Transcript for #bitcoin-dev 2017/02/16

09:52 dionyziz In Poelstra's [Mimblewimble](https://download.wpsoftware.net/bitcoin/wizardry/mimblewimble.pdf) in line 10 it says "(absent theft or illegal inflation)". I understand how theft cannot be checked posthumously, but can't illegal inflation be checked by full nodes entering the system? In principle they could verify that the coinbase schedule is observed.
10:52 stevenroose dionyziz, inflation in that context should definitely be increase in money supply
12:02 Yoghur114 dionyziz: no; monetary inflation could(/would) be hidden in fees, so for a node to observe a valid coinbase schedule, it must validate all transactions
14:11 instagibbs the key missing part is the intermediate rangeproofs which are dropped, so there may have been temporary inflation then deflation
14:19 Diablo-D3 I have absolutely no clue what you said
14:19 Diablo-D3 but I think it'd make a great research paper
19:29 abpa Is it good practice to set the locktime to the current height on transactions?
19:35 instagibbs abpa, the next blockheight
19:35 instagibbs since obviously it can't go in current block
19:35 abpa instagibbs thanks
19:35 instagibbs check out how core's node does it
19:35 instagibbs wallet*
19:36 abpa That is to avoid reorganization issues?
19:36 abpa Or just for the health of the fee system?
19:36 instagibbs incentivize the chain to move forward
19:36 abpa OK yep, I thought it was something like that
19:36 instagibbs https://github.com/bitcoin/bitcoin/blob/master/src/wallet/wallet.cpp#L2393
19:36 instagibbs read from there
19:37 instagibbs 1 out of every 10 times it randomly makes it Rand(100) blocks behind current to give air cover for delayed transactions like mixers etc
19:38 abpa Cool