The fatal flaw with "because you can exchange private keys, nobody will make transactions" is that the value of a private key is ~[public key value] / [people
or software who saw the private key even once]. In practically every circumstance, it's cheaper to pay the transaction fee (which are decided by miners, FYI).
Even if the fee is 0 satoshi, people will still mine to help the network - because they own coins and want there to be blocks & confirms.
Quite ironic how MoonShadow's power trip is hardly polite:
I think I've had enough of this BS. I warned the OP early that there was much to be learned on this topic by simply reading the forum and using the search function. Apparently no one bothered to attempt it, because I keep seeing tired arguments that have long been settled.
This thread shall be locked.
Beeblebrox, learn to do some research before you start spouting crap about a complex subject for which you do not understand. If, after some effort on your part, you still do not understand why you are wrong; ask again politely in the Bitcoin Discussion section, and I have no doubt you will get the clear answers you seek. Too many of the old salts here are not going to bother to post in the newbie section, or even read your complaints, to expect that the best responses are going to be found here.
