What if blockchain.info's server crashes!?

[bit3000]

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?

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[HardForkComing]

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

[Lutpin]

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?

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).

[morantis]

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.

[mexxer-2]

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

[ezak]

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

[bit3000]

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

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.

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.

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)?

If you don't have backup for your wallet, then say goodbye for your bitcoin or sue blockchain.info in court and ask them to give back your bitcoin.

But, i'm sure they have encrypted backup for their users wallet.
Maybe they should advice their users to backup their wallet in case blockchain.info is down or gone

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

[Lutpin]

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)?

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.

[ranochigo]

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?

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:

Where is my wallet stored?
We use MySQL Cluster to store your wallet data. Upon creation your wallet is synchronously saved on at least 2 separate privately owner servers. Our servers are collocated in a locked cabinet at a datacenter with a dedicated security guard. Every 24 hours a database backup is saved to an off site location.

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.

[Small]

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

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.

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.

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.

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)?

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

If you don't have backup for your wallet, then say goodbye for your bitcoin or sue blockchain.info in court and ask them to give back your bitcoin.

But, i'm sure they have encrypted backup for their users wallet.
Maybe they should advice their users to backup their wallet in case blockchain.info is down or gone

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

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:

6. ASSUMPTION OF RISK
Company takes no responsibility for and will not be liable for any losses, damages or claims arising from
the use of our Services, including, but not limited to, any losses, damages or claims arising from (a) wallet
data being "Bruteforced", (b) server failure or data loss, (c) forgotten passwords, (d) corrupted wallet
files, (e) incorrectly constructed transactions or mistyped Bitcoin addresses; or (f) unauthorized access to
mobile applications, (g)"phishing," viruses, third-party attacks or any other unauthorized third-party
activities.

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

[bit3000]

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

[HardForkComing]

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

[bittamak]

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

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

[teddy5145]

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

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.

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.

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)?

If you don't have backup for your wallet, then say goodbye for your bitcoin or sue blockchain.info in court and ask them to give back your bitcoin.

But, i'm sure they have encrypted backup for their users wallet.
Maybe they should advice their users to backup their wallet in case blockchain.info is down or gone

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

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

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

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

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

[ranochigo]

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

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.

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.

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)?

If you don't have backup for your wallet, then say goodbye for your bitcoin or sue blockchain.info in court and ask them to give back your bitcoin.

But, i'm sure they have encrypted backup for their users wallet.
Maybe they should advice their users to backup their wallet in case blockchain.info is down or gone

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

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

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.

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

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

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

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.

[battmann]

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

[bit3000]

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.

[peonminer]

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

[battmann]

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

[teddy5145]

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