Brock Pierce launches "Realcoin" a dollar-backed coin that competes with Bitcoin

[dadugan]

At best it creates a floor value, which is heavily dependent on a centralised reserve. Will the reserve increase? Decrease? How much is the reserve?

I haven't seen anything about Realcoin after the announcement.  Either Pierce realized that it was a bad idea and gave up, or he is working quietly on it.

Pierce has some impressive record on game virtual currency and is responsible for building a global trade network for it.

He doesn't strike me as the the kind of person that will give up easily.