Is Whitepaper just Buzz Word in Alt and Meme coins?

[KiranKBS]

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!

[1714989987]

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[1714989987]

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[1714989987]

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[1714989987]

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[Wiwo]

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.

[Xal0lex]

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.

[o48o]

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.

[Tipstar]

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.

[lovesmayfamilis]

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.

[Beparanf]

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.

[Wiwo]

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.

[cryptoaddictchie]

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.

[gurunanakji777]

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.

[serjent05]

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?

[bitbollo]

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?

[Yatsan]

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.

[wheelz1200]

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.

[Wexnident]

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.

[KiranKBS]

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!

[KiranKBS]

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!

[ultrloa]

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.

[bussybuddy]

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.

[LogitechMouse]

~
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.