I get that the transaction fees could be lower (which I can see when I check) but I will still not come back to ETH because with my metamask, I have some USDT and I do not have any ETH at all, checked how much it would cost to swap that USDT into ETH so that if the cost finally got lower then I would deposit some ETH and swap it, and it still said 100 to 200 dollars for such a swap. Obviously, it involves approve costs and all that as well but it is still not even near enough, why would I want to spend 100 to 200 dollars to start swapping ETH to USDT and back?
As long as gas fees and swap fees and everything else stays this way I am going to keep staying away from ETH and will not buy anything from there.
Topic: Are people already making low Ethereum gas fee transfers due to EIP-1559? (Read 131 times)
November 22, 2021, 01:46:35 PM
November 21, 2021, 02:04:29 PM
Sorry if this may sound ignorant but I have not used Ethereum network for almost over a year due to gas fees, so I am not so sure what going on in the network lately.
Today, when I check Eth Gas Station (http://www.ethgasstation.info/?currency=USD) I noticed the gas price is now displayed in 2 formats. The miner tip and legacy gas price
My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
Today, when I check Eth Gas Station (http://www.ethgasstation.info/?currency=USD) I noticed the gas price is now displayed in 2 formats. The miner tip and legacy gas price
My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
I also so this today and i was a little confused but if you look at the ethgasstation a little below that area that you posted then you will see the base fee (at the moment) it is 110 gwei. So i would read this as 110 is the base-fee in order to have a a transaction accepted and then there are the values that you posted above to make the transaction fast, standard or slow. I am not really sure what has changed now because of EIP-1559 because so far it has not really an impact to normal users like me that don't really know the code and tech behind Ethereum and just use is to transfer funds and do swaps and stuff like that.
November 21, 2021, 01:47:01 PM
Personally I haven’t noticed any significant difference. As for me, Ethereum is still too expensive so I work on Binance Smart chain, Polygon and Tron that also have developed ecosystems with many defi-projects with different functions. Ethereum price fees depend on traders’ activity and Ethereum’s price. At the end of October, the average commissions on Ethereum were $22.5. Then, along with the increase in the cost of ETH, fees sharply increased due to increased network activity. On November 1, the average commission soared to $52.97 - this is the maximum value since the beginning of September.
November 16, 2021, 11:37:55 AM
in my opinion even after the implementation of the EIP-1559 protocol the situation of the eth transaction fees has not improved at all 12 $ to move eth and an average of 16 $ to move the other tokens seems to me a lot and then i am still not able to read, calculate these new graphs,price forecasts on ethgasstation
November 16, 2021, 11:28:46 AM
Hey, I am the developer of the app Gweifications.
The prices you see on ETH Gas Station only show the priority fee (miner tip). They are on top of the base fee, which should be shown a bit below. It is a different way of calculating gas since EIP-1559 upgrade. We can only dream of < 10 gas price for now.
I have updated the app to be less confusing than ETH Gas Station. It shows the base fee + priority fee, which is the actual value you will use, when sending transactions.
Thanks, this sort of clears the confusion.The prices you see on ETH Gas Station only show the priority fee (miner tip). They are on top of the base fee, which should be shown a bit below. It is a different way of calculating gas since EIP-1559 upgrade. We can only dream of < 10 gas price for now.
I have updated the app to be less confusing than ETH Gas Station. It shows the base fee + priority fee, which is the actual value you will use, when sending transactions.
I have another question. I have seen transaction details of different TX IDs. Under transaction type. Some transactions are labelled as Legacy, like this while others are labelled as EIP-1559 like this one
https://i.imgur.com/LF61O7r.png
https://i.imgur.com/sMeSFf1.png
Why are they labelled differently if there's no much change on gas prices?
Does one need to use a specific wallet software to broadcast an EIP-1559 transaction type?
Hey,
In a nutshell, some of the wallets may still be using the old transaction type (they need to change their code) or users haven't updated their software. But EIP-1559 is fully backwards compatible, so any old way of doing transactions is still verified by the nodes, just labelled as legacy.
Most serious wallets migrate super quickly after Ethereum upgrade announcements.
November 16, 2021, 10:44:29 AM
Hey, I am the developer of the app Gweifications.
The prices you see on ETH Gas Station only show the priority fee (miner tip). They are on top of the base fee, which should be shown a bit below. It is a different way of calculating gas since EIP-1559 upgrade. We can only dream of < 10 gas price for now.
I have updated the app to be less confusing than ETH Gas Station. It shows the base fee + priority fee, which is the actual value you will use, when sending transactions.
Thanks, this sort of clears the confusion.The prices you see on ETH Gas Station only show the priority fee (miner tip). They are on top of the base fee, which should be shown a bit below. It is a different way of calculating gas since EIP-1559 upgrade. We can only dream of < 10 gas price for now.
I have updated the app to be less confusing than ETH Gas Station. It shows the base fee + priority fee, which is the actual value you will use, when sending transactions.
I have another question. I have seen transaction details of different TX IDs. Under transaction type. Some transactions are labelled as Legacy, like this while others are labelled as EIP-1559 like this one
Why are they labelled differently if there's no much change on gas prices?
Does one need to use a specific wallet software to broadcast an EIP-1559 transaction type?
