Bitcoin Forum

I'm going to sound like a total BTC noob here but **** it.....

I use blockchain.info as my wallet, I make regular backups when I buy BTC but.....

I have a written down copy of my address
I have a copy of my private key (I think it's the private key, begins with a 5 & 51 characters long, anybody????)

If blockchain.info does a Moolah or an MtGox am I safe as I have a copy of the above?
Please tell me this is all I'd need to restore my wallet balance somewhere else?

It's the only fear I have, losing all my coins.
I don't want to create a paper wallet but am I ok because I have the above written down in a safe place?

Please somebody?

It would be best to move your coins to a Bitcoin core wallet. If blockchain.info was to go down, they might take all the coins out of their wallets as well so you wouldn't be safe.

I just doubt it that blockchain will go down, but you can never know. Yeah, it would be the best if you store your btc offline and backup it to usb or a cd, just in case your pc dies or something happens.

Every one holding your address private key have the right to move your coins to another.
So if blockchain.info have your key, they can do anything with your coins.
You should use cold wallet and move your coins to your cold wallet address. Then make sure you are the only one holding the key.

According to BlockChain:

Of course, be sure to use a strong password and use 2-factor authentication.

Additionally, you can download your wallet data so that it can be imported should they ever go down or anything.

The key is probably your base58 private key. Testnet's base58 private key starts with 9 and mainnet's starts with 5. It is 52 characters long so that is indeed your private key. You are alright if they shut down as you have control of your own coins. If they shutdown, just use the key and you can sent all your coins elsewhere.
Yes, blockchain.info have your key BUT they are encrypted with your password. The source code is opensourced so you can review it yourself. AFAIK, they don't send the password to the server. When you key in your identifier, the javascript requests an encrypted copy of your private key. To decrypt the key, you have to correctly key in the password.

Keeping a regular backup of your wallet.json file emailed to you is adequate for recovering your coins when they go. You can also export your keys in plain text if you want, but keep them real safe.

Cannot see why you do not want a paper wallet.

Just move some of the coins to a paper wallet and leave enough coins in the blockchain wallet for you too use. The rest will then be safe in cold storage.

If you not sure about creating a paper wallet, just ask and we can explain.

I do that any way.
I've got about 15 json files in my inbox, I back up my wallet every time I reach another 1 full BTC.
Perfect.
Thanks guys, this place is great for help.

Blockchain.info only has an AES-encrypted copy of your wallet on their server. All the encryption and decryption are done within your browser and so your private keys don't get sent to the blockchain.info server.

Anyone with access to the private key of an address can move the Bitcoins in that address.

That is true but on Blockchain.info the private keys are encrypted on the client side and thus Blockchain.info can't move your Bitcoins.

if you do more then 14 transactions a week, I recommend to back up daily.

You never know some stupid power outage gives you a panic mode, etc.

Thank you for your advice. I will be doing this for my coins. Thanks again.

well blockchain.info was around since 2011 (http://en.wikipedia.org/wiki/Blockchain.info) so i don't think it is going to go down now!