An Idea

[lightlord]

To the bitcoin balance in your wallet, you have your own private keys.
When you make a transfer to another person, it costs a transaction fee.
Now If I transfer the private key to another computer, and delete it off mine,
the other computer would have the bitcoins and not mine.

Is it possible to create a wallet client, that transfers private keys?
And then states your balance? Wouldn't this in plain theory
avoid all transaction fees?

Basically I would be sending private keys as a transaction,
and he would get the coins.

[1715471663]

1715471663

[Atruk]

To the bitcoin balance in your wallet, you have your own private keys.
When you make a transfer to another person, it costs a transaction fee.
Now If I transfer the private key to another computer, and delete it off mine,
the other computer would have the bitcoins and not mine.

Is it possible to create a wallet client, that transfers private keys?
And then states your balance? Wouldn't this in plain theory
avoid all transaction fees?

Basically I would be sending private keys as a transaction,
and he would get the coins.

The problem is that deletion introduces an element of trust.

[Garr255]

To the bitcoin balance in your wallet, you have your own private keys.
When you make a transfer to another person, it costs a transaction fee.
Now If I transfer the private key to another computer, and delete it off mine,
the other computer would have the bitcoins and not mine.

Is it possible to create a wallet client, that transfers private keys?
And then states your balance? Wouldn't this in plain theory
avoid all transaction fees?

Basically I would be sending private keys as a transaction,
and he would get the coins.

The problem is that deletion introduces an element of trust.

Yup. You can already easily do this with people you trust, although it's not really worth the penny or three you will save

[tbcoin]

Sorry, but absurd.

This only have sense in physical transfer, for example with casascius coins.

[lightlord]

it would be hard coded into the wallet client, when you send it would automatically delete the file.
You could also say the creators of the wallet client could take advantage, but already
they could in theory make all wallet clients send BTC to them.

Public coding is good because anyone can look at it and make sure, this can also apply to this design as well.

[lightlord]

My idea also is a P2P sever, that everyone equally is connected to, decentralized server.
Everyone agrees on a protocol design. That design would make these private key transferable,
without anyone keeping a copy and stealing it. The idea is all the private keys are stored on a P2P server,
and when you send coins to someone, the server would transfer the private keys to the rightful owner.
And since everyone is agreeing on this protocol, it would be impossible to hack, or to take advantage off

[SRoulette]

A good idea, but as others have said I think it would require large amounts of trust in either.
your peers as a user or the site operating it.

As a small casino operation we favour anything that potential reduces fees

[Atruk]

it would be hard coded into the wallet client, when you send it would automatically delete the file.
You could also say the creators of the wallet client could take advantage, but already
they could in theory make all wallet clients send BTC to them.

Public coding is good because anyone can look at it and make sure, this can also apply to this design as well.

The thing about open source is not everyone has to run the same client. Whatever authentication you might attempt to keep people honest will probably be circumvented, and this is before we get to the problem of how to execute change transactions when the whole private key is signed over. Will you send change to the normal network and pay the fee before handing over the private key? The closest thing I can think of to what you want is Open Transactions, but it doesn't work the way the system you are describing does.