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This is what scares me about backing up your files only to the cloud. They could go down any day and you would lose everything.

The fact that a local copy is kept is what I like about dropbox, and why I also keep local backups in an external HDD.

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It's not a backup if it's your only copy. Moving data exclusively to the cloud is dangerous yes, but backing up isn't. At worst you get into a situation where you local copy is your only copy until you can back it up to a different cloud. Like you said, that's why it's good to have multiple backup locations.

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