A flaw.. when spending a coin, your TX sends some of it to the recipient and makes change for yourself.
If you want to spend a 20BTC coin with two checks, the two checks would either interfere with each
other or one would only be valid after the other transaction is submitted. So.. this is not as simple
and elegant as I first thought.. you would want to "make exact change" online somehow before writing
checks.. which means you have to at least be partially online.. one advantage that remains, you could
use an online TX submission service to make change, and you wouldn't have to trust the service.
*sigh* oh well...
-Tim
Details, scenerio 1:
start with 20BTC
write check for 15 BTC to friend, with 5BTC back to yourself. TX1.
write check for 5 BTC to another friend (no change). TX2
TX2 is not valid until after TX1 is submitted.
scenerio 2:
start with 20BTC
write check for 15 BTC to friend, with 5BTC back to yourself. TX1
write check for 5 BTC to another friend with same original 20BTC, with 15BTC back to yourself, TX2.
Only one of TX1 or TX2 can be submitted. The second will fail.
Could this be solved by prepping addresses to have the correct amounts so that there will be no change?