Quote from: Come-from-Beyond on December 12, 2015, 05:15:44 PM

Quote from: eragmus on December 12, 2015, 04:40:01 PM

If I'm wrong about all this, then I look forward to a comprehensive refutation Wink

If I criticize projects mentioned by you it won't look good.

Check what these projects say about themselves. Start from the project 1 - http://lightning.network/lightning-network-paper-DRAFT-0.5.pdf. For example, read section 5.5 and tell me how nanopayments are possible.

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5.5. Fees
Lightning Network Fees, which differ from blockchain fees, are paid directly between
participants within the channel. The fees pay for the time-value of money for consuming the
channel for a determined maximum period of time, and for counterparty risk of noncommunication.

No, feel free to criticize away. Please don't avoid the questions + reasoning I've provided?

Refute it all, if able.

re: Lightning

It's better to source up-to-date documents. The paper you cited is 10 months old and was the first version released:

From the summary document:

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Lightning enables one to send funds down to 0.00000001 bitcoin without custodial risk

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The coming increase in internet-connected devices needs a platform for machine-to-machine payments and automated micropayment services. Lightning Network transactions are conducted off the blockchain without delegation of trust and ownership, allowing users to conduct nearly unlimited transactions between other devices.