Many #doge holders wrote me today asking for help: they have been receiving warnings about their margin accounts being liquidated.

We must educate to avoid these tools, and warn against false friends that push newbies to add gasoline to the fire that is the crypto market.
Several of these shibes were new to crypto when they were introduced by their "buddies" to margin and futures trading. To the point that many of them think these tools are an integral part of crypto and #dogecoin.

They are NOT!

What do we say to those pushing these tools?
Experienced traders and those with vast amounts of liquidity can try their chance at gambling with this. But believe me, many are not as "experienced" as they think they are.

You are against organizations and institutional investors that have a lot more information then you do.
These tools are already dangerous in traditional markets. In the crypto market, which is vastly unregulated, the risks and unfairness are multiplied x100.

Again: it is playing Russian roulette against the guy who made the gun and knows exactly which chamber holds the bullet.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Mishaboar

Mishaboar Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @mishaboar

26 Nov
Many shibes bought 69+ #Doge today, it seems! That was the first part of the battle.

The second part is even more important, especially for the long term health of #Dogecoin. Withdraw the Doge you are holding in the exchange to your private wallet,

Not your keys, not your Doge
Of course, if fees in the exchange are unreasonably high for the amount you are holding, you might need to wait. But try complaining about it.

Exchange fees are nothing but commission fees when you see them being much higher than current recommended network fees.
With the current network fees, transferring 69 Doge could cost no more than 0.002-0.005 Doge in most cases, or 0.001 USD.

On Coinbase Pro (!), the current fee would be 1.4 Doge - much lower than most other exchanges.
Read 4 tweets
25 Nov
That chat around the turkey bores you? Today, if you are one of those dudes with a few billions of pocket money and some free time this is a mission for you.

Or better: we need a lot of shibes buying 69 Doge each.

And withdrawing their #Dogecoin to their wallets.

ಠ_ಠ
Got mine #dogecoin (sorry, had to edit out for privacy: do not want exchanges to match me to an account)
Important: if you have enough #Dogecoin in your exchange "wallet" to justify your exchange fees, if your exchange allows withdrawals, the withdrawal part is more crucial than the buying part.

Not your keys, not your $Doge.

Read 4 tweets
25 Nov
Shibes using @WazirXIndia and with an account also on @binance (fully KYCed) have an inter-wallet feature to transfer crypto between the exchanges.

Of course, Dogecoin withdrawals have been halted on @Binance for 14 days now. @dogecoin_devs are helping Binance fix their issue.
There is an alternate channel to withdraw Doge from Binance via BSC/renDoge setup by Patrick Lodder, #Dogecoin Dev. This is experimental, involves some hoops, but allows withdrawals of amounts below 1000 Doge at a time. Read the reddit thread carefully!

Another option is exchanging Doge for another crypto and withdraw that crypto from Binance.

Unfortunately this would apply selling pressure against #Doge, which could be made worse by the fact arbitrage is impossible right now on Binance.

So have patience if you can.
Read 7 tweets
25 Nov
Important! Shibes from India have been unable to withdraw #Dogecoin from the major exchanges in the country for over 5 months now.

@WazirXIndia (by Binance), @CoinSwitchKuber, and @CoinDCX have disabled Doge withdrawals and limited daily withdrawals on all cryptos.

1/n
First of all, there is no reason for exchanges to disable #Doge withdrawals, while allowing BTC, ETH, and other crypto - including shitcoins - withdrawals.

Do I need to mention that @WazirXIndia, acquired by Binance, allows SHIB withdrawals but not #Dogecoin?

2/n
Anyhow, even if users were to currently convert #Dogecoin into one of these other cryptos available for withdrawal, it would take them forever to withdraw medium sized amounts due to the new limits set for withdrawals on all cryptos.

Liquidity is locked in.

3/n
Read 8 tweets
23 Nov
Shibes, you are not powerless. You can gain more control over #Dogecoin:

- Do not put your crypto into lending programs like Gemini Earn/FTX Earn/Voyager
- Do not use exchanges as wallets
- Hold your crypto in your own private wallets

Take that liquidity off the table. Really.
More information on lending programs, aka every program promising APY for "staking" (it's actually lending to speculators and liquidity providers, not staking) - your $Doge:

More information on wallets for your #dogecoin and crypto:

Read 4 tweets
22 Nov
It looks like there is some communication problem around the SoDogeTip bot on reddit. Some receive real tips and think it is a scam.

SoDogeTip bot is "the" #Dogecoin tipbot since 2017 - when it replaced a bot whose infamous dev had indeed gone rogue. 1/3

reddit.com/r/dogecoin/com…
When you receive a tip, if you have never used SoDogeTip before, you will receive a PM on reddit asking you to register. This is normal.

SoDogeTip works on chain, so you will receive your own address when you register to use its services. BUT! 2/3
Like all custodial services (the bot is maintained by (u/just-an-dev), it should NEVER be used as a wallet.

Keep a small amount on it, just enough to send tips around. With the new low fees, you can take money in and out of it at almost zero costs. 3/3
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Thank you for your support!

Follow Us on Twitter!

:(