Dogecoin Developer Shares ‘Easily Forgotten’ Warning With The Crypto Community | Bitcoinist.com



Dogecoin
developer,


Mishaboar


has
issued
a
cautionary
message
to
new
investors
entering
into
the
crypto
space.
He
highlighted
the
numerous
easily
forgotten
risks
in
this
market,
urging
crypto
enthusiasts
to
stay
educated
on


investment
risks


and
emphasizing
the
importance
of
protecting
oneself
against
avoidable
losses. 

Dogecoin
Developer
Cautions
New
Investors
On
Crypto
Risks


In
an
X
(formerly
Twitter)


post


on
June
16,
Mishaboar
disclosed
the
risks
associated
with


cryptocurrency
investments
,
noting
that
these
risks
were
often
underestimated
or
easily
forgotten
by
novices
in
the
crypto
industry.
The
Dogecoin
developer
warned
that
cryptocurrencies
were
extremely
volatile
and

How To Get Free Crypto  


incredibly
risky
,
advising
investors
not
to
“gamble”
more
funds
than
they
can
afford
to
lose. 


“This
is
a
simple
message,
often
repeated,
and
like
many
simple
messages,
easily
forgotten,”
Mishaboar
stated. 


The
Dogecoin
developer
highlighted
the
psychological
impacts
of
being
overly
exposed
to
cryptocurrencies,
cautioning
that
if
investors
find
themselves
losing
sleep
over
their
crypto
investments,
it
could
signify
an
excessive
exposure
to
these
digital
assets
and
the
risks
they
entail. 


He
also
highlighted
a


post


released
by
a
crypto
community
member
which
emphasized
the
rising
influence
of
grifters,
criminals
and
peddlers
in
the
crypto
space.
This
suggests
that
the
market
is
not
only
plagued
by
volatility
and
investment
risks
but
also


scam
attacks


that
could
harm
investors
and
potentially
lead
to
financial
losses. 


Mishaboar
revealed
that
he
rarely
mentions


cryptocurrency
prices


or
utilizes
digital
assets
for
speculation
on
his
official
X
account.
However,
he
reiterated
his
intentions
to
offer
insights
into
the
crypto
market
in
the
coming
weeks,
focusing
on
the
biggest

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risks
encountered
by
newbie
investors
,
the
dangers
linked
to
leveraged
and
normal
crypto
trading
and
the
importance
of
understanding
the
market’s
risk/reward
ratio. 


The
Dogecoin
developer
also
issued
a
stark
warning
of
the


prevalence
of
fraud
and
deception


in
the
crypto
space.
Given
Dogecoin’s
significantly
large
community
of
users
and
investors,
members
of
its
community
are
often
targeted
by


malicious
crypto
scammers


who
try
to
trick
investors
into
disclosing
personal
information
that
could
lead
to
financial
losses. 


Mishaboar’s
cautionary
message
comes
at
a
time
when
the
idea
of


quick
profits
continues
to
attract
new
investors


into
the
crypto
space.
He
has
stressed
the
significance
of
understanding
the
inherent
risks
and
consequences
of
delving
into
crypto
investments
and
trades,
spreading
awareness
of
these
dilemmas
to
protect
investors
from
potential
losses. 

Mishaboar
Claims
Crypto
Investments
Are
A
Form
Of
Gambling


In
his
post,
Mishaboar
likened
cryptocurrency
trading
and
investments
to
a
slightly
more
educated
form
of


gambling
.
He
acknowledged
that
while
crypto
enthusiasts
can
gamble,
they
should
do
so
responsibly
with
a
clear


understanding
of
the
risks


and
potential
consequences
for
both
the
investor
and
their
family. 


The
Dogecoin
developer
also
emphasized
the
importance
of
prioritizing
financial
needs
over


speculative
investments
.
He
warned
against
utilizing
funds
needed
for
vital
expenses,
such
as
education
and
housing,
to
invest
in
cryptocurrencies. 

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