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I know that it can be a little paranoid yet, but anyone ever did an offline backup of blockchain in case of a kind of geomagnetic storm? Imagine if all clients of the world lost the data. I know the entire world will be a mess, but the Bitcoin could keep safe.
Maybe it isn't necessary (or even possible) to keep an offline copy of blockchain, but it could be in a hard disk isolated in a special hardware.
Is it possible? Am I thinking something wrong? Thanks.
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This question in Skeptics SE asks "Will the Sun's magnetic activity disrupt electronics on Earth?"
As I understand it, the disruption has a limited geographical area of effect, and protection for a device can be achieved by simply disconnecting the power and network cables to disconnect it from long-distance grids (which amplify the effect).
I'm sure there would be some offline backups available even if every PC that was plugged in was fried. I would assume servers in data centres would mostly have adequate protection already. For the vast majority of people with an interest in Bitcoin, the other effects that might come with widespread power and network outages would almost certainly be a bigger worry than any issues with bitcoin.
All that said, I recommend keeping multiple backups of your wallet in a variety of locations. Maybe you should keep a reasonable amount of cash handy in case of emergency too, if you're worried about geomagnetic storms...
So, isn't almost impossible the blockchain simply disappear in a geomagnetic storm? But, without the blockchain, the wallets are worthless, right? Thanks. – Felipe – 2012-11-15T14:50:44.410
1@FelipeMicaroniLalli, we can only forecast the potential severity of an event based on two things: what we've already seen or measured, and what might be possible through the laws of physics (eg through modelling). I've heard little concern expressed by scientists about direct data loss, but significant concern about social problems that would likely occur if electricity was out for weeks or months. I believe you're correct on both points there. – Highly Irregular – 2012-11-15T19:50:32.620
@HighlyIrregular just print it. And same could be done with blockchain... if people find it worthwhile to restore the blockchain from that backup, they can. – Jannes – 2013-11-15T10:28:46.397
If you find somewhere safe, I'd like to store a copy of my wallet there too... – Highly Irregular – 2012-11-15T00:18:52.003
2@HighlyIrregular: Different requirements. To store the blockchain, you don't need a secure location, just a durable one. – Thilo – 2012-11-15T06:17:57.723
@Thilo, that's correct, but a durable medium would also be needed for your wallet if you want it to survive an electromagnetic catastrophe, hence my comment! Fortunately, I don't believe the risk of widespread (direct) data loss through such an event is very high. – Highly Irregular – 2012-11-15T06:50:48.343
2If people's wallets are safe, the blockchain will be safe. If people's wallets are lost, the blockchain serves no purpose. So there doesn't seem to be any point. – David Schwartz – 2012-11-15T10:50:30.703