"As of March 1, 2026, more than 34% of all bitcoin in circulation carries an exposed public key onchain, representing roughly 8 million BTC left vulnerable to quantum computing attacks."
"Hoskinson's core complaint is that BIP 361 calls itself a soft fork, while the mechanics it requires actually make it a hard fork, something Bitcoin has never executed."
"The proposal outlines a zero-knowledge proof recovery system that would allow holders of HD wallet seed phrases to reclaim frozen funds, but this mechanism fails for approximately 1.7 million BTC held in wallets predating the BIP."
Charles Hoskinson warns that over 34% of Bitcoin's supply is vulnerable to quantum computing attacks by March 1, 2026. He critiques BIP 361, stating it misclassifies its requirements, which necessitate a hard fork rather than a soft fork. Hoskinson emphasizes that 1.7 million BTC, including Satoshi's coins, cannot be recovered under the proposed zero-knowledge proof system. He expresses concern that Bitcoin lacks the governance to effectively address these vulnerabilities, leaving many holders at risk of losing their funds.
Read at news.bitcoin.com
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