bitexch, I'm in agreement with you 100% on that last response. In my mind, the full time devs should focus mostly around implementation of the base libraries and services of Mastercoin (e.g. mastercoin-explorer, web wallet, masterdaemon, etc), as well as leading the charge in specing out (and working through any ambiguities of) the Mastercoin spec. This all is the part that requires that full-time level of coordination, focus and persistence, to "get right". The community needs stable and solid base tools to build on that are well-maintained. These full time devs form that "solid ground" of base tools and services that the community can build on top of. It is exactly this reason why I made such a fuss about the "mastercoind"/"masterdaemon" idea, and have spent a lot of my time to work on this. I really see it as crucial to enabling future community-driven growth.
Then, the Mastercoin foundation, beyond enabling its fulltime team of devs to persist and providing long term vision for the project as a whole, should work within the community (via bounties, etc, much like they already are) to encourage businesses and efforts to form around this base Mastercoin stack. Without that crucial community involvement (and involving and investing outsiders into Mastercoin via generous dev MSC bounties and rewards), Mastercoin will end up just being an insider pet project and sideshow. These MSC need to get out into the community and into capable and talented new hands for Mastercoin to have an impact.
This is very much akin to Facebook cementing its place in the social media industry by building a base platform with full SDK/APIs, and establishing a thriving 3rd party development ecosystem around it. That's a great model for Mastercoin in many ways, I think.
I think this perfectly explains why both full-time devs and bounties are necessary for the success of Mastercoin, and the respective role that each should play in Mastercoin's development. I also think the analogy with Facebook is apt, and is how we should be thinking.
PS: Also, thank you vokain for being so open to other views and opinions, and working with us in this way on this forum. Very much appreciated.
+1. Would love to see similar engagement from the other board members!