https://en.m.wikipedia.org/wiki/Liberty_Reserve
P.S. Fees has actually got lower since the worst back in May, but there is no telling it won't happen again. Paying for anon hosting is not a bad idea but fewer providers are willing to provide it now - Vultr still accept bitcoin but require to have credit card on file as well due to abuse.
-Peer to peer remote transactions
-Embed money into a binary, a puzzle, an image, a file
-Non-correlated asset https://www.thebalance.com/what-is-asset-correlation-2894312
-The only money no one can take away from you, even states. Protection from governments like Greece
-Inflation hedge. Protection from governments like Venezuela.
except hackers, if they get their hands on your wallet.
That being said, I don’t think Bitcoin will become truly relevant (to the average saver) until either a) inflation picks up to a worrying degree, or b) negative interest start prevailing. When/if this happens, the advantages of a decentralized monetary unit will become obvious.
As long as you have trust in your government for making the money, and the banks for multiplying it, you have nothing to worry about.
The market's decision about what to use as a store of value is a market-wide Schelling point decision based not around "what asset has underlying value" as any underlying value is quickly dwarfed by the magnitude of the value that needs to be stored, but instead the Schelling point decision is based on what asset has the best properties for money. If you look at what has been money in the past, you'll see examples (like giant stones) that were clearly not based on underlying industrial demand.
I don't want to say I'll transfer $1000 to someone and by the time the transfer is complete the vale has dropped/I need to wait 5 days for confirmation/ the bitcoin exchange has collapsed.
Buying $10 worth of namecheap domain and pay $5 on fees no thanks!