Sorry to send the market bouncing around guys! Most of you seem to get what is going on here, but for those who have any question about my commitment to the project, here is a clarification I just posted on reddit:
Edit:
I'm sorry that the post above did not adequately convey my excitement to get a chance to work on Mastercoin full-time! Ripper is completely correct in his posts below. I have taken a lot of criticisim for not diversifying in the past, and now I am finally doing so, with the added benefit of getting to work on my passion full-time.
As for the concern that people would dump coins on the market and then try to buy them back cheaply from me, I will not sell in such a situation. The price would have to stay down for a long time before I would accept it as a new market equilibrium. I'm very sensitive to the lack of volume on our exchanges, so I'm prepared to wait a long time for the right buyer(s) to come along. There will be no "dumping".
Please keep in mind that this is only a tiny fraction of the Mastercoins I have, and the ONLY reason I'm selling them is to pay pressing bills and get more time in on Mastercoin. I am so excited to be a part of this, and I MUST get more involved!
Thanks!