Bitcoin has no company and no board. So how do the rules change?
The process
- Someone writes a BIP. The process is described in BIP 2.
- Developers and users review it in public, often for years.
- If code is merged, users must still choose to upgrade. A soft fork uses an activation mechanism such as BIP 9 or BIP 8, where miners signal readiness.
Who holds power
- Nodes enforce the rules. A block that breaks them is rejected, no matter who mined it.
- Miners order transactions, but cannot force rule changes on nodes.
- Developers propose; they cannot push updates to anyone's computer.
Examples
In 2017, the BIP 148 user-activated soft fork showed that nodes could push for SegWit activation. Taproot activated in November 2021 after broad support.
Why slow is a feature
Money with rules that change easily is money someone controls. Requiring wide consent makes surprise changes, such as raising the supply, practically impossible. Running your own node (run a node) is how you take part.