How does one send and receive Mastercoins?

Question

I don't really understand how the Mastercoin mechanics work, do I need a special client when operating with Mastercoins? And how should I proceed with the initial investment?

If I were to recieve MCSs would I use my BTC wallet and if so how do I know the amount of MSCs in my address?

It is a good question. The presentation, video, etc on mastercoin.org is incomprehensible. The questions here on Stackexchange consist of a bunch of trolls voting every question down. Mastercoin says it is bitcoin on steroids, but there is no documentation and no exchange. It seems rather to me like bitcoin in a wheelchair. An answer to this question by a non-troll would be welcome. — zkilnbqi, Dec 01 '13 at 08:21

score 1 · Answer 1 · edited Dec 01 '13 at 16:27

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To send or receive MSC, you only need a Bitcoin wallet when you have control over the private keys. so web wallets don't count

edited Dec 01 '13 at 16:27

cdecker

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answered Dec 01 '13 at 14:58

Colbert Lau

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How so? In many web wallets you do have access to private keys. – Maciej Mączko Dec 01 '13 at 19:34

How does one send and receive Mastercoins?

1 Answers1