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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Draft BIP for SNICKER
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> The SNICKER recovery process is, of course, only required for wallet
recovery and not normal wallet use, so I don't think a small amount of
round-trip communication between the hot wallet and the cold wallet is
too much to ask---especially since anyone using SNICKER with a
watching-only wallet must be regularly interacting with their cold
wallet anyway to sign the coinjoins.
What you described only considers the "initial setup" of a watch-only walle=
t. There are many usecases for watch-only wallets. There doesn't even neces=
sarily need to be any offline-signing involved. For example, consider a use=
r who has a hot wallet on their laptop with xprv; and wants to watch their =
addresses using an xpub from their mobile. Or consider giving an xpub to an=
accountant. Or giving an xpub to your Electrum Personal Server (which is h=
ow it works).
Note that all these usecases require "on-going" discovery of addresses, and=
so they would break.
ghost43
(ps: Apologies Dave for the double-email; forgot to cc list originally)
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