"Nothing to hide" is something many including myself have said when it comes to government snooping around. Edward Snowden, who I do consider to be a traitor to his country, got my attention in this New Yorker interview (Techcrunch) with respect to privacy. He said that if you rationalize about how you have nothing to hide, then you are effectively saying you don't have that right or are will to give it up.
I agree. However, my beef is mostly with commercial services that continue to move the goal posts for privacy and double-speak about how they value ours when its their bottom-line that they are more concerned about. However, for the most part, I use Google, Twitter, or Facebook knowing certain information that I would be giving up.
It's an interesting read and the video might be worth watching. At the very least, when he spoke about not using Dropbox, I did learn about SpiderOak and I'm definitely going to be looking into it. But you have to wonder about any online service and how effective they truly are in protecting their customers' privacy, it's the cloud, you know?