Doesn't this mean you are the only investor who bears zero risk for investing, and so have a heads-I-win-tails-I-get-my-money-back situation?   If this is genuinely as good an opportunity as you represent it to be, and the number of coins created (and therefore the relative value of each) is determined by the total amount of investment.... You see where I'm going with this?  You have the most to gain, and you hold no risk whatsoever.

I think it would be more appropriate to have these funds create and finance a non-profit foundation dedicated to stewarding the development of Mastercoin, with the funds being controlled by a fragmented key.

The concept here is really solid, and I think it's fine to fundraise in this fashion but I am uncomfortable having the entire finance under the control of a single individual even if he is the founder and especially if he is the largest investor and primary beneficiary of funds.  That is not investment, it is savings being rewarded as the highest of risk activities.

. . .

 I would encourage you to put together a board of reputable community members to allay this concern because currently what you're offering is to implement something at your own time with you set to recieve an enormous reward commensurate with a large investment when really you have no skin in the game at all.   

I'd love to get paid a fair hourly wage for what I do, but i'm more concerned with making it happen because if I don't do it nobody else will, than I am maximizing my potential revenue.  It seems like you're trying to have two cakes, and also eat some pie.