Topic: Does Whitepaper determined credibility of an ICO - page 8. (Read 2154 times)
A lot of whitepapers often indicates that everything being stated in that document may not be true to some but is made carefully by the founders. We need to read those whitepapers because it adds up to the credibility of an ICO but it does not determine whether the ICO is legit. There are some whitepapers that are copied from other platforms but to do that, they have to at least change something in the whitepaper to make it their own. We can look for Alternate Coins with almost the same platform to determine which one is the original and which one is the copy.
Whitepapers are certainly one of the core indicators of a strong vs a weak project. If the project looks to have the majority of the technical details nailed down, a very clear interpretation of the project and realistic method to generate a ROI, then these highlight the project as a strong candidate for investment. Though the Whitepaper should be taken as part of the whole picture, including community sentiment, activity and whether or there are big names/firms backing it.
all who will be carried out a project, should have been described in the whitepaper. yeah, but I think that's just one point. the main point in the development of a project is a team that is very serious in developing its products, as well as professionalism of the team. that's what I think.
Even if it adds a little credibility to the project, I don't think it's enough to validate reliability. The team can write what they want in the whitepaper without any problem.
Moreover a large number of scam had a WP, that didn't prevent them from leaving
I prefer to look first if the project is innovative with good communication from the team and good partners, I consider the WP as secondary
Moreover a large number of scam had a WP, that didn't prevent them from leaving
I prefer to look first if the project is innovative with good communication from the team and good partners, I consider the WP as secondary
Whitepapers are certainly one of the core indicators of a strong vs a weak project. If the project looks to have the majority of the technical details nailed down, a very clear interpretation of the project and realistic method to generate a ROI, then these highlight the project as a strong candidate for investment. Though the Whitepaper should be taken as part of the whole picture, including community sentiment, activity and whether or there are big names/firms backing it.
Unless you are technically proficient and you read many other whitepapers, this won't be a reliable way for you to separate the scams from the legit projects. The main reason is they could easily plagiarize from several different other projects to create a patchwork whitepaper that reads well but is just to help sell the con.
An intending cryptocurrency investors recently approached me for my input in an ICO he intend invest on. And one of my advised to him his to read through the whitepaper of the ICO to determined how credibly and successful the ICO will be.
He then, ask me how sure I am that a well written whitepaper will determined how credibly, trusted and successful an ICO will be.
I couldn't give a clear answer to the question, because I personal know that so many scam ICO have a good and well detail whitepaper.
What's your take on the ICO whitepaper, can the information therein be enough to determine how successful an ICO will be.
He then, ask me how sure I am that a well written whitepaper will determined how credibly, trusted and successful an ICO will be.
I couldn't give a clear answer to the question, because I personal know that so many scam ICO have a good and well detail whitepaper.
What's your take on the ICO whitepaper, can the information therein be enough to determine how successful an ICO will be.
Whitepaper is just the plan of the project and it's not a guarantee that the team will follow what is written the on WP and it's too easy to fabricate a impressive white paper just to lure investors money. It's not that easy to find a good project because it will depends on the core of the team, product and the support of the community.
It is not necessary to judge the project only then, nicely written white paper. In addition, there should be many other factors by which you can determine the quality of the project.
Let's say you come to the store to buy candy - you do not take candy just because they have a beautiful package so after all. Here and here as well, study well and then bring their money back if you don't want to lose them.
Let's say you come to the store to buy candy - you do not take candy just because they have a beautiful package so after all. Here and here as well, study well and then bring their money back if you don't want to lose them.
Just like every blind man will need a man to put him to direction, even if he had failed in many times, so is whitepaper. Have said it severally that the sermon of reading whitepaper as the main criterion of legit project should have been of the past. However, we still need to look through whitepaper as the second yard stick. If we are sure the team is legit, know their track record, then can consider the project itself. Everything about a project should be explanatory in a whitepaper.
I answered this in another tread, however i hope i can be helpful here writing specifically for your doubt.
Inside a Whitepaper you can normally find a really good written tale for ICOs that are scam. It depends if they hired a good writer to take care of that while they were focused on another things. Then it's just releasing a bounty and the translators take care of the rest. So you could read one and not find anything and most of cases maybe you won't effectively find anything conclusive, since the writer is probably not aware of what they are planning to do.
