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Author Topic: Non blockchain exchange of bitcoins.  (Read 1007 times)
Bitcoin Oz
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July 12, 2012, 02:05:08 AM
 #1

1.Stick a new wallet.dat on a cd.
2.Mail it to your friend fro a randomn mailbox.
3.Your friend copies the wallet.dat when the cd arrives.
4. They post you cash from a random mailbox.
5. $profit ??

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BrightAnarchist
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July 12, 2012, 02:12:12 AM
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if someone sent me coins that way the first thing i'd do is spend them to another wallet that I know the sender can't have a copy of
Bitcoin Oz
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July 12, 2012, 02:21:38 AM
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if someone sent me coins that way the first thing i'd do is spend them to another wallet that I know the sender can't have a copy of

I left that step out since its so obvious. You use a clean wallet only funded with the exact amount of coins you want to transfer.

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July 12, 2012, 02:33:07 AM
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why not email them the wallet.dat, or the private key or instawallet address

edit: or irc, or facebook chat, or ...
BrightAnarchist
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July 12, 2012, 03:56:33 AM
 #5

I've actually already done this kind of thing.

I had some btc on deposit with a forum member, and transferred that deposit to another forum member.

No blockchain involved.

I think this kind of thing will become more common as bitcoin banks become more robust. Eventually the bitcoin network will only be used for settlement IMO.
Bitcoin Oz
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July 12, 2012, 04:08:19 AM
 #6

why not email them the wallet.dat, or the private key or instawallet address

edit: or irc, or facebook chat, or ...

Thats another way. Signed and encrypted email is the ultimate way to do this.

DeathAndTaxes
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July 12, 2012, 04:22:41 AM
 #7

if someone sent me coins that way the first thing i'd do is spend them to another wallet that I know the sender can't have a copy of

I left that step out since its so obvious. You use a clean wallet only funded with the exact amount of coins you want to transfer.

I think you miss the point.

1) A sends private key to B
2) B sends cash to A
3) A spends private key and B loses.

Note step 3 can happen at any point in the future until B "spends" the coins by making a transaction to another address either his or another person.

Worse if B sends the private key to C ...

1) A sends private key to B
2) B sends cash to A
3) B sends private key to C
4) Funds are moved from private key.

Who did it?  A? B? C? D ( a 4th party who gained access to the private key due to poor handling by A, B, or C)?

Bitcoin Oz
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July 12, 2012, 07:23:45 AM
 #8

if someone sent me coins that way the first thing i'd do is spend them to another wallet that I know the sender can't have a copy of

I left that step out since its so obvious. You use a clean wallet only funded with the exact amount of coins you want to transfer.

I think you miss the point.

1) A sends private key to B
2) B sends cash to A
3) A spends private key and B loses.

Note step 3 can happen at any point in the future until B "spends" the coins by making a transaction to another address either his or another person.

Worse if B sends the private key to C ...

1) A sends private key to B
2) B sends cash to A
3) B sends private key to C
4) Funds are moved from private key.

Who did it?  A? B? C? D ( a 4th party who gained access to the private key due to poor handling by A, B, or C)?



Its probably best to spend the coins to your savings wallet then delete the wallet.dat you were sent.

Of course you can never trust the wallet you were sent by your friend.

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