đ¨ Charles Hoskinson: Bitcoinâs Quantum Fix (BIP-361) Is a Hard Fork in Disguise & Canât Save Satoshiâs Coins đ
Cardano founder Charles Hoskinson has sharply criticized Bitcoinâs latest quantum defense proposal, BIP-361.
Hoskinsonâs Key Arguments:
⢠BIP-361 is being marketed as a soft fork, but in practice it would function more like a hard fork â clashing with Bitcoinâs long-standing cultural resistance to such changes.
⢠The zero-knowledge recovery mechanism cannot rescue roughly 1.7 million BTC (valued at ~$125+ billion at current prices) mined before 2013.
⢠This includes approximately 1 million BTC widely attributed to Satoshi Nakamoto, whose early wallets lack modern BIP-39 seed phrases needed for proof-of-ownership migration.
BIP-361 aims to phase out legacy signatures vulnerable to future quantum computers by eventually freezing unmigrated coins, building on earlier ideas like BIP-360. While it seeks to protect the network, Hoskinson warns the oldest coins may be permanently stranded.
This debate highlights Bitcoinâs growing quantum readiness challenge as Googleâs recent research has shortened estimated timelines for practical quantum attacks.
Will Bitcoinâs community find a cleaner solution, or is some early supply inevitably at risk? đ
Whatâs your take â does Hoskinson have a point, or is this just Cardano vs Bitcoin rivalry? Drop your thoughts below đ
