Hi folks,
well I read about Mastercoin but there are a few things I just don't get.
Maybe we can have a compact clarifying thread
I understand the idea of timestamping information within the Bitcoin blockchain to build services like escrow and CFDs but why do we need a coin for that? From my understanding theres no need. So the second thing I dont understand is, how Mastercoin exactly comes into the game and how the value of mastercoin is derived. So you would say its suppy and demand, so here is my question 3 and 4: where do those coins come from? they are not mined are they? they are issued for every 0.01 BTC that was invested?. And (demand side) you need them to use the mastercoin features? How are the prices for the features derived? By the bytes needed (as documented in the detailed readme)?
cheers
well I read about Mastercoin but there are a few things I just don't get.
Maybe we can have a compact clarifying thread
I understand the idea of timestamping information within the Bitcoin blockchain to build services like escrow and CFDs but why do we need a coin for that? From my understanding theres no need. So the second thing I dont understand is, how Mastercoin exactly comes into the game and how the value of mastercoin is derived. So you would say its suppy and demand, so here is my question 3 and 4: where do those coins come from? they are not mined are they? they are issued for every 0.01 BTC that was invested?. And (demand side) you need them to use the mastercoin features? How are the prices for the features derived? By the bytes needed (as documented in the detailed readme)?
cheers