[Bitcoin-development] New BIP32 structure

Tamas Blummer tamas at bitsofproof.com
Wed Apr 23 20:17:12 UTC 2014

On 23.04.2014, at 22:09, Luke-Jr <luke at dashjr.org> wrote:

> On Wednesday, April 23, 2014 8:04:03 PM Pavol Rusnak wrote:
>> On 04/23/2014 10:01 PM, Luke-Jr wrote:
>>> Yes, it should scan all possible (under the BIP-defined structure)
>>> branches regardless of which features it supports.
>> So you suggest to scan for accounts, show balances but don't allow user
>> to spend them? Does not seem right to me.
> Scan all branches for UTXOs, then you have the balance for the wallet. Account 
> balances are metadata, so cannot be known from the seed alone. If you want to 
> have a way to restore accounts, you must define some more detailed wallet file 
> format (which could be built on top of this).
> On Wednesday, April 23, 2014 8:04:35 PM you wrote:
>> On 23.04.2014, at 22:02, Luke-Jr <luke at dashjr.org> wrote:
>>> On Wednesday, April 23, 2014 8:01:16 PM Tamas Blummer wrote:
>>>> The wallet has to know how it got the UTXO in order to be able to spend
>>>> it.
>>> No it doesn't... Just the assigned scriptPubKey and secret(s) required to
>>> satisfy it.
>> To know the secret it needs to know which key coordinate to use that is
>> logically the same as knowing the address it used to receive it.
> Sure, it *knows* what address was used to receive it. But at the point it's a 
> UTXO, that address is no longer relevant.

In context of BIP32 one does not store secrets but re-create them on-the-fly if needed using key coordinates known to the UTXO.
Individual secrets per UTXO are about as irrelevant and accessible as addresses.

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