I am planning on backing up my hard drive using a cloud backup service but have become skeptical of the industry based on incidents like these:
And this response to the question of losing one's private key by Altdrive:
"What if I lost my file encryption key?
We don't want to hear that! Your private encryption key is VERY important and personal. Without it, you cannot restore your data in event of a system loss. We highly recommend that when you create your encryption key, you store it in a safe place: e.g. printed out and in a safe deposit box, or backed up somewhere else on the Internet. If you did, contact us immediately. There may be a few options depending on the circumstances."
Based on lack of trust of these providers, I am planning on encrypting my hard drive using EncFS on an external hard drive and then using Altdrive (the cheapest backup cloud service) to back up that external hard drive, so that regardless of whether I use Altdrive's user-defined private key or their own key, stored on their server, it should not be possible for them to access any of my data.
What are the risks to consider in this approach, eg is there more a chance of corrupting my data since it will be encrypted multiple times, will it be harder to access or obtain individual files, ie maybe I have to download the entire volume since I shouldn't be able to recognize each file on their server (not sure how it works to obtain data from cloud backup providers in general)?
I am using linux.