"Try and see ordinary people deal with a Bitcoin wallet and discover there's no recourse if a vulnerability in their computer means the contents are irreversibly stolen."
I lived in a period without debit and credit cards. You dropped your cash it was gone. I'm not sure not having a reversal transaction is the killer missing feature.
I know what life is like with the existing feature of getting thousands of stolen dollars back by relying on the banking (and/or legal) system. I won't willingly adopt a system without it.
Wouldn't the same laws apply regardless of payment? If a store defrauds you or if you know who the other person is in the exchange (regardless if it's cash or bitcoin or gold).
If you don't know the other person then cash or bitcoin it wouldn't matter.
If you drop your cash it's gone. If you drop your bitcoin wallet and you backed it up you still have your bitcoin..
I lived in a period without debit and credit cards. You dropped your cash it was gone. I'm not sure not having a reversal transaction is the killer missing feature.