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Stages of the crypto investor: 1. The scholar - “if they don’t have a white paper I am out” 2. The optimist - “No white paper but the community is strong and Alex Becker shilled it so I am in” 3. The complete degen - “wait, the ticker is dogepapa? I don’t need to do research, I know this will fly!” 4. The survivor - “I just have a gut feeling about this coin.