You are correct, if you think about it as a payment channel between you and your landlord, and a separate channel between you and your employer, I believe. Howe

You are correct, if you think about it as a payment channel between you and your landlord, and a separate channel between you and your employer, I believe. However, the way it's more likely to end up shaking out is as an interlocking network of trusted intermediaries, much like Visa/Mastercard are now. Your employer will pay you, and then you will pay your landlord. But the only channel you'll have open is one to this 'visa' like entity that sits in the middle, and so will your employer and your landlord. So that trusted intermediary will ensure you don't double-spend to other parties in their channel, but who are the only parties you could double spend to. At least, that is my understanding of how the model works - I haven't read all 59 pages either, though.