This episode contains strong language.

What started out as a kind of inside joke in the world of cryptocurrency has quickly become, for some, a very serious path to wealth. Today we explore the latest frenzy around a digital currency, what it tells us about the flaws in the old economy — and the risks and rewards of the new one.

Guest: Kevin Roose, a technology columnist for The New York Times, spoke with Glauber Contessoto about his investment in Dogecoin.

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Background reading: 

• Dogecoin has experienced a scarcely believable surge in the past few weeks. And the currency’s value has been closely tied to the Twitter presence, and even the “Saturday Night Live” appearance, of Elon Musk.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.