Dacoinmister's "The Second Bitcoin Whitepaper" is a new proposal to create another p2p network over Bitcoin (called MasterCoin
), that will fix some of Bitcoin's drawbacks.
Are there any logical inconsistencies in the paper? How about "economic falacies"? The paper talks about manipulating certain coins and shares to maintain certain properties (e.g. a minimal and maximal value of each MasterCoin). Can this be achieved?
Note that MasterCoin is not marketed as a Bitcoin alternative, but rather enhancement - if a value of MasterCoin rises, so will Bitcoin's.