Holding the pick with the bone part of the thumb

Lately i have been practicing by placing the thumb more towards the bone part in the middle (joint) on the pick. It is the way for instance Steve Lukather holds it.
Steve also uses a lot of thumb movement (especialy on the upstrokes) but i don’t don that.
To me the benefit is that you have a more stable grip without having to squeeze. I still hold the pick with the tip of my index finger for having good control.

I have seen players (like Troy himself) placing the pick more on the joint part of the indexfinger. But In order to do that you will have a lot of indexfinger sticking out on the side of the pick which i don’t like because i feel i loose some control.

Please share some thoughts on this?

I honestly think that this is one of those “whatever floats your boat” moments.
There really is no right or wrong when it comes to this issue, you should go for whatever feels best for you and stick with it.