ETH high gas fee - page 2. | Bitcointalksearch.org

Veter2000

sr. member

Activity: 1512

Merit: 306

Quote from: Xampeuu on September 02, 2021, 12:33:19 AM

Quote from: ?? on ??

Quote from: Pulsar77 on September 01, 2021, 05:35:42 PM

Whenever the market is on the rise due to a rally or bull run, this absolutely happens. It is like there is no way out of this. People start demanding cryptocurrencies highly, they buy Ethereum and make transactions at a high rate. As a result, the network starts slowing down and here we go! There are high fees as a result of all this. They must do something about this frustrating problem. There must be a way to get rid of these high fees.

It's been there just like how you said it, every time that the market pumped up expect that
the transaction fees also increase.

Small traders/hodlers unable to process their trade due to this problem, tokens are stuck again
since no one in good set of minds that will throw away money for getting nothing.

still hoping for a longer solution for this concern, high fees needs to solve in anyhow.

We hope that all gas fees will go down soon, don't we want mass adoption of cryptocurrency? Therefore, newcomers with small capital will of course take into account the expensive gas costs, because their investment is reduced only because of transfer fees. I hope this problem can be solved soon

Unfortunately, it is not worth waiting for a drop in transaction prices on the Ethereum blockchain soon. Prices will drop when the ETH 2.0 blockchain is fully operational and after the merger. Vitalik Buterin openly warned about this back in the winter of 2020. A merger should be expected no earlier than in 5-8 months.

Xampeuu

full member

Activity: 1442

Merit: 116

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: ?? on ??

Quote from: Pulsar77 on September 01, 2021, 05:35:42 PM

Whenever the market is on the rise due to a rally or bull run, this absolutely happens. It is like there is no way out of this. People start demanding cryptocurrencies highly, they buy Ethereum and make transactions at a high rate. As a result, the network starts slowing down and here we go! There are high fees as a result of all this. They must do something about this frustrating problem. There must be a way to get rid of these high fees.

It's been there just like how you said it, every time that the market pumped up expect that
the transaction fees also increase.

Small traders/hodlers unable to process their trade due to this problem, tokens are stuck again
since no one in good set of minds that will throw away money for getting nothing.

still hoping for a longer solution for this concern, high fees needs to solve in anyhow.

We hope that all gas fees will go down soon, don't we want mass adoption of cryptocurrency? Therefore, newcomers with small capital will of course take into account the expensive gas costs, because their investment is reduced only because of transfer fees. I hope this problem can be solved soon

Sithara007

legendary

Activity: 3276

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: CryptoBuds on September 01, 2021, 05:57:21 PM

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.
Recently I figured out that nowadays it would be impossible to sell NFT tokens on OpenSea even if you have good valued tokens.
for $200 worth of NFT tokens will cost you $300 network fees in OpenSea when you post your item to the listing, which means you have to pay an extra $100 from your pocket to sell your token Tongue

.
I don't understand how these NFT projects can survive in the market even with such high gas fees in ethereum blockchain.

You need to take a decision. If you have $200 worth of tokens and of the fee is like $20 or $30, then I would recommend you to transfer them and book profit. Because these tokens are very volatile, and you never know when they will go down. So waiting for lower transaction fee may result in huge losses. But if the transaction fee is extremely high (you mentioned $300), then obviously it makes little sense to move these tokens. It is just crazy, isn't it? $300 in fee for a single transaction, and still there are guys who would defend the ERC-20 chain.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: CryptoBuds on September 01, 2021, 05:57:21 PM

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.

The hype was so high. People are rushing various NFT platforms at the same time. Remember when each of NFT transaction needs a few transactions in total for on tx. People are also putting more fees to prioritize their transaction to be included in the next block.

Quote from: CryptoBuds on September 01, 2021, 05:57:21 PM

Recently I figured out that nowadays it would be impossible to sell NFT tokens on OpenSea even if you have good valued tokens.
for $200 worth of NFT tokens will cost you $300 network fees in OpenSea when you post your item to the listing, which means you have to pay an extra $100 from your pocket to sell your token Tongue

.
I don't understand how these NFT projects can survive in the market even with such high gas fees in ethereum blockchain.

That's why so many platforms deciding to use second layer solution instead of still use ethereum.
Even like that, there are still many people selling NFT even if the fee required for NFT is really high, I think its because most of NFT owners are rich people. The big traders didn't care so much about how much they pay for the fees. that makes little shrimp feel depressed to use ethereum chain
Like those who own cryptopunk it was priced such a high amount and many of people still trying to own one of it. If they can pay for expensive cryptopunk NFT i think they can afford the fee even if it cost hundred dollars.

