Trust wallet now offers prediction market

[Dogedegen]

Why bring gambling addiction into this as if gambling itself is automatically that bad? This kind of convenience is exactly what gamblers like, and development like this will not stop just because some people may become addicted. With or without this feature, gambling addiction already exists.

At the end of the day, gambling is still a matter of personal choice, especially since we are expected to be responsible enough when we decide to gamble. If someone develops a problem, we cannot simply blame the system, the government, or the technology for everything.

People who are not prepared for what gambling is will get addicted. This kind of development only hurts people, it does not benefit them at all. You must consider that addiction is not always an extreme addiction of someone who is robbing or tricking people to gamble. The casinos of our time are very addictive, and if you give access to a person who is not prepared for this or is not strong against addiction directly from their wallet it is going to cause trouble. Even if they don't become a little bit addicted, they will lose a lot more money than they intended. Gambling stops being a personal choice when the ability to gamble is being pushed on you in every part of your life.

It is oxymoron to have a service which is supposed to protect us froms scams to advertise scammy services. Don't you think?

It is..

When comes to hardware wallets, they allow their users to interact with smart contracts, so realistically one can use them to partake in prediction markets, but that does not mean it would be good for the makers of those HW to advertise it on the dashboard of their product.

Yes that is what I agree with, this kind of advertising only hurts the consumers. Unfortunately we live in such times and even many people defend this as something good.

[Hispo]

...
Yes that is what I agree with, this kind of advertising only hurts the consumers. Unfortunately we live in such times and even many people defend this as something good.

I am a defender on the fact people can do whatever they want with their money, if they want to wast it all on prediction markets, then so be it...

But there are places and times for prediction markets to be advertised and promoted, they are not supposed to become the norm on wallets which may be used for people to save money in the long term. At least, that is the way I see it.

[Odusko]

...
Yes that is what I agree with, this kind of advertising only hurts the consumers. Unfortunately we live in such times and even many people defend this as something good.

I am a defender on the fact people can do whatever they want with their money, if they want to wast it all on prediction markets, then so be it...

But there are places and times for prediction markets to be advertised and promoted, they are not supposed to become the norm on wallets which may be used for people to save money in the long term. At least, that is the way I see it.

Promoting predictions market on crypto wallet like trust wallet is quite unethical for a financial service provider where consumers are meant to store their assets becoming a ground for temptation into gambling with that money is not good, just like Banks apps offering gambling services, no matter what is not responsible approach and a misrepresentation of what their cure service really is, but nowadays, everyone is after the revenue and no one really cares about their customers protections.

[kawetsriyanto]

Promoting predictions market on crypto wallet like trust wallet is quite unethical for a financial service provider where consumers are meant to store their assets becoming a ground for temptation into gambling with that money is not good, just like Banks apps offering gambling services, no matter what is not responsible approach and a misrepresentation of what their cure service really is, but nowadays, everyone is after the revenue and no one really cares about their customers protections.

I agree it isn't a proper way if it is intended to promote prediction market. However, it is probably quite profitable for the trust wallet owner. They should be paid by the developer of prediction market. So, they are fine to have the prediction market adds. On the other hand, I agree that this kind of add will be harmful for the customers. It is a kind of a temptation to spend assets little by little. If there will be more massive prediction market adds, the customers may be not focused on holding their assets anymore. Have you seen a complain from the customers?

[promise444c5]

Sincerely I haven't been following up with the stories and cases trust wallet have encountered but I see it as a very convenient wallet to use and charge lesser fee for transaction if I'm not wrong and kind you, I'm not advocating for them

Ikr.. there’s a lot of features missing for the wallet, apart from the fact that it's a  closed source wallet which is normally a red flag for “Trust” but most Altcoiners enjoys using it anyway since it offers all they need, including an easy way to use and trade NFTs . And for the prediction, it is normal to expect that feature on such wallet, which only makes things more easier for anyone to operate.

[Dogedegen]

...
Yes that is what I agree with, this kind of advertising only hurts the consumers. Unfortunately we live in such times and even many people defend this as something good.

I am a defender on the fact people can do whatever they want with their money, if they want to wast it all on prediction markets, then so be it...

But there are places and times for prediction markets to be advertised and promoted, they are not supposed to become the norm on wallets which may be used for people to save money in the long term. At least, that is the way I see it.

People should have the right to do what they want with their money and we have seen many attempts at introducing restrictions on this, but we should help people to make better choices. If we do not do that and if we let for profit companies have their own way, then the lives of many people will bet quite ruined. We already see in recent news just how bad algorithms on websites have become and what damage they have done in recent history. Because of that there must be ethical reasons and boundaries which should not be allowed to be crossed. The pushback against those should come both from regulators but also from users, users should not defend activities by companies that are only hurtful like this one.

Ikr.. there’s a lot of features missing for the wallet, apart from the fact that it's a  closed source wallet which is normally a red flag for “Trust” but most Altcoiners enjoys using it anyway since it offers all they need, including an easy way to use and trade NFTs .

