Dacoinmaster,
Would it be possible to create a short video (and post it on YT) that would explain in simple English what your project is about? My gut feeling is telling me it is something big, but I can't conceptualize it. Pictures would be welcome explaining how e.g. this decentralized exchange would work. Seeing a picture will help understand your project more than words. Pictures stay in brain for a longer time.
The reason I ask for this that I am neither a good speaker of English (which is a minor problem), but I am also a non-techie (which is a bigger problem).
Let me give you an example of a non-techie level: when you speak that Mastercoin protocol is a higher level protocol built upon Bitcoin protocol and you give the example of http built upon tcp/ip, then I neither have a clue of tcp/ip is nor have knowledge what http is (except for I use http everyday - but I have no clue what it is - it is too abstract).
Thanks
It is possible to understand the potential of this project without understanding the technology, but you DO have to have a pretty good grasp of how markets work to understand the explosive potential of MasterCoin. You also need to be able to understand the limitations of bitcoin as it is today.
Putting on my marketing hat for a moment:
Somebody with a background in trading stocks and other assets will immediately grasp how groundbreaking it is to have distributed, unregulated exchange between assets, and the ability to pseudo-anonymously (as anonymous as bitcoin can get) place bets on real-world assets. There is an UNBELIEVABLE amount of money waiting for something like this, and only ~600k MasterCoins.
If, on top of all that, the escrow-backed currencies work as I expect, the real-world applications for distributed currencies with stable values would make MasterCoins yet another order of magnitude more valuable.
The difficulty of understanding the potential of MasterCoin is not a limitation of technical understanding, but a limitation of understanding how markets work (and how freakishly big they are), and a limitation of imagination.
Our ~600k MasterCoins are worth about 12000 BTC at current prices (about $1.5M). MasterCoins don't have a huge market cap right now because there are also a lot of risks. A TON of very real risks from numerous sources (potential competitors, technical risks, security risks, etc). However, I believe we are on track so far to overcome those risks.
Can anybody else add to that marketing pitch?