I'm having a VPS which is currently using 10GB storage. Apart from this I have a 50GB dropbox account. I want to use dropbox as a backup for my VPS and there should be automated weekly backups. Is that practically possible? And if it is possible would it be able to take MySQL databases as well in that backup?
Assuming your VPS is Linux/Unix based, you either need to grab an existing Dropbox client for Linux, alternatively compile the client from source. Once installed grab the Command line tools script and link a new directory on the device to your account. Once linked the easiest option would be to hard link the directories you want to backup, under your dropbox directory and possibly schedule a few periodic mySQL dumps into another sub-directory.