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Jeremy Falcon wrote: For instance, I watched how my mother changed in how she treated said dude once he became wealthy.
And it doesn't need a big (a.k.a. rich) amount of money to see that.  
Jeremy Falcon wrote: I've lost 60K in crypto listening to broke arse clowns who are fake and pretended to be experts though.
Down 18k€ partially due to listen who I didn't have to. Not everything lost yet, because I didn't sell, companies still exist, but by all means a good teacher.
Jeremy Falcon wrote: Including running a meetup group about Forex while I lived in California
Forex is only playing with exchange currencies of different lands? Or does it include more? (Just curious, I know I could google but I want to hear it with you instead of a out-of-the-box tipified answer)
M.D.V. 
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
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Nelek wrote: And it doesn't need a big (a.k.a. rich) amount of money to see that.
Amen to that.
Nelek wrote: Down 18k€ partially due to listen who I didn't have to. Not everything lost yet, because I didn't sell, companies still exist, but by all means a good teacher.
Funny thing is man, crypto is following the same exact bust boom cycle the web did in the early 2000s and late 90s. It's a tech that isn't going anywhere; it does need to be priced accurately. It's the tulip craze all over again. And, the bust cycle will weed out the losers/phonies in the market. Which is a good thing because it'll never be taken seriously until the phonies are gone.
The lesson I had to learn the hard way is, the "less intelligent" the person they more sure they are of something they know little about. They can be very convincing, even if you know better. So, at least you're not alone. 
Nelek wrote: Forex is only playing with exchange currencies of different lands? Or does it include more? (Just curious, I know I could google but I want to hear it with you instead of a out-of-the-box tipified answer)
This is why I like you man, you're smart. Short answer is yes. Since the likelihood of using using a one-world currency any time soon is zilch, it's an important market for the global economy to help us price imports, exports, travel, etc. Any time you go to a currency exchange shop when visiting another country, they're tapping into the Forex market.
Of course as with any markets you also have derivatives, such as a futures market as well. But, there's a lot "less" to it than the stock market. For instance, there's no concept of options in Forex. There's interest that can be paid out, but you don't really get dividends, perks from holding stock, etc. But, it's by far the most liquid market on the planet, for reasons I can elaborate on if you really want. Slippage is not an issue in the Forex spot market. Shorting is no big deal because it's cash and easy to borrow against. Which IMO makes it great for trading. For investing, that's a different story though.
The money supply value is essentially the value of a country's economy all rolled up into one. So, kinda like the S&P in that regards but on steroids and fluctuations in it are usually less severe for the popular currencies. Personally, I love it, but it's the wild west compared to more mature market. Event though Forex has been around for a loooooong time, it wasn't opened up to retail traders until relatively recently.
I could go on...  I'm sure an options trader would talk about options all day, etc.
Jeremy Falcon
modified 8-Sep-24 16:28pm.
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Jeremy Falcon wrote: for reasons I can elaborate on if you really want
I would like to, but not now, I am going through a turbulent time in this moment and I do not want to start anything new, if I can't really focus on what I do (even less if it might imply a risk to my economy).
I already have all what I have and although it is not good to "fire and forget", it is the only thing I can do while focusing in one, two or max three things until it / they get solved.
M.D.V. 
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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That's the smart approach man. Focus on one or two things and master them. Forget the rest... master something and be better than everyone else at it. Wishing you the best of luck with it.
Jeremy Falcon
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Side note, not sure if you ever read about the Tulip market bubble in the 16th-17th century. But it's great story to read up on. This whole concept of freaking out over stupid crap thinking you'll print money has been around forever. Nothing new.
Jeremy Falcon
modified 8-Sep-24 16:31pm.
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Jeremy Falcon wrote: This whole concept of freaking out over stupid crap thinking you'll print money has been around forever. Nothing new.
No wanting to start a discussion, but I think that's specially the strategy of the US.
