This would be a great idea. They don't want to let go of there money though. If this want's to become extremly serious. There should not be a monopoly of who owns these coins. According to this post there kinda is.
JR owns 30% of the mastercoins. Is there really any point in voting? Seems easier just to ask JR what he wants.
Well, if you follow the link, you'll see 50.4227 % of all Mastercoins (at the time of writing of that doc) are held in 17 addresses. So yeah, there is definetily a concentration of power, so to speak.
Nevertheless this might be addressed by the way votings are done, say for example very critical things need at least 75 % agreement between all voters. I get your point and share your concern to some degree, but it would be a step in the right direction, right?
Also pointing out that you burn mastercoin when you trade a smart property for a smart property. Does that mean you constantly need mastercoin to trade anything? A distributed exchange is to me like creating a free market. With the fee you always bring it back to mastercoin. It almost hinders the person wanting to trade just that one smart property. Adding a extra step. If I misunderstood that blog post then disregard the last part of this post.
