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

Earlier this week, Bitcoin's core developers proposed a plan to protect against quantum attacks by freezing 8 million coins. However, Cardano founder Charles Hoskinson believes this plan is flawed and won't save Satoshi's coins. In a video posted on his YouTube channel, Hoskinson argued that the proposed solution, BIP-361, is mislabeled as a soft fork and would actually require a hard fork, which would invalidate existing signature schemes. He also claimed that the plan's zero-knowledge recovery approach is inadequate for rescuing approximately 1.7 million pre-2013 bitcoins, including those associated with Satoshi Nakamoto, because they were generated using a different key derivation method. Hoskinson's criticism extends beyond the technical aspects, arguing that Bitcoin's lack of formal on-chain governance hinders the network's ability to resolve tradeoffs through a structured process.