I was wondering, would it be possible to build upon the same mechanism for BTC-MSC exchange and add support for LTC/other alt-chain exchanging? I don't use LTC or have any but I do know a decent segment would find it useful to be able to trade back and forth between alt currencies. It could be a good, quick, and easy proof-of-concept and validation for Mastercoin to be used to trade other cryptocurrencies around for each other if there was a way to parse/manipulate two blockchains at once.
Actually thinking about it, it probably would be trivial. If you can do it with BTC I don't see why LTC would be difficult but I'm not an expert.
I think once MSC to BTC is working then LTC and the other altcoins ought to be next.
LTC will have to wait until we've got LTC tokens stored in the bitcoin block chain. That will either be user-backed smart property, or escrow-backed tokens later. We can do BTC/MSC now because we are living in the BTC block chain.
i'm new to MSC, when i finished reading your spec i got one question,
why not issue MSC as smart property at the very beginning of genesis block rather than sending people MSC from your account.
with my understanding, it could be 2 steps.
1. issue smart property.
2. selling part of shares to raise money.
is it possible to create MSC as the first smart property in MSC protocol?
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