Bitcoin Forum

Today I was wandering what if blockchain.info's server is destroyed! If there is a fire or a natural disaster(GOD FORBID)
What will happen then?How are we going to retrieve those encrypted copies?
So all the user's on blokchain will be left with nothing?
What do you think?

We become insta-millionaires. But I doubt that will happen.
I assume they're using a lot of backup machines.

If you're talking about the coins in wallets located at blockchain.info,
well thats the risk of using an online wallet (One of them).

If you have a wallet on their server, then you might lose it.  The network would go on because all of the users with the right type of wallet downloaded would carry on the blockchain.  Imagine if every person on Facebook downloaded and served the website to more people.  If the facebook server dropped, the site would go on because there servers all over the world.

Last I checked there was an option to backup your wallet so you still have the private key, in case BC gets crashed/locked etc. Feel free to prove me wrong though

every online wallet have the same issues and can happened in anytime
that every one problem
so keep your coin in cold wallet better

Yup they provide you an option to backup your wallet.dat
But not all of us do this.And sometimes backing up increases the chances of getting your coins stolen.

Running the network won't be a problem.We are concerned about our coins.Do they have the copies of encrypted wallet at every location(of all the user's)?

Does block chain have any insurance policy?
Has anyone read there T&C? ???

Close to none increase in security risks if you do your backup the right way, but then again, why going with an online-wallet in the first place.

If you're so concerned about your coins, hold them somewhere safe, locally, better even offline/cold or in a hardware wallet.

Not that I like them but unlike their usual inefficiency in user's security, they did at least have the brains to back it up several times.
From https://blockchain.info/id/wallet/technical-faq:

Given that they have RAID configurations, it takes many hard drives to fail for a RAID5 configurations for a data to lose. Just to be safe, you can also ask them to mail you a wallet backup.

If you leave it out in the open and transfer it everywhere, yes. Blockchain.info wallet.aes.json backups are encrypted by the user's password and would take an attacker sometime to bruteforce it. You can keep it out in the open and you won't get it stolen immediately with a strong password.

Yes. They don't have the user's unencrypted copies in the first place.

No. They do not have any obligations to refund customers or claim responsibility for any damage. Just for the record, its's on their TOS:

They do have a history of refunding users that were affected in their security incidents however.

blockchain is down.What could have happened? ;)
BTW, .onion link is working  ;D

Now we all know you stole all blockchain.info BTC. You shall not pass!

Looks like they are moving to cloudflare and if its a new setup its might take few hours to resolve...

As far as i know Block chain doesn't have any insurance policy or something similar.
If you want your coins to be protected by insurance go to Coinbase, their coins are protected by the insurance so if anything happen you can always retrieve them back

I thought they are getting DDOS attacks ???
their servers has been down about 3 times today, and that isn't part of moving to cloudflare server as far as i know :P

It is only covered if it's a hack done by an employees or due to their negligence. You're pretty much done for if someone manage to hack your account.
Yes. It probably wasn't, they were on cloudflare since a long time ago and it's widely known that doing so would give cloudflare a chance to do any MITM attacks.

The blockchain.info site is down for me right now on WiFi but not 4G. Anyone else having this problem?

Up and working for me.Might be a problem in your LAN.

Do a forum search on blockchain.info hacks. Then see if you want to keep your coins there.

What do you guys think is the best local wallet to use? I'm thinking of using one from now on

You mean desktop wallet right ?
If that's the case i would recommend you electrum, from my experience with it electrum is pretty easy and has a simple GUI so its not really a hassle to navigate through your wallet ;)

They have a very clean backup system it backups on every tansaction. Though crashing of servers is not going to happen. They must be storing info somewhere else too. So no need to panic. If you are not feeling good change your wallet to offline .

http://bitzuma.com/posts/blockchain-info-paper-backup-stores-private-keys-in-the-browser-history/

This will help you too .

I don't know if the server right now is crashing or what, but surely they have got some problem with the site. I am constantly getting "Not reachable" messages in regular interval of time. Maybe, a ddos or something.

It will be problem if you did not back up your wallet json file. So, please backup frequently, at least after you created a new address. Once you have that json file, you are safe. You can download an old version of multibit client and import the json file.

since this is a likely scenario: better use electrum for storage.

my hotwallet is with blocktrail.com (moved from blockchain.info) - you can restore your wallet even if blocktrail goes south and it's HD.