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You can't call the cops because a virtual currency is not protected by our laws, it's game money.
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This is not true. See
Trendon Shavers.
I've lost faith, I don't think this currency can survive unless some protection methods are in place.
Irresponsible people who are incapable of securing their own wealth should use currencies that are completely controlled by other entities. That way you can rely on those other entities to keep you safe from your self. Freedom loving people prefer to control their own destiny (and their own wealth).
Or the US FTC could step in and start forcing BTC clearing houses to adopt consumer protection laws and we're basically forcing BTC to get institutionalized by the big companies again.
What is a
BTC clearing house? I've never heard of such a thing.
How could the Bitcoin community provide protection and self-governance without having the governments step in?
Education and new layers built on top of the existing protocol. I assume that there will eventually be bitcoin "banks" that will protect your money for you if you don't feel capable of doing so yourself. I wouldn't trust any such bank unless/until they are insured by a major insurance underwriter, and independently audited on a regular basis for both security practices and accounting practices.
