Topic: How will you advice a newbie about this in 2024? (Read 371 times)

Sorry to ask what do you mean by investing your precious money. Is there any money that is not precious. The reason most people don't invest in Bitcoin is not because they don't believe it will do better but because Bitcoin is mostly a long term investment so most people don't have that patient they just want to get rich overnight that is why they are always a victim of shitcoin and alt cause they believe this coin can make them rich overnight and off course it can but not all the time and sometimes before you get that particular one that will make one rich overnight one has already waste his/her money on fake projects. Life is a gradual process, if you rush things you will definitely miss it.

Day by day people are more and more inclined towards cryptocurrencies.  Investing their precious money here.  You must know well to invest your precious money.  Because scammers are constantly trying to mislead newbies.    Groups with bad intentions will take money from the inexperienced during bear markets.  They will not be found when the bull market arrives.  If you want to invest your precious money then do it in Bitcoin.    Do more research before investing in shitcoins or altcoins.

You're right investing your money in a project that copied white paper is very risky, because most of those project happens to be scam, though there are some project that do copied white paper of other projects but yet there are still legit. but i will never recommend anyone to invest in a project that copy white paper of other projects because such project can be very risky. Of course you wouldn't care how big the project is, mostly when Money is involved, however we just need to be careful with those project.

Everyone in the crypto space has the mindset of getting rich, not just the newbies. What I know the newbies are always doing is looking for quick ways to make money in the crypto space, which is very wrong, most of them do end up being scammed. If you are just joining crypto, I will only encourage you to invest in bitcoin, but I will never force you. After telling you the necessary things that you should know, it’s left for you to follow what I say or not.

If I can see a project with copied white paper, then it’s a total red flag for me. What do you have to offer when you can’t just take your time to write your white paper yourself? I can never invest my money in any project that copies a white paper, I don’t care if the project is big  or not.

Unfortunately not all newbies have access for all information they need especially if this is their first investment since for sure they will be convince by some people they trust that's why there are people got victimized on any schemes used by scammers.

We all know that if they could just do a research first they can avoid it but their knowledge is so fresh regarding on this and they don't have proper assessment on everything they do since they have limited knowledge about this things. But for sure after the first scam happened they learned a valuable lesson and this is important thing they need to consider. For sure this people will now do their research especially if they read a lot of unfortunate stories on each experiences happened by their fellow investors.

But we can't really deny that its important to research first but unfortunately not every know where to start since they have almost zero knowledge when they are starting up.

For us to lead this Opinion and to get a nod from them is certainly not an easy thing, where my assumption is that they will still do their own research by buying cheap coins on the market, regardless of memes or not.

But, over time they will finally find the awareness to buy what has been proven to perform well and dominate the market performance and even come to the conclusion that BTC is the real answer to investing in the crypto world and what they are looking for, they will realize how the price changes with quickly and speculated by the big players in the market when it is not what they hold best.

Newbies were scammed because they don't look for anything more than opportunities to be rich quickly.

Because their main concern is get rich quickly, they are more vulnerable to scammers. Lazy and greed, put newbies more closely to scam projects but they don't realize this risk before they were scammed. It's too late after money stolen, scammed but it's their full responsibility by ignoring many warnings about scam.

The Cryptocurrency Scam Book.

In real life, we don't patronize plagiarized documents and the governments rule is even giving a sanction and punishment to those that will be caught doing it. That's why I am saying that if they are for the new products, they need to put at least a couple of their minutes in reading it and trying to figure out if they've read the same thing somewhere else. Because even if you go to the Services section, you'd see people offering making a project's whitepaper. You'll never know if that's a copied and modified one from the past projects that they've worked or they even copied that as well as they purchase it if ever they've worked for a project in the past.

Newbies are open to risks because they have few or zero idea about the projects in the market, unable to differentiate between a solid projects and scamming ones. Knowledge is power and gaining possession will definitely boosts one to become formidable and promising for crypto projects. Advise a newbie in the present day of trading and investing? I think everyone is man enough and they know exactly the scenario of the market. It's filled with volatility and probably out of line.

If their motivation for coming into the crypto space is to join a project to make money, I think they will do anything even if it means wasting their time.
For example those who promote bounty projects on social media campaigns with no limit on how much one user is allowed.
But if they are willing to do their own research after reading our posts that we do continuously every day, I think it can help them to do what they are supposed to do.

In the past, when the popularity of ICO projects increased greatly, those who would put their money into a new project would check the white paper seriously. the existence of white paper plagiarism indicates that there is an element where the project will deceive investors. and it should be strictly avoided.

new people in the industry are thinking more about making money from crypto. anything that increases in popularity in the market will get the attention it deserves. Now everyone must better understand the risks and intentions of the project.

