Quote from: Raymond Gary on Today at 11:39:15 AM

[1].Sending Bitcoin to a wrong address that has never been recoverd till date.

But this is how life financial life works. This is not a bitcoin protocol problem.
If you transfer money to the wrong bank account, your money is gone either. It is easy to contact the owner of the bank account, because you don't have any privacy in bank accounts.

You need to know where you are sending your money to, no matter which currency (bitcoin or fiat) you are using.

Quote

[2].High transaction fees.

[3] .Having to wait for almost more than two days for a transaction to be confirmed.

Those 2 points are contradictory.
With the bitcoin lowest fee you can easily pay about 0.06 USD (or even less). You tranasction might be confirmed in about an hour, or it may take a few days if the network is congested. Either way, you won't be paying high fees and wait more than 2 days to get a confirmation.

I think that paying less than 10 cents of USD for a transaction which can be send anywhere in the world, censorship resistance, with a decent degree of privacy, is very cheap.