https://twitter.com/ethburnbot/status/1425230784164556803?
"945.1184 $ETH burned 🔥🔥🔥 last hour.
Issuance: 528.0000 ETH
Net Change: -417.1184 ETH
Annualized: -3.12% 📉
2021-08-10 22:00-23:00 UTC
Last Block: 13000300
Cumulative 🔥: 24,942.1282 ETH"
Topic: [ANN] Ethereum: Welcome to the Beginning - page 35. (Read 2007008 times)
I thought EIP-1559 will help reduce the gas fees when transacting on eth network but its so disappointing can't even exchange my erc20 tokens bought at Dex because of too much fees $43.60 low fees now this is horrible network I hope this is just temporary and eventually price will stabilize to much lower compare to now below $1 is fine but $43 for token transfer fees hell no!
It's myth. Gas now shows the gas price is not too high but I can not consider 40 Gwei is a cheap price. In 2020, before the DeFi season, gas price was cheaper, under 20 Gwei but price of ETH is about $200. Now ETH is trading at more than $3,100.Transaction fees on ERC-20 chain is x30 more expensive than in May 2020.
https://www.gasnow.org/
I thought EIP-1559 will help reduce the gas fees when transacting on eth network but its so disappointing can't even exchange my erc20 tokens bought at Dex because of too much fees $43.60 low fees now this is horrible network I hope this is just temporary and eventually price will stabilize to much lower compare to now below $1 is fine but $43 for token transfer fees hell no!
No mention of the huge DEFI hack that just happened ?
the hacker wanna give back the funds
https://np.reddit.com/r/CryptoCurrency/comments/p25cex/the_polynetwork_hacker_is_returning_the_funds/
No mention of the huge DEFI hack that just happened ?
Also above poster you forget to mention base fees makes eth transfers always more expensive due to the adjusting mechanism, and block size is doubled - but I think you mean to say block size always tends to being 50% full, because thats the adjusting mechanism for the base fee.
Also above poster you forget to mention base fees makes eth transfers always more expensive due to the adjusting mechanism, and block size is doubled - but I think you mean to say block size always tends to being 50% full, because thats the adjusting mechanism for the base fee.
Trouble understanding the Ethereum EIP 1559 upgrade? Here's the simplest analogy for this yet!
Ethereum is burning $10,000 every single minute since EIP 1559 was deployed this afternoon, ahead of schedule. Today let’s take a look at why this upgrade was done, and what it means for you. Called the London Fork, think of this being the difference between a regular traffic intersection in India, and an intersection that is well-regulated with traffic signals. Previously, the blockchain struggled with transaction fees that were like chaotic intersections – users had to compete in a closed bid auction, guessing at what any miner would accept for processing their transaction. Now Ethereum will use an algorithm based on network activity, like a traffic signal, to decide what the transaction fee will be, ie who gets the green light and who has to wait. This not only stabilizes the fee, it also doubles the block size, allowing more transactions to happen, the way more traffic can flow when it is well-regulated.
Additionally, there is the important Ethereum Improvement proposal, or EIP, number 3554, where there is a historic shift from the proof of work protocol which guzzles so much electricity, to the more efficient proof of stake. Here, instead of crunching a billion calculations, users verify transactions using their existing activity and stake. This EIP was originally scheduled for 2022, but has been moved up to December, encouraging miners to upgrade their software now!
Ethereum is burning $10,000 every single minute since EIP 1559 was deployed this afternoon, ahead of schedule. Today let’s take a look at why this upgrade was done, and what it means for you. Called the London Fork, think of this being the difference between a regular traffic intersection in India, and an intersection that is well-regulated with traffic signals. Previously, the blockchain struggled with transaction fees that were like chaotic intersections – users had to compete in a closed bid auction, guessing at what any miner would accept for processing their transaction. Now Ethereum will use an algorithm based on network activity, like a traffic signal, to decide what the transaction fee will be, ie who gets the green light and who has to wait. This not only stabilizes the fee, it also doubles the block size, allowing more transactions to happen, the way more traffic can flow when it is well-regulated.
Additionally, there is the important Ethereum Improvement proposal, or EIP, number 3554, where there is a historic shift from the proof of work protocol which guzzles so much electricity, to the more efficient proof of stake. Here, instead of crunching a billion calculations, users verify transactions using their existing activity and stake. This EIP was originally scheduled for 2022, but has been moved up to December, encouraging miners to upgrade their software now!
London hard fork is big news. This shows that Ethereum can successfully introduce fundamental changes, and all the changes aren't just vaporware.
