What the f*** is how I responded when I saw my alexa rank dropped from 180,000 to more than one million,seriously how Google can do it without any notification.
I think this is global change for all blogspot users, for example if you are living in India your blogspot
URL will be changed from blogspot.com to blogspot.in for indian visitors(my Guess).
I have tried to access my blog in other countries using proxy sites and noticed no change there, so
change this might be for Indian users only or for local blogs( it is unclear now as we have not noticed any announcement from Google or blogger team).
When I saw My my blogspot blog is transferred to .in, it was very frustrating experience for me
and it must be frustrating for other bloggers also.
How This Change Will Affect Your Blog?
Backlinks: No more backlinks to your new address and this is ridiculous as building Backlinks is not an easy job, I have spent about one year to build backlinks and that hurts a lot.
Alexa Rank: Your alexa rank will reduced to zero. Also Alexa will now record your data from different domains and assign different rank for them.
Page Rank: This will affect your page rank, my page rank dropped from 2 to zero.
Social Media Share: It will affect your social media share due to the presence of multiple url's of the same post. Personally I don't care about social media share numbers but I care about traffic and number of plus one's I get as it affect my seo and organic traffic.
Note: It will not affect facebook likes, if you have placed canonical tag on your blog.
Traffic: I don't think this will affect your traffic as your visitors are redirected from old URL's to new one.
SEO: will this affect your seo? my answer is both yes and no, yes because you will loose all your backlinks and pagerank and no because it will not affect your content.
Update1: Yes, it will affect your search engine optimisation(SEO) as crawler will find duplicate content from your site on many different domains and thus it will downgrade your rankings in search engine.
Conclusion: Ultimately it will kill your blog.
Update2: As .com version of your blog is still there for visitors from other countries, it will not kill your backlinks but it does affect your Alexa rank and Page Rank.
Update3: Use canonical tag on your blog to minimise any traffic loss due to duplicate content, also if you wish to visit .com version of your blog then use NCR(stands for "No Country Redirect") URL.
For example http://yourblogname.blogspot.com/ncr will always redirect you to .com version of your blog.
Update4: This update is rolled out in Australia and soon will be rolled out in every country except
US(I guess)
Blogspot URL in Australia has been changed to http://yourblogname.blogspot.com.au/ from http://yourblogname.blogspot.com/
Update5: For Update explained by Google support click here
Update6: This is change is driven by the ongoing hearing against Google Inc in the Delhi High Court
and censorship issue in various other countries. Also this change gives Google the ability to selectively censor the blogspot blogs in various countries. For example, if you are living in india and Indian government orders Google to block your blog then Google can simply remove your .in version of your blog without affecting .com version of your blog.
What You can Do?
There is nothing you can do about, Google want this change and they have imposed it.
Advice
If you are affected by this move then you should buy a custom domain to protect your blog from future changes or you can just export your blog to other blogging platform like wordpress.
Your Thoughts
What you think about this change made by Google and how this will affect you, lets discuss this
thing in comment section below or you can add your thoughts on Google+