[bitcoin-dev] Bip44 extension for P2SH/P2WSH/...

[Jochen Hoenicke]

Am 14.05.2016 um 10:16 schrieb Jonas Schnelli via bitcoin-dev:
> 
> Importing a bip32 wallet (bip44 or not) is still an expert job IMO.
> Also importing can lead to bad security practice (especially without a
> sweep).

One important use case is importing xpubs for watch-only accounts. This
is necessary for hardware wallets and there are other valid use cases
for this.

> 
> Users will send around xpriv or import an seed over a compromised
> computer to a cold storage, etc.
>
> I don't think users want to import private keys.
> They probably want to import the transaction history and send all funds
> covered by that seed to a new wallet.
>

Yes, in general it is not a good idea to import private keys and many
wallets don't even have an option to give out the xprv (except
indirectly via the backup mechanism).  But even when sweeping a
bip-44+segwit wallet you need to know where the segwit addresses are.

  Jochen