How will you advice a newbie about this in 2024?

[Z390]

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.
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?
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.

[_act_]

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?

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.

[OcTradism]

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

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.

Security and Privacy Encylopedia
Cryptocurrency security checklist
Crypto investment scams – how do they work?

[Adbitco]

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.

[FirmWars]

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.

[Zaguru12]

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.

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.

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?

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

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.

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

[PrivacyG]

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?

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?

[Marykeller]

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

[Obim34]

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.

[Taskford]

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.

[Baban twince]

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.

[Luzin]

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.

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

[Spaceman1000$]

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.
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?
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.

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.

[lovesmayfamilis]

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.

[Lucius]

How will you advice a newbie about this in 2024?

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.

[michellee]

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.

[Kristiyana]

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.

[sunsilk]

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?

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.

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.

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.

[AYOBA]

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.

 
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.

[Finestream]

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.

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.