>> The minimals use ~/texmf for the local tex folder. How to change it to 
>> ~/dropbox/texmf?
>> 
>> My ConTeXt installation is ~/dropbox/context.
> 
> One option is:
> 
>      ln -s ~/dropbox/texmf ~/texmf
> 
> Aditya

A fine option it is. Thank you Aditya.