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To: shiva sitamraju <shiva@blockonomics.co>,
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From: Dan Libby <dan@osc.co.cr>
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Subject: Re: [bitcoin-dev] BIP49 Derivation scheme changes
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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.
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