Why is everyone so certain that the masses will be willing to use a currency with no consumer protections? Seems pretty optimistic to me.
Does any currency have built-in consumer protections? In every case I can think of, it's just that companies hold funds. Since all online payments up to a few years ago were only permitted by centralized companies, they always put holds on the money. There's nothing preventing Bitpay, for example, from holding coins for 30 days and allowing buyers to do a chargeback within that period -- that's simply escrow. They can choose to be more like Paypal, where they have "loose" holds and permit receivers of money to redeem their balance more quickly, where Paypal often eats the losses and bans accounts and/or pulls money out of users' bank accounts where able. There doesn't appear to be enough demand from anyone to get BitPay to do this, though. No reason this can't change if people want it, though: there is nothing in Bitcoin preventing it.
