Topic: ETH Gas transactions price is about to hit 300 (Read 1143 times)
At present the price of Ethereum transaction gas is very high. In doing so we are facing many difficulties which are never desirable. Cryptocurrency is worth a lot of its time, but the amount of time it takes to transact due to gas price is costly. So ethereum needs to solve this problem as soon as possible.
The gas fee is actually overwhelming, I haven't been able to do any transactions for now, even the little one I wanted to do was been charged as high as $12, I just had to cancel it. And pray the transaction price normalizes fast cos I wonder what will happen to majority with the way the ETH price is going
At present the price of Ethereum transaction gas is very high. In doing so we are facing many difficulties which are never desirable. Cryptocurrency is worth a lot of its time, but the amount of time it takes to transact due to gas price is costly. So ethereum needs to solve this problem as soon as possible.
Read an interesting interpretation that the bull run is sustaining because of the high gas price and transactions prices as the users are not able to withdraw from exchange.
i know its sound crazy but its really happend to ETH when i try to send my 0.01 eth to gambling website, im getting shock when see the ethereum gas price is about hitting 300 , currently if you want to get confirmed faster with ETH chain, you need to use 275 GWEI for your transactions is getting confirmated in 2 minute, tell me what are you gonna do with your ETH if you hold some, are you gonna sell and move to other altcoin like in 2017 when smartcontract are very popular with the kitty on ethereum chain?.
dont you think we are on same situations as 2017-2018 when the gas for eth is high people start move to litecoin & dogecoin which have small fee and the both coin getting very pump.
stop ETH transactions and whatever if the gas fee is very expensive, if I want to withdraw my funds on the exchange, I will convert it to XLM because it is cheaper for the withdrawal fee, the withdrawal fee on the exchange is also very expensive when using ETH dont you think we are on same situations as 2017-2018 when the gas for eth is high people start move to litecoin & dogecoin which have small fee and the both coin getting very pump.
I personally would move my funds to dogecoin or any other project Inorder to save costs especially when transferring from an exchange. The transaction fee for ethereum is way too high and I would rather wait for the transaction fee to drop than send on 300gwei. That's over $10, and it's not convenient for me. I wish this issue with ethereum could be resolved sooner.
So you did move your funds to dogecoin or didn't you have eth in the first place?I don't see how this issue could be solved at the moment at all, we managed to struggle through btc's high fees and long ass transactions for years.
Now we witness this eth boom for several months and whining already - that is not fair. Moreover, eth is going to update itself to eth2.0 one day, but there won't be btc2.0 ever again for comparison.
Well, it can't be helped because currently there are many transactions in DeFi platfrom that using uniswap or usdt.
Unless they using the gas fee lower, we cannot using low gas fee because if we using low gas fee, the miner won't give priority to our transaction.
Converting to other coin in exchange before withdrawing is the best option i guess.
Unless they using the gas fee lower, we cannot using low gas fee because if we using low gas fee, the miner won't give priority to our transaction.
Converting to other coin in exchange before withdrawing is the best option i guess.
I personally would move my funds to dogecoin or any other project Inorder to save costs especially when transferring from an exchange. The transaction fee for ethereum is way too high and I would rather wait for the transaction fee to drop than send on 300gwei. That's over $10, and it's not convenient for me. I wish this issue with ethereum could be resolved sooner.
Just talked to one of my friends, who is stuck with $20 worth of tokens that he received from a bounty campaign. He want to convert the tokens to ETH or USDT, and has already gone through the tedious KYC procedure in the exchange. But now he is saying that he can't deposit the tokens in the exchange wallet. The gas fee, plus the deposit fee would eat away all his capital.
He might find someone trusted that has same tokens, send his tokens to him (or receive same tokens). After that they might send total number of their tokens and “divide deposit fee” among two of them. Usually, deposit fee is a constant number of tokens, not % of deposited amount. With this method, his deposit fee would be 1/2 of he might have paid. Find more people and decrease deposit fee for everyone.
Just talked to one of my friends, who is stuck with $20 worth of tokens that he received from a bounty campaign. He want to convert the tokens to ETH or USDT, and has already gone through the tedious KYC procedure in the exchange. But now he is saying that he can't deposit the tokens in the exchange wallet. The gas fee, plus the deposit fee would eat away all his capital.
This is the reason why ethereum must move faster in migrating to PoS from PoW to make their network scalable.
With the rise of DeFi projects, where many uses the ethereum blockchain for smart contracts, there is a great increase in number of transactions. This same scenario also occured back in 2017 with the rise of ethereum based ICOs.
If this continues, many projects might choose to migrate to other blockchains which has a better transaction speed and lower fees compared to ethereum.
