The entire mastercoin protocol is bordering on insanity.  There is no correlation as to amount of BTC sent and the MSC that is sent.  It is completely arbitrary.   In short, there is no real security that the MSC that is received is even the MSC that is available to send.

What this means is the value of 1 MSC is the same as 100 MSC or 1,000 MSC!   So you do the math?  If 1 MSC = 100 MSC = 1,000 MSC  then clearly the underlying unit is zero.