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Stocks – Hot Stove edition

There are certain stocks from which we learn hard lessons. If you trade then you have at least one rags to riches to rags story. Or a tragic margin call that takes a winning portfolio and kicks it down an open manhole.

But as they say, time heals all wounds. And you find yourself lured back to a certain hypnotic ticker, because this time it’s different. Except it’s not. Some stocks are a hot stove. Do NOT touch them.

$FEYE and $TWTR have caused a certain havoc on the IBC community. They are a pox upon the land. I declare them persona non grata. Fuck those stocks.

Ether them like Nas did Jay Z.

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Arcade City WTF

Arcade City, the decentralized ride sharing service that will compete with Uber and run on Bitcoin, is available on the Apple App Store.

I downloaded the app and logged in. The message I got was below:

Arcadians in San Diego need a combined 1307402 karma to reach City Level 1 and unlock ridesharing functionality.

Current city Karma: 68 out of 1,307,402.

How much fucking karma do we need for you to include commas in large numbers? What I get from this message is that more people need to sign up for the service to be used in San Diego.

I give props to Arcade City for what they are attempting to do. I take props away for doing it so poorly.

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Britain to Mastercard: Bugger off

The Brits are suing Mastercard for $18 Billion citing high fees as an “invisible tax”.

The lawsuit comes after the European Union’s antitrust regulator found in 2014 Mastercard’s fees to store owners to process international payments within the EU were excessive.

Law firm Quinn Emanuel said the lawsuit was the largest damages claim in British history and would be brought under a law meaning consumers would automatically be claimants unless they opt out.

Any person living in Britain who used a credit card, cash or checks and was over 16 years old in the period covered by the lawsuit will automatically be part of the claim.

The reality is the only group that stands to make money from this lawsuit are the lawyers but it does send a message. 3% fees to process payments are ludicrous. Banks make BILLIONS processing payments yet they aren’t satisfied as they push for a cashless society.

$MA opened off 1% and has already regained most of that loss.

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Harvard professor on Curse of Cash

http://video.cnbc.com/gallery/?video=3000548776

Couple of interesting statements:

There are 4,000 $100 bills in circulation for every man, woman and child in the US. In many foreign countries up to 90% of US bills are $100 denominations.

Regarding Bitcoin he states “They allow it for now and they’ll prevent it in the future”. Other than outlawing Bitcoin, like FDR outlawed gold, that shows massive ignorance on the ability to control Bitcoin.

“We’re not even a big cash printing country compared to Japan.” Go USA!

“The government makes a fortune off printing cash.” No kidding!

This guy is an asshat of the first order.

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