ETH high gas fee - page 37. | Bitcointalksearch.org

leea-1334

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Quote from: Menawi12 on November 27, 2020, 12:50:16 AM

I have paid a transaction fee of more than $ 5 but I think it's still worth it when claiming an airdrop from Uniswap. It is common for transaction fees on ethereum to change depending on whether the ethereum network is busy or not. Hopefully the launch of ETH 2.0 will reduce transaction costs

You are actually quite lucky;) I know people who have to pay much more than that. I do not often use ETH but personally I pay max around $1 since I do not mind waiting for many hours. I just feel like it is such a burden to pay for just a cost of sending,,, just like Bitcoin.

Smart contracts eat much more gas fees now right?

Majharul Saiif

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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?

The gas fee is high still now. We have nothing to do without coping up with this. ETH 2.0 will be on force within the coming month hopefully. Then we may expect the low fees with less time in transactions as they claim. So if you want to use low fees then you have to wait more time.

cryptoknightt

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I don't see it going on for a long time, I mean it was just made by someone to do a large amount of transactions and want it to be delivered quickly so the gwei gas set is very high.
after that the fee returns to normal as usual.
this is a decline phase so fees will also go down because there is less demand.

Iyeman

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Quote from: dhaldanga on November 27, 2020, 08:56:14 AM

Ethereum gas fees are very high so far,
Which is very sad for cryptocurrency users.
Because most coins or tokens are made in Etherium blockchain.
I hope Gas fees will come down when Ethereum 2.0 is turned on.

I hope so but it's not clear whether the scalability issue will be fixed instantly after the implementation of ethereum 2.0
Ethereum 2.0 will be divided into the some phases. that means it's not all of updates will be implemented instantly. That needs more time for us to see the full implementation of ethereum 2.0
The tx fees has become the main disadvantage of ethereum blockchain right now.

(o)(o)ilikeboobs(o)(o)

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Quote from: bocyaj on November 26, 2020, 01:59:45 PM

Quote from: (o)(o)ilikeboobs(o)(o) on November 26, 2020, 11:11:19 AM

To end high transaction costs on the ethereum network, the blockchain itself needs to fully convert to POS instead of POW as before. People are organizing auctions to speed up their transactions, the more people want to send deals quickly, they will have to spend more money to make transactions faster.
When removing POW and replacing it with POS, DPOS made sure the cost was fixed. At that point, sudden high costs will no longer happen on the Ethereum network.

With my knowledge, the gas fee of ethereum is keep increased in this year a lot.It had behind with the rise in price of Ethereum above 350$.Now the price reached 500$, so it will reduce with reduction in Ethereum price.

High transaction costs depend on the needs of those involved in the transaction and it does not entirely rely on the high price of ETH.
When ETH price falls, demand for ETH transactions is low. Take a look at DEFI, DEFI projects that have made up the race on cost because people focus on DEXs and get into farming.
I remember last month ETH has a lower price and higher cost this month.

taufik0911

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this is the effect of the popularity of ethereum smart contracts which are very popular with many dApp project makers and there are still many uses of smart contracts.
because the number of transactions on blockchains makes transaction gas expensive
This is the problem with each blockchains namely transaction fees and transaction opportunities

dhaldanga

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Ethereum gas fees are very high so far,
Which is very sad for cryptocurrency users.
Because most coins or tokens are made in Etherium blockchain.
I hope Gas fees will come down when Ethereum 2.0 is turned on.

kayvie

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I think that the transaction fee is more stable now. I initiated a transaction earlier and paid only below $1. I don't know if there is only a time when the transaction fee is higher than usual but if you try to do transaction by now you will see that it changed back to normal. I avoided doing transaction since last week because of the same reason, but right now it is already back to normal.

sarmrakib

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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 can change within 30sec mate .You just catch up when its showing high gas i have done many transaction with low of cost .Today i have just made a transaction with 1.02$ .So that when the transaction pressure force the gas fee will high .So i just wanna suggest you try after few minutes .

zasad@

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Quote from: Menawi12 on November 27, 2020, 12:50:16 AM

I have paid a transaction fee of more than $ 5 but I think it's still worth it when claiming an airdrop from Uniswap. It is common for transaction fees on ethereum to change depending on whether the ethereum network is busy or not. Hopefully the launch of ETH 2.0 will reduce transaction costs

The launch of Ethereum 2.0 will not affect transaction costs in any way. It will be possible to transfer tokens only after phase 2 (they promise in 2022),
and before that the network will work with the same fees. I saw an EIP where most of it will be burned and not given to the miners.
But this is only a temporary solution.

