Maybe you are aware that now both Yahoo and Google have shut down their free API quote and exchange rate service which Moneydance used, Moneydance has added another free service from Alpha Vantage. To use this service assuming your purchased direct you must download the preview build from https://infinitekind.com/preview
If you purchased from Apply you will need to wait until they release an update.
Once installed click on EXTENSIONS – MANAGE EXTENSION and update the extensions to give a Quote and Exchange Rate extension to v009. When you start the extension, you will be given a link to obtain an Alpha Vantage key. Once obtained enter the key into the box provided an in the dropdowns set them to Alpha Vantage.
For mobile devices only Dropbox API is supported.
It’s my understanding that when Moneydance uses Dropbox, it uses end to end symmetric AES256 encryption. The keys are only held on the devices not in the cloud. As used by governments and banks for example. Keys (syncing encryption passphrase) are not held in the cloud, only on your devices. So, if Dropbox was to be hacked they would only get an encrypted set of files.
So is AES256 secure, do your own research on the web.
I found this: -
“Currently there is no known significant weaknesses in AES. That leaves brute force as the only existing attack method. Brute force can also be described as try and fail: every possible key it tried until the correct key is found. So how long would it take to find the key? As of June 2017, the world’s fastest super computer is TaihuLight. If it tried the brute force method it would not be able to complete the task of testing all the possible keys as before it could finish the Earth will be swallowed by the Sun which will have become a red dwarf.” That not to say it would not get lucky and find it faster.
The level of security you adopt is a personal choice and depends on the usefulness of the information included. I don’t store password, credit card, bank account data etc in Moneydance that would allow access to any of my accounts.
The syncing is done through Dropbox only. BUT the developer is aware of security concerns and all data on Dropbox is encrypted. It is encrypted as strongly as your main file. There is no plain data in Dropbox at any time. You do not have to rely on Dropbox sketchy security.
You can sync through a shared folder such as iCloud BUT it will not work with the mobile app only two computers due to mobile app limitations.
It's not just security, my concerns also involve backups and assurance that
the data is mine and will always be there. Cloud services come and go.
Please be aware that at least one person among your customer base wishes to
have an alternative local-storage solution to mobile sync. The fact that your
product had a feature like this and then later withdrew it is a major concern
I would like clear up one thing. They are NOT my customers. I am merely a user such as yourself. I do have a fairly good grasp of how the syncing works. This should probably be in the "suggestions" thread and not problems. The documentation implies that this is a "for now" situation and may change with MD 2018 or later.
Also, the sync data is not designed for backup. Restoring from a backup would mess up incredibly for synchronizing data sets. If you lose the sync files, turn it off on both machines and then reinitialize them to synchronize. Neither does it matter if those files are always there. As you say cloud services come and go and in the future you may have to turn syncing off on one service and turn on again on another. But how much effort should be spent on providing syncing on various customer preferred services (wasabi anyone?) vs. fixing other bugs and features.