Here I might get in the "not informed enough topic that you complain above", though: For me, once the US got out of the "backing money / debts with gold" they got a white card / free ride on pumping the market with new printed bills, everything has been getting wild(er than usually / needed) since that.
It currently is not only a problem with the US, of course, a lot of countries do that, but if I am not wrong they were the first stone causing the lawine.
Note: I am not willing to enter in politics, it is only an additional comment about the affirmation you said.
M.D.V.
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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So, it's clear you don't take the time to read all my posts before responding. To put this bluntly David, I know exactly who you are. I'm not convinced you have the first clue who I am.
Jeremy Falcon
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Jeremy Falcon wrote: you have the first clue who I am.
From your replies, you are someone who likes looking down on other people. You have no clue how much of your stuff I've read.
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No dude, I'm just "looking down" on anyone who does nothing but lies, hates, can't understand what they're reading when they argue, and complain. And guess what... that's you bro. 
You're making the world a worse place... so congrats I guess.
Jeremy Falcon
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Oh, and since you won't be bothered to read...
1) I said millionaires. Not billionaires. I mentioned they are not the same thing. You gave 4 examples but 1,000s of every day millionaires made their own way.
2) Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it. If that's case... go do it yourself. You won't. You can't. You'll just complain. But, let me share with you a truth... it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you.
Of course, you wouldn't know this in all your jealousy.
Jeremy Falcon
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Jeremy Falcon wrote: you wouldn't know this in all your jealousy
What an 'effin troll.
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Good one dude, you soooooooooooooo got me... Good bye.
Jeremy Falcon
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Jeremy Falcon wrote: Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it
Without discrediting them, it does help if you already have a big amount backing you up. The more money you have, the more money you can make or the easier you can make it.
Of course the person has to have some sight for it, it is easy to burn wealth too (there are enough examples out there).
Jeremy Falcon wrote: it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you.
and the money to start with is not to be underestimated.
Back in college I had a couple of ideas, I even had a very basic concept / design for one of them. I failed because I didn't had the money to continue the development of a physical prototype and to pay a lawyer to file a good patent (the thing had the potential to make millions in my opinion). I tried to find someone to invest in, but I couldn't, at the end some big companies started something similar, so I gave up.
M.D.V.
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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Nelek wrote: Of course the person has to have some sight for it, it is easy to burn wealth too (there are enough examples out there).
This is what people who know little about money want you to believe. I realize this thread has turned crazy out of of control, but investors are everywhere. If your idea is good enough and you can execute it... the money will find you. You cannot be an introvert and pull it off though, you gotta get out there and talk. Anyone who says otherwise is just sitting behind a computer and never leaving their home.
Hell, I've had coworkers want to invest with me just because I was yapping about trading. Anyone saying they can't is just using excuses with zero real experience.
Nelek wrote: and the money to start with is not to be underestimated.
Again, stop listening to losers who do nothing but hate. They'll poison your mind and waste your time.
Nelek wrote: Back in college I had a couple of ideas, I even had a very basic concept / design for one of them. I failed because I didn't had the money to continue the development of a physical prototype and to pay a lawyer to file a good patent (the thing had the potential to make millions in my opinion). I tried to find someone to invest in, but I couldn't, at the end some big companies started something similar, so I gave up.
You failed because you weren't educated or driven enough. You can (and should) start any business cheaply. And I promise you that you didn't talk to or know any other entrepreneurs or investors. You can start just about any business for less than 1K, unless it's a brick and mortar store.
In your specific case, where a patent needed to be filed, you could've done supplementary business to support it. Any patent wouldn't be more than 10k-20k tops for a single patent. You could've pooled from friends and family. You could've taken on a partner since 50% of something is better than 100% of nothing. You know who I learned that from? A wealthy man in real estate who was one of my mentors - for free. Just a good guy sharing the love.
And assuming this was before 3D printing, manufacturing a product is the worst starter business to do unless you, again, know people. Which means, stop being introverted. Even if you had the prototype, you'll run into a lot more issues with the manufacturing process if you're new. Again, a supplementary business would've helped to teach you the basics of business first.
