ETH and BSC - page 27. | Bitcointalksearch.org

perfect999

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Quote from: Gorosden on April 03, 2021, 10:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

I would love it if BNB keeps going higher and higher, because it is something that I would love to see, I own BNB as well (although I have ETH too so I want that to go higher as well) but I have one thing I am afraid of; ETH will have eip1559 during July which will drop the cost of transactions which will make ethereum wanted again I believe, and that means we are talking about something that would actually be very profitable for eth holders but if everyone switches back to ethereum that means the need for BNB will go lower and that will decrease the price of it as well.

This is why I think it is quite risky for me right now, I am not selling my BNB because I believe it can survive that, but I am just a bit worried about what could happen if ETH suddenly became like 2 dollars to move around? That would really hurt BNB, I don't know how much but it will definitely hurt even if slightly.

ardentvolcanoes

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Quote from: Lantind on April 15, 2021, 10:41:31 AM

Quote from: prehisto on April 15, 2021, 09:18:40 AM

It defintely will crash and burn. Okay at least crash an never revisit those highs, remeber that we have has similar situations with bitcoin cash and btc.. the eth fees will go down and the bsc will lose its relavency.

It seems that the BSC will not just disappear when ETH costs have decreased and stabilized at a low rate, because they are basically on a different path so that investors and new project developers can make the choice of which one they will choose for their business.

True. Developers now can choose between even ETH resolve the issue with high transaction fees,

with how BSC managing their own ecosystem a lots of developers are now eyeing to build their project using this chain.

Expect to see more growth and a good competitions between those projects that have good chain that developers can use to create new projects.

kenelmark

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Quote from: coinbitrade on April 15, 2021, 07:56:06 AM

of course BSC has a better chance of success. ETH got drunk with their transaction fees, and moreover, even after the Berlin update, as we saw, the transaction price remained practically unchanged.

True, but what makes me still amazed at this point is that Ethereum continues to rise in price even though the transaction fees on their network are still very expensive when compared to the Binance BSC network.

Lantind

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Quote from: prehisto on April 15, 2021, 09:18:40 AM

It defintely will crash and burn. Okay at least crash an never revisit those highs, remeber that we have has similar situations with bitcoin cash and btc.. the eth fees will go down and the bsc will lose its relavency.

It seems that the BSC will not just disappear when ETH costs have decreased and stabilized at a low rate, because they are basically on a different path so that investors and new project developers can make the choice of which one they will choose for their business.

Altcoinsintel

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Quote from: Gorosden on April 03, 2021, 10:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

The problem comes when there is limited decentralization. Creating a blockchain that suffers this way from centralized governance and having one party in charge is making it difficult for BSC to become adopted. I don't think BSC will try to become more decentralized either, and while it is the fees that many claim they helped BSC reach some popularity, it is still the fact that it is a Binance related blockchain that may give access to trading some tokens in the exchange that developers are looking for and choosing BSC instead of ETH.

prehisto

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Quote from: Gorosden on April 03, 2021, 10:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

It defintely will crash and burn. Okay at least crash an never revisit those highs, remeber that we have has similar situations with bitcoin cash and btc.. the eth fees will go down and the bsc will lose its relavency.

Renampun

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I am increasingly convinced that the eth fee will not be reduced...
maybe my thoughts are too wild, I mean, maybe the BSC is eth 2.0 that has been rumored so far IMO 'lol'. BSC is slowly shifting erc dominance, the majority of developers will definitely move from erc to bep20.

bison

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Quote from: gabbie2010 on April 15, 2021, 07:39:57 AM

Quote from: Mr.007 on April 12, 2021, 04:24:40 PM

I think binance smart chain will continue to grow rapidly in a very fast time because so many people are starting to use it, the binance smart chain community is now also quite large

The coming on board of BSC into the cryptoshpere has been addressing the shortcomings of ethereum in term of high cost of transaction gas invariably many projects had started switching over to that network , no wonder the growth of BNB in term of price was felt in the last few days and the swiftness in the transactions of BSC was an added advantage, ETH developers has to fast track ETH 2.0 which I believe will address some of this issues else they will continue to lose their teeming users to BSC.

