Eth gas fees and investing | Bitcointalksearch.org

kak uli

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

I am not a technologist, let alone a programmer, just an investor and trader.

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

maybe that is the case with ethereum, it seems like everyone who makes transactions always complains about the high fees, and that has been a conversation a few weeks ago until now.
because now there are many altcoins that are trying to compete with ethereum, maybe ethereum fans beforehand will switch or move to other altcoins.

wxxyrqa

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On April 3, one of the big whales transferred Ethereum in the amount of $ 1,363,285,904.77 to the contract address of the investment protocol and I would like to note that the commission for this transaction was only $ 40. I believe that this is generally a negligible gas fee for transferring 629,000 ETH. https://etherscan.io/tx/0xa7d04374aa42725d278e7bdf8c3be1bc902da732f0025b026f4f6f6696fc1cae

It may be necessary to choose a more suitable time for making transactions, because transactions are much cheaper at night.

noorman0

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[Nope]No hype delivers more than hope

ETH is less likely to sink seeing the price creep up. The hype defi is still ongoing and of course the demand for ETH is still high for gas needs. Generally, the high transaction fees are mostly felt by defi fans and dex users where gas fees can increase from normal fees.

Lantind

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Quote from: cafee_orange on March 30, 2021, 02:06:50 AM

maybe you say that will happen with ethereum if the transaction fees are very high, it is a lot of complaints by bounty participants and also erc20 or Ethereum fans. When compared to other altcoin transactions, the highest transaction fees are when we make transactions using the ERC20 platform. ethereum should fix it as soon as possible

Yes, if you look at the Altcoin space it is true that the Ethereum Platform has a very high cost when compared to other platforms today, but make no mistake that if this problem is fixed by Ethereum soon, then several other platforms will die and only partially survive just because of the influence of his current popularity.

cafee_orange

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

I am not a technologist, let alone a programmer, just an investor and trader.

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

maybe you say that will happen with ethereum if the transaction fees are very high, it is a lot of complaints by bounty participants and also erc20 or Ethereum fans. When compared to other altcoin transactions, the highest transaction fees are when we make transactions using the ERC20 platform. ethereum should fix it as soon as possible

malikg18

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Eth gas fees is Disturbing. Gas fee is higher tan the actual price of tokens which I want to transact.If this situation continues then Alternative platform will take place of Ethereum.Currently BInanace smart chain BSC ,Tron network is trying to overcome this.

Wawa2013

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I'm sure most of the members of this forum are not technologists and programmers like you, so we don't need to be a technologist and programmer
to understand how this crypto world works. The most important thing is to always be diligent in educating ourselves by reading about all things related
to crypto. Later, with time we will find out how to become successful investors or traders.

Regarding Ethereum gas fees, it is very high. this is because the demand for Ethereum is very high and also with many people using the Ethereum
platform, this is what causes very high Ethereum gas fees. But you don't need to worry that Ethereum won't sink because of that, because in addition
to the Ethereum community being so loyal, the Ethereum development team is also in the process of solving this problem. So for Ethereum users,
we should be a little patient.

Psynthax

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Gas fee is the reason why people migrating over to BSC but definitely not the only factors that determine which price point ETH should be in, the ETH value right now is highly influenced by the institutional investors that baghold and the gas fee has little to do with it, and those whales that holds eth rarely execute any transactions and if they do the current gas is some measly amount for them. not to mention that in july the team says it's gonna resolve current ETH problems regarding gas and many more.

shoreno

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no you dont need to be a technologist or a programmer to be good at this things but you are already on the right position . as a crypto trader/investor you are studying anything in crypto including thier fees . since your here i assume you already knew that eth fees are high but thats it , there is no real benefits of digging deeper . its only common sense if what will happen when a coin has a fee , obviously more people will avoid it . eth fee or eth price itself could sink if the problem persist

martina14

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

I am not a technologist, let alone a programmer, just an investor and trader.

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

As long as the ETH price value continue increasing in the market, the gas fee will do the same thing to increase also.
And this most often happened in the bounty campaign after it is done the distribution was being delayed due to the gas fee was too
expensive. So, the choice we got for this problem is but to wait when the price of ETH will get down.

Silberman

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

I am not a technologist, let alone a programmer, just an investor and trader.

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

The fees were a huge problem and even now can be quite high especially if you want to move a low amount of new coins, the ones behind the ethereum platform are already working on it and they will implement a way to lower the fees during the next months, so this is not going to be something that is going to sink ethereum but it is something that it is putting at a disadvantage compared to what see in other blockchains especially binance that is gaining so much momentum lately.

Lmaooo

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

I am not a technologist, let alone a programmer, just an investor and trader.

