Pages:
Author

Topic: ETH gas fees are a joke. - page 3. (Read 1170 times)

sr. member
Activity: 2128
Merit: 259
SOL.BIOKRIPT.COM
May 06, 2023, 01:09:06 PM
No It’s not like jokes because ETH Gas fees always higher than others chain and eth one of the best strong chain that's why still now many people’s like eth and always going to transaction as well but i hope need to reduce eth gas fees and sometimes also facilities low gas fees just need to know when current time for low gas fee it’s good idea.
But you can equally choose the tracking moment when the transaction fee is minimal. Of course, with such a fee value, the desire to use the main ether network disappears. It is easier to overtake tokens over the bridge into Optimism or into the Arbitrium. It is at least less fees. But this is if the volume is normal, I think a trifle is not profitable to send through the bridge.
even bridging gonna costs you more than just transfering your token, there's no way out, if you've already got token in ethereum, you can only transfer from there and maybe to some exchanges to avoid fee, swapping is definitely worst idea right now.
Swap is always expensive,i have an experienced in UniSwap exchange where i spend 100$+ transaction fees in 600$ worth of tokens when there was no way to reduce it. I stopped using Eth network for the long time ago, but sometime i can't avoid it, because of my several favorite coins are developed only Ethereum network.
member
Activity: 468
Merit: 13
May 05, 2023, 07:11:06 AM
So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

I've just converted most of my ETH to BTC, and have $0.5 left in metamask. It claims to have an "advanced gas control" when you hit Send, but it's not showing me that.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?
I have the same problem. What is the point of the Ethereum 2.0 update? This will frustrate retail investors. What you can do is do the L2 transactions rather than using the L1 transactions.
newbie
Activity: 28
Merit: 1
May 05, 2023, 06:32:42 AM
You can try Polkadot instead of ETH. Polkadot is developed by Gavin Wood, he's very experienced. Polkadot can maintain a good position currently, where it has a good base to start growing once needed.
Polkadot is already developed very far compared to new projects because Gavin Wood has experience from ETH and now tries to build a solid coin, Polkadot.
switching over to alternative blockchain is easy, but what if the token and dapps that's available in eth didn't make their multi chain alternative and deploy their smart contract in something like polkadot it will be absolutely useless then, I think that's not good idea, if it's selecting alternative blockchain layer 2 will always be better.
It will take a time for project to be upgraded to new technology.
And many Altcoins have support of Ethereum.
Such coins, you can send easyli to an Ethereum address, Sir.

About DeFi application, it is a different issue but DeFi is also very high risk, Sir.
Ethereum is too slow still.
legendary
Activity: 2296
Merit: 1038
Leading Crypto Sports Betting & Casino Platform
May 04, 2023, 07:42:47 PM
It is undeniable that the transfer fee for the Ethereum network is very high. It hasn't entered the bullish era yet, but the cost of ethereum gas fees has increased dramatically. Tomorrow you can figure out how much gas the Ethereum network will cost when it enters the bullish era. That must be very annoying because it will definitely go up again at a very high cost.

On the one hand, the problem of expensive gas costs is an alternative way to burn the available amount of ETH supply, as we know that ETH supplies are not limited but they are used more by many projects so that the value continues to be more expensive, but apart from that there are also many a project that makes another alternative with Layer 2 to help with that problem, Ethereum hasn't really become a solution to be used by small users, most of them are rich users who burn tens of dollars just for transaction fees and I'm sure many millions of dollars every day burned for it. sad but strangely those people are still using EThereum

I think people should switch to blockchain networks which are cheaper in transaction fees because it helps cut spending on crypto transactions. My advice is to transact using ETh preferably on weekends because gas costs usually go down because there are not many transactions on that day.  Wink
hero member
Activity: 2324
Merit: 504
May 04, 2023, 07:34:13 PM
You can try Polkadot instead of ETH. Polkadot is developed by Gavin Wood, he's very experienced. Polkadot can maintain a good position currently, where it has a good base to start growing once needed.
Polkadot is already developed very far compared to new projects because Gavin Wood has experience from ETH and now tries to build a solid coin, Polkadot.
switching over to alternative blockchain is easy, but what if the token and dapps that's available in eth didn't make their multi chain alternative and deploy their smart contract in something like polkadot it will be absolutely useless then, I think that's not good idea, if it's selecting alternative blockchain layer 2 will always be better.
newbie
Activity: 28
Merit: 1
May 04, 2023, 07:23:18 PM
You can try Polkadot instead of ETH. Polkadot is developed by Gavin Wood, he's very experienced. Polkadot can maintain a good position currently, where it has a good base to start growing once needed.
Polkadot is already developed very far compared to new projects because Gavin Wood has experience from ETH and now tries to build a solid coin, Polkadot.
hero member
Activity: 2184
Merit: 513
Moonbet.io | Web3 Casino
May 04, 2023, 07:15:58 PM
[...]
this is true, the high gas fee caused by the fact that ethereum has really high value, not because their gwei is high, even at really low gwei it still costs a lot, really unfortunate.
Let's see the current gas as of this writing,

