[crypto] silicon valley pouring huge amounts of resources into creating a new system of imaginary nonsense money that's completely arbitrary and rife with opportunities for abuse

did anyone tell them that we already have one of those

it's called "money"

money doesn't have enough apes plastered on it, just your local country leaders (past and/or present)

Legal Eagle just put up a breakdown video that basically worked overtime to not SAY it was a Ponzi scheme

Despite contextually saying it was a Ponzi scheme like 12 times

hey now not ALL of crypto is ponzi schemes

it's a diverse ecology of varied scams

Did you know banks used to just print their own money?

It's just that but stupider

do they not still do that

not in the sense of "the money is inherently tied to the bank that printed it" like it was back then

Well the more modern way of doing it is having one government-controlled bank that prints the money

Wildcat banking - Wikipedia

My new job just assigned me to help a cryptobro firm find new employees and like, I just got out of one problematic job could you please not order me to help con artists recruit people to help them?

no i get what quinn's saying - banks might not literally print money anymore, but they do seem to create money out of whole cloth, digitally

That's in the same genre but it's not the same as "minting", which is the comparison I was trying to make