Mastercoin vs Colored Coins

[jajansen]

Just bought 50MSC, but biggest question I have regarding potential success of mastercoin, is that other projects are also being worked on,
for example colored coins, which seems to put an additional layer over the bitcoin protocol, giving bitcoins itself more functionality. (user currencies, smart property, and some). Then my question, why would mastercoin succeed, if the same can be done with bitcoins in a future?

Maybe mastercoin has programmed more functionality in its roadmap, but if I understood correctly from colored coins, protocol layers can also give extra functionality to bitcoins itself, and this would be a much more efficient solution, to give the world more for less. With colored coins, suddenly all bitcoin owners would get additional functionality for their coins, where mastercoin then might reduce to an unknown not popular coin, with no additional functionality, similar as altcoins to bitcoins.

Hope to receive some comments that make me understand better the difference in concept between mastercoin and colored coins, and if, why mastercoin does something that in future cant be done with bitcoins itself.

[spartacus_]

You can compare with Namecoin Stock Control also. Has similar functionality.
https://github.com/phelixbtc/ncsc

[TraderTimm]

Disastercoin isn't even implemented yet. They're having problems with the transactions, and the limitations of stuffing everything and the kitchen sink into a small byte-space. That won't stop them though, they're convinced since they've found enough people willing to throw their money away, that they must be "right" and on the track to enriching themselves, which is what this is all about - it has nothing to to about adding features.

If it was about adding features, they'd be doing code submissions to the core bitcoin protocol, not trying to ham-handedly stuff a three-story townhouse and a swimming pool into the space of a narrow alley, by comparison. But don't worry, I'm sure their centralized escrow system will be invulnerable to any problems, in addition to their laughable "verification of order type" that they are proposing a web API for.

Oh yes, a centralized API for a supposedly decentralized 'coin'. And the laughs keep on coming.

Whatever will they think of next, I wonder?

[voldemort628]

Disastercoin isn't even implemented yet.

and disastercoin =mastercoin? ))