Tell me if this is just saying the same thing, but the FAQ says:
How many mastercoins exist? The total number has been calculated to be 619478.59338440 MSC. The calculation is based on purchases during the month of August 2013. There will never be more MasterCoins created.
So all the MSC that will ever exist have already been created, although as far as I can tell the only guarantee of that is that the foundation that is running mastercoin says so. The initial investors (who bought MSC with BTC during August 2013) own 90%, and 10% are owned by the Mastercoin Foundation, a nonprofit organization. That 10% will be used to fund development.
It's definitely different, and fascinating.
Here's a scathing article from a mastercoin skeptic:
But the mastercoin inventor responds in the comments, so it's a quicker way to get up to speed on the controversy than wading into the bitcointalk and reddit threads, which is what I spent several hours last night doing. Whatever happens with this one, I'm glad to see alt coins popping up that aren't just bitcoin/litecoin clones.
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