# BIP361 Related Articles

Cardano Founder Says Bitcoin Has Entered ‘Shitcoin Land’

Cardano founder Charles Hoskinson criticized Bitcoin's governance and response to quantum computing threats in a livestream titled "BIP 361: Welcome to ShitcoinLand, Bitcoin." He argued that Bitcoin's resistance to change has left it vulnerable, with over 34% of all Bitcoin (approximately 8 million BTC) exposed to potential theft by quantum computers due to revealed public keys. Hoskinson claimed BIP 361's proposed solution—a hard fork to freeze non-migrated coins—would render around 1.7 million BTC, including Satoshi's estimated 1.1 million, unspendable due to outdated wallet formats. He contrasted Bitcoin's rigid culture with governance models in Cardano, Polkadot, and Ethereum, which he says offer better mechanisms for protocol upgrades. Hoskinson acknowledged the quantum threat as real but argued Bitcoin's ideological inflexibility complicates a effective response.

bitcoinist04/16 18:32