I am convinced that bandwidth, disk space, and computation time necessary to distribute and "finalize" a transaction will be prohibitively expensive for micro-payments.  Consider for a second that the current banking industry is unable to provide a reasonable micropayment solution that does not involve depositing a reasonable sum and only allowing a withdraw after a reasonable sum has been accumulated. 

Besides, 10 minutes is too long to verify that payment is good.  It needs to be as fast as swiping a credit card is today.

Thus we need bit-banks that allow instant transfers among members and peer banks.   Anyone can open a bit-bank but the system would, by necessity operate on some level of trust.  Transfers in and out of the banks and peer-to-peer would still be possible but will be more costly.   Thus, a bit bank could make money by enabling transfers cheaper and faster than the swarm with the added risk of trusting the bank.  A bank has to maintain trust to make money.