Like a lot of longs here, I've had lots of difficult days to rethink my position in MYEC. I'm looking at $300,000 in lost 'opportunity profit' by not being smart enough to sell at .08. I'm not swayed or frightened by the dips, but because of the drops, I do frequently question the future of the business plan Ed has developed.
It is a significant point that Ed has (or says he has) delivered his app, and that the delay is on the bank's side. Remember, Ed is the ACH killer, and the banks make lots of money from ACH.
I ask myself why would the banks adopt a format that could threaten their income?
The reason is irrelevancy. If the banks don't go with Check21, and the technology that delivers superior speed, security, customization, and most important of all, low cost, then they will be left to fight over the smaller and smaller piece of the pie that remains beholden to the old way of doing things.
We all know how new inventions have been adopted at an increasingly faster rate, and MYEC has low cost as it's #1 driver.
Here's an example. You need to renew your auto tag, and the form says if you use a credit card you will be charged the 2.5% fee that goes to Visa, OR, you can scan the QR code, pay with your phone and not be charged... you won't even have to send back the form because your info is already encoded in the transaction!
I'm telling you, this Simplifile PR opened my eyes to how government can make this a runaway screaming hit!
I pinch myself sometimes at my good fortune at finding this stock. It's like we own Google before the public offering!
Rant all you want. Cry the sky is falling all you want. Those people are just the shitty neighbors we have to endure until we move out of this crappy apartment and into the manse us longs deserve!
