Quote from: Super T on December 29, 2013, 11:23:50 PM

Quote from: FrictionlessCoin on December 29, 2013, 10:29:05 PM

Quote from: Patel on December 29, 2013, 09:16:05 PM

Quote from: FrictionlessCoin on December 29, 2013, 09:08:35 PM

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.

I dont understand, how can 1 msc also be 100msc? Wouldn't this put the exchanges and trading in jeopardy of people sending MSC that they don't really have?

Let me explain a bit here. The functionality that you get with 1 msc is the same you get with 100 msc. In short, if I had a user defined currency, I can use 1 msc to transfer any amount or I can use 100 msc to do the same.

There is no conservation of coin in the entire specification. It is messed up royally!

Dude - you need to read more about how Mastercoin works. Please stop polluting this thread.

Dude, my concerns are legitimate and unfortunately aren't addressed. I have read about how Mastercoin works, unfortunately I've come to the conclusion that it doesn't work.