OP, what type of wood are you soaking? And what are you soaking it in, just water? Most woods are ok for your tank but there are some that are a "no-no." Once you soak it, you will need to scrub all the bark off of the wood using a clean, unused scrub brush. This takes a long time, are you sure you are willing to have your bathtub out of order for this long. Also the tannins that leak from your wood (the stuff that makes the water brown) are good for your fish. So maybe take the water (providing that your bath tub was clean before adding the wood) and add it to your aging barrel for your next water change. many people add tannins to their water, it acts as an natural antibacterial and helps soften water and lower ph, plus tannins are in a discus' natural environment.
The big question is what type wood are you soaking?