Re: Can I use my Electrum 12 word seed to gain access to my BTC on another wallet?
So, this thread suddenly became "which has the superior mnemonic phrase" thread? 
Don't worry, Electrum has a great number of userbase,
if the developers somewhat (unlikely) abandon the repo and delete all the related source codes,
[1] someone else will create an open-source recovery software, I bet.
And Bitcoins aren't stored in Electrum's servers or your hard drive, it was recorded by all of the nodes.
As long as you have the mnemonic phrase, lost most of the backups like wallet files private keys, etc., there's still a good chance to recover your private keys from the SEED alone even without the actual Electrum source code because repeat [1].
TL:DR: It's incompatible to other wallets.
My question is: what happens if something goes wrong with Electrum, what if they close down or just disappear for whatever reason and switch their servers off, what happens to my BTC then? Can I restore on another wallet using the Electrum seed?
No it can't be restored to other bitcoin wallets, but...Don't worry, Electrum has a great number of userbase,
if the developers somewhat (unlikely) abandon the repo and delete all the related source codes,
[1] someone else will create an open-source recovery software, I bet.
And Bitcoins aren't stored in Electrum's servers or your hard drive, it was recorded by all of the nodes.
As long as you have the mnemonic phrase, lost most of the backups like wallet files private keys, etc., there's still a good chance to recover your private keys from the SEED alone even without the actual Electrum source code because repeat [1].
TL:DR: It's incompatible to other wallets.