The BSC has really been the solution for all those who are expecting too long on ethereum which is getting more and more expensive from the start of this year to the present. but burdens steadily increasing transaction costs. while BNB supports the BSC which is getting stronger now.
I can't wait for the ethereum 2.0 update to finish rolling out. Moreover, the market momentum that is still goodwill makes the market situation full of surprises. don't let ethereum 2.0 arrive at the wrong momentum.

coinbitrade

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Quote from: gabbie2010 on April 15, 2021, 07:39:57 AM

Quote from: Mr.007 on April 12, 2021, 04:24:40 PM

I think binance smart chain will continue to grow rapidly in a very fast time because so many people are starting to use it, the binance smart chain community is now also quite large

The coming on board of BSC into the cryptoshpere has been addressing the shortcomings of ethereum in term of high cost of transaction gas invariably many projects had started switching over to that network , no wonder the growth of BNB in term of price was felt in the last few days and the swiftness in the transactions of BSC was an added advantage, ETH developers has to fast track ETH 2.0 which I believe will address some of this issues else they will continue to lose their teeming users to BSC.

of course BSC has a better chance of success. ETH got drunk with their transaction fees, and moreover, even after the Berlin update, as we saw, the transaction price remained practically unchanged.

gabbie2010

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Quote from: Mr.007 on April 12, 2021, 04:24:40 PM

I think binance smart chain will continue to grow rapidly in a very fast time because so many people are starting to use it, the binance smart chain community is now also quite large

The coming on board of BSC into the cryptoshpere has been addressing the shortcomings of ethereum in term of high cost of transaction gas invariably many projects had started switching over to that network , no wonder the growth of BNB in term of price was felt in the last few days and the swiftness in the transactions of BSC was an added advantage, ETH developers has to fast track ETH 2.0 which I believe will address some of this issues else they will continue to lose their teeming users to BSC.

DoublerHunter

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Quote from: Mauser on April 15, 2021, 01:37:28 AM

Quote from: Gorosden on April 03, 2021, 10:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

I agree that it all depends on the ETH gas fee, the price is very dependent. The only issue is that we don't know for certain if the gas fee is going to be lower in the future on remain on similar levels. If you are right and the gas fee will drop then ETH will be king again. It is hard to say if BSC is going to be new number 2 crypto coin right behind Bitcoins. If we own both coins we would profit no matter what.

^ ETH will be a king? No way, BTC will always be a king.
Regarding these two cryptocurrencies at this moment we can not tell who is the better one, but in a long term, I prefer to choose ETH over the BSC. We know that BSC is just forking the ETH network and aiming the lower fees but it will remain useful is ETH. Without this, also BNB will become a failure. BSC will probably very common to use now because of the fee but once the ETH V2.0 will release, the fees will back to normal. Nevertheless, if you don't see ETH is not good for transactions but I saw this is good for storing the value.

tyz

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Quote from: coinbitrade on April 14, 2021, 11:09:17 AM

Quote from: Lantind on April 14, 2021, 11:06:43 AM

Quote from: Mr.007 on April 12, 2021, 04:24:40 PM

I think binance smart chain will continue to grow rapidly in a very fast time because so many people are starting to use it, the binance smart chain community is now also quite large

Yes, and people who have switched from the Ethereum network to the Binance Smart Chain have also helped themselves a lot in terms of providing their transaction fees when they need it, so usage of the Binance Smart Chain will increase over time as new project developers have also using the Binance Smart Chain network at the moment.

much more convenient than bsc, I use and cannot get enough of the commissions for transactions and their speed. I also liked the HT chain, which is also fast, cheap and convenient.

The HT Chain is also only fast, cheap and convenientas long as there is little traffic/transactions on the chain. Ethereum would be just as fast if there were fewer transactions. I remember in the early days of ETH, it was much more convenient to send transactions than with the Bitcoin blockchain. Today, often the opposite is true, although Bitcoin also has big problems in that area.

leea-1334

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Quote from: plexasm on April 14, 2021, 02:22:49 PM

ETH devs have failed to provide a solution for scaling in 5 years. They've simply failed and now they need to deal with more competent competitors. If ETH fees go to $1 tomorrow, they'd still have a very significant challenge.

ETH fees are more likely to decrease because people stop using it than ETH devs do something innovative for scaling.

Perhaps this is true but only in the case of defi,,, more people moving to other less expensive platforms but the big whales still know their LPs are doing well with volume. Hard fork for ETH happening soon, first Berlin and then London. ETH 2.0 is definitely coming and I think a lot of stakers are patiently waiting for this now.

chakhigh

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Security and high gas fees still an issue for Ethereum. Eth needs an upgrade sooner than later. Until then, we cannot truly predict which one is better ETH or BSC.

There are two strong foundations with BSC right now.
First, the transaction fees are lower than Ethereum.
Second, there are more projects using/switching to it over eth.

So, I think BSC will keep going for a while with new projects, like for instance mocktail.finance, entering the crypto sphere. Only time will tell the winner.

Mauser

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Quote from: Gorosden on April 03, 2021, 10:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

I agree that it all depends on the ETH gas fee, the price is very dependent. The only issue is that we don't know for certain if the gas fee is going to be lower in the future on remain on similar levels. If you are right and the gas fee will drop then ETH will be king again. It is hard to say if BSC is going to be new number 2 crypto coin right behind Bitcoins. If we own both coins we would profit no matter what.

