For your queries here is my simple explanation IMO.
Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.
Once big institution invest in Bitcoin and joining in the market, expected that they will become a big whale in the future. Imagine if one of them will immediately sell their assets, of course it will make an impact directly on Bitcoin. Regarding the most influential person now on Twitter, we have nothing to do since people keep believing in him, just close your ears to them and ignore him as soon as possible and no one will make a FUD in the market. Bitcoin circulation too is easy to manipulate once you can able to play the market because Bitcoin price has a simple algorithm, it's because of the demand and supply.
Reason 2: Nobody can take away your bitcoin whereas the bank can confiscate your cash and lock your account - should I worry about my bank doing this if I am not doing anything that is illegal?
Know first if your government accepts Bitcoin as legal in your country, if so, there's no reason Bitcoin becomes illegal in your country. But as long as your Bitcoin didn't convert to fiat, there's no worry on the bank that will take action.
Reason 3: You can send it to anyone in the world - why would people want Bitcoin when you cannot use it to purchase in many stores? Plus ii takes too long for 1 transaction to go through.
Who said you can't purchase using Bitcoin, there are too many online merchants that accept Bitcoin, and even the largest payment processor Paypal was already adopted on it.