Also, from my understanding, you don't need a working prototype for the patent. You could've just gotten the patent first and then start talking to people about it to help you out.
If you don't think these guys had to be creative even with a "start" to get where they are, you're letting the haters and losers poison your mind from its raw creativity. The truth is, you just gave up. Starting a business is not for everyone and that's cool; just don't go hating on those that do (not saying you, you know who) just because they made it. Hate them for other reasons. 
Jeremy Falcon
modified 9-Sep-24 11:16am.
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Jeremy Falcon wrote: This is what people who know little about money want you to believe.
I only say: Mike Tyson.
Jeremy Falcon wrote: You failed because you weren't educated or driven enough.
And because I still was student, without income.
Jeremy Falcon wrote: You could've pooled from friends and family.
I was still living from family and didn't want to pull more
Jeremy Falcon wrote: You could've taken on a partner since 50% of something is better than 100% of nothing.
Tried to find one, didn't find anyone
Jeremy Falcon wrote: And assuming this was before 3D printing, manufacturing a product is the worst starter business to do unless you, again, know people.
Exactly, that's why I just wanted to make a design, file the patent and try to sell it to a bigger company or finish the product with them for a %.
Jeremy Falcon wrote: Even if you had the prototype, you'll run into a lot more issues with the manufacturing process if you're new. Again, a supplementary business would've helped to teach you the basics of business first.
Running a business is not really my thing, I know I am not the best option for it.
Jeremy Falcon wrote: Also, from my understanding, you don't need a working prototype for the patent. You could've just gotten the patent first and then start talking to people about it to help you out.
Yeah, but back then I didn't know it. Sadly there is not time machine (yet).
Jeremy Falcon wrote: The truth is, you just gave up.
Partially yes. I posponed things to "a better moment" I lost the train
Jeremy Falcon wrote: Starting a business is not for everyone and that's cool;
As I said above, I know it and I think I am not a good option for it. Maybe if I had no choice I would "wake up" but for now, having a good job, I do not even try.
Jeremy Falcon wrote: just don't go hating on those that do (not saying you, you know who) just because they made it. Hate them for other reasons.
I don't... at least just because they did. I do not like things from some of them, but I do not hate them.
M.D.V.
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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Well, just to keep this short and fun...  Mike Tyson doesn't know first thing about money man. He's a boxer who spent it all. A lot of celebrities are like that. Not all, but a lot. They may not be the best examples of someone who knows about money. But, I totally want to see that Jake Paul fight.
Anywho, it's perfectly ok to not be an entrepreneur. There's so many stigmas out there over everything. Like, I know for me that running a business is boring. After the novelty wore off it became so hard to do the same things over and over again. It's not who I am. I'm a creative. We need both types in the world. Without creatives we don't have new. Without those can just do, nothing gets done. So, if I go into a business again, it'll have to be with enough money to hire peeps so I don't jump off a bridge from boredom.
All this to say, the world needs all different types of people.
Oh, and I upvoted you. Because we totally disagreed and kept it friendly. Maybe we'll start a trend.
Jeremy Falcon
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Jeremy Falcon wrote: So, if I go into a business again, it'll have to be with enough money to hire peeps so I don't jump off a bridge from boredom.
Another way to say that money helps a lot when starting something (what I actually said before   )
Jeremy Falcon wrote: All this to say, the world needs all different types of people.
If we all were the same it would be boring as hell, but I sometimes think so much variety is neither the best option.
Jeremy Falcon wrote: we totally disagreed and kept it friendly.
M.D.V. 
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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Nelek wrote: Another way to say that money helps a lot when starting something (what I actually said before
We're going to have to disagree on this man. But, let me leave you with this... if you say you can or can't... you're right. IMO you need to talk to more winners rather than argue with them. Please take this in the spirit it's intended.
Nelek wrote: If we all were the same it would be boring as hell, but I sometimes think so much variety is neither the best option.
