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Cloudflare took down our website after trying to force us to pay $120000 within 24h
(robindev.substack.com)
this post was submitted on 26 May 2024
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Technology
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Yikes. That sounds bad.
Okay all my sympathy is gone. Online casinos deserve to die.
That said, my feelings towards economic vampires aside, the way the events unfolded is concerning to say the least. Cloudflare has been racking up evil-corp points quite rapidly in recent months.
If it's providing games of skill like online poker, it's actually a very intellectually stimulating game. People have made a ton of instructional videos and many books on the poker variations.
After playing poker professionally I was able to leverage the skills of bankroll management and emotional control to become successful in investing in the stock market.
I held all of my stocks through the entire pandemic to rebound from a loss over multiple years holding tech to a $600,000 profit by buying at the bottom. If I hadn't played poker I probably wouldn't be able to stomach looking at a six digit loss in 2021. I only sold my bonds which I used to buy more stocks at a cheaper price (which was the point of the bond allocation)
I used to be in credit risk for a very large stock market company.
Calling the bottom of the market is the same as betting big and getting 21 in blackjack.
Super cool when it happens, but not skill. The number of grown men I had to hear crying because they were dollar cost averaging down to the bottom until they went broke still disturbs me.
I’m happy this worked for you, but it was not skill.
You can't go broke with 1x leverage, and I bought $AMD all the way down from $100 to $70
If it went to $50 I wouldn't go broke, if it went $1 I wouldn't go broke. I just would have missed a bigger opportunity
If it goes from $100 to $1, there’s not much left to go before bankruptcy/delisting. Say hello to swaths of BBBY bag holders… oh wait, no bags left there!
It went to $2 in like 2013, close to bankruptcy. But it didn't go bankrupt, and that's all I'm betting on. My point is you don't need to care about where the bottom is as long as you're buying the dip.
Especially if you are just buying $VTI which won't go to $1 any time soon.