1nvest wrote:Been reading/learning about Trezor and adding passphrases, in effect a additional 25th seed word/phrase (up to 50 characters long) that uses a new address/wallet. So if I have a Trezor and a wallet with £1000 bitcoin value, I could hand that device to someone else who enters their own choice of passphrase without me seeing, and then share that wallets public key into which I sweep the value/bitcoin. The main (24 word seed) address remains the same, but the transferred bitcoin is no longer accessible by me.
I can see why in another thread its suggested that the overlord/watch group is being disbanded. Reliable reporting is pretty much down to trusting individuals to accurately/reliably report.
Not sure what the above has to do with the travel rule, or indeed the meaning of the last paragraph. Which thread/watch group?
Anyway I think that in order to receive to a Wallet you need a bitcoin address (public key). It's normal to generate that using the wallet, though you can use Xpub to produce all the possible receive addresses for a given wallet.
The Trezor, like a number of other "wallets" can actually contain more than one "wallet". In your example two wallets are created. The seed for one is the 24 words. The seed for the other is the same 24 words AND a passphrase. As they are two different wallets, they will have a different set of receive addresses. It's very difficult to confuse one with the other, though all too easy to forget the passphrase*.
It's not a feature that I like as I believe that it makes it easy to lose access to the wallet, and hence lose the bitcoin.
Some like it as they can apparently have a wallet with little in it while in actuality having quite a lot accessible from the same device.
Wallets with passphrases are also more secure.
For any who are interested, here is Trezor explaining it.
https://trezor.io/support/a/passphrase- ... ets-issues
*Samouai wallet used a single instance, with passphrase. I forgot my passphrase, hence could not recover my wallet. Fortunately being a single wallet I still had access and could sweep the funds out to elsewhere. This is an issue with Trezor or Ledger's implementation.