Infinite storage in the cloud

Once you install Bitcasa it prompts you to choose which of your folders to “cloudify.” Cloudified folders are uploaded to Bitcasa’s cloud right away and get a Bitcasa logo added to the system tray or Finder.
Any time you save, copy, or paste new files into a cloudified folder they also uploaded. You’ll also be able to access your files from any device, wherever you are, the company says.
It’s not available publicly yet, but invites to a trial version of Bitcasa are circulating and you can sign up for a beta here. We will be testing it on a Mac and a PC this week. I found in the first test that it uploaded files to the cloud at a speed of about 10 MB/minute. Not too shabby.
Bitcasa will cost $10 a month with no storage cap for users, according to C|NET. (A free version will be “less than unlimited,” the company says.)
We’ll let you know how it works for us. UPDATE 2/16: not so well. Potential for losing your data, confusing interface, poor documentation.
Meanwhile, Google Google is close to launching its own cloud-storage service, called Drive, which will be free for most consumers and businesses, according to The Wall Street Journal.
Both of these cloud services promise to be Dropbox killers. How do Amazon and Apple iCloud fit into all this? And what about security issues?
I’ll try to sort this all out. Who else has tried out Bitcasa?