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You're wrong about BTC transactions happening on physical paper with no connection to the network. It's not possible.

Technically yes, a “transaction” is on-network - but one can trade wallets (eg: trading paper keys or “Physical bitcoins”). The definition of the word “transaction” is the important bit here.

You can give me the private key to a wallet, but if I'm not connected to the network to see how much money it controls, that's not much good. Even if I trust you temporarily, at some point a network connection is required. Otherwise, it doesn't have anything to do with BTC.

Edit: Additionally, as someone else pointed out, you could have kept your own copy of the key and could empty the wallet before me.

Some physical Bitcoin products solve that too - but I agree completely with you here. That’s why I made it clear that it’s only -technically- possible, but not remotely practical.

Yep, dead wrong. If you hand someone a private key, you now both have control of those coins.

They’re impractical, but checkout Physical bitcoins: https://medium.com/the-capital/everything-you-need-to-know-a...

I did say -technically- and I do mean that - I’m not suggesting this is practical.

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