Why Always Trust Project Whitepaper?

Casey7

member

Activity: 266

Merit: 10

Quote from: pozmu on August 11, 2018, 05:41:09 PM

Whitepapers are to lure investors. Don't get me wrong, but many whitepapers are just full of bullshit and have very little value/ juice = technical descriptions, detailed info on devs plans.
This trend started few years ago, when people started saying that no whitepaper = scam.
Today I would say it may be exactly opposite.
Recently I was looking on Steem (Steemit.com) history and they started with no wallpaper of all, hell, they haven't even post description of their project.

That is the problem mate. Whitepaper is important but how if the whitepaper was made with no good value? Its useless.
So after this, whitepaper is not so important anymore but working product and good team is the most important one so always check those thing.

Cyptobonds1

jr. member

Activity: 262

Merit: 2

I think it because it brings more light to what the project is all about and what they have for the community

miramax-10

sr. member

Activity: 462

Merit: 250

Because it outlines all the information on the project. With a correct and thorough analysis, you can understand whether this project is promising or not.

klebsiella

full member

Activity: 392

Merit: 100

It is important to read the whitepaper because it explains what the fundraising is all about. Other purpose is to create trust and legitimacy in the minds of the people who are going to buy the tokens. But, I don't think we should always trust the whitepaper. It is possible that a scam company can hire a professional to do the whitepaper and produce an excellent proposal.

bitcoinpeople3

newbie

Activity: 93

Merit: 0

Personally, I do not always trust project whitepaper. In my few years of being on these streets, I have learnt that a good whitepaper doesn't exactly mean a project would be successful. Worse now is that many of the scam projects that we have on the streets have really convincing whitepapers. Sometimes even more convincing than the genuine ones. So I have learnt the hard way that a good whitepaper isn't a guarantee that the project will be successful.

biznes35

sr. member

Activity: 714

Merit: 253

The white paper reflects only the ideas and intentions of the project. At the stage of the ICO, the only thing that can give us an understanding of what the project is, is its white paper and road map. You can also rely on the experience of the creators of the project and their credibility and reputation, but this is not always the best indicator.

bizzargin

sr. member

Activity: 424

Merit: 250

If the idea of the project is quite feasible, then I trust. However, I always pay attention to similar products from competitors.

saint647

newbie

Activity: 31

Merit: 0

Whitepaper is one of the beat ways to learn about a project's information and their product when it will be released and many more. But investment decisions should be based on a lot of other important information gathered through research.

mrkimvanan1

jr. member

Activity: 130

Merit: 2

Quote from: adekogbe on August 11, 2018, 02:26:05 PM

It is important to know that for any project hoping to convince investors into putting their money into the project, they are going to be focused on making the project as appealing as possible which means that the project's whitepaper will surely be good so I believe you should look beyond the projects whitepaper to decide if a project is legit or not.
Always make through research of a project's team, road map and token metrics to decide which projects to invest in

whitepaper is a necessary condition of a project, from which we can know and learn the goal of the project. A good project will certainly have whiteper clear. But the whitepaper is only the necessary condition but not sufficient

lornadane

full member

Activity: 529

Merit: 101

In fact, the white paper will kill a project. Because if dev can not achieve the goals set out in the white paper, the project will be underestimated and the community will not trust that project. White paper is a double-edged sword, It can attract the community can also kill the project as I say

AbelFF

newbie

Activity: 56

Merit: 0

I think the whitepaper can be really well done and convince a lot of people of it's credibility but it still doesn't make the project legit, there is still background of the members of the project to be looked for.

BitcoinFotw

newbie

Activity: 103

Merit: 0

I don't think that whitepaper does it for me, at least not anymore. While it might be a good way to gain insight on a project and see what is about, and also help in determining whether or not it is a good project, it doesn't just feel like it for me anymore. Maybe because I have come to realize that not all convincing whitepapers eventually succeed. We see that even scam projects have better whitepapers these days. It takes more for me to trust a project than just its whitepaper.

brjameng

sr. member

Activity: 742

Merit: 250

Whitepaper is one of many way to attract investors to join/put their investment into the project.
But not all whitepaper contain trusted information, some might be true (real project) and some can be a scam (fake project).

SimpleBitMaker

newbie

Activity: 19

Merit: 0

Quote from: pozmu on August 11, 2018, 05:41:09 PM

Whitepapers are to lure investors. Don't get me wrong, but many whitepapers are just full of bullshit and have very little value/ juice = technical descriptions, detailed info on devs plans.
This trend started few years ago, when people started saying that no whitepaper = scam.
Today I would say it may be exactly opposite.
Recently I was looking on Steem (Steemit.com) history and they started with no wallpaper of all, hell, they haven't even post description of their project.

It's just another trick for a lot of these scammers. Some ICO's take them very seriously and put a lot of time and effort into them, don't get me wrong. But those that just make things up to give it a nice shiny look are usually just looking for a pump and dump, if even that much.

Anyone can draw up a nice looking forecast and roadmap using some numbers and concepts that they like. The real question is if they can abide by that schedule and follow those promises. Because in the end, a white paper is nothing more than a piece of paper, if that.

santiPOGI

full member

Activity: 1004

Merit: 111

NEVER TRUST WHITEPAPER ALONE...
make sure to read it all, not just read it by also to be sure that you need to study it.
once done make research about it! then study again.
know the people behind it. dont trust by having just that alone, make a back up information.

Destroyeroff98

full member

Activity: 574

Merit: 102

Quote from: adekogbe on August 11, 2018, 02:26:05 PM

It is important to know that for any project hoping to convince investors into putting their money into the project, they are going to be focused on making the project as appealing as possible which means that the project's whitepaper will surely be good so I believe you should look beyond the projects whitepaper to decide if a project is legit or not.
Always make through research of a project's team, road map and token metrics to decide which projects to invest in

To invest your money, you need to carefully sort out the ICO projects.

maro101

newbie

Activity: 336

Merit: 0

White paper is a basic document that allows you to understand the purpose of the project, find out how it will work. However, a good white paper does not guarantee the success of the ICO.

ivanleon

jr. member

Activity: 280

Merit: 1

But how much trouble, when doing project documentation can talk about the quality of the project. As far as it is clearly written, will the idea work, is there a working product, who are the developers and advisers

cryptomadu

jr. member

Activity: 350

Merit: 2

Even the whitepaper looks good, there are still some chances for a project to become a scam. But if a project cannot pay much attention to the whitepaper the chances to become a scam is very high.

Remix00525

newbie

Activity: 75

Merit: 0

Quote from: adekogbe on August 11, 2018, 02:26:05 PM

It is important to know that for any project hoping to convince investors into putting their money into the project, they are going to be focused on making the project as appealing as possible which means that the project's whitepaper will surely be good so I believe you should look beyond the projects whitepaper to decide if a project is legit or not.
Always make through research of a project's team, road map and token metrics to decide which projects to invest in

Well I would not say that you should trust the white paper 100% because sometimes this is the only good thing in a project but the Telegram group and other platforms is where you can spot the signs that the project is a scam.

Topic: Why Always Trust Project Whitepaper? (Read 336 times)