Charles Hoskinson Bitcoin Has Three Options! “In One of Them the System Collapses Completely”

In a recent interview with leading cryptocurrency industry leader Charles Hoskinson, details about the Midnight protocol — another new and ambitious part of the Cardano ecosystem — were shared in an open-ended conversation.

Hoskinson studied why corporate giants (such as Google, Microsoft and Sony) failed in their crypto projects and explained how Midnight solves these problems.

Midnight calls itself a “metal-chain” that can be used with networks such as Ethereum, Solana and Bitcoin. It is referred to as the “Chat-GPT” of privacy and compliance, according to Hoskinson.

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The privacy features of Midnight’s assets will allow users to use the services provided by its own , which is used for trading other assets like Bitcoin or Solana. This is an intermediary layer bridging traditional finance (Web 2) and the decentralized world ( Web 3).

A key part of the interview was one defining aspect about the threat from quantum computers to Bitcoin. According to Hoskinson, “by the early 2030s there will be a crackdown on existing encryption systems by quantum computers,” which could break current encryption system.

Hoskinson offered three options for Bitcoin:

• Doing nothing: This results in the system completely collapsing.
  A new signature protocol is added to * Soft Fork adding a new Signature Protocol; but this means theft of the old coins (about 34% of supply) that are not imported.
  paraphrasing * BIP 361 and Forced Migration The most aggressive but also the safest option. But this could mean losing about 1 or more of the . Satoshi’s coins are 7 million Bitcoins, including 7m Bitcoin.

*This is not investment advice.

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