Taken from another site:
https://www.reddit.com/r/apple/comments/3ddbd3/psa_all_icloud_photo_library_users_warning/
I have noticed a bug today that you should all be made aware of.
I enabled iCloud Photo Library on 20,000 Photos and 2,000 videos. Everything uploaded successfully and appears to be working 100%. Running 10.10.4 and IOS 8.4
But now I have noticed that numerous photos and videos have corrupted, not locally but on iCloud. There is no way to fix this as a repair of local database does not fix it.
The end result is as follows: My main system library has all videos and photos without problems.
But any IOS device or additional Mac I enable iCloud Photo Library on will sync broken images across without error. Meaning if you trust iCloud enough to delete your local photos, in a very rare event you may run the risk of losing some of your photos/videos as they may be corrupted.
I have not gone through all of my photos or videos to see exactly what is corrupted, but I have seen at least 100 items randomly spread around that are corrupted.
So local photos or videos from the System Library looks perfect, but on another Mac already downloaded the entire library successfully they look like this.
This is an issue Apple is looking into.
Remember to ALWAYS have local copies of all your photos and videos, as items in iCloud may corrupt and leave you with a incomplete library.
edit/update: I am toning down the post a bit as its not meant to scare anyone away from iCloud. I just wanted to inform, not scare. This is most likely a very rare occurrence - will update when I hear back from Apple on this, they have gathered a lot of diagnostics and also have username/password to try to replicate locally.
https://www.reddit.com/r/apple/comments/3ddbd3/psa_all_icloud_photo_library_users_warning/