G-Money7777

copper member

Activity: 177

Merit: 2

One of the Main Reasons Opacity is looking to switch Chains.

Announced Harmony/Polygon Bridging.

Great Team, Great CEO, even Greater Potential to 40-60x

CryptoBuds

legendary

Activity: 2100

Merit: 1042

HODL

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.
Recently I figured out that nowadays it would be impossible to sell NFT tokens on OpenSea even if you have good valued tokens.
for $200 worth of NFT tokens will cost you $300 network fees in OpenSea when you post your item to the listing, which means you have to pay an extra $100 from your pocket to sell your token Tongue

.
I don't understand how these NFT projects can survive in the market even with such high gas fees in ethereum blockchain.

Princejebs

member

Activity: 560

Merit: 26

Quote from: bakasabo on September 01, 2021, 04:18:19 PM

Ethereum transaction fees are back to being high again and BSC cant handle it. When did Cardano planned to become an alternative to Ethereum?

This is redicilous situation with Ethereum. Low class cant afford to make a transaction. Bounty hunters can forget about rewards and small investors can forget about entering a project. And there is no solution to this. Great!

I'm getting discouraged anytime I come a Ethereum related contract because the first thing that always comes to my mind is gas fee, that thing is no longer funny.
I mean how do I swap a $20 token with a fee of $15 approval fee and $25 transaction fee, that sickening and wouldn't end well for me.
It's high time small project start making alternative to bsc but I learn Binance control all the nodes that's why developers avoid them.

Pulsar77

sr. member

Activity: 1834

Merit: 331

Whenever the market is on the rise due to a rally or bull run, this absolutely happens. It is like there is no way out of this. People start demanding cryptocurrencies highly, they buy Ethereum and make transactions at a high rate. As a result, the network starts slowing down and here we go! There are high fees as a result of all this. They must do something about this frustrating problem. There must be a way to get rid of these high fees.

swogerino

legendary

Activity: 3136

Merit: 1233

Top Crypto Casino

Quote from: bakasabo on September 01, 2021, 04:18:19 PM

Ethereum transaction fees are back to being high again and BSC cant handle it. When did Cardano planned to become an alternative to Ethereum?

This is redicilous situation with Ethereum. Low class cant afford to make a transaction. Bounty hunters can forget about rewards and small investors can forget about entering a project. And there is no solution to this. Great!

They did so to discourage mining by implementing the London hard fork as they are planning to move to PoS later in Ethereum 2.0 as the developers of Ethereum have said.This is having a little impact over that,it is turning away small investors to let stay only the big ones who most probably will be backers of the 2.0 PoS mechanism later.Personally I will switch to mining other coins when that happens but for now the best you can do is hunt the lowest fees which during the last few days have been 4 dollars or 50-60 Gwei in transaction fees.

bakasabo

legendary

Activity: 2436

Merit: 1207

Ethereum transaction fees are back to being high again and BSC cant handle it. When did Cardano planned to become an alternative to Ethereum?

This is redicilous situation with Ethereum. Low class cant afford to make a transaction. Bounty hunters can forget about rewards and small investors can forget about entering a project. And there is no solution to this. Great!

ILuckyGuyI

hero member

Activity: 2030

Merit: 402

Quote from: adibi12 on August 27, 2021, 12:41:33 PM

That is normal because nothing is free in the real world or in the crypto world, high gas costs will certainly facilitate everyone's transactions and of course that is a risk that we must accept, if we talk about when the high gas costs will end, of course no one will You know, because in the future, gas costs may go up or down.

Nothing is free in this world, it is true. However, high gas fees situation is not a normal thing I think. Because we, the investors deserve low fees while we are making transactions. When there are high fees, it is for the benefit of cryptocurrency miners. Investors are really fed up with this problem and demand a solution from the developers. ETH developers already made a statement like they would be working on this. We have no other option rather than waiting for it.

Veter2000

sr. member

Activity: 1512

Merit: 306

Quote from: adibi12 on August 27, 2021, 12:41:33 PM

That is normal because nothing is free in the real world or in the crypto world, high gas costs will certainly facilitate everyone's transactions and of course that is a risk that we must accept, if we talk about when the high gas costs will end, of course no one will You know, because in the future, gas costs may go up or down.

