I code exclusively on terminals securely connected to my Linux servers running on Google Chrome windows as spun by Google Cloud Platform. Therefore I code completely in the cloud.
I found running Vim inside GNU screen [or even (vim inside gnu-screen) inside a docker container] to be extremely flexible and powerful, yet simple and standard.
Vim is pre-installed on most *NIX systems you will encounter and GNU screen, when absent, can be installed easily and quickly with the distribution's package manager.
GNU screen allows for persisting sessions and managing multiple views with extra terminals (one view is running vim, the next is running "$ tail -F example.log" the third is running a server "$ node myserver.js", another one is used for housekeeping command like committing code etc... you get the point).
There is zero installation and almost no computational overhead on my local machine.
There is no configuration on the local machine (I keep the .vimrc and .screenrc config files on GitHub that I load on servers where I have a lot of coding to do in) . Therefore, I can code from any computer including my phone (using the GCP app on the Mac App Store). I use a small USB-less MacBook that wouldn't be powerful enough for many setups given in the other answers.
The only drawbacks I have encountered are: