How does one send and receive Mastercoins?

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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?

user9201

Posted 2013-11-23T11:58:57.150

Reputation: 41

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 – 2013-12-01T08:21:39.097

Answers

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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

Colbert Lau

Posted 2013-11-23T11:58:57.150

Reputation: 11

1How so? In many web wallets you do have access to private keys. – Maciej Mączko – 2013-12-01T19:34:17.223

Asked: 2013-11-23T11:58:57.150

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Active: 2013-12-31T16:45:58.150