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November 20, 2013, 08:43:44 AM |
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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.
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