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color="#0000ff"
convert -size 100x -background "$color" label:"Hello" -bordercolor "$color" -border 20x20 label.png
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But when using a translucent background color like...
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color="rgba(0,0,255,0.5)"

Adding -background none just before the -border command doesn't help.
What's the correct way to it?
(This is with ImageMagick 7.0.3-0 Q32 x86_64 2016-09-07 on Linux.)