That is not mining. Mining dollars happens when when banks engage in fractional reserve banking, lending out money that is simultaneously "in" a depositor's ac

That is not mining. Mining dollars happens when when banks engage in fractional reserve banking, lending out money that is simultaneously "in" a depositor's account. But that doesn't create money, so much as temporarily creates an illusion of more money existing, hoping that there will not be a bank run to withdraw all of it. With non-reserve banking, when gold is passed around as money (possibly with seignorage), it is mined by digging in dirt.