ETH high gas fee - page 19. | Bitcointalksearch.org

bryant.coleman

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Quote from: mdzahed134 on February 17, 2021, 12:29:09 PM

It was November 2020 when 6$ gas fee for fast transaction but what happened today at the moment for lower gas fee is 40$ WTF! What's going on such crazy Etherum Network Fees. I just sent 0.01 ETH from Binance to my ETH wallet but i got 0.005 ETH that means 50% network fee even though i can't transfer a token for minimum 40$ fees in myetherwallet.

This is really bad. I still remember the situation we had in 2018 and 2019, when the average transaction fee was around $0.10. It has increased by almost 200 times in two years. The worst affected are those bounty hunters, who need to pay a fortune to move their tokens to exchanges. BTW, I am curious to know what happened to the claim that ETH 2.0 will reduce the gas fee. ETH 2.0 was implemented many months back, and I am yet to witness any decrease in the transaction fee. I could notice an increase on the other hand.

DU18

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in fact looking at these values i can only say that we have gone mad more than 3 $ for a slow transaction is unthinkable i, like many others i think, am looking for other alternatives / blockchains to operate on such as tron, eos, bnb at least until the eth miners come back to reason

Currently, the cost of fees in making transactions is quite expensive and even the increase occurred 100% from a few months ago and the main effect that caused transaction costs to rise seems to be the result of the increase in ethereum prices which have now reached ATH and of course on the one hand as a bounty hunter we feel happy if the eth price continues to increase and on the other hand it can also become a burden with the increasing costs we incur in making transactions in the market.

mdzahed134

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Quote from: VolkoB on November 26, 2020, 04:33:17 AM

When will this madness end?
Who is willing to pay such amounts for a transaction?

It was November 2020 when 6$ gas fee for fast transaction but what happened today at the moment for lower gas fee is 40$ WTF! What's going on such crazy Etherum Network Fees. I just sent 0.01 ETH from Binance to my ETH wallet but i got 0.005 ETH that means 50% network fee even though i can't transfer a token for minimum 40$ fees in myetherwallet.

heztida3

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Gas costs brought about for ETH exchanges, which are among the greatest expenses presently caused, were a while prior.Don't have a clue when this closures, similar to it or not in the event that you make an exchange with ETH that is the danger you acknowledge.Everybody whines about the fumes gas, simply trust everything gets back to business as usual as regular at ordinary costs, that is everything I can say, can't do a lot.

TopTort777

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Ethereum network charges $20 fee to transfer an ERC-20 token. It's really pathetic to see the current gas fees is really high to process the bounty rewards thousands of participants. We have no clue when this things comes under our control. I guess, there no solution near soon.

But this is just a balance. If Ethereum price hasnt go up to 1800 $, the fees would also be low. It is just strange to expect altcoin price to rise and the fees remain the same. Want to see cheap transaction fees - ignore Ethereum as a blockchain and drop its price to what it was Summer 2020, while waiting for Ethereum 2.0 to start working in full power. I see no other options right now to get cheap Ethereum transactions. As to bounty - offer projects to pay in USDT using Tron Network or simply skip all ERC20 bounties.

Willitivity

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Quote from: VolkoB on November 26, 2020, 04:33:17 AM

When will this madness end?

Maybe when eth stop pumping and dumps real hard or maybe as soon as eth 2.0 is launched which as at this time writing this post no one has a clue when it will be fully launched so it seems like we will have to deal with this high gas for a very long time, it's really bad that small investors can't even partake in any IDO or even transfer tokens from your wallet to exchange, this needs to be fixed before eth breaks the $2k target, you can't expect people to pay $50 for a $30 transaction.

Quote

Who is willing to pay such amounts for a transaction?

Large investors will pay any fee given to them, they don't care how high it is they would pay to make sure their transaction is successful unlike the people who can't afford the gas fees

goinmerry

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If the amount you are transacting is less than or equal to $200, don't transact for now. It's worth taking this high fee as priority fees for above $200 transaction. For Uniswap, make it a minimum of $300, as the fees here are more insane, compare to ERC20 transfers.

This is what people don't understand before and just hoping that ETH price will increase in the future. They think gas fees will still the same as usual. No choice but to wait for good changes once ETH 2.0 commence. Let's use alternatives for now.

MishaSER

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Quote from: TopTort777 on February 15, 2021, 04:53:32 PM

It might sound crazy, but situation with high transaction fees seems to be improving little bit. I havent seen today fees higher than 200 gwei. I've also noticed a 80 gwei price this morning for a normal speed transactions, while usually at that time prices were 120+ (even on weekends). Not to mention Ethereum price remained above 1800 usd. What do you think about it? For the whole day, fees were lower than usually!

Do you see the gas price of other tokens? It has practically not changed, the worst thing is Uniswap and other analogues. Yes, we are ready to pay 80-120 gwei, but for tokens it is completely different. We need an alternative, now there are projects that are engaged in this, I hope they will solve the problem with gas.

