ETH gas fees are a joke. - page 4. | Bitcointalksearch.org

ice18

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Quote from: Freddie Boyer on May 03, 2023, 12:45:28 AM

Quote from: NotATether on April 18, 2023, 01:36:08 PM

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.

This phenomenon has been running for a long time perhaps due to the current bottleneck on the Ethereum network especially for Ethereum miners to process their transactions and execute smart contracts. What is a layer 2 solution, which can help reduce the burden on the Ethereum network and lower gas costs in the future I haven't tried it yet because I'm mostly looking for more affordable eg Polygon or BSC Networks.

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.

Freddie Boyer

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Quote from: NotATether on April 18, 2023, 01:36:08 PM

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.

This phenomenon has been running for a long time perhaps due to the current bottleneck on the Ethereum network especially for Ethereum miners to process their transactions and execute smart contracts. What is a layer 2 solution, which can help reduce the burden on the Ethereum network and lower gas costs in the future I haven't tried it yet because I'm mostly looking for more affordable eg Polygon or BSC Networks.

smile1218

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Quote from: NotATether on April 18, 2023, 01:36:08 PM

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?

Yes, there are ways to lower the gas fee on metamask. You can try setting a lower gas price to see if it gets confirmed in a reasonable amount of time. Another one is to adjust the gas price manually when sending a transaction. You can try as well to use a tool like gas tracker to check the current gas prices and you can choose a time when the prices are lower. You may also try using different network with lower transaction fees. I hope this simple suggestions might help you to reduce gas fees.

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Quote from: trendcoin on May 01, 2023, 03:43:47 PM

Ethereum gas fees are a big problem, but there is a solution to this problem. The solution is to not use Ethereum.

Unfortunately we are in such a bad situation. Still, when I have to use Ethereum, I try to prefer Layer 2 solutions. When Layer 2 alternatives do not help me solve my problem, I transfer a little over the economically recommended gas gwei and get my job done. You know, failed transfers on the Ethereum network are also charged. That's why I want to secure my work a little bit. Unfortunately, Ethereum gas fees continue to exist in our lives as a joke that does not make us laugh.

even layer 2 are also gets affected by this ethereum increase in fee, after all these layer 2 also needs roll up basically submit batch transaction in the ethereum blockchain, i've seen most of l2 are increasing their fees yesterday when ethereum reaching its peak in which in this case basically still left ethereum problem fee unresolved but at least in l2 it's significantly less in term of increase in gas fee required compared with ethereum. but if you've observed all these l2 actually also caused massive transaction increase in ethereum blockchain which you could simply know by seeing their contracts which are generally quite active in ethereum blockchain.
judging from this I think we need more effective solution than just these l2 which still somehow depends on the ethereum blockchain and also becoming one of main reasons why the fee in ethereum is increasing so much.

lobo13hf

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Quote from: Quidat on May 02, 2023, 05:51:49 PM

We do understand that smart contracts is indeed revolutionary but having that huge gas fees? Nah i would really be
looking on another place to check on.

the problem with smart contract blockchain in general is that they always require so many transaction just for an action like swapping requires involvement of various contract which surely increase the gas fee needed for each action, but I think in this regard that won't be problem if the transaction of smart contract blockchain spread out evenly the thing is, right now ethereum got most of the transaction in its blockchain.

Quidat

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Quote from: Hypnosis00 on May 02, 2023, 04:53:17 PM

Quote from: trendcoin on May 01, 2023, 03:43:47 PM

Ethereum gas fees are a big problem, but there is a solution to this problem. The solution is to not use Ethereum.

Unfortunately we are in such a bad situation. Still, when I have to use Ethereum, I try to prefer Layer 2 solutions. When Layer 2 alternatives do not help me solve my problem, I transfer a little over the economically recommended gas gwei and get my job done. You know, failed transfers on the Ethereum network are also charged. That's why I want to secure my work a little bit. Unfortunately, Ethereum gas fees continue to exist in our lives as a joke that does not make us laugh.

