First of all noone can spend its balance twice, peers won't generate such blocks nor they accept them.

The goal of 1/10th rule is to protect merchants in situation when they don't see some transactions that can be confirmed and lead to cancellation a transaction accepted by a merchant.  The goal is achieved by creating necessity to send at least 10 transactions before attempting a double-spending.  If a merchant sees at least 1 of these transactions they can refuse to sell goods.  Odds that all 10 transactions won't reach a particular merchant are negligibly small.  The network helps to protect merchants by refusing to confirm transactions that violate the 1/10th rule.  If someone sends 2 transactions (first to themselves and second to a merchant) the merchant will wait a little bit longer before getting the money if the first transaction is confirmed in the first place.  This looks like a violation of the rule, but it's completely non-critical.

Nothing bad will happen if someone spends more than 1/10th of the balance.  The rule is set to avoid risk of spending more than 100% of coins.

Merchants don't need to be connected each other.  They need to be connected to the network.

Awaiting transactions will be confirmed one by one.

Nxt requires 10 times less bandwidth and storage.  It uses signing algorithm which is faster than Bitcoin's one.  Thus it can scale to a higher degree than Bitcoin can.  There is no an implemented decentralized solution of the VISA volume problem yet.  Should we sit and do nothing waiting for it?

I meant you shouldn't derail this thread.

It will be listed in the unconfirmed transactions.  Merchants will see it and refuse to sell you anything more expensive than 1/10th minus that transaction.

Not really

2 * 1/10th will be deducted from your balance (2 NXT if you had 10 NXT).  1 NXT will go to your other account and 1 NXT to the merchant.

Reducing risk to 1/zillionth is the same as removing it.

If the first transactions is confirmed prior to the message of becoming a special account (or in the same block), then amount you can play with will be lowered.

If your account becomes "special" in the first place, then your transaction won't be included into a block until it fits 1/10th rule.  Merchants will see it and act accordingly.

This VISA scale thing should belong to other thread, if you don't mind.

This is not applied to Nxt because it uses accounts, not inputs.  A well-connected merchant will see most of the transactions, for a double-spending attack to succeed at least 10 of 11 transactions must be lost.

Agree, but services built around these features will do.  Let's continue this discussion in half a year when we see decentralized exchanges and merchants accepting instant transactions.

There are 2^256 possible addresses, the rest 192 bits are not used at the moment.  In future we may decide to use next 64 bits to extend visible part of an address, then all existing addresses that are 20 chars long now will become 40 chars long.  Right now if someone finds an address with the same 64 bits they won't be able to send transactions.



It's not very convenient to have a lot of decimal places in my opinion.  The current version of the protocol supports only 2^32 numbers, but in the future it can be changed.  Centralized exchanges can use fractional numbers to track user balances and round amounts upon withdrawal.

I can't open this link, HTTP Error 403.

Instant means not waiting at all.

Instant transactions will be implemented after the Messaging feature.  That is how it will work:
1]  You publish on the blockchain a message saying that your account becomes a special account.
2]  You use the account for instant transactions.
3]  At some point you decide to empty the account, so you publish a message saying that the account becomes an ordinary one.
4]  Now you can't use instant transactions and have to wait for 1440 blocks (~24 hours) to withdraw all the coins.

You can send 1/10th of the balance a zillion times, but all the transactions except one of them won't be included into a block.  The odds that a peer will see only 1 transaction are negligibly small, if a merchant notices other transactions that exceed the daily limit they will not sell you anything.

No, the point is that Nxt doesn't require electricity to be mined.

There is one thing here that gives Nxt the potential.  I do write the code instead of talking how it should be written.  I mean Bitcoin improvement process, which is so slow mainly due to necessity to co-ordinate work of all core developers.  Also, Nxt will be the first currency implementing colored coins and other advanced features.  Anything that comes to the market later will have to work very hard to catch up with the leader.

P.S.  Look at some useless Bitcoin forks, they jumped from 0 to hundreds thousands dollars in a few months.

Yes, I expect stable growth.  /joke

Colored coins + Messaging let to easily run USD-NXT gateways.  Merchants can ask dollars but customers will pay with nxts.  Gateway owners are the only ones who will have problems but it's their business.

I'm not Satoshi.  Hell, I would say this in any case!

No, I'm not him

P.S.  Of course, I would say this in any case