I see a lot of people here suggesting that everyone store their own private keys and manage their funds. While this is a good solution for many in this subreddit, we have to accept that 99% of people in the world will probably never even know what a private key is.
I think it's a mistake to mentally link "holding your own money" and "technically complex". It might seem like they're related that way today, but I believe there's no fundamental reason it must be so.
One of the core research questions Bitcoin is exploring is: can we make being your own bank not only tractable but appealing? I am optimistic we can. At the start of 2015 we have a problem whereby most decentralised wallets on the market do not, frankly, have good user interfaces. There are a few exceptions but most of them were built very early on in Bitcoin's life when the de-facto UI standard was to directly expose the notion of confirmations, blocks, keys, etc and quite a few of them haven't moved on from that.
In contrast BitBanks like Coinbase have tended to have better user interfaces that simplify things, they are dramatically more focused on growth of their user bases and they present a more conventional model in which some trusted third party is there to back you up if anything goes wrong.
A lot of the discrepancy here is to do with the different funding models, I think. If you're a VC backed startup in Silicon Valley then you pretty much have to try and target the mass market and grow as quickly as possible because VC's expect to see fast and immediate growth. If you're a volunteer hacker in the UK or Germany building a wallet without either funding or investor pressure then doubling your user base can seem more scary than welcome.
Still. It should be obvious that if we can't get most people being their own bank, then Bitcoin as a project has basically failed. The abstract of the original white paper made Satoshi's vision quite clear - it's about people sending money "without going through a financial institution". If that doesn't happen because of UI issues then the project will fail in its original design goal.
I think that fortunately there's a clear path towards making decentralised (SPV/full) wallets just as easy to use as any other kind. Wallet words help a lot: basically every adult already has to keep some kinds of paperwork safe at home so they are already familiar with how to do that. I'd like to see us develop a library to print out certificates with these words and QR codes, printers might seem old fashioned but for the sorts of people in the Chrome video I expect a lot of them to have one. So then it's like one click. This is less effort than signing up for a website would be especially when ID verification is taken into account. Then we can have optional risk analysis and key escrowing services built on top for those who want them, all integrated into the UI.
Combined with basic tweaks and cleanups to wallet UIs (like mostly hiding the notion of confirmations, getting BIP70 used between people not just companies, etc) I am confident we can achieve very simple and intuitive UIs even in the decentralised context.