A likely implementation seems a box where you type the username and points for the transfer recipient. I believe this was discussed a while ago, and someone mentioned that they would do programming work for karma.

I have the karma and it doesn't mean anything to me, but it means something to some people that don't have it. There are people out there that would trade real world goods and services for Hacker News karma.

The point would just be as an experiment. I'm not expecting anything good would happen immediately; we'd probably see more abuse than anything.