Nobody ever addresses the money laundering issue or wash trading that goes on that gives Bitcoin the illusion of liquidity.
>".... one entity in charge which gets to set the level of fairness"
Exactly what is unfair about the current system? The way we insure fairness is with laws and regulation. A system without those will suffer - well - lawlessness.
How is it centralized? The vast majority of dollars only exist as bits in computers in multiple banks all over the world. Doesn't get more distributed than that. Not only that - if you don't like dollars trade it for Euro's or Yen - you can pay your rent, mortgage and buy things with them also.
Other benefits of the current system. If someone steals my credit card I'm only on the hook for $50. My transactions are confirmed in a matter seconds pretty much anywhere in the world. I AutoPay many of my bills. If I set up automatic payments with Bitcoin I wouldn't be able to sleep at night.
There are problems that Bitcoin could help solve - it just isn't replacing currencies. I see a technology in search of a problem.
