What is this USD Coin? (United States Dollars)

"I'm looking to diversify into a few altcoins, and this one looks popular. What's the miner reward schedule on USDCoin?"

"Well, it's not a set formula really, we just print them when we need to. Usually some sort of banking crisis."

"Oh whoa, so no fixed supply? What percentage of nodes have to agree on how much is printed?"

"Well, there aren't really nodes per se, it's sort a handful of guys that we trust won't abuse the system. They're pretty smart about this whole economics thing. I mean, we haven't worked out predicting the crashes, but we're getting faster about turning on the printing press."

"How much was premined for the developers?"

"Well, like I said, there's no developers, they're more like, uh... forecasters? We give them what we print and they make sure it's distributed for a small percentage cut. On the bright side, never having software improvements means we can't introduce bugs!"

"Wealth distribution?"

"The top 10% hold 76% of the coins."

"Do you realize Dogecoin is superior to this in every way? Why would anyone use this?"

"We drone you or put you in a cage if you don't."

"I'll take a thousand."

"Excellent. You can submit your bitcoins to this address."

Source: https://np.reddit.com/r/Bitcoin/comments/6k7sx6/us_dollar_tanks_hard/djka5v8/