With the rise of DeFi projects, where many uses the ethereum blockchain for smart contracts, there is a great increase in number of transactions. This same scenario also occured back in 2017 with the rise of ethereum based ICOs.
If this continues, many projects might choose to migrate to other blockchains which has a better transaction speed and lower fees compared to ethereum.
I have also experience that one when I tried to transfer my tokens in an exchange from my MEW account it is asking me for a much higher gas that cost me higher eth. I think they really need to make a real quick move right now and start addressing the crypto enthuasiasts problem or else it will be their lost because it will make many people change different platform/blockchain that cost them small fee.
I also feel it, the ETH gas is too big which makes it a bit difficult for me to make transactions because most of the altcoins are made on ETH blockchains so this has a big impact for mecurrently I have switched from ETH and use LTC for transactions because the fees and transaction speeds are better than current ETH blockchains
I have also experience that one when I tried to transfer my tokens in an exchange from my MEW account it is asking me for a much higher gas that cost me higher eth. I think they really need to make a real quick move right now and start addressing the crypto enthuasiasts problem or else it will be their lost because it will make many people change different platform/blockchain that cost them small fee.
This action is surprising with what ethereum is doing, although I see that there has been a slight change if we send ethereum from metamask, but for other tokens I haven't seen any changes in gas, which is still high. why not doing it all at once but seemingly stalling with other alternatives. this will certainly do a lot of harm. 
I have also experience that one when I tried to transfer my tokens in an exchange from my MEW account it is asking me for a much higher gas that cost me higher eth. I think they really need to make a real quick move right now and start addressing the crypto enthuasiasts problem or else it will be their lost because it will make many people change different platform/blockchain that cost them small fee.
The cost of gas fees these days are very high and I think this is mainly due to high gas fees that are paid on uniswap by defi token holders who are constantly increasing their tx fees so that their transactions are confirmed fast enough. However, I think this is really nothing much to complain about as this is very cheap as compared to fees that are paid when transacting through banks. Transacting through cryptocurrencies is always cheaper and faster than fiat.
The high cost of eth GAS is most likely due to the influence of rising ethereum prices itself. I have observed, before or when ETH prices were in the range of $ 200 - $ 240 ETH gas was still cheap & while when ETH prices were in the range of $ 400- $ 430 it made eth GAS even more expensive.
maybe millions of people have realized that this increase in the price of Ethereum gas was caused by the increase in the price of ethereum itself. Recently BTC prices have moved significantly, even having a positive impact on the prices of some of the top altcoins including ETH. And maybe this is what makes ethereum gas expensive.
YES! ETH Gas transactions price has gotten crazy recently. Been like this for a few weeks, i haven't done anything for a few weeks either. It's all about the hype, however it's not a good thing. 
My transaction is pending for about 4 days now as I put 60 Gwei. It was later I realized that the gas price had increased but I was sending only 10 tokens 
I cannot send more transactions as it depends on this transaction and via Ledger Nano, I can't even cancel the transaction. I just hate ETH txs now as BTC was better and plus there are free accelerators for pushing transactions. ETH txs need $10 as fee for even small txs.
I cannot send more transactions as it depends on this transaction and via Ledger Nano, I can't even cancel the transaction. I just hate ETH txs now as BTC was better and plus there are free accelerators for pushing transactions. ETH txs need $10 as fee for even small txs.
I have never used the nano ledger to store cryptocurrency, but have you ever tried to access your nano ledger from my etherwallet and made one transaction using the same nounce as the transaction value of 0? You can cancel a pending transaction by doing it, i hope you could acces your nano from MyEtherWallet, i think that webwallet has such functions that you can write the nounce manually.
maybe millions of people have realized that this increase in the price of Ethereum gas was caused by the increase in the price of ethereum itself. Recently BTC prices have moved significantly, even having a positive impact on the prices of some of the top altcoins including ETH. And maybe this is what makes ethereum gas expensive.
I don't understand what you are trying to say, but I think that Ethereum prices are going up due to the current Defi trend, and the gas increasement is because the Dex Name Uniswap has using very high fee on ethereum networks.
maybe millions of people have realized that this increase in the price of Ethereum gas was caused by the increase in the price of ethereum itself. Recently BTC prices have moved significantly, even having a positive impact on the prices of some of the top altcoins including ETH. And maybe this is what makes ethereum gas expensive.
xDai (STAKE) will appear when u say that . amazon is going to release an app and its name is BlockScout . They anounced to will use xDai technologies on it also POA too . Its not a partnershipment . here is the article ;
https://aws.amazon.com/tr/blogs/awsmarketplace/build-and-monitor-custom-ethereum-tokens-with-blockscout-from-aws-marketplace/
https://aws.amazon.com/tr/blogs/awsmarketplace/build-and-monitor-custom-ethereum-tokens-with-blockscout-from-aws-marketplace/
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