It never helps at all. No other way to skip paying huge trx fees with ETH, it is absolutely disappointing but despite this situation, people had never given up and still using this. The only option I see is to transfer them in huge amounts just to save some gas wei rather than sending them in small amounts which also cost multiple transactions. I'd never see this situation turn back low but rather expect it to grow more.

In fact, I have had some bad experiences with this before, I taught setting on the lowest fee saves me but it turns out that it fails and I need to adjust my fee causing it to double my fees.

One of the shittest thing on the time i would really be making up some erc20 transactions specially on small tx is its gas fee which it is really that unjustifiable. I do agree on some points on here
on what the heck for ETH to remain on #2 if its gas fees are on the roof top? We do understand that smart contracts is indeed revolutionary but having that huge gas fees? Nah i would really be
looking on another place to check on.

I do want to touch up Erc-20 field when it comes to buying coins and token into those dexes but whats the main issue that i couldnt easily do it just because of the fees.
I cant really just take that much because im not some sort of whale who could afford $10-20-40 in terms of fees in every transaction.
This is why it would really be that worth that you should really be making out transactions in bulk so that you would be able to save up some gf.

Teraboy

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it's silly how swapping simple token in uniswap requires $20 nowadays, I still wonder why such massive activities in ethereum blockchain, even the L2 are now being affected by this increase in fee because the L2 also need to submit their transaction batch in ethereum blockchain which is kinda defeats the point of being l2 if also them requires massive fee.

Hypnosis00

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Quote from: trendcoin on May 01, 2023, 03:43:47 PM

Ethereum gas fees are a big problem, but there is a solution to this problem. The solution is to not use Ethereum.

Unfortunately we are in such a bad situation. Still, when I have to use Ethereum, I try to prefer Layer 2 solutions. When Layer 2 alternatives do not help me solve my problem, I transfer a little over the economically recommended gas gwei and get my job done. You know, failed transfers on the Ethereum network are also charged. That's why I want to secure my work a little bit. Unfortunately, Ethereum gas fees continue to exist in our lives as a joke that does not make us laugh.

It never helps at all. No other way to skip paying huge trx fees with ETH, it is absolutely disappointing but despite this situation, people had never given up and still using this. The only option I see is to transfer them in huge amounts just to save some gas wei rather than sending them in small amounts which also cost multiple transactions. I'd never see this situation turn back low but rather expect it to grow more.

In fact, I have had some bad experiences with this before, I taught setting on the lowest fee saves me but it turns out that it fails and I need to adjust my fee causing it to double my fees.

JANUS23

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I left the Ethereum game precisely because of that gas fee debacle. I'm not a whale and don't know how I can be wasting close to $20 trying to move just $50. Its just plain stupid

albon

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Quote from: NotATether on April 18, 2023, 01:36:08 PM

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?

Frankly, I am not a fan of the Ethereum network because of these expensive & joke fees, which represent a loss for every person who makes transactions on this network. The fees of the Ethereum network constitute the liquidity needed to carry out transactions, and they vary from time to time according to the supply and demand available in real-time. Because of the congestion of the network and its adoption by millions of investors, companies, and amateurs of NFTs, the network has become very crowded. Its fees doubled more than many years ago, so if it wants to do transactions with relatively low fees, choose the right time when the network is not busy and not crowded, and you must not adjust gas fees from your wallet because the transaction may fail if the fees are not appropriate and you will lose these fees without completing the transaction, or you can use other networks not based on Ethereum, and the fees are reasonable.

trendcoin

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Ethereum gas fees are a big problem, but there is a solution to this problem. The solution is to not use Ethereum. :) Unfortunately we are in such a bad situation. Still, when I have to use Ethereum, I try to prefer Layer 2 solutions. When Layer 2 alternatives do not help me solve my problem, I transfer a little over the economically recommended gas gwei and get my job done. You know, failed transfers on the Ethereum network are also charged. That's why I want to secure my work a little bit. Unfortunately, Ethereum gas fees continue to exist in our lives as a joke that does not make us laugh.

Abiky

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Quote from: JahriMeayer on April 30, 2023, 03:43:06 PM

No way at all. Even reducing fee from default setup, could make your fund stucked during this highly busy network. Although eth gas fee has reduced a lot if it is compared with previous years. but it is still suffer to give us the best transaction rate what bsc, matic, trx does. So we have to give such fee if we want to transfer tokens through this erc Network. That's why i already moved with bsc.