Many shitcoin wallets are closed source so, this is not really a disadvantage for them because they are competing with other shitcoin wallets. The standard for Bitcoin is much higher in everything, so with Bitcoin we can expect and demand wallets to be open source. For shitcoin this is not really true, most of the users there don't care about those things that is why the wallet providers also just ignore it.

And for the prediction, it is normal to expect that feature on such wallet, which only makes things more easier for anyone to operate.

No, it is not normal.. I don't know how you can say that.

[Peanutswar]

We knew how does the Polymarket becomes trending nowadays and even the wallets adapted this feature they are not just only wallet right now instead of people just sleep their funds into their wallet or even offered with the staking which tooks so long before earn money why not let their players make a long fun with the gambling of market prediction AFAIK even the phantom app have this feature too so its seems there is a really demand for this feature and profit to the platform itself.

[Julien_Olynpic]

Trust Wallet must be in dire straits if they're trying to get into a business they're not familiar with. On the other hand, these two industries are closely linked to cryptocurrency, and it's a natural fit for the company managing Trust Wallet to pursue a related business. If casinos and bookmakers offer prediction and trading pairs on their websites, why can't Trust Wallet do the same? Everyone wants to get in on the hype and increase traffic to their platform. Prediction markets are the most technologically advanced and popular form of betting today.

[DubemIfedigbo001]

When comes to hardware wallets, they allow their users to interact with smart contracts, so realistically one can use them to partake in prediction markets, but that does not mean it would be good for the makers of those HW to advertise it on the dashboard of their product.

Yes that is what I agree with, this kind of advertising only hurts the consumers. Unfortunately we live in such times and even many people defend this as something good.

Times have changed bro. Lots of business models no longer conforming with the morals, its now about not being left out in the trend, everything is now business.

Personally, I don't like the idea of a merge of prediction markets in a wallet app, it's more like providing users a medium to save and another to waste their savings at the same time. Most people cannot resist as long as it is in sight.

These wallets are slowly turning into a gambler's wallet. I believe that anyone who wants to strictly save would move away from them. Maybe over a long period of time, they would see that many holders may have migrated from their wallets and they may make a better decision or not at all.

[hedgeh0g]

I think it’s pointless that Trust Wallet is trying to enter this market of predictions, because they’re not even doing a very good job of fulfilling their duties as a crypto wallet - starting with the fact that their wallet code isn’t open‑source, and ending with the fact that they still tell users to save their seed phrase via Google Drive, even though we already know of many cases where there were hacks using this storage method, which is absolutely unreliable.
It seems to me that, for example, a serious crypto wallet like Electrum would never engage in such nonsense as Trust. But if they believe they can attract additional users this way, then by all means, let them try.

[promise444c5]

And for the prediction, it is normal to expect that feature on such wallet, which only makes things more easier for anyone to operate.

No, it is not normal.. I don't know how you can say that.

Yeah, I get that it’s not normal  to have such on a wallet but does Trust wallet looks normal to you as a wallet.. you shouldn’t be surprised at all.

They are majorly after making profits.

I am a defender on the fact people can do whatever they want with their money, if they want to wast it all on prediction markets, then so be it...

+1

“You can lead a horse to water, but you can’t make it drink.”

But there are places and times for prediction markets to be advertised and promoted, they are not supposed to become the norm on wallets which may be used for people to save money in the long term. At least, that is the way I see it.

They already accept all sort of memecoins and tokens, which are mostly related to gambling.

Again, I don’t think Altcoiners will really think anything is wrong about that, Infact it make their work easier..

[WhoYouCantKill]

Ikr.. there’s a lot of features missing for the wallet, apart from the fact that it's a  closed source wallet which is normally a red flag for “Trust” but most Altcoiners enjoys using it anyway since it offers all they need, including an easy way to use and trade NFTs . And for the prediction, it is normal to expect that feature on such wallet, which only makes things more easier for anyone to operate.

And so far there’s been no reason for people to actually feel uncomfortable using Trust wallet, and that’s why a lot of people still see it as one of the best wallets, plus it’s very easy to navigate. I used to be a huge fan of trust wallet, but right now learning about what Open Source is, and knowing that Trust Wallet isn’t open source just rapidly changed my mind and me skeptical about using that wallet.

[Botnake]

Ikr.. there’s a lot of features missing for the wallet, apart from the fact that it's a  closed source wallet which is normally a red flag for “Trust” but most Altcoiners enjoys using it anyway since it offers all they need, including an easy way to use and trade NFTs . And for the prediction, it is normal to expect that feature on such wallet, which only makes things more easier for anyone to operate.

And so far there’s been no reason for people to actually feel uncomfortable using Trust wallet, and that’s why a lot of people still see it as one of the best wallets, plus it’s very easy to navigate. I used to be a huge fan of trust wallet, but right now learning about what Open Source is, and knowing that Trust Wallet isn’t open source just rapidly changed my mind and me skeptical about using that wallet.