November 16, 2021, 09:22:30 AM
When I checked recently the fee was about $30 for tokens and $90 on decentralized exchanges so its never came down if I am not wrong and its somewhat for different kind of eth transfer or something else?
Fee is still higher and people with less funds on tokens were stuck in their wallet for very long time.
Fee is still higher and people with less funds on tokens were stuck in their wallet for very long time.
November 16, 2021, 06:25:23 AM
~
My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
IIRC, those fees were already happening prior to EIP-1559. One of the main reason might have been setting a ceiling for the Gas limit up to 15 million (from 12.5 M) which helped relieved network congestion. The adjustment took place around April this year following a suggestion from Vitalik. My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
November 16, 2021, 06:05:32 AM
My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
nothing has changed since the update. Gas fees are still expensive and there's no sign that it's going down, even though the update is already underway. and if you want to see detail GAS Fees on the ethereum network here "https://etherscan.io/gastracker" there information is more accurate and easy to understand than ethgasstation. I don't think EIP-1559 can solve the fee problem, we need ETH 2.0 as soon as possible.
November 16, 2021, 05:55:17 AM
Hey, I am the developer of the app Gweifications.
The prices you see on ETH Gas Station only show the priority fee (miner tip). They are on top of the base fee, which should be shown a bit below. It is a different way of calculating gas since EIP-1559 upgrade. We can only dream of < 10 gas price for now.
I have updated the app to be less confusing than ETH Gas Station. It shows the base fee + priority fee, which is the actual value you will use, when sending transactions.
The prices you see on ETH Gas Station only show the priority fee (miner tip). They are on top of the base fee, which should be shown a bit below. It is a different way of calculating gas since EIP-1559 upgrade. We can only dream of < 10 gas price for now.
I have updated the app to be less confusing than ETH Gas Station. It shows the base fee + priority fee, which is the actual value you will use, when sending transactions.
November 15, 2021, 01:32:56 PM
LATEST GAS PRICE (GWEI)
Fast
249
<30 sec
Standard
192
<5 min
Slow
177
<30 min
https://crypto.com/defi/dashboard/gas-fees
Low
208 gwei
Base: 207 | Priority: 1
$16.25 | ~ 10 mins: 0 secs
Average
208 gwei
Base: 207 | Priority: 1
$16.35 | ~ 3 mins: 0 secs
High
210 gwei
Base: 207 | Priority: 3
$16.35 | ~ 3 mins: 0 secs
https://etherscan.io/gastracker
Im not seeing that these are low values.
Fast
249
<30 sec
Standard
192
<5 min
Slow
177
<30 min
https://crypto.com/defi/dashboard/gas-fees
Low
208 gwei
Base: 207 | Priority: 1
$16.25 | ~ 10 mins: 0 secs
Average
208 gwei
Base: 207 | Priority: 1
$16.35 | ~ 3 mins: 0 secs
High
210 gwei
Base: 207 | Priority: 3
$16.35 | ~ 3 mins: 0 secs
https://etherscan.io/gastracker
Im not seeing that these are low values.
November 15, 2021, 09:21:47 AM
few days ago i tried to sell some old tokens in MEW because gas is not available, forced to sell assets in one of the markets and send it to mew and after i see the cost is still high between 10$ - 12$ and the lowest gas is gas for MEW to MEW transactions
Gas Used:
29,992,300 (99.93%)
+100% Gas Target
Gas Limit:
30,013,005
Base Fee Per Gas:
0.000000078751373875 Ether (78.751373875 Gwei)
while from market to MEW
Gas Used:
30,026,191 (99.99%)
+100% Gas Target
Gas Limit:
30,029,295
Base Fee Per Gas:
0.000000104267991309 Ether (104.267991309 Gwei)
Gas Used:
29,992,300 (99.93%)
+100% Gas Target
Gas Limit:
30,013,005
Base Fee Per Gas:
0.000000078751373875 Ether (78.751373875 Gwei)
while from market to MEW
Gas Used:
30,026,191 (99.99%)
+100% Gas Target
Gas Limit:
30,029,295
Base Fee Per Gas:
0.000000104267991309 Ether (104.267991309 Gwei)
November 15, 2021, 07:00:39 AM
Well am not sure if the above shot is applicable in the current state of eth fees since it has also being a while i made any transfer using eth network, but according to Gweifications app i install on my device, the gas price is still at ...
speed gas price txn fee
Fast - 101 $10.05
Average 96 $9.55
Safe low 94 $9.35
and don't forget gas price for sending eth and tokens are different, this doesn't seem low to me.
speed gas price txn fee
Fast - 101 $10.05
Average 96 $9.55
Safe low 94 $9.35
and don't forget gas price for sending eth and tokens are different, this doesn't seem low to me.
November 09, 2021, 06:55:31 PM
Sorry if this may sound ignorant but I have not used Ethereum network for almost over a year due to gas fees, so I am not so sure what going on in the network lately.
Today, when I check Eth Gas Station (http://www.ethgasstation.info/?currency=USD) I noticed the gas price is now displayed in 2 formats. The miner tip and legacy gas price
My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
Today, when I check Eth Gas Station (http://www.ethgasstation.info/?currency=USD) I noticed the gas price is now displayed in 2 formats. The miner tip and legacy gas price
My question is have people already started paying lower fees on Ethereum network due to a gradual protocol change as shown by ETH Gas Station?
Jump to: