Comment Re:So what's up with those bitcoins? (Score 1) 104
If you're thinking "but wait, that means there wouldn't be enough bitcoins in existence to allow everyone to withdraw their deposits", then congratulations, you understand how banking works.
With BTC denominated accounts if everyone tries to withdraw their BTC at once the bank has a big problem. They can try to buy BTC to cover the withdrawals but there is no guarantee they will actually be able to.
Now you understand how banking works. That's now a flaw in the system, that is the system. A savings account is a sort share in the bank, it's not at all a bundle of money in the vault.