A few more aspects exists you or anyone can analyze to successfully conclude depending on your perception if an ICO is an scam or not.
Those main aspects are:
You can read more about it here: https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/
Inside a Whitepaper you can normally find a really good written tale for ICOs that are scam. It depends if they hired a good writer to take care of that while they were focused on another things. Then it's just releasing a bounty and the translators take care of the rest. So you could read one and not find anything and most of cases maybe you won't effectively find anything conclusive, since the writer is probably not aware of what they are planning to do.
A few more aspects exists you or anyone can analyze to successfully conclude depending on your perception if an ICO is an scam or not.
Those main aspects are:
- The team
- Unrealistic goals
- No code repository
- Compromised Escrow
- Fake Pictures
You can read more about it here: https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/
The white paper is a very important factor, but it's not all. There are some projects that they copy the white papers of successful projects. If you don't find them, you might think they are real.In addition to the white paper, you should pay more attention to the details of a project.
Obviously NO. Whitepaper is created by the company. If they write gppd things in the paper but in reality they are scams there can be done nothing about it. Obviously you cant only rely on the whitepaper.
An intending cryptocurrency investors recently approached me for my input in an ICO he intend invest on. And one of my advised to him his to read through the whitepaper of the ICO to determined how credibly and successful the ICO will be.
He then, ask me how sure I am that a well written whitepaper will determined how credibly, trusted and successful an ICO will be.
I couldn't give a clear answer to the question, because I personal know that so many scam ICO have a good and well detail whitepaper.
What's your take on the ICO whitepaper, can the information therein be enough to determine how successful an ICO will be.
A project managers, and a real product that will be the apogee of the project. Many now throw themselves headlong into any project for profit, but as a result either do not receive anything, or sell the received tokens. He then, ask me how sure I am that a well written whitepaper will determined how credibly, trusted and successful an ICO will be.
I couldn't give a clear answer to the question, because I personal know that so many scam ICO have a good and well detail whitepaper.
What's your take on the ICO whitepaper, can the information therein be enough to determine how successful an ICO will be.
I don't think the white paper can fully determine the credibility of ico. It can only be used for reference. We also need to fully understand whether the team behind it is strong and excellent, and pay more attention to open source code.
in my opinion the whitepaper really determines the quality of the ICO, all of the company's ideas are in the whitepaper, we also have to be careful and watch out for the ICO whitepaper, sometimes the ICO only copies whitepaper data from other ICOs, so there are many other aspects that we must be reviewed.
Good day. Mostly investors look at the whitepaper of the projects but in my opinion credibility can't be proven by what's written there alone. Some ICOs have fake team members. Some would just think of a convincing plan to entice investors to invest. It's more advisable to check social media activities, telegram channels where you can talk to the team members and check the events they are involved with.
Whitepaper should not be your main basis when investing in ICO because everyone can create a meaningful WP. You should also look for the project and the team behind it and if they are really working according to their roadmap. Investing in ICO is not easy just like buying coins, you really need effort to know if that ICO is legit.
Whitepaper just gives the description of the project. It is the team that executes what is written in the whitepaper and brings the project to reality. So, the credibility should go to the team.
I don't think that whitepapers determine the credibility of an ICO. It takes more than just a whitepaper to gain the trust of an audience, most especially one that has found out they live in a scam environment, and the scam projects sometimes have even more convincing whitepapers. Whitepapers only help in giving an insight as to what the project is about and what one should expect with a project.
Whitepaper don't guarantee the success of a project. Whitepaper is to outline their vision, and mission and how they are going to accomplish it, it's now on the credibility and professionalism of the team to ensure the project comes out successful. So the is more important than the whitepaper
I prefer to search for the team behind the project to check the credibility of it, I think that if I find a good background of them I can trust them, after that I read the whitepaper to see if the project really fits what the society needs.
You see everywhere enthusiasts screaming out loud, great team!, great project!!. Little did they know they are kinda true actually. As some guy said here, the developing team, the advisors are a go-go to me. If there's a working MVP and/or is an open source code, then the whitepaper is kinda useless.
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