Newly-elected Bitcoin Foundation director Brock Pierce launches new dollar-backe

[epere]

http://blogs.wsj.com/moneybeat/2014/07/08/dollar-backed-digital-currency-aims-to-fix-bitcoins-volatility-dilemma/

This probably do not speak for everyone here.

[TheButterZone]

I see you, and raise you 1 satoshi per 1 USD.

[hilariousandco]

And what happens when people start paying two dollars for one coin? I don't see how this will work or if they've thought it through properly, but maybe they don't care and are just creating another typical alt coin that can be pumped and dumped and the devs can run off with all the money.