Is Whitepaper just Buzz Word in Alt and Meme coins?

TheUltraElite

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Quote from: Johnyz on August 17, 2023, 10:53:51 PM

As long as there is a hype, most probably many will just ignore the whitepaper and even the roadmap.
This is why many are falling into fake projects because they are not doing any due diligence when it comes to participation. Though those projects are not ruining the purpose of Whitepaper since its for the real investors and you can easily spot a legit one compare to tampered Whitepaper.

Ignoring them is common but also keep in mind that the major papers prepared these days have been plagiarised and often just shitpapers at the most. Most roadmaps are never followed and are only there to propagate the initial hype on the market. The major number of investors come from word of mouth and hence we will rarely see researched investors coming in the market because they keep the portfolio limited to bitcoin.

In either case I feel the whitepaper is an important part and following that is necessary but a copied paper or one that is just made to launch the project without any backing needs to be identified and shunned.

Johnyz

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Quote from: JunkieMiner on August 16, 2023, 02:12:43 PM

People mostly watch and see the hype of the meme coins, after that they buy or invest in some meme coins, the reading of whitepaper if not often done by majority, as in a sense I'm sure that meme coins are often not that much used as compare to other altcoins.

As long as there is a hype, most probably many will just ignore the whitepaper and even the roadmap.
This is why many are falling into fake projects because they are not doing any due diligence when it comes to participation. Though those projects are not ruining the purpose of Whitepaper since its for the real investors and you can easily spot a legit one compare to tampered Whitepaper.

el kaka22

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It is not really a buzzword at all. You should read them all, and see if they are any good. There are so many of them who just steal their own whitepaper from other projects and end up writing total copy of it by just changing names in there. That's the worst type of alts and memes out there, they do not even write their own whitepaper and how it was made and why it was made as well.

If you are careful about it then you are going to end up with a better version of it and you are going to see an originally created one and you could make a profit that way. Of course it is not going to be simple but if you are careful then it should be possible to find some. This is why it is not a buzzword, you should read whitepaper of anything you invest into.

shinratensei_

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nowadays it is indeed just gimmick unlike back in the days, though it might only be gimmick when it comes to shitcoins and meme coins in general.
after all so many people that like to invests in these category of altcoins just don't really care about the whitepaper, what they care is the coin itself having massive fame, increase in value and then finally they
can make some profit off selling their early bagging of the coin itself, even if the whitepaper is left out, they wouldn't even care.
its different if the altcoin itself is fundamentally good though, many that invests will always see the technicality aspects of the project but majority are still don't care.

Webetcoins

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Everyone knows that meme coins don't have any utility and they are basically based on just a meme that got famous at some point in the past and someone thought of creating a coin on it, so when a meme coin offers a whitepaper to its investors, I wonder what one would expect to read inside it, and it would most probably just contain memes since there is nothing for them to write in it, they don't even have proper tokenomics because nothing is planned.

If we talk about altcoins, the projects that are scams and are not authentic and don't actually have anything themselves to offer will most probably steal the data from another project's whitepaper and include them in theirs and they will also copy the content of their website and base theirs on that.

JunkieMiner

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People mostly watch and see the hype of the meme coins, after that they buy or invest in some meme coins, the reading of whitepaper if not often done by majority, as in a sense I'm sure that meme coins are often not that much used as compare to other altcoins.

avikz

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Quote from: KiranKBS on August 14, 2023, 10:34:46 AM

Hi Friends,

I often come across Alt Coins and even meme coins showing white paper. IMO, they are absolutely ruining the meaning of Whitepaper, aren't they?

Some of them use it for showing Toeknomics, some of them show their Utilities & Use cases, some show Roadmap and Planning, and some show just Memes in the paper.

There are many Crypot New Enthusiasts who just jump into the Project as and when they see Website and Whitepaper link. Hardly check what is even inside!

Just wondering what is your take on it!

Whitepaper has become a fashion in crypto market. But 99% of them do not add any real value. Now in the era of AI, it has become even more easier to write a whitepaper. Just ask chatgpt or Bard AI and they will get it done for you. You just have to manually review and make changes accordingly. The effort has come down to almost zero. So whitepaper is not something which you should consider before making an investment decision. Majority of them are fake and copied from others or written by AI.

