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>I think it's pretty neat you can implement a variety of security schemes depending on your risk tolerance and convienence requirements.

Can you tell me the last time some you know had money go missing from their bank account?

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Lots of people lose money because of scams, cards getting stolen/scanned/photographed, etc. - in a lot of cases, the banks just cover the cost and can rollback transactions because everyone has agreed that's how the system works. It is not because people do not have money stolen from their bank accounts due to various breaches.

My understanding might be wrong, but I believe during the 2013 Cyprus bail-in, all Cypriot depositors had money missing from their bank accounts: they lost 9.9% of funds above the insurance ceiling, 6.75% of funds below the ceiling:

http://www.economist.com/blogs/schumpeter/2013/03/cyprus-bai...

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