ETH high gas fee - page 27. | Bitcointalksearch.org

MishaSER

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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?

Looks like the high fee problem is here to stay atleast and untill phase 1 of ETH 2.0 goes live because then the transactions are expected to be using the new upgraded eth 2.0 network which will be much more efficient than the current one. Anyways till then we should just relax sit back and watch ETH to moon Wink

Are you hoping that when Ethereum 2.0 is released, the gas price will stabilize? I think this will not solve the problem with high gas prices. Maybe I'm wrong, correct if I'm wrong.

mamesso

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Even yesterday the gas fee had reached 300 gwei and it was very expensive. Maybe for some whales it will not be a problem but for small traders it is a problem, they cannot sell tokens because the costs are high and of course the tokens they sell may be only a little, to cover the costs it is less.

I agree with you, Ethereum's high gas costs will always be a problem, especially for small traders, they have to think twice about making transactions there. If the Binance Smart Chain (BSC) is able to gain greater community and developer support, it will be very easy for BSC to shift ETH smart contracts.

Btra

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MYID

This is natural that ETH gas price will increase when the price of the Ethereum grow. But, alternatively, you can say that the increase of the GAS price is ultimately driving the ETH price. The lower the gas price down the ETH price again the higher the gas price the increase in ETH price.

Psynthax

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Quote from: ardentvolcanoes on January 04, 2021, 11:35:16 AM

High gas fee will kill you if you only have small amount of tokens especially if the tokens are only cost a small value in dollar,

you need to pay more than the amount that you are expecting to exchange the coins, you'll need to wait till the fees went down,

unless you are willing to sell it out for nothing.

True, the fee by using eth just doesnt cut it, its definitely unfair for those with relatively small amount of money and when it comes to using decentralized exchange, there's just too much hassle we need to go through and that spell a lot more smart contract execution which equals to a lot more money being wasted just for "transportation" it's really irritating. They said ETH 2.0 sharding will take effect but man if it's already taking some effect then its as good as without it.

bakasabo

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Quote from: Dhoe on January 05, 2021, 03:56:31 AM

I think not have chance to see eth gas down and take few eth as fees for sending coin, maybe after ETH upgrade become 2.0 fees payment will reduce but looks always high day by day and we need pay more than eth gas when transaction. After UNISWAP as exchange platform use eth gas transaction popular we never get eth gas down lower 20 gwei, last day up more than 400 gwei and take $15 if wanna success sending coin few minutes.

I think we just need to wait and catch low gwei periods. Yesterday morning I was shocked to see 500 gwei fee for a normal transaction. Few hours later I saw 140, but when I decided to make a transaction, fees went up again. I've waited till night and sent transaction with 110 gwei.
Not it is 91 gwei, but when I started to write this post it was 86. Miracle. I think if you want to make transaction cheap nowadays - wait till night.

Digital_Lord

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Quote from: kapalmabur on January 04, 2021, 06:56:54 PM

This is why I am lazy to use ethereum for transactions, for some reason they don't solve this problem,
even though the price of Ethereum goes up to $ 1000 and if Gwei is expensive then everyone will also avoid using ethereum

they are trying to fix the problem but it's not that easy. there are thousands of ethereum tokens which are playing a huge role in this high fee. ethereum's fee itself is not that high but when you send a token you'll have to pay way higher fee then ethereum.

Quote from: Dhoe on January 05, 2021, 03:56:31 AM

I think not have chance to see eth gas down and take few eth as fees for sending coin, maybe after ETH upgrade become 2.0 fees payment will reduce but looks always high day by day and we need pay more than eth gas when transaction. After UNISWAP as exchange platform use eth gas transaction popular we never get eth gas down lower 20 gwei, last day up more than 400 gwei and take $15 if wanna success sending coin few minutes.

I don't know if 2.0 upgrade would help in this. because all the tokens and smart contracts would still be there which are the main reason of eth gase price. as you said all this madness started after uniswap and you know what happened after uniswap. I am talking about Defi. this defi madness putting a huge load on ethereum blockchain.

Dhoe

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I think not have chance to see eth gas down and take few eth as fees for sending coin, maybe after ETH upgrade become 2.0 fees payment will reduce but looks always high day by day and we need pay more than eth gas when transaction. After UNISWAP as exchange platform use eth gas transaction popular we never get eth gas down lower 20 gwei, last day up more than 400 gwei and take $15 if wanna success sending coin few minutes.

mamesso

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It is possible that the current trend will be replaced by the BSC. I tried the BSC yesterday when selling TWT tokens and the cost is only around 0.001 BNB, of course it's very cheap and easy to make transactions there.

