Topic: How will you advice a newbie about this in 2024? - page 2. (Read 376 times)

Well if the copied is somehow word for word or doesnt have effort to change some format then its bad. Its likely that they are rushing their project if thats the case. A good project giving ample time to write info or details that will caters the readers with knowledge about their project.

Some will definitely rely on other resources or first projects but its fine as long as they put references anf citation on their whitepaper about that.

Absolutely right, as a newbie is very necessary to always do some research before you thinking of investment because without you going through a dip research will lead you in to victims, that is why as a newbie it is always good to pay attention on the forum and also ask questions on anything that you are not familiar with to avoid being scam, because scammer always have this feeling that newbie are very easy for them to confused.

The value of Bitcoin has increased so many people want to join it. Only a proper research should be added here if even a little time is needed. As a new investor only I am agreeing you to not invest in any new projects. New projects seem good in all aspects but most of the time they are scams. Currently, there are groups working on new projects who are attracting new investors and extorting money from them. Just far away this time for new coin, For beginners I would suggest to go ahead with Bitcoin only and later on if needed you can slowly follow alt coins as per your decision.

The main thing these newbies put in mind is quick money and most of them are now coming through mining since the time not coin got listed.

In my place, so many people that don’t know anything about crypto and even Bitcoin are coming to the crypto space all because of Notcoin that just get listed a while; they have seen how so many people made money from the project and they are just flooding into crypto space with no knowledge, I am just scared for them because of how scammers are in telegram because most of them are coming through Telegram.


The main problem is that, even if you will keep advising the newbies to stay away from these projects due to the red flags you mentioned, they will be tempted with the hype from the community and will like to make money just as others are making money in shitcoins and new projects.

Making research can help you to get information about a particular project no doubt but at times the research does not give you the actual outcome of a project especially if it is new, it is the responsibility of a beginner to stick to an existing project IMHO that's for anyone who is willing to reduce the risk in investment otherwise I think old and new investors face the same level of risk in crypto investment but the old investors are more mature in decision making since they have witnessed a lot of profits and losses as a result of their choice of investments.

Do not forget that the experience from others also help a newbie to learn so it is not right for a beginner to do depend solely on the outcome of his or her research to make final conclusions before investment, seek the advice of other people who has been there before you, ask questions and learn form their mistakes so you will get a clearer picture of what you want to invest into but personally, am not a lover of new projects I keep trying in the second phase of every project.

Why do you copy other projects white paper? It’s a red flag for me. Why do you have to work with other project ideas? If you can’t take your time to write a white paper, then you have nothing to offer, it means you don’t even know what you are doing, all you are after is just for people to invest, and after investing, I am sure with time, they will scam investors.
 
Never invest in either a new project or a strong project that copies a white paper. Things might be going well now, but don’t be surprised that later in the future things might not really go well for the project because the team doesn’t really have anything to offer. That’s why they copied other projects white papers.

Research still cannot guarantee that you will not fall on wrong coins or won’t get scam in the process. The fact that you are here to invest, that also means that you are prone to losses and scams most especially if you invest without knowing your investment well. That’s why investment carries risks, but as long as you prefer to take calculated risk, even if you lose, the effect won’t be too much painful. Just be mindful of the kind of the investment you have, and always invest at your own risk to avoid regretting in the end.

The problem that most newbies face is that they are quick to earn money in the crypto space, and yes this is why we are here but not to start your journey with shitcoins in my opinion, it is better to start with known projects that already exist which has use case and profit potential than looking for shitcoins where most of them end up getting screwed and some would still come back here crying how they lost their money when they've failed to do the right thing, investing in altcoins or shitcoins isn't totally bad in as much as you are able to catch the right one that will give you the desired profit ,but should be when you must have gotten a good knowledge about how the crypto space works.

Yeah, many projects have been coming, and many newbies' investors are getting to it without even doing much research or asking questions about which one they will invest in because many projects look similar and even promising, so people easily put their money in them with a small conviction that they don't want to do their own research again, no matter what, which is why they mostly get scammed at the end. However, I also support a motion to not advise any newbies to which project they will invest in since I don't really focus on them since they appear to be the same thing and it is so hard to know the real one. I can only tell someone to go and do their own research, and lastly, since I cannot invest in it, I will not tell another person to do that. 


It is obviously a red flag because plagiarism is still plagiarism anywhere, and it has its own consequences that come with it. So if a project is good, it is better if they have their own white paper because copying another white paper seems like they are not real; they only come to scam. So if any newbie asks, you tell them it is a red flag, and you also know it is a red flag because you are not new in the crypto space, so I'm surprised to see this question coming from you.

Its not surprising to see almost the same whitepapers  since every project also hits the same goal, that is to achieve success and maximum returns.

However if you are a wise investor, you won’t deal with its whitepaper only because it can always be a product of plagiarism but focus on how the team’s performance to ensure success and profitability in the end. Although not all of us can predict successful projects accurately, but if we want to achieve our goals, we should be brave enough to take some risks even if it means losing in the end. Because in every loss, we learned a lesson that will help us become wiser and smarter in choosing a project the next time we invest. And as much as possible, prioritize bitcoin over other crypto coins, not a guarantee to succeed but at least you can avoid too much losses.

 
That's the main reason why some of the newbies fall victim to losing when they try to invest in some of the coins. Some people refuse to do their own research to know the actual coins that are good for them to buy, which is also a good ideal to be with those who have already invested a while to follow their decisions. Because they are the ones that know much about some coins. 
 