TopTort777

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It might sound crazy, but situation with high transaction fees seems to be improving little bit. I havent seen today fees higher than 200 gwei. I've also noticed a 80 gwei price this morning for a normal speed transactions, while usually at that time prices were 120+ (even on weekends). Not to mention Ethereum price remained above 1800 usd. What do you think about it? For the whole day, fees were lower than usually!

Fivestar4everMVP

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Ethereum fees is very crazy, and looking at the screenshots the op posted, I guess the high fees are even worster that it used to be in 2020, atleast, in the year 2020, I remember I used to pay 7 or 8 usd for a transaction, but now, the lowest for erc20 tokens are 12 usd which on the majority cases, it's always far higher than that.
But I still believe a solution is on the way though.

BayAngelo

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i think there are alternatives and developers and investors are considering that. the BSC and heco chain are already making massive gains. Avalanche recently launched an EVM platform to bridge the gap for ethereum high fees. do not be left behind. join the moving train and move away from ethereum before you got burn by the gas fees that is incontrollable.

MUG1WARA

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As long as ethereum is still over $1500 this craze will continue and will to make small traders cry for not being able to sell their tokens, I also feel that if DEX exchanges take advantage of opportunities like now by charging users unreasonable fees

Moeda

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Quote from: VolkoB on November 26, 2020, 04:33:17 AM

When will this madness end?
Who is willing to pay such amounts for a transaction?

Yes. This is a complaint of all Ethereum users, and Ethereum smart contract users. The fees for sending tokens are certainly higher compared to sending Ethereum. The fees for Uniswap are insane. There is no solution except to switch investments, or use a Centralized exchange.

oscarftw

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Quote from: VolkoB on November 26, 2020, 04:33:17 AM

When will this madness end?
Who is willing to pay such amounts for a transaction?

Ethereum transaction cost was higher than your painful time. Over 40-60 USD of Ethereum cost I have to pay on (Decentralized) Idex exchange. Although Cartesi project is trying to solve this Ethereum cost problem. The biggest problem is failed transactions. Still, I can remember that 7 USD cost me for a failed transaction.

Stedsm

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It's uniswap and other major DApps which are ridiculously charging their users with high fees and even paying it to the network in order to get their transactions included in the Eth blocks at first and this has made Eth gas fees a pain in the ass, which is why I prefer using other networks like BSC and TRC in order to save fee but our bad that we don't see some great projects happening over these networks yet while there are many projects coming over Polkadot and uniswap and for that, we need Eth only. I remember one of my friends claiming that he paid over $50 to get his $1000 transaction into the next block, still he waited for 10 minutes and those 10 minutes costed him in a loss of $100 as the price of that token quickly spiked up over 10% in which he wanted to invest at that time.

Jocuserious

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It's very easy thinking because ETH price going to up lot of so gas fees increased everyday. Do you know gas price up or down everytime so you should get low gas opportunity if you want transaction. I have been spend many asset for gas because everyday i need transaction token. Basically if you can hold your token in exchange wallet then you can avoid this fees problem.

budi12

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Quote from: VolkoB on November 26, 2020, 04:33:17 AM

When will this madness end?
Who is willing to pay such amounts for a transaction?

for high transaction fees that have often occurred on the ethereum platform but not as high as it is today. and we can't do much to change this. the only thing we can do is replace another platform for our altcoin transactions to avoid high transaction fees.

Zeehaxan

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Quote from: VolkoB on November 26, 2020, 04:33:17 AM

When will this madness end?
Who is willing to pay such amounts for a transaction?

Yes the issue with gas and transaction costs is horrible but as we are in a bull trend most people are just buying/investing for holding to see multifold gains and profits so i think at this point not a lot of community is actively trading so most are not effected with high fee because they are just holding.

adamvp

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Defi. Ethereum price increase. Dex trades with high transaction volume. These are the factors that make the current transaction fees on Ethereum quite high. we must be wiser before making transactions. I myself tried to calculate the transaction fee in my wallet for sending tokens. That's over 10 $ almost 10% of the estimated value of the asset I will send. of course this is very detrimental for users who make transactions in small amounts

Things changed so quickly as Ethereum gas cost skyrockets. Do you believe that yesterday I made erc20 token transactions with cost $20, this is ever highest fees I ever used. I think the present situation is extremely unfavorable for sending tokens and small users are passing a horrible situation.

20 usd is not so much, I had to pay over 40USD fee few times for token transactions.

Many projects are moving to Binance chain now (I think it is one of the reason of recent BNB price pump)

VanDeinsberg12

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Quote from: ARTCOINSLV on February 09, 2021, 01:11:36 PM

"ETH high gas fee"
Vitalik promised to make transaction fees low, but the opposite happened.
At the end of February, I will need to withdraw Dego tokens, but I do not have ETH, sadly.

The ETH 2.0 taking places gradually it's not like the upgrade will be done overnight but they have the solution to the fee increase for sure as such are sharding and side-chain as layer 1 and layer 2 but maybe will be fully implemented in the end of 2021.
Also, some people said to make ETH transaction when it's midnight in the US time because at that time fee decrease due to lower transactions in blockchian but idk whether that's true or not.

Topic: ETH high gas fee - page 19. (Read 23741 times)