[Quoth]

Originally Posted by Sirtel

A cloud copy is not necessarily just an online copy. It can be a local copy that gets synced to the cloud. So even if internet goes down or the cloud provider goes out of business, you'll still have your local copy.

IMO the best way to back up is to have both local and cloud backups.
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It's not an one or the other scenario.

Originally Posted by DrChiper

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At regularly intervals I make twice a full image-backup, on 2 different local backup-devices as 1 backup is no backup (the backup device can fail too)

All true.