I feel your pain, my dropbox on my mac now says it's using 131GB but only 918.6MB on disk. (see screenshot) However my Storage only shows 408GB of 500GB being used, which is better! So there's an improvement here. It would seem that MAC OS is excluding the Dropbox folder size as part of Documents (even though it shows up under Storage Management). But I'm not right at the threshhold like most of you, I have room to breath. I also think Dropbox is downloading WAY too much for having Smart Sync set from the get-go. My ISP download usage will show that clearly. Goodluck...
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I’m having a very similar issue and hopefully we can solve it together. I’m using the MacOS format too, I chose online-only from the very first install (during installation), and find that Dropbox still likes to download a significant amount of data before settling itself, not to mention giving the fans on the MacBook a workout for hours. I also have the same Dropbox synced on a PC which has no issues with online-only with only 250mb used. The mac in comparison is using about 40gb. Mind you the Dropbox total size is somewhere around 470gb. So this is still very strange behaviour that Mac needs to store so much. Now my issue comes similar when I deleted Dropbox off my Mac, storage still showed that 40gb being used in my Documents and data. Even after manually dragging the files to the bin and emptying trash. I went into About Mac > Storage And looked/navigated back and forth through there and eventually the Mac caught up and realised it had emptied/deleted the Dropbox folder and documents and data showed a few kb only. I don’t have an exact solution but maybe try the below on a fresh Dropbox install: I would try creating a new Dropbox folder somewhere new on the computer and choose online-only from install. Be warned though, it seems Dropbox still wants to download a chunk for the initial sync. I feel the High Sierra and Finder integration are not great for this current Dropbox version. More their fault than Apple. Bad coding. Anyway I’m in the middle of syncing once again to see if it will finally sync online-only, I’ll just have to live with it taking up 40gb, I have a 500gb SSD after all.
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