Ethereum and additional gas fees - page 3.

judeafante

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Quote from: RIFAT001 on October 11, 2021, 02:10:05 PM

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?

It is the most expensive right now I shy away from transacting Ethereum and Etrhereum based tokens on Uniswap and other Decentralized exchanges, I'm not a big trader but I just cannot transact $50 worth of token for $30 worth of fees, this is one of the reasons why volume is not high on Ethereum based token, and Binance Smart chain has overtaken Ethereum when it comes to token creation and transacting

letyouearn

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Quote from: RIFAT001 on October 11, 2021, 02:10:05 PM

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?

I always wondered how people treat all this gas situation so calmly and doesn't see these fundamental flaws in this blockchain...
If we compare ETH or ERC20 tokens with traditional fiat payment systems right now, the choice would be definitely in the "old but gold" style.

AmoreJaz

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Quote from: NicNacCoin on October 12, 2021, 07:44:55 PM

People are now moving away from the Ethereum platform due to the exorbitant increase in transaction gas fees. At present we see that there are very few projects on the Ethereum platform.If the transaction fee goes up like this then people will stop coming to this platform. I think the gas fee of the Ethereum platform should be reduced a lot at the moment. Otherwise, its popularity is the same Will lose.

we've been waiting for so long for eth to reduced their fees but to no avail, they are still quite expensive. i don't know when will we see competitive fees again. but it is understandable if a lot of devs are migrating to other networks to avoid paying such high fees.
but the price of eth in the market is saying that a lot of crypto users are still trusting this network. it is maybe because their dev team is solid and can really deliver their objectives.

NicNacCoin

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People are now moving away from the Ethereum platform due to the exorbitant increase in transaction gas fees. At present we see that there are very few projects on the Ethereum platform.If the transaction fee goes up like this then people will stop coming to this platform. I think the gas fee of the Ethereum platform should be reduced a lot at the moment. Otherwise, its popularity is the same Will lose.

Botnake

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Quote from: livingfree on October 12, 2021, 06:45:22 PM

Quote from: Patigi on October 12, 2021, 03:20:08 PM

Yes, it is true that Ethereum gas fee is too expensive. There are a lot of people that have token in the blockchain but do to high gas fee, so many people have left thier token over there compare to BSC blackcain that you can swap token with small gas fee.
For me I have some token worth of 50$ which I am afraid to swap due to their gas fee, because the amount of Gass fee I will use to swap the token might be more than value of token itself. Now a lot of people are losing interest in the blackcain

Just don't swap it.

That will require you a lot of eth for the fees to cover it and it's not a good time right now because the fees keep on fluctuating. I miss seeing the fees being stable and they're easy to convey because they're cheap.

But today, it's very different.

If you don't have enough funds for the gas fees, better just still keep your coins in your wallet. There are times that ethereum gas fees is quite affordable so you will have more money to save. But right now, its very high as only big whales can transact their tokens these days. This platform has definitely made us all struggles whenever there are times that we need to do transactions. Although ethereum platform's performance is reliable but the price just really give us a damn. Hopefully, things will get better soon before another platform takes over ethereum.

livingfree

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Quote from: Patigi on October 12, 2021, 03:20:08 PM

Yes, it is true that Ethereum gas fee is too expensive. There are a lot of people that have token in the blockchain but do to high gas fee, so many people have left thier token over there compare to BSC blackcain that you can swap token with small gas fee.
For me I have some token worth of 50$ which I am afraid to swap due to their gas fee, because the amount of Gass fee I will use to swap the token might be more than value of token itself. Now a lot of people are losing interest in the blackcain

Just don't swap it.

That will require you a lot of eth for the fees to cover it and it's not a good time right now because the fees keep on fluctuating. I miss seeing the fees being stable and they're easy to convey because they're cheap.

But today, it's very different.

Anonymous100

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Quote from: RIFAT001 on October 11, 2021, 02:10:05 PM

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?

Yes, it is not right for now to use the Ethereum blockchain to swap tokens. Plus the swap fees on the Uniswap platform are very high. The minimum fee for activating tokens on the swap platform is $8 and the swap fee is $25. If it fails then we lose $25. It's very complicated, we can't set the fee to lower, because of the risk of the transaction failed.

Patigi

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Yes, it is true that Ethereum gas fee is too expensive. There are a lot of people that have token in the blockchain but do to high gas fee, so many people have left thier token over there compare to BSC blackcain that you can swap token with small gas fee.
For me I have some token worth of 50$ which I am afraid to swap due to their gas fee, because the amount of Gass fee I will use to swap the token might be more than value of token itself. Now a lot of people are losing interest in the blackcain

lixer

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Quote from: bahagia93 on October 12, 2021, 09:01:04 AM

Let's play the logic on this so you can keep your mind open when comparing the past cost of Gas to the current cost of Gas on Ethereum.
In the past when the price of Ethereum was at $100, the number of digits of fees that had to be incurred on each transaction looked the same as it is now, so why now the fees are expensive when calculated in dollars? the answer is what is the price of Ethereum today and how much is the price of Ethereum in the past, I think that alone is enough to make you understand buddy

Those are not exactly the same thing and the reason is not that. When it was 100 dollars the gas fee was low and yes it was not so different on eth value but that was because people were not willing to pay a lot for gas fee, there were a lot less people and eth blockchain handled it very well, it could have been higher as well if there were a lot of people using it, but there were a very few of them.

Now, it is higher not because the price of ETH went up (well indirectly it is) but because many people are using it and the highest bidder would have their transactions sent very quickly whereas if you pay a little then you won't be able to pay for it.

cryptoknows

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Quote from: RIFAT001 on October 11, 2021, 02:10:05 PM

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?

