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

In a recent video, Hoskinson criticized Bitcoin's core developers for proposing to freeze 8 million coins as a defense mechanism against quantum attackers, claiming that this approach is both mislabeled and structurally incapable of protecting the network's oldest coins. He argued that the proposed solution, BIP-361, is being misrepresented as a soft fork when it actually requires a hard fork, which would invalidate existing signature schemes. Hoskinson also pointed out that the proposal's zero-knowledge recovery plan cannot rescue the roughly 1.7 million pre-2013 bitcoins, including Satoshi's holdings, as they were generated using a different key derivation method. Furthermore, he emphasized that Bitcoin's lack of formal on-chain governance hinders the network's ability to resolve these tradeoffs through a structured process, leading to contentious upgrades being negotiated through developer mailing lists and social pressure.