XZERO1

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Quote from: Gorosden on April 03, 2021, 10:34:39 AM

what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

Depends on how much lower we're talking about, if Ethereum 2.0 comes out and the fee to make a swap decreases to ~$1 per transaction or lower, then it will most likely will take over the market and new projects again and Ethereum blockchain will have the most trading volume once again, but if the difference and improvement in transaction fees is more minor and people still have to pay around $5-10 to make a transaction I doubt it will change anything.

But I'm very optimistic that they will try their best to minimize the transaction fees as much as they can, specially now that they saw how they can easily be replaced with BNB or other coins with lower transaction fees, since many people(specially traders) rightfully couldn't care less about decentralization when they have to pay $100-200 or even more in some stances for a single transaction when network traffic is high which is absurd to say the least.

blue_nexus15

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Quote from: btc-facebook on April 14, 2021, 05:35:39 PM

BSC is only an alternative, however nothing can beat ethereum technology, to this day, Ethereum is still in the 2nd place market cap, this shows if Ethereum has the trust and technology that is used by everyone, if ethereum gas returns to normal, I still believe that many projects that will move to Ethereum will return to using BSC instead.

I think, if only relying on gas that is almost 100 times lower than ETH, then surely BNB cannot beat ETH. Because, ETH is still holding the extremely important trending in Defi compatibility. Currently, ETH still attracts a lot of investors because the large volume of transactions in the past 2 days has proven it. ETH is still the # 1 altcoin with the new ATH at $ 2481 (binance). If the trend is supported until ETH 2.0 launches. It can hit 3k-5k $

sulis sudibyo

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Quote from: masulum on April 14, 2021, 04:11:15 PM

Quote from: plexasm on April 14, 2021, 02:22:49 PM

BNB is not threatening ETH only because of ETH's high fees; although it helps.

Binance, the biggest crypto exchange in the world, is offering incentives for users to stop using ETH and start using BNB. that's a lot for ETH to compete with. Imagine what an altcoin project would pay for 24/7 advertising on every page of Binance. BSC gets this for free.

If you haven't noticed, DeFi/NFT users don't give a shit about decentralization. They only care that it's open and without KYC. CZ is taking advantage of that fact by offering a more centralized network, but the trade-off is that it's 100x more scaleable, cheaper and faster. A long criticism of ETH is: "If this is useful and successful, then competitors will simply fork it and offer it cheaper and faster" (ETH HAS NO PROPERTIES WHICH ARE IRREPRODUCIBLE). Oh, that's exactly what CZ did!

ETH devs have failed to provide a solution for scaling in 5 years. They've simply failed and now they need to deal with more competent competitors. If ETH fees go to $1 tomorrow, they'd still have a very significant challenge.

ETH fees are more likely to decrease because people stop using it than ETH devs do something innovative for scaling.

ETH 2.0 promising a solution for this, and people waiting for it. But, I'm afraid if this just a hope, because in reality too much delay from dev. In other side, BSC look like easy to change their token tx fee. Few weeks ago we need to pay 10 GWEI for transfer BSC tokens, and now it reduced to 5 GWEI. From this, I'm thinking about why BSC can do simple things like this, while ETH need to change entire network to fix current gas price issue.

yes you're right about this. BSC seems to have solved the problem on the ethereum network. they solve the problem easily. but look at ethereum at the moment, not a solution and they only promise that when network 2.0 is operational the problem can be resolved. doesn't this sound like an empty promise ?, why wait for so many delays, when other platforms do it easily.

that's why I think BSC is the best at the moment.

btc-facebook

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BSC is only an alternative, however nothing can beat ethereum technology, to this day, Ethereum is still in the 2nd place market cap, this shows if Ethereum has the trust and technology that is used by everyone, if ethereum gas returns to normal, I still believe that many projects that will move to Ethereum will return to using BSC instead.

TWW

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Quote from: masulum on April 14, 2021, 04:11:15 PM

ETH 2.0 promising a solution for this, and people waiting for it. But, I'm afraid if this just a hope, because in reality too much delay from dev. In other side, BSC look like easy to change their token tx fee. Few weeks ago we need to pay 10 GWEI for transfer BSC tokens, and now it reduced to 5 GWEI. From this, I'm thinking about why BSC can do simple things like this, while ETH need to change entire network to fix current gas price issue.

it's because they have a different system. ethereum has been consistent with the projects they are working on. and planning the transaction fee issue was discussed in July.
BSC does get a privilege nowadays because they have a very cheap network for transactions. it made the traders comfortable.
but now the RSK (bitcoin network) appears again, the costs are also very cheap. you can try it. only the development of coins and exchanges is still small. I am sure it will be great.

Topic: ETH and BSC - page 27. (Read 7008 times)