Bitcoin hard fork conspiracy treacheroushttp://www.ibtimes.co.uk/bitcoin-hard-fork-conspiracy-treacherous-1543420Bitcoin, a peer-to-peer electronic cash system, is intended to allow online payments to be sent directly from one party to another without going through a financial institution. The platform has blossomed with more than US $100m ($144m) of bitcoin transacted each day. Vocal groups of developers are now advocating a replacement of the current Bitcoin platform with more robust software through a consensus fork commonly referred as a "hard fork". One group calls their replacement software "Bitcoin Classic"; and another calls its replacement software "BitcoinXT".
A "hard fork" by nature is not backward compatible and requires network participants to adopt new software changes. Failure of all applicable network participants to take such action will result in the Bitcoin network validating different sets of consensus rules. This will result in bitcoin users following different ledgers (called blockchains). There will be a variance in the decentralized truths about bitcoin transactions, as the replacement software will result in a new replacement virtual currency. "Hard forks" are not to be confused with software forks in Open Source, which is a copy of an existing project.
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