Topic: ETH high gas fee - page 6. (Read 23741 times)
I think this situation will change soon - maybe in a few months. Hardforks and second level solutions will do their job and huge gas fees will disappear hopefully. Tired of this madness.
At present the Ethereum gas fee has been substantially increased. It doesn't make sense at all. Because I can't transfer any coin with so much transaction fee. People are getting confused.At this time, if the price of a coin is pumped enough, it will not be able to sell those coins due to the abnormal increase in the Ethereum gas fee.So I think Google should not take the transaction gas fee for this Ethereum platform quickly.
Yes, the gas fee is still high, so many users now using BSC network and their projects. Now many good projects are launching on BSC network.
Ethereum gas fee comes down but it again goes up, so we have to swap or transfer at the lower fee time.
Ethereum gas fee comes down but it again goes up, so we have to swap or transfer at the lower fee time.
The price of gas drops every day at a certain time, and you need to make transactions at that time. Of course, I agree with you and hope that Ethereum 2.0 in 2021 will solve this problem, but I've also seen how many cryptocurrency projects that were on the Ethereum blockchain switched to other blockchains because transactions on the Ethereum blockchain have become verifiable.
Do you think it is really worthy for all the time? We need a permanent solution. It's really a insane thing if we think about the gas fees of Ethereum. As a alternative, Bsc is doing really great.
I gave ETH a wide miss when they did their roll back of the block chain and had that subsequent skisim that resulted in a fork (correction). Recently, I've tried to buy a couple of new Tokens on the ERC20 chain and found the price to buy was cheep, but then the TX (GAS) fees made the price to buy cost prohibitive.
I was wondering if anyone had any tips for how to achieve low transaction costs? This is the Ethereum network, and the congestion on the network does not allow you to make things simple. This is the danger of some of this network. A lot of people don't realize that transfer fees are often higher than they think.
There is no guaranteed tips that will make the gas cheaper but there is some trick that i used if i want to sending any Ethereum Transaction, First one, Make sure to send on Midnight Time (Europe or Asia) Because mostly lot of trader come from that region and the gas prices will much lower on that time, Beside that maybe using Layer-2 Network it's much better if you frequently doing some transaction on Ethereum, The last one if you are trading on DEX try 1inch, It's offer Chi gastoken, It's offer much lower fee -+30%.Now fee is decreasing day by days. At this time fee is only 32 Gwei almost 2$-3$. Bsc and polygon network is competitive to Eth and Eth will reduce more fee otherwise Eth can lose faith. London fork was part of up gradation and much needed more parts soon
The fee in my opinion is not decreasing day by day but it's changing a lot and it's quite expensive.That's why many people still prefer BSC instead of ETH or now even Matic that's a lot cheaper compared to ETH.
Maybe people will mostly just stay in BSC because it's the same thing and BSC is more consistent compared to ETH and now even Matic is doing the same.
There are many people now who enjoy using BSC and developers are adding their project using this chain.
It's unavoidable since ERC still have that huge amount of fees and in order to deal if you are a day trader who uses tokens is
by using chain that offer lesser gas fee., No assurance if after the update ETH gas will be lesser or even close with BSC, still
up to the end users if which chain they prefer to use.
I was wondering if anyone had any tips for how to achieve low transaction costs? This is the Ethereum network, and the congestion on the network does not allow you to make things simple. This is the danger of some of this network. A lot of people don't realize that transfer fees are often higher than they think.
There is no guaranteed tips that will make the gas cheaper but there is some trick that i used if i want to sending any Ethereum Transaction, First one, Make sure to send on Midnight Time (Europe or Asia) Because mostly lot of trader come from that region and the gas prices will much lower on that time, Beside that maybe using Layer-2 Network it's much better if you frequently doing some transaction on Ethereum, The last one if you are trading on DEX try 1inch, It's offer Chi gastoken, It's offer much lower fee -+30%. legendary
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Now fee is decreasing day by days. At this time fee is only 32 Gwei almost 2$-3$. Bsc and polygon network is competitive to Eth and Eth will reduce more fee otherwise Eth can lose faith. London fork was part of up gradation and much needed more parts soon
The fee in my opinion is not decreasing day by day but it's changing a lot and it's quite expensive.That's why many people still prefer BSC instead of ETH or now even Matic that's a lot cheaper compared to ETH.
Maybe people will mostly just stay in BSC because it's the same thing and BSC is more consistent compared to ETH and now even Matic is doing the same.
Now fee is decreasing day by days. At this time fee is only 32 Gwei almost 2$-3$. Bsc and polygon network is competitive to Eth and Eth will reduce more fee otherwise Eth can lose faith. London fork was part of up gradation and much needed more parts soon
Yes, but at the same time when Uniswap offers to swap ERC-20 tokens for me in the amount of $ 10 and pay $ 20 in commission at the same time, this decrease in gas prices did not make me much easier. We'll have to wait for sharding and the launch of POS, perhaps this can partially reduce the severity of the problem of commissions.
The high cost of ethereum gas fees is indeed very heavy and becomes a big problem for crypto users, the current high price of ethereum is also one of the triggers.
and I also thought,
Is it true that the high cost of ethereum gas fees is also caused by the transaction time? meaning that the best time to trade ETH is on a Saturday or Sunday—that's when gas prices are lowest. On the other hand, the least favorable times are Tuesday through Thursday, when the grid is busiest and gas prices are at their highest.
