Don't argue with stupid. It's one thing if they don't believe Mastercoin will work. If it doesn't work then it probably isn't going to be worth anything, but if it does work then each Mastercoin will probably go for 2-3 Bitcoins and that is just with the most basic features of a decentralized exchange and smart property. User defined currencies and the more advanced features will bring the price to 20-30 Bitcoins a piece.
But just like people couldn't understand Bitcoin they will be late to Mastercoin. Mastercoin is the first protocol which everyone who understands can see will be more important than Bitcoin if it works. The potential market cap is way bigger than Bitcoin which is why it will be worth 10-20x more.
I really don't get that line of thinking. Why would a business pay more for Mastercoin when bitcoin tokens or colored coins will do the exact same thing for almost free? Where is the demand coming from to justify the larger price? I only see a demand if Mastercoin does something colored coins can't. Bonds, stocks, assets, and other currencies can also be done with colored coins and is more egalitarian and available for everyone without having to purchase a whole other currency. I think Mastercoin is cool but I'm not following how people jump to the conclusion that it will be worth a lot.
Don't forget the personal liability issue as well. Dacoinminister is a public person, and definitely not anonymous. As he'd like to believe his protocol will live on if he gets tagged by the authorities for enabling black marketplaces, I'm afraid the outlook will be rather grim.
But it won't stop him from trying, seeing how he's invested his entire ego into the project. Shame, if it was only him I suppose he could bear the risk - but he's dragging his poor wife into it too. I wonder if she has any idea of how wrong it can go...
As they keep saying - the market will decide, but the law may just decide first.