Topic: ETH high gas fee - page 23. (Read 23727 times)

Lately, ETH gas has always tended to be high for delivery, plus the price of ETH is currently above the cloud, many investors and holders have started moving for ETH, so that small gas will lose to high gas.

ETH high gas fee How many more days?
Is ETH 2.0 fully operational?
If not, how many more days will it take to launch?
Those who know, please let me know.

The cost of gas is currently high, but many of these have become a reference to the increase in gas, one of which is the large number of token deliveries on exchanges or other dompens, which makes the delivery queue slow so it requires a lot of gas to speed up the delivery.

I am also stuck with $50 worth of tokens for sometime. I want to convert it to ETH, before these tokens become worthless. But that process involves sending the ERC-20 tokens to an exchange, and then withdrawing the ETH back to my wallet. Two transactions need to be done, and in the end I will be left with only $35-$40 instead of $50. So for now, I have decided to keep the tokens as such.

The gas fee was totally so high and it was crazy dude, that's why for the meantime, I'm not doing any transaction under ERC20.
I'm just waiting a little bit to lessen its charge in it. Unless, if you withdraw a large amount of Ethereum I think that would be fine
anyhow, isn't that right?

This has always been my problem with Ethereum. it has drive many investors away from ethereum platform and they are yet to resolve this issue. we were promised that such issue will be resolved when ethereum 2.0 kick started but we are yet to confirmed whether that will solve the problem or not. hopefully, when more projects abandoned the ethereum platform, fees might go down when projects migrated to other blockchains.

It's funny that at the time the topic was created, the price of Ether was not so high, but the commissions seemed high due to the high prices for gas. Now the situation is reversed, gas prices are quite acceptable (56-90), but the price of ether itself is much higher. At the same time, I can't help but remember the times when the gvey was 6-15, and even then the 20 gvey seemed unforgivably expensive.

I believe this issue of high gas is going to kill Ethereum unless something is done in the next 6 months, how can I pay $20 for $100 transaction, it makes no sense, with all these new L1 coming up, I believe developers will start looking into them and taking them serious.

Using other crypto is my way to go until they figure it out. There are a few good option that are not eth based which I use. Couple of top 10 on CMC are not eth based so try using that.

First we have seen cyprtokitties problem on Ethereum blockchain and somehow they fixed the fee problem. And nowadays we have Uniswap madness and that's why we see high transaction fees. EIP 1559 update can fix this problem but we can see new problems on Ethereum because of angry miners.

If they do not change anything, they risk losing a lot of clients, because there are analog exchanges with a minimal commission

To pump price of Ethereum, ETH transaction cost is very effective. I have some tokens but I can't be brave enough to sell these tokens for transaction cost. Forkdelta and idex exchange cost us more than normal transaction cost. Now normal transaction cost is 6 USD on IDEX exchange and 0.015 eth in the Forkdelta.

It seems like so. The "De-Fi" hype may be over, resulting in reduced fees for everyone. Still, ETH network fees are above $1, limiting people's ability to interact with smart contracts on a daily basis. To be able to enjoy sub $1 fees, the network needs to scale by adopting new upgrades as soon as possible. Now that we're close from obtaining the full benefits of ETH 2.0, it should only be a matter of time before ETH becomes great again. Full PoS (Proof of Stake) and Sharding will make ETH as good as it was in its early days. ETH's main selling point was 14 second block times and ridiculously low fees. That made it reach the top to the point where it's the second-largest cryptocurrency in the world. If it wants to stay that way, the team is going to need to implement network upgrades in the least time possible to beat the competition. Otherwise, alternatives like TRON, EOS, and Polkadot will reduce ETH's market dominance.

Nonetheless, I believe that ETH's high network fees may not last for long. If you still want to transact cheaply on the Blockchain, you're going to need to wait until network activity reduces to a minimum. Setting a low "gas" fee will do the trick. The only downside is that you're going to have to have a lot longer before your transaction is settled on-chain. But at least, this is better than waiting hours and paying fees well above $5 on the Bitcoin blockchain. With scaling solutions on the way (both on-chain and off-chain), high fees on the Ethereum blockchain will become a thing of the past. Just my thoughts

The problem with high gas fee will be fixed very soon through the EIP 1559 update, it's just that this is a bad news for Ethereum miners ad their mining reward will now be lower than before, it has something to do with the congestion,

This was already good fee, before fee was really disaster. I really hope ETH 2.0 will make the price quietly stable and cheap. Its not good when the fees amount is same with the coin amount that you want to send.
But High Fees somehow make people want to talk about Ethereum in many social media, isnt it? Even its bad sentiment, they advertise Ethereum in their own way.

the best way is that we have to sacrifice larger assets as a way for fees, and when these assets are sold we can enjoy the initial capital of our assets even though they have to be deducted as fees. That's what I often do to deal with large fees even though it's not fair in my opinion

We don't know for sure when the fee madness will end but at least now after the hype defi is reduced we can make transactions for a smaller fee than a few months before, but still above $1

Yes. I understand that thing if the transaction will be done through your wallet that has Ethereum and you're in pain of transacting because of the high fees.
But we always have different scenarios like those people who have Ethereum in exchanges and they want to cash out. They have the option to choose altcoins that has cheaper fees for transfers.

It seems to me this madness has already ended. it's January 2021. At the end of 2017 it was the same, then a decline, calm in cryptocurrency, we are now waiting for 2023. Until that time, I think it will be possible to send cheaply.

Ethereum is in a good place in the crypto market. But their gas fees are actually much higher. I don't think gas fees will decrease until Ethereum's scalability increases. Despite the increase in Ethereum 2.0 scalability, gas fees have not decreased significantly. However, I think it is better to transact by choosing a lower gas fee. It may take a little stale time, but it will cost less.