What is normal in today's gas prices on Ethereum blockchain? Uniswap suggested that today I approve a token for $ 20, the fact that binance smart chain costs less than a dollar and this is not swap fee itself. It turns out that those who conduct small transactions should pay more for the decentralization of the ETH network. That is, Ethereum network becomes a blockchain for the rich.

livingfree

hero member

Activity: 2884

Merit: 579

Hire Bitcointalk Camp. Manager @ r7promotions.com

This is crazy haha!

I'm trying to make a transaction and it's requiring me a totally high fee including the platform fee where I'm about to withdraw my tokens.

I don't know until when the fees will drop but I'm not going to make any transaction as of the moment.

ilovefeetsmell

hero member

Activity: 686

Merit: 510

Quote from: adibi12 on August 27, 2021, 12:41:33 PM

That is normal because nothing is free in the real world or in the crypto world, high gas costs will certainly facilitate everyone's transactions and of course that is a risk that we must accept, if we talk about when the high gas costs will end, of course no one will You know, because in the future, gas costs may go up or down.

Higher gas always depends on the price of our crypto so the best decision you can do is try to balance between the gas fee and your earnings. It is not always the gas fee, you can also considered your earnings when you are trying to invest or trade your assets.

If you think, it is not worth to trade so think twice and always remember that in crypto, there's no easy money. All of us need to pay for our transaction.

Psynthax

hero member

Activity: 2366

Merit: 504

Quote from: Hasan986 on August 29, 2021, 04:13:15 PM

As Gwei is much less than before. But the dollar has risen a lot. It is never desirable for a real trader. Small investors can't afford to trade so much. It needs to be remedied soon. What is much less in the Bnb chain. Many investors are trading in Bep20 excluding Erc20.

This is true, even if the gwei needed is much less but the price of each gwei has risen and thats why the price of the fee is still very high or even higher than before. If Ethereum is like BSC it will be better, but I think the fee will not reducing anytime soon, thats why at the meantime BSC is still better because its a lot cheaper and project like NFT that need cheap fee will prefer BSC than Ethereum. Maybe in the future the fee in Ethereum can be fixed but we don't know when.

Hasan986

full member

Activity: 416

Merit: 101

Quote from: VolkoB on November 26, 2020, 05:33:17 AM

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

As Gwei is much less than before. But the dollar has risen a lot. It is never desirable for a real trader. Small investors can't afford to trade so much. It needs to be remedied soon. What is much less in the Bnb chain. Many investors are trading in Bep20 excluding Erc20.

Kazkar

sr. member

Activity: 784

Merit: 250

I thought about what a high price for gas you are talking about, switched to etherscan and was very surprised. Recommend 121. What?

TWW

full member

Activity: 1456

Merit: 109

Quote from: Congyang on August 29, 2021, 10:31:09 AM

We don't know until when we have to see high gas costs from ethereum. because now many parties have voiced to be able to make the cost of ethereum gas low. but currently the cost of gas is still high. seems to follow the price movement of ethereum, if the price is high the gas cost will be high as well as if the price goes down the gas cost will go down

that's the truth we can see for now.
whereas before the last update made by the developer Gas Fee looks better with a decrease although still not stable.
but after the price rises again we see the transaction costs increase again. looks like this situation will last for quite a while. and of course, this can be a disadvantage for ethereum.

Congyang

full member

Activity: 882

Merit: 110

We don't know until when we have to see high gas costs from ethereum. because now many parties have voiced to be able to make the cost of ethereum gas low. but currently the cost of gas is still high. seems to follow the price movement of ethereum, if the price is high the gas cost will be high as well as if the price goes down the gas cost will go down

H1N1

full member

Activity: 812

Merit: 100

Quote from: NicNacCoin on August 26, 2021, 07:24:52 PM

At present the etherium gas fee has increased so much that if you want to sell a coin you cannot sell it because of this transaction fee. People have to pay so much transaction fee that it is very embarrassing.Very soon if the transaction fee of this Ethereum platform is not reduced then people will move from Ethereum platform to another platform.Below is an image of the transaction gas fee.

LOL, the transaction fee is higher than the value of the transaction itself Grin

I thought ethereum gas fee won't be high anymore because it was low in June, here is the article : https://www.coindesk.com/markets/2021/06/28/ethereum-gas-fees-at-6-month-low-as-market-cools-layer-2-solutions-ease-congestion/
Ethereum developer should find the solution of high gas fee, so the users can use it with cheaper cost.

Topic: ETH high gas fee - page 2. (Read 23725 times)