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I didn't like what I saw with the lightning network at first. The idea of creating IOU's and limit between two peers ...

I might have to look deeper more into it for better understanding.

Nah your'e right i didn't really like Lightining network at first either but when you study how Visa and other such systems are working at-least on the technical end you tend to think that lightning network is ok .The one thing i am impressed by is the fact that people are constantly working on improvements but i think consensus is the key and it appears that lightning network has enough of a consensus.Always remember as long as the code is open source its still a win in comparison to how traditional systems work.