What are some advantages and disadvantages of cloud computing?

Upon hearing about Google's Chrome OS test run, I got to wondering about the advantages and disadvantages of having an operating system based entirely around a web browser. Obviously, if you don't have any internet connection, your computer is rendered useless (some would argue that without internet computers are useless anyway). But, aside from that, I really can't figure out the downside to this. Do Microsoft and Apple need to watch themselves when the stable version is released in spring of 2011 or will it be a flop?What are some advantages and disadvantages of cloud computing?
You have to trust that your data is secure. If Google can guarantee security and 24/7 access, then there isn't much to worry about. The big advantage is having access to your data everywhere from any device.What are some advantages and disadvantages of cloud computing?
I don't think it is a good idea to do all your personal transactions on a cloud computing system that are ran by thousand or millions of computers all over the world.



Who can you trust in the internet? It's a wild wild west.



Better get a real pc and if you're doing online business, then go for real web hosting company used by the big boys.What are some advantages and disadvantages of cloud computing?
con

Requires a constant Internet connection

Doesn't work well with low-speed connections

Stored data might not be secure.

Stored data can be lost.