Managing the flood of devices is a modern challenge in distributed networks as it is becoming increasingly difficult to manage the software updates needed to protect the devices from malicious attacks. Bitcoin, which is a blockchain-based system that relies on approximately 10,000 volunteer nodes to manage its ledger, faces similar problems. A centralized system mitigates this problem by enforcing update policies through one authority. In contrast, a distributed system with different update policies for different users could enter a worst-case scenario of sparse deployment due to forgotten updates or refusal to apply them. Nevertheless, we find that Bitcoin peer-software updates have been surprisingly successful in terms of evading this scenario. Therefore, we investigate the modeling of the impact caused by software version history and the remaining challenges, such as the inability to work well with update cycles. Consequently, we report that previous vulnerable software versions are still being used, and the share growth decelerates as the number of versions increases. Moreover, we clarify that the probability of recovering the adoption rate to previous levels is small, while surviving older versions increases the vulnerability of the network.