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A cloud will offer resources that you can control some you can expand like memory and cpu with a reboot. Clouds are also supposed to offer an HA environment so your server has almost no downtime. A vps is very similar to a cloud as the technology goes but they are more what you see is what you get and don't normally have upgrades for resources and no HA environment. Then you can get the Personal cloud which has 2 dedicated servers and 1 san for your needs, at that point you have full control of your system were you can sell vps or create them how you want.
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