto. Hoskinson argues that the proposed solution, BIP-361, is being misrepresented as a soft fork when, in reality, it would require a hard fork due to its invalidation of existing signature schemes. He believes that this approach will not be able to recover approximately 1.7 million bitcoins that were generated before 2013, including those associated with Satoshi's early mining activities, as they were created using a different key derivation method. Instead, Hoskinson thinks that these coins would remain permanently frozen, even if their owners attempt to migrate them. The discussion highlights the challenges Bitcoin faces in addressing quantum computing threats and the need for a more structured governance process to resolve such issues.