BSC and other alternative blockchains are not as decentralized and censorship-resistant as ETH is. You're basically sacrificing decentralization for low fees and faster transaction speeds. Rising gas fees on the ETH Blockchain, tells us that people are using it more frequently. There's no need to worry about this, especially when there are L2 scaling solutions for ETH. Or you can decide to wait until gas fees decline to make your move.

ETH developers will soon roll out a series of network upgrades aimed to improve on-chain scalability. Once that happens, high gas fees will only become history. As long as ETH remains decentralized, nothing else matters. Just my thoughts Grin

JahriMeayer

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No way at all. Even reducing fee from default setup, could make your fund stucked during this highly busy network. Although eth gas fee has reduced a lot if it is compared with previous years. but it is still suffer to give us the best transaction rate what bsc, matic, trx does. So we have to give such fee if we want to transfer tokens through this erc Network. That's why i already moved with bsc.

FahriZah

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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.

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Quote from: Godday on April 26, 2023, 05:21:31 AM

I am very disappointed with the performance of GAS fees in ETH. I do a lot of transactions with projects that make me have to use ETH but with a large fee, of course it will be difficult if I'm making small transactions. I mean how can a transaction value of $100 make me have to spend more than $10 in GAS? That looks like blackmail to me.

Why you not avoid eth network? You may come on bsc network for reducing gas fees. There are many project now allowing bsc network and old good project had on now. Eth network fees was lower but when ethereum price was lowing. Even now etherum price rising higher so how could expect low gas fees for eth network?

disconnectme

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To be sincere if you have small accounts there is no need to keep using Ethereum, the gas fees are too high for small accounts you will lose all your funds to transaction fees and also there is a chance of your transaction being sandwich, One of my transaction was a sandwich on Uniswap and I lost $1400 to this attack. I have decided to move to blockchain which is faster and with cheaper transactions. This issue can't continue the developers need to do something, all these burning and deflation shill to me won't save Ethereum with time

Oneandpure

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Current gas fees seems not stable and still expensive, usually when eth price going up not chance for lower fees with ETH transaction, last current faster gas fees on 50 GWEI and need spent above $8 until 15$ for each transaction swap on dapp exchange with ERC20 network. This weeks not any change with ETH gas fees because still expensive with ETH has stable on higher price, we are exciting when gas fees under 10 GWEI and spent 0,1$ for fees transaction. I can't claim with my airdrop coins reward with ERC20 network right now because have expensive fees transaction than coins worth, waiting next week and hope GWEI will drop under 20 and spent 5$ enough for gas fees transaction.

slashz9

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usually transaction fees go up due to congested network, you can wait until the network is not congested, but if you need it right away you are forced to send it.
this is one of the current drawbacks, if the cost-intensive increases, can the number of transactions not be increased to overcome problems like this.

libert19

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@op You should have waited a bit for PEPE hype to cool down.

Quote from: Ojima-ojo on April 18, 2023, 02:05:45 PM

I thought the so-called ethereuem network migration from proof of work to proof of stake will solve their network problems and to hear that ethereum holders still have to pay high gas fees for transactions is a show off of how the so-called proof of stake propaganda was a failed experiment.

That's misunderstanding. It was just transition, it didn't decrease gas fees, but it has created a platform for future enhancements that will lower the gas fees.

Read: https://www.blocknative.com/blog/will-the-merge-lower-gas-fees

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Quote from: Dessy88 on April 28, 2023, 12:42:19 PM

There are many new project taken bsc network so you should move on bsc network for reduce your transaction fees. Personally i totally kick out eth network and now i am very comfortably bsc network. Here is bsc network low transactions cost with super faster network. Even many good wallet have a opportunity to use bsc network.

I agree, the BSC network has lower transaction fees and higher network speeds compared to ETH, which makes it a better option for new projects. Honestly, I don't understand why ETH is so popular with such high fees. There are many blockchain platforms with very small fees but they are not in demand.

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