I’m a user of such a wallet but I’ve never used it for prediction markets. Well, maybe soon I’ll be tempted since it’s already there, and I always like to try what’s trending now. Though I regularly bet on sports, the world is moving fast and it’s hard to be left behind. Sometimes, let’s just ride the hype and see if we can be hook here as well.

[mitchr4]

For me this is just a normal thing, since I am not really into betting on that kind of market. But if this platform adds that feature, hope it does not change how Trust Wallet works as a crypto wallet.
Honestly I always use this wallet to store and send crypto. If that feature can help bring in new users, then that is even better.

[sompitonov]

For me this is just a normal thing, since I am not really into betting on that kind of market. But if this platform adds that feature, hope it does not change how Trust Wallet works as a crypto wallet.
Honestly I always use this wallet to store and send crypto. If that feature can help bring in new users, then that is even better.

I think this will undoubtedly help attract users, as it draws in even those with little prior knowledge of cryptocurrency they begin to explore the space after placing their first bets on prediction markets including via Trust Wallet. In any case, this is a growing trend, and even if Trust Wallet isn't leading the pack among prediction platforms, it will still capture a share of the user base. In a market of this scale, that translates to tens of millions of dollars if not more offering significant long-term potential.

[giammangiato]

Promoting predictions market on crypto wallet like trust wallet is quite unethical for a financial service provider where consumers are meant to store their assets becoming a ground for temptation into gambling with that money is not good, just like Banks apps offering gambling services, no matter what is not responsible approach and a misrepresentation of what their cure service really is, but nowadays, everyone is after the revenue and no one really cares about their customers protections.

It's just a business thing, I use trust wallets and to be honest I hadn't even noticed this feature (considering I open it at least 1 time a day) but I don't navigate it, I just check the progress quickly and close the application.
Let's say this "fashion" is now also implemented in traditional bank apps, not really gambling, but just investing and trading (very similar).
It's certainly an irresponsible or unethical approach, but financial services make money from it, and it's not prohibited by law. As long as it's all legal, the user is free to spend their money as they please.
The fact that there is this option does not force anyone to use it, just to know in my country this function is not implemented, I see it, I can click but it has limitations.

[laspol65]

For me this is just a normal thing, since I am not really into betting on that kind of market. But if this platform adds that feature, hope it does not change how Trust Wallet works as a crypto wallet.
Honestly I always use this wallet to store and send crypto. If that feature can help bring in new users, then that is even better.

I also have no intention of betting on the poly market, because it seems very dangerous. The chances of losing money are highest in it because of the extra risks involved, which is why it is not at all desirable for gamblers. Although trust has advertised it on the wallet to make it easy for different users, it will not attract experienced people much, but rather new users.
However, all the gamblers who enter this new market must be careful, because there is an extra risk and the chances of losing money are highest here.

[xenomorfo]

I think it’s pointless that Trust Wallet is trying to enter this market of predictions, because they’re not even doing a very good job of fulfilling their duties as a crypto wallet - starting with the fact that their wallet code isn’t open‑source, and ending with the fact that they still tell users to save their seed phrase via Google Drive, even though we already know of many cases where there were hacks using this storage method, which is absolutely unreliable.
It seems to me that, for example, a serious crypto wallet like Electrum would never engage in such nonsense as Trust. But if they believe they can attract additional users this way, then by all means, let them try.

when they insert these features then i really think that something is wrong with them
above all, surely putting these new things that no one wants puts them in danger with bugs and so on
see coldcard, now i don't trust anyone out of bias.

[Queen uloma]

For me this is just a normal thing, since I am not really into betting on that kind of market. But if this platform adds that feature, hope it does not change how Trust Wallet works as a crypto wallet.
Honestly I always use this wallet to store and send crypto. If that feature can help bring in new users, then that is even better.

Adding new features for me isn’t necessarily a bad thing in as much as it doesn’t affect the main reason of trust wallet. Wallet is suppose to be simple, reliable and secured for those that want to send and store their crypto
If the new features can attract more people without compromising security or confusing existing users, then I believe it’s a good development. But crypto wallet security should always come before adding any extra features.

[Yorubek]

I also have no intention of betting on the poly market, because it seems very dangerous. The chances of losing money are highest in it because of the extra risks involved, which is why it is not at all desirable for gamblers. Although trust has advertised it on the wallet to make it easy for different users, it will not attract experienced people much, but rather new users.
However, all the gamblers who enter this new market must be careful, because there is an extra risk and the chances of losing money are highest here.

As far as I know, there is always a risk of financial loss in gambling this risk depends on the gambler's decisions and actions, as well as on market volatility or probabilities. Where you choose to place a bet‌ or not‌ is entirely your personal decision. It is crucial to remain aware and cautious while gambling. I believe it is prudent to take risks only after acquiring proper knowledge and understanding this helps maintain self-control, thereby enabling you to avoid significant losses.