This week, a bunch of independent donors raised enough money to send the Jamaican bobsled team to the Olympics.So once again — But one of the stories that came out of that story was all about this, right here— And yes, it pops up phrases like “such currency” and “wow” all over the site.The reason that we started with the Jamaican bobsled team and wound up at a cryptocurrency with a dog on it is because Dogecoin’s subreddit raised $30,000 of the team’s travel price tag.And up until this story broke, I thought it was a joke.And it looks like I wasn’t the only one.So that still leaves us with the question—what the fuck is Dogecoin?I have much answers.Dogecoin is a cryptocurrency based on the doge meme.I’m in no way explicitly encouraging you to go out and put your money in doge (you do you, after all), but I do want to share with you how you would go about doing such a thing.The name cryptocurrency comes from the word cryptography, which is the word for the art of writing and solving codes.

“Crypt,” the beginning of both of those words means something that’s hidden or private.So a cryptocurrency is a few things—made of code (and mined by it) and also hidden, private and therefore hard to counterfeit.A cryptocurrency is decentralized and only has value if people agree it does, so it’s value isn’t influenced by any national bank.In short, it’s money that’s completely divorced from a political entity.Transactions are also peer-to-peer, anonymous, and virtually untraceable because the transactions, like the coins, are made of unique strings of numbers and letters—that means a lot of people use cryptocurrencies for illegal purposes, but philosophically all it means is the transfer of power from an institution to an individual.Much like queer movements, cryptocurrencies are considered a counterculture.Bitcoin was the first cryptocurrency to hit the market/internet/world (and we’ve written about that before).Then came the flood of other cryptocurrencies (sometimes called altcoins)—Litecoin, for instance, is a Bitcoin competitor that can be effectively mined (generated by a computer algorithm, but with a limit on the potential total so as to protect the value) on consumer technology rather than the crazy server farm you need to mine Bitcoin.

Dogecoin is based on Litecoin—it can be effectively mined (not the correct word for this currency, but we’ll get to that) on consumer technology.And like all other digital currencies or alternative currencies, it’s culture is marked by a distinct vocabulary.Dogecoin started out as a simple tweet, which was me parodying the sheer number of altcoins (alternative cryptocurrencies) coming on the market. with a picture of the famous Doge meme photoshopped on a coin.Billy, my co-founder, got in touch with me a couple days later saying he’d turned it into a real thing and the rest is history.Did you know that if you visit this handy website, you can see how the market’s doing on 81 cryptocurrencies?And that I read this thing, which claims that Nyan Cat is getting its own virtual currency?My verdict is that the internet, in its entirety, needs to go home.But at least this particular virtual currency is really fun.This has been the sixty-fourth installment of  Queer Your Tech with Fun, Autostraddle’s nerdy tech column.

Not everything we cover is queer per se, but we talk about customizing this awesome technology you’ve got.Having it our way, expressing our appy selves just like we do with our identities.Here we can talk about anything from app recommendations to choosing a wireless printer to web sites you have to favorite to any other fun shit we can do with technology.usb bitcoin mining device buyWill Dogecoin Be the Next Bitcoin?bitcoin etf march 30Or Maybe Something Better There's a new cryptocurrency on the virtual block called Dogecoin, with a cute Japanese dog for a logo.bitcoin sorteBut while its Shiba Inu mascot is almost too adorable to take seriously -- and the currency itself started as a joke four months ago -- Dogecoin (pronounced DOHJ-coin) is now looking to challenge bitcoin and become a legitimate, widely accepted method for buying things online.100 mh/s bitcoin

Having a cheerful, over-the-top dog meme as its mascot shouldn't cause people to take it less seriously as money, says Ben Doernberg, a volunteer on the board of directors of the Dogecoin Foundation, a nonprofit organization that started in December 2013.Alexander Hamilton, Abe Lincoln and George Washington are portrayed on our currency looking stern and sober for a reason: To instill confidence that those bills and coins will have value for years to come.litecoin hash rate to usd"For young people who spend all of their time on the Internet, I don't know that it's any more weird to have a guy from the [1700s] there than a dog," Doernberg, 25, says of U.S.bitcoin ato ruling"I don't think it makes any more sense to have Ben Franklin there than Doge."btc usb bitcoin miner

Like many other cryptocurrencies, Dogecoins are mineable, meaning you can acquire them without paying in cash, as long as you have a reasonably muscular computer equipped to do some number-crunching with its spare power.There are already more than 64 billion Dogecoins in circulation, worth more than $34 million.The popular bitcoin, which leads all cryptocurrencies with a $6 billion market cap, has a current supply of 12 million.bitcoin greedOne bitcoin costs $529.50, while one Dogecoin is worth .059 cents, according to recent prices.litecoin live price chartOr, to put it in more relatable terms, $1 will buy you 1,691 Dogecoins.That's quite a low barrier to entry compared to bitcoin, which dovetails with the idea that Dogecoin is meant to be used as currency and not as a speculative investment."It's not as focused as something you hold for 10 years and hope the price goes up," Doernberg says.