Lowest - 106 gwei
Average - 106 gwei
Highest - 110 gwei

That's high and not just because ETH valuation has increased. I've seen lower gwei at the same price in USD. Let's just accept the fact that it still couldn't handle the high traffic so the headache of transferring ETH and ERC-20 tokens remains.
seemed right, eth gas fee so expensive because it couldn't handle the traffic, its scalability is just really bad, also the gwei required for transaction each block varies a lot, it sometimes only 15 and it sometimes require 110 like what you wrote, and the funny thing is that, many people are still willing to pay such fee just for the sake minting of some useless nft.
sr. member
Activity: 1526
Merit: 412
May 04, 2023, 11:41:14 AM
[...]
this is true, the high gas fee caused by the fact that ethereum has really high value, not because their gwei is high, even at really low gwei it still costs a lot, really unfortunate.
Let's see the current gas as of this writing,

Lowest - 106 gwei
Average - 106 gwei
Highest - 110 gwei

That's high and not just because ETH valuation has increased. I've seen lower gwei at the same price in USD. Let's just accept the fact that it still couldn't handle the high traffic so the headache of transferring ETH and ERC-20 tokens remains.
hero member
Activity: 2296
Merit: 506
Cryptocasino.com
May 04, 2023, 10:02:05 AM
I mean the alternative blockchain like BNB, Tron and others are cheaper however ETH moved to Proof of Stake so the developer working on the switching process but it didn't solve the problem completely cause the gas fee of ETH is still high but lower when comparing with PoW however it's too high to do make transfer in day to day life.
those alternative blockchain usually just didn't cut it because rarely some rather smaller scale coins deploying their erc20 tokens in various blockchain at best they'd just deploy it in layer 2.
so definitely there's reason why eth still being used so massively and frequently despite having some alternative blockchain because many tokens that are active still there.
member
Activity: 468
Merit: 13
May 04, 2023, 07:45:45 AM
So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

I've just converted most of my ETH to BTC, and have $0.5 left in metamask. It claims to have an "advanced gas control" when you hit Send, but it's not showing me that.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?
I think it is due to more users, those who hunt airdrops making transactions again and again. In the Ethereum network, if you have more users, then it will congest the network.
hero member
Activity: 2310
Merit: 757
Bitcoin = Financial freedom
May 04, 2023, 07:39:47 AM
Possibly this is the solution but I haven't used metamask for long time and even when I use I generally use the high priority because I don't like to wait too long which makes me frustrated. Anyhow even with ETH2.0 the problem still exists which is kind of worry for the future of ethereum because the alternatives are offering lower transaction time and fee but decentralisation is the only difference if I am not wrong.
Well i was answering to OP and OP was using metamask. Also i am not sure what you mean by "ETH2.0 problem" or what alternatives are you talking about. You can always use Layer 2 options like Polygon or Arbitrum as they run of ETH so you don't need to use more centralized blockchains. If you are sending wrapped eth, or any token really.
I mean the alternative blockchain like BNB, Tron and others are cheaper however ETH moved to Proof of Stake so the developer working on the switching process but it didn't solve the problem completely cause the gas fee of ETH is still high but lower when comparing with PoW however it's too high to do make transfer in day to day life.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
May 03, 2023, 10:48:30 PM
What do you mean miners? its a POS now and not in POW so it must be cheap and scaled now like other L2 but this is not guaranteed as eth still suffers from network congestion especially if you interacting in 2or more contracts at the same time, eth for now still need many improvements to cater more demands.

PoS didn't have a positive effect on gas fees due to high network congestion. We can blame Vitalik Buterin for making ETH an "all-in-one Blockchain". Both smart contracts and accounts are running on the main ETH blockchain. It would've been best to separate contract deployment and/or execution from the main chain to avoid any bottlenecks in the long run. Now it's too late, as fees are rising like there's no tomorrow. Danksharding needs to be implemented fast for on-chain fees to decline by a large rate. Otherwise, we'd be stuck with L2 (off-chain) scaling solutions and alternative Blockchain networks that are centralized and unreliable (especially Solana).