As a newbie, even if you do your own research and don't ask people who are experts about investing, you can never comprehend how market strategies operate well. That's why if a person does research on his own and still follows other people's decisions, what you're going to lose on your investment will be limited.

It is a red flag.

Because a serious project won't copy any other project's whitepaper. Whether it is a few of it or all of it, a copy is a copy. It's a serious offense and just think about plagiarism. There's a serious punishment about it for example here in the forum.

Well, IMHO, there should be a different approach about pumping their token. If the team is experienced and serious, they have to be grandstanding with the actual project itself that includes everything. Use case, whitepaper, tokenomics, etc.

I know that there successful projects that are not perfect but if it's with standard, you shouldn't lower yours even if a newbie is asking for it.

Actually as a newbie is very good to make research before making any investment you don't have to wait for other people to decide for you on the coin you're going to invest in because the information you get from people can be very misleading sometimes that is why is very good to conduct our own research before consulting anyone. However as a newbie you shouldn't be carried away by what people are saying about a particular coin always do your own research.

We can only advise beginners who want to enter crypto projects, namely by saying that they must do research before deciding. With so many new projects being launched, they must be careful researching and deciding. Not many projects can successfully develop their project and become large projects.

Most beginners just want to make instant profits and don't want to do research and wait for people to share a list of projects they can use as investments. It is a mistake to follow the words of others to invest in one particular project. They must be responsible for the money they want to use to invest and just following other people's words does not guarantee that they will make a profit later.

They must be aware that many new projects in crypto turn out to be scams. If they are not careful, they will become the next victim and lose their money. That is why they must do research before deciding to invest.

Every man should be asked to answer honestly whether he understands enough what he is investing in - and if the answer is negative, then he should be advised not to do it. The matter is quite simple, because in the end the decision is still up to each individual and the decision about what to do with their money.

Keep in mind that it is never wise to meddle in someone's finances, because although you may help someone with advice, it may also happen that you cause someone financial damage, and people never forget that.

With the advent of AI tools, the white paper will not contain plagiarism, but it may also contain unreliable data that is difficult for a beginner to understand. Likewise, a team that can be easily faked will not be the stronghold one can hope for. A beginner will walk through trial and error like a minefield if he trusts his money to alternative coins. This is their choice; we can only show experience and guide them on the path that leads to Bitcoin. By investing slowly but surely, beginners will retain more of their money, but those who bet on the rapid growth of alts that could disappear in a moment will learn from their experience.

Some new projects can actually be genuine, even though their whitepaper might look like an offshoot from other projects, which according to you OP, is no longer a big red flag like before. Newbies might actually find difficulties in knowing the genuiness of the project because most project at the beginning stage always struggle to find it's footing because people are skeptical to invest heavily or associated with it as they case may be, so I would rather advice newbies to critically look at the project they want to invest in and also invest a percentage they know they can afford to lose should in case the project doesn't go on as planned, because investment is risky so you need to strike a balance while on it.

I don't invest much in new projects because I'm more inclined to trade with coin tokens. But there are times when I read the Whitepaper to see how they plan to do with the coin or token. Serious projects tend to have original Whitepapers. They tend to be creative with their own writing even though they tend to be similar and have the same utility. So I'm also more convinced that the original whitepaper is more interesting even though it doesn't guarantee the project will succeed or not. But projects with plagiarized whitepapers should be avoided because whitepaper plagiarized is one of many Characteristics scam project.

CMIIW


Source: https://plasbit.com/research/how-to-spot-a-scam-crypto-project

Each blunder I make in this crypto world, I always document it and compare it with my next blunder.
No matter how amazing you are in crypto, you must commit blunders regularly as a newbie or once in a while as a pro.

The thing about pros is, when they commit blunders, they don't talk about it to avoid being mocked because these sets of people always have haters who are waiting for these blunders so they can feast on it and laugh.

Talking about this patience and impatience thing, it will be nice having some accounts nicknamed Impatient 1, Impatient 2, to 5 or 10. Do the same for Patient 1 to 5-10. And finally another set for over patient 1 to 5-10.

There may not be money to send to these accounts, but just create them. One day, money will come. One day, some of these exchanges may not know even allow new people from your country to register. They'll only allow the already verified one. Luck is when preparedness meets opportunity.

Have you ever been in a situation you've lost all your money, then the greatest crypto opportunity presents itself, but it won't last for more than 30 minutes? Or in a situation where you never took the shot even when you have because you were waiting for it to go lower? This is why you should have impatient, patient, and over patient accounts.

It's unfortunate we're from a rich nation, but the money doesn't go round, so having all these numerous accounts without money in them may seem like a waste of time.
That is capital, it's not, except you hate being prepared for success.

For lots of potential harm they could provably experience then newbie people need to consider this.

To have a critical thinking on everything especially on decision making since not everything they see online especially offer big profit is safe since most of them are scams.

There are lots of scam tokens circulating in the market that's why they need to be more cautious dealing with it and never think about holding since 99% of them will fail and scam them.

If they can't avoid investing on altcoins the they should try to trade it for short term and never goes to any hype saying that it will pump more so hold it since this is totally risky and you might lost everything you have if you believe on the hype man of those new projects.

Always read the necessary details of the project since its important for us to know their plan. If we see something generic or nonsense thing offered or they just copied it anywhere then this is really a big red flag so automatically we should avoid them.

This is few things need to consider by newbies and for sure they would learn more based on their experience got on their investment ventures.