Dogecoins are gaining popularity.A man in Wisconsin is selling his vacation home for 100 million Dogecoins.That equated to about $135,000 in early March, but this weekend, it only amounted to around $59,000.PC builder Xidax accepts Dogecoins, and they're accepted by GoCoin for international payments.Dogecoin supporters also recently raised $50,000 in the digital currency to sponsor NASCAR driver Josh Wise in a May 4 race at the Talladega Superspeedway.The sponsorship fee was raised in Dogecoins, which a private buyer bought for $50,000, says Kevin Dusenberry, who managed the NASCAR fundraiser for Dogecoin."Josh is the true embodiment of what the community represents," Dusenberry says."He's an underdog and the Dogecoin is an underdog."Wise, 31, of Charlotte, N.C., says he's thankful for the sponsorship, and thinks they picked a good race because drafting is allowed at Talladega, which should help an long-shot racing team like his."Talladega is really a race that levels the playing field," he says.

Having the gold Dogecoin logo as the dominant image on his car is something that Wise, and much of the general public, will view as a bit of a surprise."Until a week ago, I had no idea it even existed," he says of Dogecoin.Whether using a Doge to tip someone online because you like their video, or buying a song or something else online, the ultimate goal of the people behind Dogecoin is that we should all be able to use it easily for small, daily purchases such as a newspaper or going to a movie, and not as a speculative investment for your child's college fund, Doernberg says."The goal is to actually be the online currency," he says."It's just so much easier than putting in a credit card," he says.A problem with credit cards, he says, is that chargebacks and the standard 2.9 percent fee that credit card companies charge merchants prevent many businesses from accepting them for small purchases.%VIRTUAL-article-sponsoredlinks%The New York Times, for example, doesn't charge a few pennies to read a story online, but it does charge a monthly fee for a digital subscription.

"The question with all these digital currencies is how do you get to the point that you can take it anywhere and someone will accept it?"Buying Dogecoins is easy enough.You can transfer money from your bank account to a virtual wallet full of Doges.Dogecoin also has its own virtual wallet.Trading them back for dollars, however, is more difficult, Doernberg says, though there are markets such as Moolah that allow it.A problem with cryptocurrencies is that because they're so new, they often gain value fast and can become significantly more expensive to buy from week to week, says John Arsenault, a Denver lawyer who represents a VPN company that accepts cryptocurrencies.Wide swings in value don't happen as much with currencies backed by governments.Such price changes can make cryptocurrencies more popular with speculators, Arsenault says."A lot of the value of a cryptocurrency is based on the Internet's perception of it," he says.And here's another fun twist to using virtual currency: The IRS recently ruled that such payments are considered property and should be reported as income, making them subject under some circumstances to the capital gains tax.

If you're making money as the market for a virtual currency rises, you'll have to give some of it to Uncle Sam.And no, the federal government won't accept Dogecoins as payment for a tax bill.Creating an emergency savings fund can prevent you from relying on a credit card and going into debt when unexpected costs strike, says "Today" show financial editor Jean Chatzky."You've got to watch it with the debt," she warns, adding that half of Americans lack emergency funds."Lack of savings and debt go hand in hand ... an emergency cushion is insurance against debt," she says.While some people prefer to manage their money on their own, others benefit from a professional's help."It's easy to feel overwhelmed by all of the competing expenses," says Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial (AMP)."Sitting down with a financial adviser can help you understand where your expenses are and what is discretionary versus essential, and then you can create the right kind of budgeting and savings plan for you."

Kathleen Grace, a certified financial planner and author of "Prince Not So Charming," says maintaining excellent credit is important as you progress through your 30s, particularly because your credit report can play a big role when it comes to determining how much you will pay to borrow money for big expenses like a mortgage.She suggests reviewing your credit report once a year to check for errors and paying off your credit card balance in full each month.Learning the ins and outs of income taxes, including any tax deductions and credits that might apply to you, can help you save a few hundred, or even a few thousand, dollars each year, says certified financial planner Nancy L. Anderson.Those amounts can add up over a lifetime, she adds."The single most important financial move you can make in your 30s if you have minor children is to put the time, effort and money necessary into drafting solid estate planning documents," says Tim Maurer, director of personal finance for the BAM Alliance of independent advisers.

They should be written by an attorney who specializes in estate planning and include advance directives, a durable power of attorney and most importantly, a will.You don't need to become a financial professional, but knowing your way around the stock market will help you make the right decisions for your own long-term savings and investments., by the National Endowment for Financial Education, for free guides on stocks, bonds and mutual funds.She also suggests taking a personal finance course at a local community college.How to Manage Money in Your 30s How to Manage Money in Your 20s How to Save $500 This Month Read Full Story Markets US Globals Currencies All index data provided on a 15 minute delay.Can't get enough business news?Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!Subscribe to our other newsletters Emails may offer personalized content or ads.You may unsubscribe any time.