Cloud Storage vs. Local Storage

Good day,

I need some help understanding the Local vs Cloud storage location options in Lightroom.

AFIK the two selection tick boxes available on the menu when selecting preferences in the lightroom application allows you to choose the local storage location and choose if I would like to keep copies localy or keep the Originals locally. 

So, if I choose NOT to keep them locally, how do I then keep them on the cloud only?

Is it is as simple as making the default location for the originals on the creative cloud folder in Windows Explorer?