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From: Dan Libby <dan@osc.co.cr>
To: shiva sitamraju <shiva@blockonomics.co>,
	Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] BIP49 Derivation scheme changes
Date: Wed, 6 Sep 2017 00:19:31 -0700	[thread overview]
Message-ID: <c4924b25-96db-57e4-dd01-461e10cab503@osc.co.cr> (raw)
In-Reply-To: <CABuOfuijNyNrdSfCXKySw0Qf7E1db8sgzWYgW9uOg_ZJJbuixA@mail.gmail.com>

On 08/30/2017 12:24 AM, shiva sitamraju via bitcoin-dev wrote:

> What would happen if you recover a wallet  using seed words ?
>   1. Since there is no difference in seed words between segwit/non
> segwit, the wallet would discover both m/44' and m/49' accounts
>   2. Note that we cannot ask the user to choose an account he wants to
> operate on (Segwit/Non segwit). This is like asking him the HD
> derivation path and a really bad UI
>   3. The wallet now has to constantly monitor both m/44' and m/49'
> accounts for transactions

small nit with 3.

It seems to me that the wallet would perform initial discovery on m/44
and m/49, and then would find transactions at one or the other, so it
can then record the type somewhere and from then on need only monitor
one branch.

Still, I agree it is ugly, makes initial discovery up to 2x slower, etc.

> *- XPUB Derivation*
> This is something not addressed in the BIP yet.
> 
> 1. Right now you can get an xpub balance/transaction history. With m/49'
> there is no way to know whether an xpub is from m/44' or m/49'
> 
> 2. This breaks lots of things. Wallets like electrum/armory/mycelium
> <https://blog.trezor.io/using-mycelium-to-watch-your-trezor-accounts-a836dce0b954>support
> importing  xpub as a watch only wallet. Also services like
> blockonomics/blockchain.info <http://blockchain.info> use xpub for
> displaying balance/generating merchant addresses
> 
> Looking forward to hearing your thoughts

speaking as author of tools hd-wallet-addrs and hd-wallet-derive, I
agree this is problematic.

would be great if xpub/xprv could somehow encode their absolute path in
wallet for tools to read.  Users cannot be expected to know.




  parent reply	other threads:[~2017-09-06  7:19 UTC|newest]

Thread overview: 7+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2017-08-30  7:24 [bitcoin-dev] BIP49 Derivation scheme changes shiva sitamraju
2017-09-03  5:19 ` Thomas Voegtlin
2017-09-06  7:19 ` Dan Libby [this message]
2017-09-05  7:10 shiva sitamraju
2017-09-05 15:41 ` Pavol Rusnak
2017-09-05 16:33 ` Thomas Voegtlin
2017-09-06  5:20 shiva sitamraju

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