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

Lol, the Ethereum gas fee is expensive because the Ethereum network is congested. In fact, over congested due to the rise of Ethereum decentralized apps knows as "dapps" more especially Decentralized Finance "DeFi"

We currently live in the age of DeFi, they are on the rise! And 80% of DeFi platforms were built on Ethereum smart contracts, with huge instructions to execute and huge amount of people on them.

But once Ethereum Blockchain is fully migrated to the Proof of Stake consensus all these expensive fees and congestion would be over.

kopijos

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

I am not a technologist, let alone a programmer, just an investor and trader.

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

The cost of ethereum gas is high because the ethereum price has experienced a high increase, I think if the ethereum price is low, it is possible that the ethereum gas fee price will also be low. This is a plausible theory and this has been the case for a long time now for ethereum gas fees

wxxyrqa

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Even high gas prices do not reduce the demand for the erc20 platform in the cryptocurrency market.
I believe that sometime in July the last phase of update 2.0 will be launched, with help from the London hard fork. I am definitely expecting this event. The fact is that miners will lose their income and therefore will resist this process. But the team is very serious about making Ethereum deflationary and lowering fees.

MishaSER

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Quote from: dhemasm on March 10, 2021, 12:57:25 PM

Quote from: ?? on ??

I think while the price of Ethereum tends to 2000 dollars, we will not see below 70 Gwei, more favorable conditions will be if the price of Ethereum drops to 1000 dollars.

That also valid but before the main factor of high gas Fee from my opinion it's because DeFi and now it's not on hype again, Basically last 3 day The Gas Fee was really low and it was on Bullish state, It's stable around 60-70 Gwei especially on UTC Midnight Time, Not sure about today but i'm really sure it will low again.

I started to rejoice about the low gas price, but it went up again and already 180 Gwei. Monday morning I will test my theory, see if it is below 70 Gwei.

OcTradism

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Quote from: Rengga Jati on March 10, 2021, 06:37:29 PM

The transfer fee on the Ethereum platform for ERC20 is very high, although we only transfer small token values. the fee is so high.

Transaction fee on ERC-20 chain depends on Gas price you use and the smart contracts. Swap on decentralized finance (DeFi) often has very high fees cause by smart contract. With same Gas price, you will get cheaper transaction fee if you move your ETH, not ERC-20 tokens. If it is swap, fees will be higher.

Quote from: Yamifoud on March 10, 2021, 06:45:40 PM

Huge fees are really disappointing but not I think this will be the reason why we have to leave and forget ETH. This will be resolve soon, the team is working on it patiently and we have to give them the support they need. Because the success of their plans is the success of everyone. If we have bothered too much with the fees, it might be good not to withdraw it this time.

No one abandon bitcoin blockchain forever only because of temporary high transaction fees. Bitcoin and Ethereum are two biggest blockchains and the movement out of ERC-20 chains won't last long. They will come back to ETH blockchain soon. The higher the total hashrate on the network, the more safety from that blockchain for transactions.

Bitcoin and Ethereum have biggest total hashrates in crypto.

Yamifoud

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Huge fees are really disappointing but not I think this will be the reason why we have to leave and forget ETH. This will be resolve soon, the team is working on it patiently and we have to give them the support they need. Because the success of their plans is the success of everyone. If we have bothered too much with the fees, it might be good not to withdraw it this time.

Rengga Jati

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Quote from: DaC0nsumeR on February 25, 2021, 09:03:41 PM

What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?

The transfer fee on the Ethereum platform for ERC20 is very high, although we only transfer small token values. the fee is so high.
If this always happens and no problem solving about this transaction fee, maybe someday, many new projects will use other platforms that are faster, more affordable, and also lower fees in order to support the user's easiness.
Now, it comes to TRX, ADA, Polkadot, and also Binance. They are real competitors

dhemasm

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Quote from: ?? on ??

I think while the price of Ethereum tends to 2000 dollars, we will not see below 70 Gwei, more favorable conditions will be if the price of Ethereum drops to 1000 dollars.

That also valid but before the main factor of high gas Fee from my opinion it's because DeFi and now it's not on hype again, Basically last 3 day The Gas Fee was really low and it was on Bullish state, It's stable around 60-70 Gwei especially on UTC Midnight Time, Not sure about today but i'm really sure it will low again.

LastKiss

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Quote from: Zurcermozz on February 25, 2021, 09:22:40 PM

ETH gas fee became high because of it's current price, the fee increases it's value as the eth price increase. Not planning to promote, but many people said that ADA(Cardano) is trying to do something to replace ETH.

Beside of it's current price there's another reason why the gas fees is high that because many people use ETH tokens to transfer from their wallet to other wallet and so on, so there's a lot transaction to process.. more people use ETH and it's token more fees we get. You can choose TRON for example to get low fees

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