[deadfish]

Not that I don't agree with a lot of what you are saying, but I think despite being digital crypto is a lot more like cash than card payments. But cash also has 'no rollback, no fraud detection or insurance'. At least you are don't have the risk of counterfeit notes.

[grey-area]

Sure, and that's one of the reasons cash is going to disappear in the coming decades and yet another flaw in the design of bitcoin (which was modelled on physical currency or some sort of electronic gold just as that loses favour). It's not competing with cash, it's competing with free instant transfers between bank accounts and free payments (for the customer), which many people enjoy right now.

Physical currency was always an instrument of states, and now they have better ones, which retailers, consumers, and states prefer (digital currencies, not cryptocurrencies). In many countries cash usage is down to 20%, it's expensive to produce and manage and not required any more.