Is Whitepaper just Buzz Word in Alt and Meme coins?

TheUltraElite

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Quote from: Johnyz on August 17, 2023, 09:53:51 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.

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Quote from: JunkieMiner on August 16, 2023, 01:12:43 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.

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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, 09:34:46 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.

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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.

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Quote from: TravelMug on August 16, 2023, 06:01:24 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.

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Quote from: TheUltraElite on August 16, 2023, 12:53:45 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, 12:53:45 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, 09:34:46 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.

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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.

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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, 09:34:46 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.

KiranKBS

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Quote from: Xal0lex on August 14, 2023, 10:52:56 AM

No one is interested in reading white papers and roadmaps.

I often start friendly conversation with Crypto Enthusiasts in a common channel and all they say is whitepaper there. Tokenomics? Renounced? Website working then yea Ape!

KiranKBS

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Quote from: Wiwo on August 14, 2023, 09:46:22 AM

Much more now that there are tons of hype development and projects that have opened up the can of worms that have defeated total the essence of whitepaper to a project and investors alike, many of the meme coins don't even have a whitepaper, what their call whitepaper is a mere statement and articles so none should take them seriously.

Be very careful before you put your money down for such projects.

exactly My thought too. Coming from an Engineering background, a white paper means describing the complex problem the current system has and the way to solve it! and here people are really bashing the meaning of it!

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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's not that they're ruining the meaning of whitepaper, it's just that the whitepaper is mostly needed for their project to even attract someone to read their use case if there actually is one. In most cases, the whitepaper they have is simply a template used by the majority, with a few keywords changed to match their project. It was a standard that was created to present the project, especially in crypto's case where most projects can be considered as investments, and a lot of people do actually check on it, a matter of understanding it is a separate thing though.

wheelz1200

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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!

Everyone started doing whitepapers because Satoshi wrote one for bitcoin. To me all the buzzwords, whitepapers, etc doesn't mean anything unless there is a real project behind it. It can write a fiction story just like anyone else can. I'd be more interested in the day to day happenings then some sales pitch paper.

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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!

No matter what project it is, its goal would always be to attract more investors into it. Having a whitepaper for a project would build a trust for the community of people interested into a particular project. However, as we all know only a small percentage of the projects managed to follow their roadmaps and overall vision of a project. This is also why most of the 'old ones' in this market aren't relying in such factor. Demand and popularity are better indicators to tell whether a project is good or not, and whether it is for long term or the other way around. Whitepapers would mean nothing if the token itself won't have a utility.There's no such thing as putting a period that memecoins are not as ideal as with bigger community - tokens.

bitbollo

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except in rare cases, the use of the whitepaper is a simple exercise to confirm and justify few "buzz" and fashionable words in this sector (AI, masternodes etc), so as to collect big investments.

Nowadays its like a standard things that a new currency needs:
do you have the road map? do you have an exchange? do you have the whitepaper? Roll Eyes

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The whitepaper reflects the developer, the projects, and the concept and goal of the project. We can define what kind of developer we are dealing with when reading the whitepaper. I think it is one of the most important parts of the project to read. Since it is there where we can find out if the project is innovative, or just a non-sense plan. Plagiarized whitepaper simply tells us that the developer is incapable and liars because if they can't do the whitepaper originally, how can they do the project they promised?

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I believe that very few investors actually read the whitepaper to me, it seems more like a formality. If you were to ask me, I would say that, otherwise, investors usually invest based on hype in the crypto market. You are correct there are many projects that have very short whitepapers, maybe just 2-3 pages, and even in those, there is more emphasis on tokenomics rather than detailed information about the project. In fact, most projects tend to replicate each other's content, and only a few are unique or genuinely reliable.

cryptoaddictchie

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Some depend on it and some arent. People usually forgot to rely on this due to hype and trends. Even without seeing ehat the details of the projects are blindly investing right away. Well not all can be deceived too by whitepaper flawless content. Sometimes they are just copying the info on other or older project and change some details and focus on the token sale and possible money related on the projects. Much better to see some actual product and working platform than just a merely paragraphs from whitepaper.

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Quote from: lovesmayfamilis on August 14, 2023, 11:33:04 AM

Quote from: Wiwo on August 14, 2023, 09:46:22 AM

Edited out

Do you remember that those years contained a limited number of fraudulent projects? Did we live in different worlds? I remember very well that only here, on the forum, every day we found dozens of scam projects and most of them were based on fake technical documents. Sites were written on the knee, heaps of shitcoins were created, and accordingly, the number of scams grew exponentially.
I cannot say that today's time has changed anything. There are only a few alternative coins that are worthy of attention, and these are, oddly enough, not new projects; everything else, sooner or later, turns into dust.

