>If you own it, you can spend it, regardless of what anyone thinks.

Which is also its primary drawback.

Transactions are non-reversable, which inherently makes it unsafe for wide-scale use. Consumer protection is so important, clawing back payments is an incredibly important part of that.

Wrong copy-paste and all my money could just be gone forever? Yeah no, that's never going to fly in countries where consumer protection is seen as an important public good and always expected.

What you tout as a plus, is a major negative for the vast majority of people in developed democratic countries. In quite a few of them, access to a bank account is even a fundamental right.

And all that just because of some abstract fear? nty.