Consider how Bitcoin's TX fees have been rising due to the Ordinals NFT craze. Would you imagine BTC being used for other things like domain name registration and tokens? It would add more burden to the Blockchain, resulting in higher fees and longer wait times. Let's hope ETH scales fast before other chains "eat its cake". Just my opinion Smiley
hero member
Activity: 2772
Merit: 524
Leading Crypto Sports Betting & Casino Platform
May 03, 2023, 08:02:55 PM
It is undeniable that the transfer fee for the Ethereum network is very high. It hasn't entered the bullish era yet, but the cost of ethereum gas fees has increased dramatically. Tomorrow you can figure out how much gas the Ethereum network will cost when it enters the bullish era. That must be very annoying because it will definitely go up again at a very high cost.

if it entered bullish era the fees will become absymal and that's for sure. even right now swapping in platform like uniswap requires $30 which is crazy, i always reminded of the fact that in its competition that is bsc the fee was normal, only require less then a dollar, then in ethereum it's really high, i wonder how much the gaps of traffic between the two, is it that much difference that the fee could be really far from each other.
even layer 2 like arbitrum are just making things worse from my 2 cents, their batch submitter contract and sequencer are so active, that I wonder if things will get better or worse.
hero member
Activity: 2268
Merit: 507
May 03, 2023, 07:28:21 PM
No It’s not like jokes because ETH Gas fees always higher than others chain and eth one of the best strong chain that's why still now many people’s like eth and always going to transaction as well but i hope need to reduce eth gas fees and sometimes also facilities low gas fees just need to know when current time for low gas fee it’s good idea.
But you can equally choose the tracking moment when the transaction fee is minimal. Of course, with such a fee value, the desire to use the main ether network disappears. It is easier to overtake tokens over the bridge into Optimism or into the Arbitrium. It is at least less fees. But this is if the volume is normal, I think a trifle is not profitable to send through the bridge.
even bridging gonna costs you more than just transfering your token, there's no way out, if you've already got token in ethereum, you can only transfer from there and maybe to some exchanges to avoid fee, swapping is definitely worst idea right now.
hero member
Activity: 2282
Merit: 505
May 03, 2023, 07:15:00 PM
It is undeniable that the transfer fee for the Ethereum network is very high. It hasn't entered the bullish era yet, but the cost of ethereum gas fees has increased dramatically. Tomorrow you can figure out how much gas the Ethereum network will cost when it enters the bullish era. That must be very annoying because it will definitely go up again at a very high cost.

this is true, the high gas fee caused by the fact that ethereum has really high value, not because their gwei is high, even at really low gwei it still costs a lot, really unfortunate.
full member
Activity: 1498
Merit: 132
BK8 - Most Trusted Gambling Platform
May 03, 2023, 06:08:40 PM
It is undeniable that the transfer fee for the Ethereum network is very high. It hasn't entered the bullish era yet, but the cost of ethereum gas fees has increased dramatically. Tomorrow you can figure out how much gas the Ethereum network will cost when it enters the bullish era. That must be very annoying because it will definitely go up again at a very high cost.
member
Activity: 476
Merit: 12
https://imgur.com/1d0UcY0
May 03, 2023, 04:50:51 PM
No It’s not like jokes because ETH Gas fees always higher than others chain and eth one of the best strong chain that's why still now many people’s like eth and always going to transaction as well but i hope need to reduce eth gas fees and sometimes also facilities low gas fees just need to know when current time for low gas fee it’s good idea.
But you can equally choose the tracking moment when the transaction fee is minimal. Of course, with such a fee value, the desire to use the main ether network disappears. It is easier to overtake tokens over the bridge into Optimism or into the Arbitrium. It is at least less fees. But this is if the volume is normal, I think a trifle is not profitable to send through the bridge.
legendary
Activity: 2884
Merit: 1137
Leading Crypto Sports Betting & Casino Platform
May 03, 2023, 03:27:50 PM
Possibly this is the solution but I haven't used metamask for long time and even when I use I generally use the high priority because I don't like to wait too long which makes me frustrated. Anyhow even with ETH2.0 the problem still exists which is kind of worry for the future of ethereum because the alternatives are offering lower transaction time and fee but decentralisation is the only difference if I am not wrong.
Well i was answering to OP and OP was using metamask. Also i am not sure what you mean by "ETH2.0 problem" or what alternatives are you talking about. You can always use Layer 2 options like Polygon or Arbitrum as they run of ETH so you don't need to use more centralized blockchains. If you are sending wrapped eth, or any token really.
hero member
Activity: 2296
Merit: 506
Cryptocasino.com
May 03, 2023, 09:17:21 AM
What is the cheapest way to transfer the ETH now?
use layer 2 solution like optimism and arbitrum, of course if your eth already in homestead blockchain you'll definitely have no choice but just straight transferring with the high fee but you can always edit the fee.
hero member
Activity: 910
Merit: 508
May 03, 2023, 06:41:23 AM
What is the cheapest way to transfer the ETH now?
Pages:
Jump to: