All very valid concerns. I think this idea is worth a (well executed) shot. Let's address *every* possible technical issue to a logical end in your theory this month before you undertake writing the source
I would prefer if these coins are destroyed via making 1exodus a blackhole by destroying every copy of the key, and for a separate fund to be created to support development, or vice versa. You can even send the coins back to the sending address if it turns out there's a flaw, and start over. Anyways, would this be more fair? why or why not. because if you spend bitcoins from 1exodus, the coins will get recirculated into the bitcoin ecosystem. i don't think this is good for establishing the value of MSC. Consider the fact that we have not had the luxury of two years' obsession poring over these ideas when answering our questions and concerns. The important thing is that we discuss these things through to a logical end.
But, all in all, this idea is too good to just let it not happen. We
must make it happen.
Once you understand
the risks, and have properly consolidated your coins in a single address in a PC wallet, you can purchase MasterCoins by sending your bitcoins to the Exodus Address, which is: 1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P
Also, I'd be grateful if a few people could quote the Exodus Address on this thread, as that will make it less likely that someone will try to hack my account and change the address.