Wow! Thanks for your responses guys. I have been looking into a lot of alt-coins but none are really doing it for me. I had already bought some bitcoins, when they were at a near high of $982. I wish I had of waited a week though as I could have bought in the $600+ mark. I'm kind of kicking myself that I went all in on my first trade and didn't dollar cross average over a longer period of time. I have learnt a valuable lesson though, making this trade on the high side hopefully pay off, through experience in the long run. This is my first dabble at trading and as such it's all a bit of a learning curve. I will definitely being buying more BTC but will not be making the same mistake again.

Anyway, the reason that I like Mastercoin as a concept is that it is actually built as a new protocol layer on top of the already existing Bitcoin protocol, utilising the massive hashing and network power. These points alone seem to lend Mastercoin to possibly being the next big thing in the world of bitcoin, adding additional functionality whilst utilising the immense infrastructure of the blockchain and network. I have read a lot of positive things about the potential of Mastercoin. No fans here then?

I have also set my MacBook up to 'mine' Ripples through joining the 'computing for good' program by RippleLabs. Whilst not technically mining, you get given Ripple XRP for contributing computer processing power to scientific causes. I have also read some really positive stuff about Ripple, with some predictions saying that Ripple is he future of Cryptocurrency and a Fiat lending and trading and that in essence it compliments Bitcoin perfectly and would only serve to enhance and Strengthen the Bitcoin protocol and the bitcoin currency. What are your thoughts on that?

Also, is anyone here digging Protoshares/Bitshares? I think the new Coda consortium could be a really positive thing for the Bitcoin world as it effectively groups together Mastercoin, Bitshares and Coloured Coins into a self regulating consortium made up of and linked in to a lot of Bitcoin programmers, so the support is there. Also, Mastercoin has just hit Cryptocoin Market cap in 3rd position, it looks like it means business. A lot of points made and questions asked I know, thanks for any further responses and suggestions. Anything you think is particularly hot right now? I just noticed that LTC is like up 23%, nice! (If you hold some that is)