Network bandwidth is generally not metered on home connections, so that's indeed not an issue, but storage isn't infinite. Transcoding the video would be a plus and can't happen remotely due to encryption. Raw mjpeg is also an option though, storage isn't that expensive (or throw more CPU at the encoding system; a raspberry pi is just an example).
> encrypting the network traffic end to end
but the video stream? The idea is that the storage server (Google, for that matter) doesn't need access to my video stream. Not sure if end to end encryption is too much to ask but I did figure since it's 2020, it should be doable.
Thanks for your responses by the way, it's helpful to have a second pair of eyes on finding a simple solution. Since there doesn't appear to be one, I will start experimenting with some ideas, feeding ffmpeg to gpg and checking cpu vs. compression ratio etc. Next step will be seeing which protocol to use for local + remote writing of the encrypted file (not sure if sshfs does incremental writes / appends). Let's see how hard this is! :)