My thoughts about Cloud

Recently you might have heard about True Cloud vs False Cloud in Oracle Open World. I am not here to decide whose cloud is true cloud, Oracle vs Salesforce.com, rather trying to define cloud. When I studied computer science in my high school, we used to define "Hardware" as any part of Computer which you can see, feel and touch and "Software" as anything that you can't see, feel and touch like computer progam. Similarly I will define Cloud as something you don't run on your premise and have no idea what the machine is but you consume it through internet. What you guys think?