I disapprove of spiral_mind and this thread.
me too
spiral_mind thanks for the warning, but i think your wrong.
first, every Mastercoin TX will recorded on the block chain so it wont be hard to see if he starts creating them out of thin air.
second, the protocol he plans on implementing will be open-source, i'll read the source code, and not this conspiracy theory
This seems like an investment risk more than a scam.
His "coin" is similar to ripple, whoever buys in will probably know the risk of a single-minted close-source altcoin. Let it be.
Mastercoin ( if implemented like he said he would ) will offer perfect information to all participants at all times.
It should put ripple to shame.