I personally do not think whitepaper adds any value to the project, especially memecoins. These memecoins are short lived and add nothing to the ecosystem.

eaLiTy

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Quote from: KiranKBS on August 14, 2023, 10:34:46 AM

~
There are many Crypot New Enthusiasts who just jump into the Project as and when they see Website and Whitepaper link. Hardly check what is even inside!

Just wondering what is your take on it!

Majority might not check the specifics and there are plenty of projects that have shitty whitepaper that does not make any sense and there was a time when all the stupid dumb projects were able to raise huge amount and hopefully that trend is going down. There are shitty projects with big backings that are doing good in the short time, so there are users that are willing to take risk and try out considering the huge profit they will be able to earn in the short period.

o48o

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Quote from: TravelMug on August 16, 2023, 07:01:24 AM

Whitepaper used to be the selling point of altcoins in my opinion. If it is laid down nicely, although it's technical, investors are going to scrutinized it so see how good the project is. But when the emergence of thousands of altcoin and shitcoins and memecoins, writing Whitepaper is no longer what it used to be as everyone is just copying each other.

It used to be a science because developer take time and pride in writing it. But now, it's very different, these alt and meme coins just hire someone to write for them for a cheap price.

I don't know which era is this is what you are referring to, as there are ton of copies of whitepapers even during ico era. Most of them jut didn't catch on as they got caught and red trusted in bitcointalk for plagiarizing whitepapers, so people wouldn't buy them.

These days scammers with half a brain are using AI to forge all sorts of nonsense that sounds like a generic whitepaper with buzzwords. And since they don't need writers from fiverr to do that, they are using people from fiverr to organize crowded social media channels with fake followers.

TravelMug

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Quote from: TheUltraElite on August 16, 2023, 01:53:45 AM

Whitepaper's concept has definitely been ruined by shitcoins and their preptuators. The major coins that have successfully completed their whitepapers is bitcoin and that is the only paper one should follow. All others are only copy cats and fakes. Today you have to cross check every whitepaper document for copy pasting because of plagiarism cases which became very common a few years back and I am sure they are still persisting.

Whitepaper used to be the selling point of altcoins in my opinion. If it is laid down nicely, although it's technical, investors are going to scrutinized it so see how good the project is. But when the emergence of thousands of altcoin and shitcoins and memecoins, writing Whitepaper is no longer what it used to be as everyone is just copying each other.

It used to be a science because developer take time and pride in writing it. But now, it's very different, these alt and meme coins just hire someone to write for them for a cheap price.

Apocollapse

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What you refer about check the inside? you can't just mention whitepaper is pointless and you didn't explain what should people looking when they want to invest in a new project.

From my perspective, there's nothing can be checked. Most of the project is centralized and not all project show their source code, it's mean they can easily manipulate the source code and exit scam when they've make a lot money.

AliDeep

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Quote from: TheUltraElite on August 16, 2023, 01:53:45 AM

Whitepaper's concept has definitely been ruined by shitcoins and their preptuators. The major coins that have successfully completed their whitepapers is bitcoin and that is the only paper one should follow. All others are only copy cats and fakes. Today you have to cross check every whitepaper document for copy pasting because of plagiarism cases which became very common a few years back and I am sure they are still persisting.

As per investor safety is concerned, we should check these documents on our own and make sure to spend some years observing projects before investing.

The problem is that many projects does not follow the information that is written in whitepaper and its roadmap. White paper just becomes only world.

TheUltraElite

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So anyway, I applied as a merit source :)

Whitepaper's concept has definitely been ruined by shitcoins and their preptuators. The major coins that have successfully completed their whitepapers is bitcoin and that is the only paper one should follow. All others are only copy cats and fakes. Today you have to cross check every whitepaper document for copy pasting because of plagiarism cases which became very common a few years back and I am sure they are still persisting.

As per investor safety is concerned, we should check these documents on our own and make sure to spend some years observing projects before investing.

vv181

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Quote from: KiranKBS on August 14, 2023, 10:34:46 AM

There are many Crypot New Enthusiasts who just jump into the Project as and when they see Website and Whitepaper link. Hardly check what is even inside!

Just wondering what is your take on it!

