Published on October 31st, 2015 | by bitcoin0
Time is ticking on Bitcoin’s future – IEEE Spectrum
The community is a battery of contrarianism that lives off the loathing of every institution it seeks to usurp—banks, governments, payment processors.
But others warn that BitcoinXT’s solution will place the currency on a path toward centralized control.
The greatest threat to Bitcoin’s stability, however, is not the possibility that BitcoinXT will be adopted but rather that it will be only partially adopted.
The new version is programmed to go into effect on 16 January 2016 if 75 percent of the main processors of Bitcoin transactions, called miners, signal their consent.
Together they work to update and secure an ever-growing chain of transaction records that functions as the accounting ledger we call Bitcoin.