eventually this will drive us to a fractional reserve system again.
There's nothing wrong with a fractional reserve system, just look at systems of self-issued credit (like Ripple). The problem is with legal tender laws that force you to use a particular debt instrument. With voluntary exchange, competition between systems would keep them honest.
Well indeed there is a problem if the only option you have is to use a fractional reserve system because the hard limit of 1mb. Specially if the 'bank' cannot give you back your bitcoins because everybody else has withdrawn theirs for whatever reason
