Post
Topic
Board Beginners & Help
Re: Just a bit curious
by
ranochigo
on 20/10/2014, 13:16:13 UTC
I am currently using blockchain info

I just want to ask, is there any possibility that blockchain will cease its operation? What will happen to my btc with them?

If you have the private key you control the money. Bitcoin does not depend on blockchain.info but to control your money you need the private key.
In such situation you could upload your private key into a desktop wallet.

They have the keys too.

They might transfer your coins before you do
They DO NOT have the unencrypted version of the private key. To spend the Bitcoins, you need a unencrypted version of the private key. In this case, blockchain.info only have a encrypted backup of your address which means they cannot spend your Bitcoin as they do not log passwords on the server.