If a white paper to a project is copied/plagiarised, I see it as a big red flag to that project. It is okay to see projects having the same end goals to their project, but the pattern or the process of getting it done always differs. Even when three projects have the same goal, I still think they can always have different white paper. The way I will put my approach down will be different from the way the second person will put is approach down even if we are for the same end project goals to be met. It’s just a big red flag to me and will always be for projects to have the same white paper for their projects.

Personally I'm not really interested in this new projects, after knowing that most are just a pump and dump project that rocks the bull season, i have reduced the rate at which I give attention to them.

Copied, white papers should even make someone leave this new projects generally after encountering more than one same copied white paper, even the big projects as you said earlier are no longer big projects in my eyes because they all follow the same ways.

Are team members really a good differences? I don't think so because what will be will be, no matter what team handles the project it will still end up being a scam. one thing is certain most altcoins or new projects are scams, shitcoins they don't really have any good use because almost all the utilities they might want to offer has been offered by already existing projects.

The success of Bitcoin has led to so many other altcoins rising up and even though they try to copy the white paper of many of the successful coins that are still of value today besides Bitcoin, it a sure thing that cryptocurrency is here to stay and a future currency of value that even with a HODLing investment or spot ETF investment in any rising cryptocurrency, one is sure to get a very reasonable return after a while, but for most, the long term holders actually benefit more that short term holders.

In 2024, it is okay to diversify ones portfolio for trading and making of quick profit, but for long term holdings and investment, it is still advisable to stick to Bitcoin investment and presumably the others which rank 2nd and third on the list of the most successful crypto currencies because incase of government acceptance and rejection, one isn't left stranded even with the current cases of inflation as recorded in many countries.

Of course Investment in altcoins and shitcoins isn't that bad but making the right selection is where the problem is, because in the process of looking for the right one that can give them their desired profit, probably most of them always end up choosing the wrong one. that can not give any profit, this is why is very good to understand how crypto investment works before looking out to invest. However as a newbie I will advice you just stick to bitcoin investment because the risk in bitcoin investment is very low compared to the risk in altcoin and as well shitcoins

While it has always been said they beginners should always be endivoired to make their research as they contemplates on what coin to invest on, basically it's still of the one goal of all investors that they're chasing which is having their funds invested not just on the projects that'd offer them profits but also as projects that stands to be reputable as they background of the project maybe stated.
So while it's being difficult for newbies to swing along the trial in allocation other viable projects plagiarizing the whitepaper, it's better advisable for the newbies to kickstart with bitcoin as the reputable first class crypto currency while they grows ahead in time to figure other alternative trusted projects.

The cryptocurrency market is increasing daily and people are now seeing need to put their money into cryptocurrency.
I think with time people would see good reason why they ended to put their into cryptocurrency when they might been seeing lots of reviews about the market. The world is changing and we keep seeing newbies joining the cryptocurrency space which is a good new buy they would have to be careful about their portfolio and what they are buying with the plan to hold for months.

Copying other project's whitepapers surely is unethical, but is it still a thing in 2024?
I mean, I don't know because it's been a long time since I read a whitepaper, and I'm not investing in new projects anymore that's why I have no reason to spend minutes just to read a whitepaper that might end up as a scam anyway.

Copying other project's whitepaper surely is unethical, but that doesn't change the fact that even those projects who aren't copying other whitepapers will end up as a success. TBH, I don't know what I will say to a newbie when it comes to whitepapers because like I said, I'm not reading it anymore. I guess I'll just say "Whitepapers aren't the only one that you can use to determine whether a project is a success or not. Research furthermore." I guess that's a good advice already, right?

...Or maybe until y'all become a victim of another crypto rugpull ? Idgaf though, but whatever happens, bear the consequences without remorse. This reminds me of several unnecessary screenshots and POP sent and downloaded via my business WhatsApp about several memecoins, telegram perform-task-to-earn games that awaits being enlisted alongside the DEX - Are y'all serious?

every project has a different purpose, interest, coin and concentration thus , the white papers can't be plagiarized. No investor in their right senses would dish funds into a projects that have limited information on their TOS.
Edit:It's left for you to check out and follow their prerequisites lest you fall for a scammer that's just tryna play to earn

The advice I'll give to beginners that are new to bitcoin is that they shouldn't rush to invest in crypto just to make money because most beginners just feel all cryptocurrencies are the same and they can just pick anyone to invest. Most of the project that we having these days are scam projects just disguising to be one of the good project. For beginners to understand what cryptocurrencies is all about and to know which investment will be better to go into.

Beginners have always been a victim of investing of investing in these scan projects because most of them have no idea of what they are into, taking time to make good research will real help to understand that bitcoin is what should be considered as a good choice of investment in cryptocurrency than going for altcoins end up scamming investors.

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.

Yes, a very big red flag. I believe a new project coming into the space with a lot of potentials would already understand the basics, what is wrong and what seems right that will encourage investors to participate in them. They should also have known that most advanced and whale investors would not agree to invest in their project as it is a replica of another project and no amount of hype will convince them. White paper emphasis on attributes of the project that should warrant an investor to invest and if it is being found plagiarized then meaning the project lacks authenticity, no potential to give ROI, lack trust and likely a scam.

