4) As a result of 0-3, it follows that prices cannot be calculated at any time because prices are the result of value judgements and there is no means of performing mathematical operations on 'value'. Prices do not define value, values cause prices.
+1 this is the crux of the issue, and was what I was trying to get across before.
Some people say they want a coin with a stable price, but do they,
really? What they actually want is a coin that is valued such that they can rely on it's price. That's an altogether different thing.
Something has a reliably stable price over time because people trust and assign a stable value to it.
However the corollary is NOT true. I can try to sell my turds for a fixed price. That in no way makes them valuable. Furthermore, the minute any fools are lured into paying my "stable price" for them, someone else smarter and richer will be able to profit by speculating on their real value.
Exactly. They don't want stability, but some might want low risk investments. Low risk =| artificial stability. I love the irony of trying to make something low risk in Bitcoin, considering Bitcoin's current nature of being through-the-roof-high-risk. Mastercoin at it's current state is not economically viable and would be doomed from the start as bytemaster and others painfully have tried to explain over ten folds of posts.
Combined with the above mentioned vital faults in the white paper, the funds being funneled directly into his "private" Bitcoin address and how the project was rushed along spawned the initial scam accusations.