Good points. Ones we've covered here and there in our interactions I think.
You have to concede that the attack surface is larger with monero, for inclusion of extra/newer primitives that are less battle tested, as well as the fact that IF someone found a txn bug they could exploit they could get away with it more easily due to the private nature of txns (kinda picked this up more concretely from OP, and stuff I'd seen Todd post which we talked about in past). Yes?
Add to this the fact there are far fewer eyes on this stuff than bitcoin and I get a little nervous, as a somewhat nontechnical person. You're no crypto pro or developer either, iirc, so aren't you the one doing the extra trusting? Sorry, that is slightly rude way to make my point, but I'm typing in between work stuff and a barking dog, so don't feel like editing.
Then there's the non-technical side of things, that's pretty convincing to me. First mover, shelling point, one-time digital scarcity discovery, no inflation (after 2140 if you wanna be annoyingly pedantic), bitcoin at "layer zero" is an idea... that sort of stuff, which gives me further confidence.
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obviously the attack surface is larger.
but when we get into the specifics (which you'll note @Cyph3rp9nk will never do) we find that they aren't THAT new and theres ARE a lot of audits and eyes on them.
and monero has been running for 12 years now.
which isn't to guarantee of anything, but it sets the floor for *deciding where to place trust.*
it's the sort of thing we all have our own journey with, as with Bitcoin.
we've looked around and thought about it enough so that we are confident no other wallet is going to steal our UTXOs. not because we've personally audited the code but because we trust the community to do it.
I've been hanging out in the Monero community for 8 or 9 years now. I feel confident trusting them.
if there's an implementation failure or a design flaw, there could be an exploitable supply inflation bug.
this is where I remind you that it isn't any different on Bitcoin either, if there's a implementation failure or design flaw somebody might be able to steal your sats.
Yes the attack services greater, but that doesn't mean we're just going to stick with the minimum viable product for the rest of existence. eventually we're going to move past that and start trusting more complicated things.
That's really all this boils down to trust in the end. homeboy is saying " I don't trust the Monero community and the additional complexity ".
That's fine. nobody should trust it if they're not comfortable.
JUST like nocoiners with Bitcoin.
but to just say " there shouldn't be hidden amounts on a blockchain " as an axiomatic statement isn't thinking very clearly.