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Klestin
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June 10, 2011, 02:58:53 PM
 #61

Sending the wallet file does not send the money to the recipient.  At best he now has an equal access to the money - he must trust that the sender deleted the wallet file.  Unless he perpetually trusts the sender not to spend that money, he must execute a transfer to a wallet of his own creation, over the bitcoin network.

How is this different from the sender sending that directly?  Unless we're talking about a local sniffer on the sender's side, in which case use an anonomyzing network or cryptographic proxy.
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June 10, 2011, 03:03:58 PM
 #62

You know what? There is a simpler way: create a new wallet, fill it with money, encrypt it, sell and send the whole wallet to someone via email.
Done.
Do it via multiple jurisdictions and the trace is easily lost.

I don't see what problem this would solve.

Step 1- create wallet.  Ok, no problem here.

Step 2- fill wallet with money.  Oops, how are you going to do this without it being traceable?  Any money you send into this wallet from yours is going in as a transaction and recorded forever.

Step 3- Send/mail wallet.  Ok, no problem, although if you are going to mail the wallet it'd be just as easy to mail cash, so why bother with bitcoins at all?

You gotta fix step 2 in order to make it work.  And if you can fix step 2 (add money to wallet without leaving any transaction evidence), you could just add money directly to the seller's wallet, rendering steps 1 and 3 unnecessary.

Step 2 is true in the sense that money needs to come from somewhere, true. But if people start selling and mailing wallets, you cut a link and the simple fact that someone put some money onto a an account and there are no visible transactions does not mean he is still the owner anymore. It also appears dead while it might still be used (for instance using many atomic 1 BC wallets).

What I just want to say is that plausibly the transactions are not traceable as before. One could buy drugs by sending around a couple of wallets and the money would suddently appear somewhere else. And the person could always say his wallet was somehow stolen when he was using bitcoin in an internet café in some weird country.

Step 3 - Mail the wallet: first of all less transaction fees, secondly less traces around. Mailing cash takes ages.. and if the customs open it it might seem weird. You could send many encrypted CD's, one will eventually reach the addressee. And if some bad guys are intercepting the mail? Well, you can still get your money back as you still have access to the wallet too.

Believe me, it has some advantages....
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June 14, 2011, 06:28:49 AM
 #63

Sending the wallet file does not send the money to the recipient.  At best he now has an equal access to the money - he must trust that the sender deleted the wallet file.  Unless he perpetually trusts the sender not to spend that money, he must execute a transfer to a wallet of his own creation, over the bitcoin network.

True, it's just like a "normal" transaction.

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