Can an IPFS repo be migrated by copying the .ipfs folder?

If I install IPFS and add files to it, can I copy the .ipfs folder to another IPFS node installed with the same version to relocate the repo?

I presume if that works it would result in a collision of the IPFS peer hash unless the original IPFS node is shut down.

Yes.

Yes, that is also correct.

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