But banks don't claim otherwise. If bitfinex was upfront about only having a fractional reserve the story would be completely different. If you buy a beefsteak

But banks don't claim otherwise. If bitfinex was upfront about only having a fractional reserve the story would be completely different. If you buy a beefsteak and you later realize that it was chicken would you say "well other shops do sell chicken and people are fine with that so why would I hold this butcher to a different standard?"