You should explore what a protocol like Mastercoin would mean to the market place in value if it can actually provide a trustless way of creating contracts, betting, distributed exchange, smart property signatures, etc.
I did my homework, and as far as I am concerned Mastercoin is bloating the blockchain.
with time it will implode.
I suppose it'd be a good idea to xpost this here now:
Clearing up 10 Misconceptions about the Mastercoin Protocol
For you: see #2