I was wondering if anyone had any tips for how to achieve low transaction costs? This is the Ethereum network, and the congestion on the network does not allow you to make things simple. This is the danger of some of this network. A lot of people don't realize that transfer fees are often higher than they think. and I also thought,
Is it true that the high cost of ethereum gas fees is also caused by the transaction time? meaning that the best time to trade ETH is on a Saturday or Sunday—that's when gas prices are lowest. On the other hand, the least favorable times are Tuesday through Thursday, when the grid is busiest and gas prices are at their highest.
yes, I admit that the gas fees from Ethereum are currently very expensive, but I hope that when ETH 2.0 is launched, then the gas fees from Ethereum will become low again, so make many new projects will start using blockchain from Ethereum again and of course it will have a positive impact on the price of Ethereum (could increase very high).
Compared to the levels we had by the end of 2020, the Ethereum has fee has gone down by 10 times or so. Fee for high priority transactions now stand at $3.11 (41 gwei). But with Ethereum, there is no certainty. You never know when the prices are going to increase again. The ETH 2.0 update hasn't eliminated the most important drawbacks. And the response from the developers have been so far disappointing. Rather than using the ETH 2.0 to advance Ethereum to another level, they are just using it as a delaying tactic.
It's been a long time I don't do transactions on the ethereum network, to send tokens from my wallet address to exchange wallets I think it's still affordable, but if we swap tokens on DEX exchanges, it requires high gas fees.
currently i am waiting for lower transaction fees to trade on the Dex exchange and i always see progress from eip-1559 and london hardfork all the time https://ethernodes.org/london
currently i am waiting for lower transaction fees to trade on the Dex exchange and i always see progress from eip-1559 and london hardfork all the time https://ethernodes.org/london
Now fee is decreasing day by days. At this time fee is only 32 Gwei almost 2$-3$. Bsc and polygon network is competitive to Eth and Eth will reduce more fee otherwise Eth can lose faith. London fork was part of up gradation and much needed more parts soon
Due to high exessive Ethereum network fees, some investors and traders preferring to leave the eth network. But a few days ago Ethereum network fees deceased but recently ETH network fees again increasing. But Ethereum network fees increasing with the rate of ethereum price and volumes daily.
Decreasing and increasing of ETH gas is very common, but that's not solving the problem if the fee is only fixed temporarily.It's better if we have stable fee that's pretty cheap than having a really cheap fee and then it can go up to very expensive price really suddenly.
That's why its normal if many people prefer leaving ETH because the fee is really expensive compared to BSC like the NFT games tokens.
Due to high exessive Ethereum network fees, some investors and traders preferring to leave the eth network. But a few days ago Ethereum network fees deceased but recently ETH network fees again increasing. But Ethereum network fees increasing with the rate of ethereum price and volumes daily.
It is really a big loss for small traders that's why BSC is getting strong. Right now even the EIP 1559 didn't solved the problem rather worsen it. In my country, we have this regulated exchange for crypto where they charge a fix 0.0072 eth for every transaction. Very ridiculous amount for just a transaction fee. Uniswap is even higher in some cases where a 100$ for a single transaction is deducted.
Ethereum 2.0 with its POS will be effective December and hopefully this will keep transaction costs down. The large transaction value makes many projects switch to BSC and I think this is reasonable for the convenience of investors especially with the increasing number of DeFi projects, transaction costs must be low to be profitable
Ethereum is currently The transaction gas fee has increased so much that we are not able to transfer any token due to this gas fee when we try to transfer any token. To transfer a token you have to pay a transaction fee of 12 to 40 50 dollars. We don't have any dollars left in the last to sell the token by transferring the token with so much transaction fee.Thus if the cash fee is increased then people will now move from the Etherium platform to the unique platform. And there will be a lot of damage to the Etherium platform. So I think you know the importance of the Ethereum platform Transaction gas fees are reduced.
The situation gets worse when the price per coin gets higher in the market and one of them is Ethereum. we can see for ourselves that the price of Ethereum has reached its new ATH, and this causes congestion on the network and the transaction fees become more expensive. Many projects are starting to notice the negative effects of high fees, leading them to look for other options in the crypto or Blockchain space. Binance Coin's recent surge in popularity, tells us that people are getting tired of the high fees of Ethereum.
For one, you are right when you said that Binance coin's popularity is the result of the issue with Ethereum. Many people are putting their money on Ethereum and got disappointed with the high fees so they try to pull it out and buy BNB instead. There is not much yet that can be offered with BNB but many are hopeful since so many have been investing to the many tokens that BNB has on its ecosystem. If someone made an app or game on BSC then people might just be jumping camp and root for BNB instead of ETH.
Ethereum smart contract also host other ERC-20 based token, Non-fungible tokens and decentralised finance. so, I think It is not anything matter of concern,
And that's why it's the concern, NFT, DeFi or for the simple dApps was frequently Interacting with smart contract which is need to pay the fee and the current Ethereum Fee was really high and didn't any make sense, It's the main concern for Ethereum after last london fork didn't give any significant Impact. Lot of existing Project that using ERC-20 before was migrating to other chain like BSC, TRON and maybe soon ADA also Layer-2 Network too which is sign that Ethereum chain right now was obsolete.Not only Ethereum but also all coins transactions are increased gradually after the bull run. In the case of Bitcoin transaction fees for next block has risen, to around 30/40 usd, so it is very normal that the fee of ethereum will increase as well.
Yeah you're right about that but the current Ethereum fee was really didn't make any sense, Rise more than 5x comparing to other chain that have same use case like Tron, Waves, BSC. For the bitcoin itself i don't really understand your point since it's have different use case in the first place, Bitcoin was used mainly for direct transaction while Ethereum was becoming host as you say for any ERC-20 Project which is making it more used frequently and the gas fee was the concern. Can you imagine some small trader like me that traded $10-$20 Value and paying $5 Gas Fee while BSC only need $0,3? From here we can see the gap and over time people will choose other network. Jump to: