Issuing new coins using MASTERCOIN - Can you explain the future?

[Gilberto]

Can anyone describe how issuing new coins, using Mastercoin, will work, step by step?

Can you outline an imaginary process of how it will actually work? I mean the actual process - What would the issuer has to do to issue lets say, a gold-rate backed coin?

The Mastercoin founder had stated: "Once you own MasterCoins, you have the building blocks for creating GoldCoin, USDCoin, EuroCoin, and any other real-world asset you can imagine! These child currencies will then be “meta stable” (holding their values as long as they remain sufficiently backed by MasterCoins held in escrow). Their target values are maintained by protocol actions which control the available supply."

What is "sufficiently backed" please? How can it be verified? and what is it actually means for the regular Joe when he decide to issue the first JoeCoin?
I have few heavy investors considering their way in. I am working with the devil advocates here and need your help.

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[peer2peer360]

Is it not wise to contact those involved in the mastercoin msc project or read the white papers  J.R Willet wrote

Here is a start...

https://bitcointalk.org/index.php?topic=265488.0

http://www.mastercoin.org/

[Aajo]

> Can you explain the future?
the future is yet to be explained.

I think this is a x-post from reddit, leave it there where it belongs..
http://www.reddit.com/r/mastercoin/comments/1t3he9/can_anyone_describe_how_issuing_new_coins_using/

[LiteCoinGuy]

i guess coloured coins will be more successful.

[peer2peer360]

i guess coloured coins will be more successful.

Coloured coins may have potential but the mere fact mastercoin msc is ahead of the game....

Mastercoins has the next highest value to bitcoin & its not an altcoin and its not on any exchange yet.. Keyword is yet.

Check the price of mastercoin & this the least expensive side of the market

http://mcoin.io/#/

Wait until the D'ex is fully functional you may find mastercoin 2/3 of bitcoin price of more.

May 2014 be a prosperous year for you   

[Gilberto]

nice site showing mastercoin rates and chart > www.mastercoin.it

[prophetx]

this is basically it from a technical perspective, however the code contest for smart properties which this is a part of will occur in early 2014

http://wiki.mastercoin.org/index.php/Escrow-backed_currencies