[mmichaels1970]

Of course you must be diligent about making your backups and all that, since all digital media will fail from time to time. That aspect makes it a pain in the neck.

A good point. But I'm thinking that possibility that we CAN backup our "cash" is intriguing. Imagine if you left the house with a $20 bill and it blew out of your pocket. However, the guy who found your $20 bill would have a very difficult time spending it if he couldn't crack your password. Meanwhile, you could return home an grab your backup $20 bill from your underwear drawer.

You can probably poke a bunch of holes in the idea, but I find that even the remote possibility of it is very interesting.

[Cementjungle]

A good point. But I'm thinking that possibility that we CAN backup our "cash" is intriguing. Imagine if you left the house with a $20 bill and it blew out of your pocket. However, the guy who found your $20 bill would have a very difficult time spending it if he couldn't crack your password. Meanwhile, you could return home an grab your backup $20 bill from your underwear drawer.

You can probably poke a bunch of holes in the idea, but I find that even the remote possibility of it is very interesting.

I was thinking more of larger sums of money... like retirement accounts. These at least have some sort of coverage (FDIC, SIPC, etc.) in the event of some sort of problem. If we keep large sums of money in Bitcoin electronic "wallets" and our computer dies, and we don't have a proper backup, we would be totally out of luck.

A lot of people don't want to be computer technicians just to manage their cash assets.