An intending cryptocurrency investors recently approached me for my input in an ICO he intend invest on. And one of my advised to him his to read through the whitepaper of the ICO to determined how credibly and successful the ICO will be.
He then, ask me how sure I am that a well written whitepaper will determined how credibly, trusted and successful an ICO will be.
I couldn't give a clear answer to the question, because I personal know that so many scam ICO have a good and well detail whitepaper.
What's your take on the ICO whitepaper, can the information therein be enough to determine how successful an ICO will be.
It's important to identify the legitimacy of the team behind the White Paper. I think by far the safest option is to invest in an ICO that already has a functioning product. There is far too much uncertainty with ICO's solely based on a White Paper. When investing in a product, you already have proof of it's application and the ICO will enable the already successful company to expand and you can reap the benefits!