☝️ would love to see his awesome crypto-expert-portfolio, after he drags almost every altcoin in the mud here...
would tip 50% $ADK, 25% Bitconnect and 25% OneCoin.
would tip 50% $ADK, 25% Bitconnect and 25% OneCoin.
ETH will reach $10,000 one day.. Welcome back Piston, you never seize to amaze me with your words of wisdom whenever you frequent this thread
wait, the fork happened with no bugs?! WOW!!
WHY IS MY ETH NOT WORTH 10k each right now?!
Scam!!!!
WHY IS MY ETH NOT WORTH 10k each right now?!
Scam!!!!
What are you talking about?
https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
With Gas Now, you can slip the scroll bar under the Average GasPrice table. You will see the hours with which gas price tend to be cheapest.https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
I share some articles to know hours that you can move Ethereum and ERC20 tokens with cheapest gas price.
When is the best time to send Ethereum transactions?
Ethereum: how to save even more on gas price with a weekly plan
Here are the best and worst times of the day to use Ethereum
What are you talking about?
https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
All those are not correct fees anymore after eip crap is introduced, please learn first and than come back to talk something.https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
Now there is only base fee and priority fee.
https://notes.ethereum.org/@vbuterin/eip-1559-faq
If they are wrong then compare the values at https://www.gasnow.org/ and at https://etherscan.io/blocks
Gas trackers calculate the average gas price based on the current situation, and for most users there is no need to know about the base fee and priority fee
What are you talking about?
https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
All those are not correct fees anymore after eip crap is introduced, please learn first and than come back to talk something.https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
Now there is only base fee and priority fee.
This is so stupid with this fees ethereum is now officially permanently unusable, and nobody even knows exactly how to calculate fees correctly now.
What are you talking about?https://ethgasstation.info/index.php
https://etherscan.io/gastracker
they will perfectly help you find the price you need, but the best service in my opinion
https://www.gasnow.org/
__
$30 Million in Ethereum Burned Just Two Days After EIP-1559 Launch
The Ethereum network has removed $30 million from circulation since the London hard fork came into effect on August 5, which changed the way miners are rewarded.
https://decrypt.co/77996/30-million-in-ethereum-burned-just-two-days-after-eip-1559-launch
This is so stupid with this fees ethereum is now officially permanently unusable, and nobody even knows exactly how to calculate fees correctly now.
yay higher permanent fees for everyone
wait, the fork happened with no bugs?! WOW!!
WHY IS MY ETH NOT WORTH 10k each right now?!
Scam!!!!
WHY IS MY ETH NOT WORTH 10k each right now?!
Scam!!!!
This fork was such a stupid idea that just made fees more than before, and it will not solve any problem on Ethereum.
Sure it can with switching to POS.
But the bigger problem is that with the POS, which is a blockchain variant of banking deposits, ethereum will get more centralized and declared as a security in USA. And this means more regulations and even bans like the ICOs.
Can ETH get more centralized then it is now? Sure it can with switching to POS.So you mean that fork was not a good idea ? Wouldn't they knew before what will be the impact on fee after this fork ?
I think over the passage of time, burning of eth on every tanscation will make it a scare asset and it will eventually increase in demand.
I would like to see if there is good signafinant impact on fee after few days of the fork.
Fee is already normal, but London fork is not about to lower fees, its about to make it predictable by make it automatic instead of manual/user bidding (which maybe will lower fees in a certain cenarios, time will tell)
Besides of that transaction fees are burning which is indeed a good thing in long run.
This fork was such a stupid idea that just made fees more than before, and it will not solve any problem on Ethereum.
Sure it can with switching to POS.
But the bigger problem is that with the POS, which is a blockchain variant of banking deposits, ethereum will get more centralized and declared as a security in USA. And this means more regulations and even bans like the ICOs.
Can ETH get more centralized then it is now? Sure it can with switching to POS.So you mean that fork was not a good idea ? Wouldn't they knew before what will be the impact on fee after this fork ?
I think over the passage of time, burning of eth on every tanscation will make it a scare asset and it will eventually increase in demand.
I would like to see if there is good signafinant impact on fee after few days of the fork.
The COVIDPunks sale coincided with the London upgrade on the ETH network, the Ethereum network was clogged, which led to an increase in the transaction fee of 70 Gwei to more than 400 Gwei, thanks to this, COVIDPunks became the biggest “ETH burner”in an instant as a result, many transactions that were sent to mint COVIDPunks failed and potential buyers of COVIDPunk lost a total of 174.39 ETH or $489,868 on unsuccessful transfers. https://decrypt.co/77847/users-lose-490000-trying-to-mint-knockoff-cryptopunks-nfts
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