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I think warning shots are a bad idea for numerous reasons. One of the main reasons in my opinion is this:

If you fire a warning shot only you know it is a warning shot. The BGs very well may think you are trying to shoot them, and their normal reaction will be to defend themselves. They won't fire a warning shot back, they will shoot at "you". A warning shot may precipitate a gun fight and the BGs get the first shot at you.