Bitcoin backing, blockchain.info?

[shockvibee]

So I have a question, is there anything ACTUALLY backing up btc?  I understand the process of obtaining btc but I might not have read in enough.  I noticed blockchain.info doesn't get any support, and that's where btc comes from, right?

If you aren't receiving any support from a website that is the center of btc, why would you put all of this money in to it?

Is it possible everyone could wake up one morning and blockchain.info be gone? What would happen to btc?

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[Maciek]

Well Bitcoins does not come from blockchain.info.
It's just an online wallet.

Somebody will explain to you soon. But please read a little bit more Wikipedia... there is nothing about blockchain.info... it's all about distributed blockchain.

But don't worry. Everybody here had to learn a lot - because bitcoin is all new technology.

[piuk]

I understand the process of obtaining btc but I might not have read in enough.  I noticed blockchain.info doesn't get any support, and that's where btc comes from, right?

You might be confusing the blockchain which is a distributed database which holds a record of every bitcoin transaction and is sort of where btc comes from and the website blockchain.info which amongst over things displays information about the blockchain database.

Is it possible everyone could wake up one morning and blockchain.info be gone? What would happen to btc?

Yes. Nothing, unless you have a wallet host at blockchain.info in which case a wallet backup can be imported into another client and be up and running again fairly quickly.

[Gabi]

Blockchain.info is a website wich offer a online wallet service.

If blockchain.info disappear... well you were wrong in the beginning, so nothing happens.

If you aren't receiving any support from a website that is the center of btc,

Wrong wrong wrong

[Foxpup]

If you aren't receiving any support from a website that is the center of btc, why would you put all of this money in to it?

I put all of money into Bitcoin precisely because there isn't a website that is the centre of it. There is not a single individual person, organisation, company, or government anywhere that you can point to and say "If anything bad happens to this person/organisation/whatever, then Bitcoin will fail."

For example, take Bitcoin's inventor, Satoshi Nakamoto. That's not his/her real name, and nobody knows what is. Nobody even knows if he/she was working alone or as part of an organisation. He/she hasn't been heard from in years, and may in fact be dead. And what does this mean for Bitcoin? Absolutely nothing! It doesn't matter in the slightest whether Satoshi Nakamoto is dead or alive. And the same can be said for every person and company that is or has been involved in Bitcoin.

Bitcoin is completely decentralised and distributed. Bitcoin as a whole cannot be stopped by the loss of any part of it. That is what backs it up.

[Gator-hex]

The cost of equipment and electricity to produce a Bitcoin is it's backing as far as I'm concerned.
A miner won't sell their coins at a loss.  I always say to people, mine one, then you will know it's true value.

Could the blockchain be destroyed. Possibly, they keep backups though, but the database is pretty funky and if there was a really high number of transactions, you never know. Some even called for banning certain gambling games with a high number of small transactions. (the recent fork issue). So not everything is ready for global transaction domination yet.