Edit: the idea I proposed as a solution is also flawed.
I will be starting a new unmoderated thread to discuss in detail all the flaws in crypto currency.
So this can be explained well so that everyone can understand what they are investing in.
I'm confused.
One second you're stating you have the holy grails, the next you are starting a thread to point out there aren't any? :|
As you wrote, temporary chargebacks (inconsistent channels a.k.a. partitions) can be allowed and resolved with a proof-of-work scheme. Any other schemes you are contemplating won't work and I will tear them apart once you detail them.
They can not be resolved in a DAG scheme (e.g. Iota) without some centralized control.
Proof-of-work is centralized at 51% control. This encourages the nation-states to organize into cooperation on regulation of the internet in order to regain control over money. Governments and society will not give up this control and will instead decide to cooperate so the system described below can control to move us towards the 666 system which is rapidly taking form. Bitcoin is designed to drive us towards a world governance.
Centralized control is loss of permissionless principle. It means the government takes control (because the Power law distribution of capital always drives a collusion amongst government and big capital in a winner take all paradigm).
There is no POW required to secure a CL (channeled ledger), nor is it a block chain, or a DAG. Neither are there any charge backs in a CL design because the state of truth never gets to a point where you have to revert to them to resolve inconsistencies...which also means the risk of any centralization required to resolve said issues is next to nil, the network can always resolve itself.
If block chains or DAGs or Ripple style ledgers could do what a CL allows, well, I wouldn't of wasted 3 years reinventing the wheel and tearing it apart myself and starting over.
The truth of each channel still has to be a consensus. It doesn't change the fundamental issues of how to prove consensus about double-spends within the partition. Even there are chosen nodes who are signatories for determining the truth of the channel, this then not permissionless because the government can attack those specific nodes.
Detail your design and I will rip it to shreds.
Not intending to be unfriendly, but I am tired of bullshit (especially bullshitting myself because I don't want to waste any programming effort). I have done all these designs in my head.
If there is a design that can improve upon Bitcoin, then I want to work on programming it. If not, then I want to not waste effort. It would be better for me to make some fast transaction addon for Bitcoin than to waste effort on designs that won't improve upon what is.