Tru dat, man.
Jeremy Falcon
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It was more to tease you than anything else.
I think this thread already had given its fruits and it is a good moment to stop it here. Let's hijack another thread, when an interesting point is made 
M.D.V.
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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I had a lot of trouble with my first car. It was cheap but that was all I could afford at that time.
Having graduated with a MS in computer science (1971), I recalled my course in digital logic system design and wondered why the mechanical distributor in the car (which distributes electrical signals to the spark plugs) couldn’t be replaced with an electronic circuit. I didn’t have the money to develop the idea or to file a patent.
Three months later, Chrysler Corporation announced the first electronic ignition system!
Observing the mechanical pumps at fueling stations where the prices were being changed daily, I wondered why the prices could not be stored in digital memory with an easy change system and the calculations made with digital circuits. Today, all pumps have that kind of systems.
The same idea applies to the fare meters in taxis. When I mentioned it to an experienced PhD electrical engineer and wondered if I could get a patent on it, he said that they would change the layout of the circuits and claim that wouldn’t infringe on my patent if I got one.
When a year later my younger brother in India wanted an idea for a senior project in electrical engineering, I told him about the electronic taxi meter and sent him a few TTL circuits made by Texas Instruments. He designed a taxi meter with those parts and he got written up in the local newspaper for his invention!
Today, a cyclocomputer (used to measure time, distance, speed, etc) on a bicycle which is essentially the same thing can be had for under $20.
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Here are six sources that study the effects of luck on success, showing that often becoming rich is a matter of being in the right place at the right time. Not everyone can 'be in the right place at the right time,' because our society is oriented around making money for the few from the many.
"The Role of Luck in Success" by Richard Wiseman: In his book The Luck Factor, Wiseman examines how luck and chance play into people’s success and happiness. He presents evidence suggesting that while some people actively create their own luck, a significant portion of success is influenced by being in the right place at the right time.
"The Matthew Effect: How Advantage Begets Advantage": Sociologist Robert K. Merton coined the term “Matthew Effect” to describe how initial advantages lead to further success. His work, including papers like “The Matthew Effect in Science,” explores how early success can accumulate and lead to greater opportunities.
"Success and Luck: Good Fortune and the Myth of Meritocracy" by Robert H. Frank: In this book, economist Robert Frank discusses how luck and timing contribute to success and challenges the idea that meritocracy alone explains wealth and success. He uses empirical evidence to argue that a significant portion of success can be attributed to factors beyond individual control.
"The Impact of Market Timing on the Success of Mutual Funds": Various studies in finance explore how market timing can impact investment returns. For example, research by Eugene Fama and Kenneth French on mutual fund performance often highlights how timing and market conditions can play crucial roles in investment success.
"Entrepreneurship and Luck: Evidence from a Field Experiment" by Erik Hurst and Matthew J. Notowidigdo: This paper investigates how luck plays a role in entrepreneurial success. The authors find that entrepreneurial success can often be significantly influenced by random factors and timing, beyond the entrepreneur’s skills and efforts.
"The Role of Timing in Business Success": Various studies on startups and business ventures show that entering the market at the right time can be a critical factor in a company’s success. For example, research published in journals like Strategic Management Journal often examines how market conditions and timing influence business outcomes.
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David I'm not sure you're able to have a rational conversation with me. I don't buy this premise, but for the sake of argument let's say it's correct (not really). The original comment was most millionaires are self made rather than have it be inherited. That has nothing to do with luck upon making said money.
Now, since you clearly just want to disagree with me, I'll simply say winners make their own luck. Losers complain. You can say there's luck in not being born in a tiny village in Africa, but if you live in the western world the knowledge is out there. Argue with that.
But I will say this, if you know zero millionaires your opinion means nothing to me.
Jeremy Falcon
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Jeremy Falcon wrote: your opinion means nothing to me.
That's quite obvious, even if I do know any millionaires. You don't want to consider anything outside of what you've already convinced yourself of.
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