Teraboy

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Quote from: Menawi12 on November 27, 2020, 12:50:16 AM

I have paid a transaction fee of more than $ 5 but I think it's still worth it when claiming an airdrop from Uniswap. It is common for transaction fees on ethereum to change depending on whether the ethereum network is busy or not. Hopefully the launch of ETH 2.0 will reduce transaction costs

That's the different case, we are talking about is it worth to pay a few dollars to send a very small transaction. That means it has nothing to do with uniswap claim.
The majority of small users were not able sending their coin to the exchange sites when the ethereum chain was getting clogged.
I think that you must understand about that dude.

loopes

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Quote from: southerngentuk on November 27, 2020, 01:37:57 AM

Quote from: piebeyb on November 27, 2020, 01:26:05 AM

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

-snipped-

I saw that yesterday when there was panic selling due to correction of bitcoin, ethereum and others, so maybe a lot of people make transactions for selling and not selling too late so they want to do it using high fees so they can sell their erc20 or ETH tokens, but today it has very stable under 30 Gwei https://etherscan.io/gastracker

It depends on whether the volume of transactions is large, I remember yesterday I traded on the ethreum network with a gas fee of around 50 Gwei, this issue was discussed a lot for Ethereum because of the transaction speed as well as fee is too high compared to other platforms, but I see ethereum coming soon ETH 2.0 and this I think will make ethereum better.

yes that's why people are waiting for ETH 2.0 to really be released and successful, because I know it will help to overcome the high fees for transactions, so everyone can only wait for it to really work out too and it really works, many are worried about ETH 2.0 won't do the trick, but let time tell that, let's see ETH 2.0 does solve this problem

Yeah high cost of gwei expense (fee of Ethereum transaction) is caused from panic selling while bitcoin correction to faster the transaction made by people. Ethereum transaction that use proof of work ( PoW) mecanism also one of the reason related with why a lot of people set higher gwei to get faster on their transaction. Proof of Work on current (version) ethereum only cover about 30 transactions per second *correct me if i am wrong. So people who made transaction should set higher fee to be more priority.

Related to Ethereum version 2.0, it is very cool to overcome this case. Ethereum 2.0 use Proof of Stake basis for their transaction. Ethereum 2.0 promises up to 100,000 transactions per second. This increase will be achieved through the application of fractional chains. I can't wait for phase 0 release of Etheresum 2.0 this end of year.

centralcurrency

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When eth 2.0 is launched on December 1.Gas fees are likely to decrease.

Mpamaegbu

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Quote from: Lordhermes on November 27, 2020, 02:14:47 AM

Hey, I just made a transaction just now and its has a normal charge which was actually low on trust wallet. I think the high gas fee madness had actually stopped.

Yep, I noticed it too that the crazy billing is gradually subsiding and I believe strongly that it has everything to do with the Dec 1 launch of ETH 2.0. It's crazy how the fees have kept a lot of prospective projects on hold, pending the release. The ESH swap has been put on hold because of these outrageous tx fees too. There was even a bounty I took part in here that refused to send bounty rewards to hunters because the team didn't want to pay the exorbitant fees, and it asked hunters to claim the rewards themselves and pay the tx fees. With fees coming down now, I sincerely hope that things will return to normal with ETH.

bluebit25

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This is a bad thing about ethereum as sudden increase in transaction volume will lead to network congestion and you will need to pay higher gas fees for fast transactions, but i think this problem will be fixed recovery during winch because of the updates on ETH 2.0

Lordhermes

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Hey, I just made a transaction just now and its has a normal charge which was actually low on trust wallet. I think the high gas fee madness had actually stopped.

gurunanakji777

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It's quite a high gas fee when you took this screenshot. Usually, it's not a daily issue but this needs to be fix it. If we have to pay such a high gas fee for every transaction it will pinch us. Nobody likes to pay the hefty gas fee. Now today gas fee is normal.

southerngentuk

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Quote from: piebeyb on November 27, 2020, 01:26:05 AM

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?

I saw that yesterday when there was panic selling due to correction of bitcoin, ethereum and others, so maybe a lot of people make transactions for selling and not selling too late so they want to do it using high fees so they can sell their erc20 or ETH tokens, but today it has very stable under 30 Gwei https://etherscan.io/gastracker

It depends on whether the volume of transactions is large, I remember yesterday I traded on the ethreum network with a gas fee of around 50 Gwei, this issue was discussed a lot for Ethereum because of the transaction speed as well as fee is too high compared to other platforms, but I see ethereum coming soon ETH 2.0 and this I think will make ethereum better.

piebeyb

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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?

I saw that yesterday when there was panic selling due to correction of bitcoin, ethereum and others, so maybe a lot of people make transactions for selling and not selling too late so they want to do it using high fees so they can sell their erc20 or ETH tokens, but today it has very stable under 30 Gwei https://etherscan.io/gastracker

Squezzi55

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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?

Whenever this happens just take a deep breath and relax, wait for a day or two the Eth gas fee will go down again, just because Ethereum is surging doesn't mean it's gas fee will stay up forever, right now I checked again and it's down, you can make a successful transaction with just 23gwei (0.25$)

Topic: ETH high gas fee - page 37. (Read 23741 times)