Replying to 3e914027...

What is the difference between a Bitcoiner relying on their node to verify supply and a Monero user relying on their node to verify supply?

You can do simple verification with Bitcoins supply, but who does? NO ONE DOES. Bitcoin is approaching 1 billion transactions and growing. Infeasible that even a single person has verified them all. Every ten minutes?

Bitcoin noderunners were obliviously unaware of this supply bug that would've been undetectable if exploited. Luck + a single honest anon was all that prevented it:

bitcoincore.org/en/2018/09/20/notice

Everyones node would be telling them Bitcoin supply looked fine, but the exploiter would be claiming spent values twice. Undetectable if you aren't combing through all inputs and outputs yourself and only relying on your node.
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B.O.P 2y ago

It’s literally a concern laid out on moneros website, feel free to educate yourself because Bitcoin supply auditability and Monero supply auditability are not the same

“At the end of the day, there are tradeoffs inherent in supply-audit design choices. You can choose to represent amounts in the clear, like Bitcoin does; you can be sure that the supply is what you expect it to be (or fork to ensure this in case of exploited inflation), but you sacrifice fungibility and could expose users to personal risk. Or you can choose to hide amounts like (shielded) Zcash or Monero do; you improve privacy and fungibility, but at the cost of offloading supply soundness guarantees to the correctness of proof and signature constructions”

https://www.getmonero.org/2020/01/17/auditability.html

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90fcfcbb... 2y ago

Yes, I know I know.

That all sounds great in theory, but I'm talking about in practice, how it works in the real world.

You didn't answer my question:

What is the difference between a Bitcoiner who relies on their node to verify supply, and a Monero user who relies on their node to verify supply? They both depend on their node to properly audit supply.

I just showed you a supply bug exploit in Bitcoin that would've gone undetected by noderunners.

If no one takes advantage of Bitcoins simple transparency by checking it themselves...simple transparency doesn't benefit them.

You are literally doing nothing different from a Monero user and imagining that you are