Sorry, but you answered a question I did not ask.
My question was, have YOU tried ?
Obviously, you haven't. If you did, how would paypal know which side to take ?
When a consumer disputes a charge form a business, it's their policy to side with the consumer and let the business eat the cost of the fraud. The business in turn will factor in the cost of the fraud so everybody is paying for it at the end of the day.
In a p2p payment, it's just too easy to pretend your account was hacked so the same policy cannot be applied.
You've hit the nail on the head.
I'm figuring that a lot of people would like to put some restrictions on their savings account so that if some hacker DOES get access to it, it's not game over right then.
You wouldn't be able to spend money straight out of your savings account to a merchant. You would have to transfer it to your checking account, and you would have to wait until the waiting period was over before you could spend it. This is a feature that could be added to bitcoin if a lot of people wanted it, so it isn't the central thrust of the paper.
The main thing I want is to allow the creation of new currencies with new rules, no programming required, all running on top of the bitcoin protocol. I'm convinced that the ability to create coins that track the value of a ticker is going to be a really big deal.