It never was a good indication of something. A whitepaper is good to formalize an idea, but without much work put into that, it is meaningless. It is even hard to rationalize the value and potential of the project merely by a website and whitepaper. That makes the problem should not have relied on the whitepaper alone, but instead, the assumption that both of these two are good enough characteristics of a good project. It is ridiculous and does not even make sense.

abel1337

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I still read whitepapers but yeah it becoming less effective now as it can be plagiarize and most of them especially sh*tcoins, doesn't really be followed. For the meme coins who have their whitepapers, I don't expect it be followed as majority of them don't survive and follow their roadmap. To be honest, it's useless for memecoins to have a whitepaper.

Yogee

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It used to be highly respected but it has unfortunately turned out to be useless for majority of the altcoins nowadays. I personally don't rely on that or consider it as a major metric anymore since I understand that there's a high chance projects will be short lived. They can lay out their WP and roadmaps well but developers always have the last say if they will follow it or not. Most of them don't deliver.

passwordnow

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Quote from: KiranKBS on August 14, 2023, 10:34:46 AM

Hi Friends,

I often come across Alt Coins and even meme coins showing white paper. IMO, they are absolutely ruining the meaning of Whitepaper, aren't they?

Some of them use it for showing Toeknomics, some of them show their Utilities & Use cases, some show Roadmap and Planning, and some show just Memes in the paper.

There are many Crypot New Enthusiasts who just jump into the Project as and when they see Website and Whitepaper link. Hardly check what is even inside!

Just wondering what is your take on it!

It truly because a show for most of those projects that are showing road maps, white papers, partnerships and anything that will entice the investors. That's why do not be surprised when there have been a lot of impressions regards to the white paper but eventually, you'll find it out that it's just been copied from another project. These days, it's not just enough to look at those things but also on the developers for you to know if they're credible or not or don't any background to be checked.

LogitechMouse

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Quote from: KiranKBS on August 14, 2023, 10:34:46 AM

~
Just wondering what is your take on it!

Whitepapers nowadays are just kind of useless already if you are a type of an investor who wants to invest in new projects.

I still remember back in 2017-2018 where investors like me uses Whitepaper as a factor whether we want to invest into a new project or not. Scammers took opportunity to it, copy and pasted some of the whitepapers, made some revisions, and put it into their own project until it came to a point where even though you've read a whitepaper that's very good, there's a chance that they will scam you, and I've seen this many times back when ICO's are very popular.

Right now in 2023, whitepapers are just a bunch of papers, or a bunch of text that is for me useless. I don't know what are the basis of these investors in which new projects should they invest since I'm more focused on established coins only. Maybe there are some investors who still reads the whitepaper of a particular project, and decide base on it, but if you're a bit conservative when it comes to investing like me, I'd rather lessen my stress, and just invest on established coins. Cheesy

bussybuddy

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In the cryptocurrency market, there are many people who often rely on recommendations from trusted sources or hype instead of reading and researching the details of each project on their own.

However, reading the white paper and understanding the token is really important to ensure you are investing in a project with real potential and value. While it can take time and effort, it can help you make smarter investment decisions and avoid unnecessary risk.

Whether self-study or relying on other sources of information, having in-depth knowledge of the projects and understanding the key aspects is the key to achieving success in cryptocurrency investing.

ultrloa

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Quote from: KiranKBS on August 14, 2023, 10:34:46 AM

Hi Friends,

I often come across Alt Coins and even meme coins showing white paper. IMO, they are absolutely ruining the meaning of Whitepaper, aren't they?

Some of them use it for showing Toeknomics, some of them show their Utilities & Use cases, some show Roadmap and Planning, and some show just Memes in the paper.

There are many Crypot New Enthusiasts who just jump into the Project as and when they see Website and Whitepaper link. Hardly check what is even inside!

Just wondering what is your take on it!

Before we can use those whitepaper to know that a project is good, but for now even if they right cool plans and good roadmap still some of the project launch became scam so much better ignore the whitepaper and just see how big their community. Also make sure that you are prepare on anything will happen and now when to exit the project because majority end up scam and for sure you don't like to be part of it.

Topic: Is Whitepaper just Buzz Word in Alt and Meme coins? (Read 175 times)