I used limited to portray a viewpoint that could consolidate the level of scams, and fake projects in the now vs then, I don't mean to take you out on context that perceives it as if there were no scams in those days.

We have tons of scam projects way back in 2017-2018 down to 2020/and up till now, but if we compared the ratio of the level and extent that scam projects that have gained popularity between now and then, it clearly shows that we are faced with more scam in the current time compared to when we don't have new hypes like meme coins, NFTs and the rest.

Although, each period comes with its own unique hype projects/developments that end up putting holes in investors' pockets thereby killing investors' appetite and trust in the general crypto ecosystem.

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Quote from: KiranKBS on August 14, 2023, 09:34:46 AM

Just wondering what is your take on it!

Esrly crypto projects use whitepaper on avery technical explanation manner which is why no one or only few interested to read it due to its complex content. Crypto projects usually main target is their investors to please with their project while most of this investors is non-technical people which doesn’t understand technical terms.

Current version of whitepaper is now simplified which even normal people can understand in summary what’s the project all about. I really like the curriculum version and projects usually have a github which is the technical details for those interested on the technical perspective of the project.

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Quote from: Wiwo on August 14, 2023, 09:46:22 AM

Even back then in 2017-2018 when the altcoin market have limited cases scams and fake projects, there were issues of whitepaper plagiarism and a host of many other cases of abuse of the content and intent of whitepaper in the first.

Much more now that there are tons of hype development and projects that have opened up the can of worms that have defeated total the essence of whitepaper to a project and investors alike, many of the meme coins don't even have a whitepaper, what their call whitepaper is a mere statement and articles so none should take them seriously.

Be very careful before you put your money down for such projects.

Do you remember that those years contained a limited number of fraudulent projects? Did we live in different worlds? I remember very well that only here, on the forum, every day we found dozens of scam projects and most of them were based on fake technical documents. Sites were written on the knee, heaps of shitcoins were created, and accordingly, the number of scams grew exponentially.
I cannot say that today's time has changed anything. There are only a few alternative coins that are worthy of attention, and these are, oddly enough, not new projects; everything else, sooner or later, turns into dust.

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Most of the times its just copy paste from some other similar tokens and means nothing. But what they change of is the token supply and distribution method and overall tokenomics. Which gives us the fundamental idea of how the tokens are issued and how they are going to get distributed. From the effort a specific project made for the whitepaper, we do have idea how serious the team is about the project. A well written and unique whitepaper is what I look for.

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Quote from: KiranKBS on August 14, 2023, 09:34:46 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!

Yes, it's often either a colorful pamflet. And before AI texts they used to be generic plagiated texts with some changed words.
They are promising roi and all that nonsense, they have moronic tokenimics with unsustainable inflationary tokenomics or burning system that doesn't make sense.
And obviously nevest gimmick. Right now it's AI, before that NFT, Farming, De-FI, Metaverse etc...
And frankly i am sometimes afraid i am getting some 0day exploits just by opening them.

And yeah, "we are going to have a credit card". How original.

Or a roadmap saying stuff like listing to famous CEX. And it's always some fake volume site where they pay with gazillion tokens for joining, or dump the tokens and do buyin with actual cryptos. Sometimes they are even overly ambitious and claim how they change health care or banking and government types forever. When actually they couldn't be adopted to work in one single ice cream kiosk.

And then there are tech papers and difficult white papers. Those i try to understand but team is either bluffing with smoke and mirrors that can be spotted by other coders, or the tech paper is so hard to comprehend that you are not sure that in what level you should even respect it.

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No one is interested in reading white papers and roadmaps. People would rather invest in altcoins because of the general hype than make a decision based on analyzing white papers and tokenomics. Most people don't even realize what to pay attention to when studying a white paper or tokenomics. It's all just a wall of letters and numbers to them. It's better to get a cue from an Influencer on Twitter than to delve into it all yourself. I notice that the crypto community doesn't care much about such things, just like they don't care much about KYC and giving their personal data for a handful of shitcoins.

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Even back then in 2017-2018 when the altcoin market have limited cases scams and fake projects, there were issues of whitepaper plagiarism and a host of many other cases of abuse of the content and intent of whitepaper in the first.

Much more now that there are tons of hype development and projects that have opened up the can of worms that have defeated total the essence of whitepaper to a project and investors alike, many of the meme coins don't even have a whitepaper, what their call whitepaper is a mere statement and articles so none should take them seriously.

Be very careful before you put your money down for such projects.

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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!

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