BSC It took time to shift ETH position, because Ethereum is more decentralized, while the weakness of BSC is in the control side that Binance still holds. If the adoption of Binance Smart Chain (BSC) is more developed than ETH, BSC will be very easy to shift the smart contract ETH. Moreover, the cost of BSC gas is cheaper than ETH, of course people will choose the BSC to make transactions.

kawetsriyanto

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Dunno, mate. I also hope the ETH gas fee can be decreased. The current gas fees are very annoying. I even often wait for a long time to see the gas fees back to a bit lower again. If this continues, we may miss many chances to take profits once our crypto assets are in the bullish trend. According to my experience, the gas fee is just decreasing once the price of crypto coins is already in the correction phase.

sayaya17

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Quote from: kapalmabur on January 04, 2021, 06:56:54 PM

This is why I am lazy to use ethereum for transactions, for some reason they don't solve this problem,
even though the price of Ethereum goes up to $ 1000 and if Gwei is expensive then everyone will also avoid using ethereum

Yeah, this is a long-time problem, for that people often complain about this. But ethereum is still the dream for new projects to use
smart ethereum contracts. So by being forced when we are going to send tokens to the exchange, we still have to give up
this expensive ethereum gas fee. In this case, TRON is very cheap for shipping transaction costs.

kapalmabur

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This is why I am lazy to use ethereum for transactions, for some reason they don't solve this problem,
even though the price of Ethereum goes up to $ 1000 and if Gwei is expensive then everyone will also avoid using ethereum

Rabi3

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Quote from: mamesso on January 04, 2021, 02:14:45 PM

This is the reason most new coins use the Binance Smart Chain (BSC) platform, because the process of sending tokens is fast and the transfer fee is also much cheaper than the current ethereum platform fee. I can't say BSC will replace Ethereum's place, but in a fact high gas fees make most people complain when making transactions.

It is possible that the current trend will be replaced by the BSC. I tried the BSC yesterday when selling TWT tokens and the cost is only around 0.001 BNB, of course it's very cheap and easy to make transactions there.

BSC is a good choice to make transactions there, but you can't use it everywhere, ethereum fees are going up these days, it's so stupid if someone wants to send 10$ to another address and fees are like four to five dollars, it's so stupid.

MCobian

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I also feel stressed and sad about this high gas fee Ethereum, why Ethereum developers don't solve this problem quickly. If this is the case,
many people will look for other alternatives, such as TRX and Binance platforms that send tokens faster and cheaper. Especially now that
the price of Ethereum continues to rise, I believe that in the near future Ethereum will return to its all time high price. And I can't imagine
that the gas fee will go up again. I am quite annoyed with the problem of ETH gas fee, which has not had a solution for a long time.

mamesso

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This is the reason most new coins use the Binance Smart Chain (BSC) platform, because the process of sending tokens is fast and the transfer fee is also much cheaper than the current ethereum platform fee. I can't say BSC will replace Ethereum's place, but in a fact high gas fees make most people complain when making transactions.

Novatech8

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To send Ethereum from a wallet to another costs 2$ for mid speed today but that's not my main headache here, sending tokens from Ethereum to another is where the real pain lies, it costs up to 10$ to send ERC20 tokens from one wallet to another, like WTF? Now Ethereum is still aiming for 1200$ I'm wondering what the gas fee will be like when it reach a new ATH

judeafante

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Yes, even last night I saw Gwei on the Ethereum platform exceeding 151Gwei, so that it prevented me from making transactions, but in the morning I also saw a slight decrease in this Gwei case which is not much different as before, just this I think will return to normal as it had in the past year, so just be patient.

I did three transactions this week, I am not in a hurry, I wait for the transaction to go down, it will eventually go down, if you are not in a hurry to send it will eventually go down, just check from time to time, it's very disadvantageous if you are in a hurry and you have no choice but to send, you will have to send higher than what you can allocate.

disconnectme

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Ethereum high price is crazy but in a bull market becasue everyone is making money, nobody do really care but any project that wants real adoption its need to look for ways to reduce this transaction fees. This year we are likely going to see a lot of second layer solution come up, the ones we have now developers seems not to be warmed up to them, when optimistic come out, I will like to see how it helps in this regard

ardentvolcanoes

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Quote from: pandanaran on January 04, 2021, 09:16:41 AM

after the recent Eth price hike has had a huge effect on gas costs as well we can see for ourselves that the gas average currently costs $ 4 and that is also among the lowest Gwei. High gas costs are a big problem for most small Altcoin holders, like myself. It doesn't make sense to exchange a small amount of say $ 10 coins for a $ 3 gas fee. what percentage of value will i get? Roll Eyes

High gas fee will kill you if you only have small amount of tokens especially if the tokens are only cost a small value in dollar,

you need to pay more than the amount that you are expecting to exchange the coins, you'll need to wait till the fees went down,

unless you are willing to sell it out for nothing.

Imran232

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Can you guys imagine my feelings right now. Is it fuc*ing joke man. I think i was in coma and i wake up after a long time and i can't recognise anything what i am seeing about technology or the thing in technology. Who want to be agreed for giving a $100 as a fee. I won't be agreed. Dude i am not rich just think. If a person has $10 worth of erc 20 based coin and now he want to sell or exchange if he see for sending thing transaction he has to pay a $100 fee how about his feeling. I am truely now desparate to know about all of your feeling right now after seeing this.

Mkmanik

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the current gas fee of ethereum is an Average 147 gwei (look at the picture) and with the price of ethereum gas price also increasing. this time I don't like to do any transaction at ethereum smart contract because of so high gas fee. People losing their interest in ethereum for this high fee and personally, I am using now TRC based coin to move my fund.

Topic: ETH high gas fee - page 27. (Read 23727 times)