Your eyes are blurred by BitCoin since you don't make sense if more than half of what you said.
I said BitCoin is cash, people always used cash, but also people but cash in bank to protect it and they can use their debit cards.
1- if your debit card is stolen then you are protected by the bank, my friend here in US her card info was stolen by someone in China and he spent her money on a british and a Swedish websites, GUESS WHAT? they gave her back every single cent that hacker spent. Such thing can not be happened with BitCoin, if your BitCoin is stolen then they are gone!
2- when I go to the cashier to buy soda for $2, I give her $20 cash and she give me back $18 (No Transaction Fee).
You know which Neighborhood is bad and which one is good. Here is news for you: the more drug dealers succeed in transferring money the more neighborhood they invade and the more strong they are!
http://miami.cbslocal.com/2014/02/06/two-charged-in-bitcoin-money-laundering-scheme/BitCoin is not cash, it is not cash, never, not will be. As long as there is a transaction fee, then it is not Cash. people chose to put Cash money in banks and pay transaction fee to protect their cash. So basically Bitcoin is a mobile wallet in term it is a mobile bank where you are the bank and not someone else!
Then you don't need police, you go hold a gun and stay up day and night to protect yourself from trespassing and fraud and drugs...etc, why do you sleep safe at home? because there is someone else protect you!
Deposit money at an exchange, bullshit, it is the most stupid way to do it, you gave your tax declaration? how about a Chinese? or Vietnamese? or Al-Qaeda: they probably are transferring money from country to another right now and funding all kind of crap!
I don't have to lose my cash, I don't lose it cause I don't carry cash, it is in my bank, if I need to buy something I use my card, if my card is stolen then my money is protected by the bank. I have so many times my bank call me or send me an email asking me of a this transaction or that is legit.
You don't get the idea: if people wanted to carry cash they wouldn't have invented banks, the reason banks were invented is because people wanted a mean to protect their cash!
In order for something to be bought and sold then the average person need to understand it, it has to be easy for them to use in order to use it!
I don't care right now if I click on shit on the internet, I don't care right now if get tons of viruses on my computer, if my identity is stolen, my bank and all my credit cards are protected period! and I know my money at the end of the day will be there as it was before the hack.
While if I have my retirement paid as BitCoin with a private key: I could lose it all if someone stole my private key! there are no insurance for your money on any website that deals with BitCoin or they may insure only a small portion!
And you are wrong about my bank will let me down if I get trojan virus, this statement is completely wrong, I am protected and secure with my bank!
Only way to lose my money is if my bank file Bankruptcy and then there is the FDIC insurance.
If you use BitCoin you better know and have facebooks, if you don't know or have facebooks then BitCoin is absolutely not for you.
Another thing to prove that BitCoin is not built to be used by an average person, BitCoin system is more complicated than using facebook!
My money in my bank doesn't need algorithm, at least not on my part, and my money is secure there. I put a thousand or 100 thousands in my bank, I am good and protected, but to put 100 thousands in a wallet that it's key will not only be stolen but if it is gone then it is gone forever? this is insane!
Another inaccurate statement: people are putting money in BitCoin knowing it is completely risk BUT hoping that someday (the big dream) it will become worth a million dollars and then cash it out and go live in Hawaii!
Having BitCoin carries too much risk, too much too much risk.
http://www.technologyreview.com/view/526161/the-troubling-holes-in-mtgoxs-account-of-how-it-lost-600-million-in-bitcoins/Over 650 million dollars were gone! not because of the user!!!!!! but even worse, because of the website and where is the money??? IT IS GONE! BYE BYE
For the first time in internet life you are putting billions of dollars out there online for the hackers to look for!
Before the hacker would be so happy to hack 10 bucks, now it is billions out there!
For 10 bucks a hacker would work little bit hard, for billions a hacker would stay up day and night to find a way to rob that money! and so far they succeeded with about a billion dollars (including MT GOX).
It has a lot to do with Tax too, people aren't reporting it, they are staying anonymous and make money from trading and then they claim unemployment and shit and get food stamps and crap and my tax pay for their shits!
Your only a dreamer and your eyes are blurred so you don't want to see reality. Again I wish I would be wrong and things are different, but day by day I realize it is not worth it. Simply BitCoin is not worth it, it is just more headache you have to worry about just to use it as cash (which is not cash since there is transaction fee), I can carry my own cash or even better my debit card which right now every single store in US deal with those debit and credit cards!
FYI, BitCoin was found for merchants and not the average user (because of no double spending and no cards rejects), so really the average person is very protected with bank and he doesn't need to use BitCoin, However it might be a different deal for the merchant if the merchant is willing to accept all the risk!
