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This documentation has been written already https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
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Yes the only step that is reversible is the entropy <-> mnemonic. You can see the entropy to/from mnemonic and master to xprv here: https://github.com/trezor/python-mnemonic/blob/master/src/mnemonic/mnemonic.py it is pbkdf2_hmac and hmac_sha512 not EC.
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