Try exploring the Near protocol ecosystem. This cross-chain completely solves the gas and swap problem of erc-20 tokens. Dex is available right now, which will completely solve your need for an exchange for uniswap with zero commission per transaction

Mamun74

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High gas fees become vary expensive. Now ETH Network transaction gas fee is very expensive high.Untill that high gas fee not change anything. Still ETH transaction gas fee more high.I Think they development in future and update their systems and solve that problem.

Findingnemo

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Quote from: tvplus006 on October 12, 2021, 10:18:47 AM

Quote from: Findingnemo on October 12, 2021, 09:24:45 AM

I don't see it as good thing because most of the scam projects can even listed on the DEX with no barriers so the users are going to lose their money but when it comes to CEX there will be atleast some criteria to meet for a project before getting them to be listed.

For me, the main criterion for buying on DEX is the price of the coin. I will not persuade you to buy new coins on decentralized exchanges) Here, every trader should assess the risks for himself. But I prefer to buy coins at a low price on DEX than to buy them on centralized exchanges at a price several times higher after listing on CEX.

It shows that projects are getting enough recognition only if its listed on centralized exchanges but anyway different people have different strategies when it comes to investment on new projects.

BigBos

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fees from ethereum are quite expensive at this time. because of that, I refuse to make transactions that are not so big when exchanging ethereum platform coins on DEX. I've also spent more than $30 just for fees.
it's just, I use it when I need it. Currently I prefer to use BSC, or Matic, coins instead of ethereum because of this fee problem.

Coin_trader

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Quote from: fadil46 on October 12, 2021, 10:14:52 AM

Quote from: ?? on ??

It is true, very expensive transfers, now only projects with high liquidity are made on the air, because cheap projects are not even able to transfer money, taking into account such a high commission for the transfer of tokens.

Cheap projects or projects that don't have enough funds will always use and see Blockchain networks that are very cheap in terms of transfer fees, besides the developers will also not be able to use expensive networks for projects whose capital is only mediocre.

There's still a lot of mediocre project choose to launch on ETH despite the expensive transaction fee. The main reason why they are still using ETH blockchain is due to it vast user and high liquidity. They just setup a cross chain feature on other blockchain after they set footing on ETH.

ETH blockchain is not for big project alone for that reason explained above.

tvplus006

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Quote from: Findingnemo on October 12, 2021, 09:24:45 AM

I don't see it as good thing because most of the scam projects can even listed on the DEX with no barriers so the users are going to lose their money but when it comes to CEX there will be atleast some criteria to meet for a project before getting them to be listed.

For me, the main criterion for buying on DEX is the price of the coin. I will not persuade you to buy new coins on decentralized exchanges) Here, every trader should assess the risks for himself. But I prefer to buy coins at a low price on DEX than to buy them on centralized exchanges at a price several times higher after listing on CEX.

fadil46

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Quote from: ?? on ??

It is true, very expensive transfers, now only projects with high liquidity are made on the air, because cheap projects are not even able to transfer money, taking into account such a high commission for the transfer of tokens.

Cheap projects or projects that don't have enough funds will always use and see Blockchain networks that are very cheap in terms of transfer fees, besides the developers will also not be able to use expensive networks for projects whose capital is only mediocre.

Vatimins

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You know OP, I really agree with you. I used to be a frequent user of Ethereum when I transfer funds because back then, I was still a newbie in this industry and only trusted bitcoin and Ethereum and Ethereum having lower fees than btc, I used it often. But nowadays, the fees have gon crazily out of proportion. The fees are way too expensive! Even more expensive than btc! So now, I use xrp to transfer funds. But in swapping or buying coins on service providers like uniswap, sushiswap, etc., We really have no choice but to use Ethereum when swapping with erc20 tokens. I just hope a solution is created about this problem of horrendous fees!

Doell

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ethereum gas fee have indeed been very high in the past months on the dex swap exchange platform ,more unnatural when you trade using a mobile device on swap dex ,its strange at the already written fee of 8 dollars and when you want to enter again the fee increases to 30 dollars until it can be even more ,does the OP trade using a mobile phone?

Findingnemo

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Quote from: tvplus006 on October 12, 2021, 08:52:40 AM

Quote from: Findingnemo on October 11, 2021, 03:07:04 PM

Yes, trading ethereum tokens on the decentralized exchanges are the most expensive one than others, if you want to make the trade to happen then you have no other choice than spending the required fee but if you are someone who is not ready to spend that much as fee but don't care about the KYC then there are some good centralized exchanges are available for cheapest trading experience.

No centralized exchange will be able to replace DEX, since new coins are listed there first of all. And we have to recognize the fact that many new coins introduced on DEX will never appear on centralized exchanges. This, along with confidentiality, ensures high turnover of trading on decentralized exchanges.

I don't see it as good thing because most of the scam projects can even listed on the DEX with no barriers so the users are going to lose their money but when it comes to CEX there will be atleast some criteria to meet for a project before getting them to be listed.

bahagia93

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Quote from: Ros-In on October 12, 2021, 08:19:06 AM

I'm not sure if the ethereum gas fee will go down or return to normal as before, on the contrary I believe the gas fee will increase every year.but it will not reduce the interest of traders because there is always innovation

Let's play the logic on this so you can keep your mind open when comparing the past cost of Gas to the current cost of Gas on Ethereum.
In the past when the price of Ethereum was at $100, the number of digits of fees that had to be incurred on each transaction looked the same as it is now, so why now the fees are expensive when calculated in dollars? the answer is what is the price of Ethereum today and how much is the price of Ethereum in the past, I think that alone is enough to make you understand buddy

Topic: Ethereum and additional gas fees - page 3. (Read 568 times)