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- Charles Hoskinson says that the current Bitcoin quantum request would have left about 1.7 million BTC unrecoverable.
- They say that coins from 2013 and earlier, including at least 1.1 million BTC linked to Satoshi Nakamoto, cannot be saved under the scheme.
Growing argument on Bitcoin The long-term defense against quantum computing has changed significantly, with Cardano founder Charles Hoskinson arguing that the current concept is beyond its potential recovery.
Hoskinson he said the proposed policy to protect Bitcoin from the future of quantum attack it would still leave up to 1.7 million BTC in the open, although it is said that the old funds may be returned after the completion of the reformation phase.
Hoskinson disputes the recovery claims directly
The plan will be carried out over a period of several years and remove the old configuration in three phases. First, access to vulnerable addresses can be blocked. Then the heirloom coins were extinguished. In the final phase, Bitcoin that missed the migration deadline can be recovered.
Terming the final interest rate as false, he said it is “impossible” to recover all the money at risk that is being discussed. In his opinion, some old Bitcoin can be answered, but the meaningful tranche cannot. He put the number at 1.7 million BTC, which is worth 127 billion dollars.
Pre-2013 funds are at the center of this problem
Hoskinson said the most vulnerable sector includes Bitcoin that has been held in wallets since 2013 and earlier, before the BIP-39 statement level was implemented. According to him, the money will fall outside the recovery process that is included in the proposal.
He also pointed to the most symbolic thing there is. At least 1.1 million BTC, he said, is the creator of Bitcoin Satoshi Nakamoto.
This makes the argument speculative. If Hoskinson is right, the proposal would not fail to set back a large block of housing investment. It would also leave some of the oldest and most viewed Bitcoins in the system exposed to future threats.
For Bitcoin, this leaves an uncomfortable question hanging in the air. Although the network may harden over time, can it really protect its long-standing investment, or is it part of its long-standing history to preserve now?
