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"My bank has fraud protection but if I use my debit card and the transaction goes through, it is very unlikely I will ever see those funds again"

Why would you think that? My wife had a couple of fraudulent transactions on her debit card earlier this year, and they were refunded the same day we reported them.

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The maximum liability for a credit card user is $50 but is (potentially) unlimited for a debit card user. Depending on when it was reported, your bank might not have been obliged to make the refunds.

See: http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-cre... and http://www.consumer.ftc.gov/articles/0093-credit-card-loss-p...

I see bitcoin advocates talking up the fact that chargebacks are impossible, which doesn't make me feel safe about it at all.

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