This time around, both the new and old investors are looking for potential coins that will give them profits, not a project whitepaper that doesn't define how successful a project can be if it lacks investors or exposure to the cryptosphere.

I think, nowadays, investors(new and old) are not more interested in going through a project whitepaper and what it has to offer. What investors care to see is how much has been raised for the project's success, the people behind it, what's the max price, and what they stand to gain if they should invest within a short period since altcoin is good for a short term plan, not long term

DEFINITELY a yes.  By copying the White Paper and only 'fine tuning' it, it shows they have zero interest in the actual Project and are focusing solely on creating a Coin for financial gains.

A serious team that truly wants to create something new and innovative will spend their time not to fine tune the work of some body, but to build their own thing using their own words and effort.  If you do not even spend time writing a White Paper, how are you supposed to work on making your product shine?

The thing about investing in other coins is nobody is actually stopping anyone from investing in Altcoins, but the fact that you need to actually do more research about many things to understand the potential of the coin is really something that a newbie cannot understand. That’s why the advice is always simply telling the newbies to stick to bitcoin alone, because it is the on coin which nearly everyone agrees with its potential.


First thing is, even a unique white paper doesn’t guarantees the project is going to be a good one, the only difference with a plagiarized one is the fact that at the starting stage one is putting up the work while the latter is scammers move, any plagiarized white paper shows that the team is definitely not serious about that project.

Yes white papers this days are similar because most of the coins or project this days just have similar utility with little changes only. You see gaming, AI or RWA project having similar utilities but only the blockchain to lunch it differs



Yes a team for a project should definitely be a great concern. You cannot go and be investing in a project which the team handling it have been called for past scam projects multiple times. Also this doesn’t mean you should just trust projects too that list developers that have good record in the past because they could still be used as bait, most of which some do not even know of the project.

All in all be wary of any crypto projects that Is not bitcoin, any money invested in them is pure gambling. Invest what you can afford to lose

Every new altcoins are good altcoins in the first year of launch, if they haven't seen any new bull market its better, because after a bull market there is 90% chance that they will die or get abandoned, that's why it is good to go after projects that raised good amount of money in a bear market before a bull market.

If I have the privilege to advice any newbies, I will tell them to give less attention to white paper, they are available to know more about the project and other future plans, but they must not let the white paper be the reason that they invest in the project, I think OP is right that team past experinece is a big plus, they will handle the present project even better.

Mind you, all these is about making money from the project when a bull market comes, newbies must not marry their bags because altcoins always dissapoint after a bull market, have it in mind that you invest only to dump after the altcoins make a new highs, secure your profits and think more about buying more Bitcoin.

Me as a bitcoin lover and who has been in space for years now won't advise a newbie to go into investment on a newly birth coin, why because they may not know much about that project and could got scammed at the end. The best thing to do is when investing in newly birth coin only invest the amount that wouldn't affect them even though they turns out to be scam, and also whitepapers nowadays has been so common to plagiarised since most project looks alike and we can't just do anything to them because every projects has their mission even though the whitepaper seems to be copied is then left in your hands to know if you would invest or not. As for me when I found out a project is being plagiarized or whatever then I won't moved to have my money sink into that projects because likely folding is inevitable and newbie should focused investing into bitcoin or some established altcoin.

Lessons and advises are the same because scammers do the same year by year, in previous bull markets, this bull market and future ones.

Advises for newbies are available on the Internet, and if they are careful, they can find those resources and read them. If they are careless, they will not search and even ignore your advises too.

Scammers are pretty stupid and people who are victims of scammers are pretty stupid and lazy.

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The whitepaper may look the same like if a coins is a gaming coin, but if you compare it other ones, you will still noticed that the whitepapers are not plagiarized because if a white paper is 70% or more plagiarized, know that it belongs to scammer somewhere who is looking for ways to scam. Whitepaper is still important in a project success.

The year is 2024 and we still have many newbies flooding into crypto space as we speak, they have one goal in mind, to make money from crypto projects, we all can't change their minds to go for Bitcoin only, at least until they get better with doing their own research.

Coming from someone who is also into other projects different from Bitcoin, I have seen a lot of things unfold in this space.

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For example, copied white paper is no longer a big red flag like before, I said this because even big projects do this today, and change some things in a whitepaper or let me use the word "finetune" to their own tastes.

I am willing to ask the audience though, so here it is,  is a copied white paper still a red flag for projects? If a newbie ask you this question what will be your answer to them?

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Because this days, roughly all projects have same utilities, and also white papers, the only real difference I can see is the team members, and the money they are able to raise, is it a good advice to tell a newbie to count more on the team past experinece? Because saying this means that the team will atleast know how to do marketing and pump their token on their first bull market experience.

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