Ethereum Fees - page 3. | Bitcointalksearch.org

Febo

legendary

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Quote from: danherbias07 on September 04, 2020, 02:24:43 PM

Quote from: Febo on September 04, 2020, 12:01:17 PM

Quote from: Get-Paid.com on September 02, 2020, 02:13:02 AM

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?

Now that value of ETH is declining so is value of transaction fees declining. It could go back under $1 soon. But big question is, if $1 transaction fees are not to high. You cant make micro payments with that. You can barely afford normal payments at that level.

Holy crap.
I just saw that now. Thanks for the update.
$100 down already. Yes, this might make the fees cheaper again since we like converting it always to USD before making any transactions. Grin

What could be the reason behind this recent dump? Cry

The reason is that Tesla announced stock split and its share went vertical on the announcement and then at the moment of split price dumped. Because of that whole stock market dumped and Bitcoin and all altcoins followed. All is now connected. Tesla stockmarket, Bitcoin, crypto. Pomp and dump. Buy on rumour sell the news.

escalante28

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Quote from: Get-Paid.com on September 02, 2020, 02:13:02 AM

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

Major reason is Defi project specially those in Uniswap and pyramiding scheme investment. They're causing this heavy traffic in ethereum blockchain that lead the unusual rate of fees. Everything will back into normal once they tired investing in defi and after the release of Eth 2.0.

ttcsalam

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The etherium fee is actually not acceptable in any way.Because of this their market value is getting lower day by day.Their fees should be reduced now.In the meantime, TRX and XLM are much faster in their service and their fee is less.If Ethereum is to survive in the market.The charge must be reduced.

Shasha80

sr. member

Activity: 1876

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I agree with the opinion that the increase in Ethereum fees was caused by DeFi projects, because this year many DeFi projects are hype
making Ethereum transactions crowded. This caused some Ethereum transactions to be unusually delayed. Therefore, the solution is to
increase the Ethereum transaction speed to a minimum of 480 Gwei. It is very expensive, but that's it solution so that the transaction
process can run but we have not to wait a long time to be confirmed.

Neoterix

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Quote from: plr on September 05, 2020, 10:22:35 AM

This cannot run for many more months everywhere people are complaining of a very high fees and late confirmation DeFi is still on all time high if this go on for many more months a new coin will emerge as a temporary replacement for Ethereum, but of course people are not going to leave Ethereum they just want to save fees and transact fast.

True, Defi won't stop any time soon and Ethereum just can't handle it, like always. The tx are stuck because the scalability problem of Ethereum and the fees are going to be higher and higher. I wouldn't be surprised to see $10 fees in the future.

plr

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Quote from: grizmoblust on September 04, 2020, 10:33:14 PM

Currently the ETH network is very high and for sure, if you don't fix this, investors will no longer be interested in this coin. I was charged up to $ 30 and this is actually a very high fee compared to what is happening. Hopefully Ethereum 2.0 will put an end to this situation as 90% of projects are using the platform of ETH for development.

This cannot run for many more months everywhere people are complaining of a very high fees and late confirmation DeFi is still on all time high if this go on for many more months a new coin will emerge as a temporary replacement for Ethereum, but of course people are not going to leave Ethereum they just want to save fees and transact fast.

carriebee

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Quote from: xOdiumNostrumx on September 05, 2020, 04:37:06 AM

The fees are definitely insane right now, especially when sending ERC-20 tokens, but if you are not in a hurry, you can try to avoid the saturation peaks of the network. Make your transaction at non-prime times, early in the morning or late in the evening for example, that way you can save a buck or two pretty quickly.

This is really the problem the high fees of eth these days. Actually, we can do have an option of waiting to normalize the network becomes low fee. And with these defi types the network is congested. These happen before ethereum fees is expensive so users may choose to pay or pass the days until such time network becomes normal.

ryap12

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Quote from: Killrbit on September 05, 2020, 07:57:02 AM

Quote from: Get-Paid.com on September 02, 2020, 02:13:02 AM

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

Yeah its the Defi hype and Uniswap that's clogging the chain right now, but maybe with the recent crash things should calm down a bit. All this just reminds me of crypto kitties and from 2017.

It also unfortunately shows that for all the talk Ether still suffers from the same scalability problems as Bitcoin does.

Though apart from the short term i wouldn't really worry about it to much, fees will eventually stabilize again and i am looking forward to seeing fees back at a few cents in the near future.

Cant really believe the words coming out of my mouth but in the mean time maybe use EOS. ( still unsure if that's wise though lol)

You can always check the top addresses on the Ethereum network at https://ethgasstation.info/

Uniswap is leading with the most transactions made. I hate it and I miss making a transaction with only 1 Gwei.

Here is a screenshot of the recent rankings:

Killrbit

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Activity: 224

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Quote from: Get-Paid.com on September 02, 2020, 02:13:02 AM

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

Yeah its the Defi hype and Uniswap that's clogging the chain right now, but maybe with the recent crash things should calm down a bit. All this just reminds me of crypto kitties and from 2017.

It also unfortunately shows that for all the talk Ether still suffers from the same scalability problems as Bitcoin does.

Though apart from the short term i wouldn't really worry about it to much, fees will eventually stabilize again and i am looking forward to seeing fees back at a few cents in the near future.

Cant really believe the words coming out of my mouth but in the mean time maybe use EOS. ( still unsure if that's wise though lol)

palle11

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Quote from: xOdiumNostrumx on September 05, 2020, 04:37:06 AM

Make your transaction at non-prime times, early in the morning or late in the evening for example, that way you can save a buck or two pretty quickly.

This is a part of the solution to remedy the high fees. I take this measure when I have no haste to do transfer but at times you need to do a quick one. Maybe sometimes you need a sharp buy when there is a fast drop of a value coin. You have no choice but to take the charge that way.

totoy4741

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Quote from: Get-Paid.com on September 02, 2020, 02:13:02 AM

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

Everything will get back to normal when all the hype with this Defi thing has subsided, but when that time comes I am afraid that we are in a bearish market so everything that you have longed to discharge during the bullish will just go to waste because of Ethereum high. It already happened before, it is repeating the process.

Malam90

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Quote from: imstillthebest on September 04, 2020, 10:43:12 AM

Quote from: Malam90 on September 04, 2020, 10:12:30 AM

Ethereum fees is now more than $8 that i have paid in the last few days. This is fraustrating for a single transaction. If this fees continue, Ethereum will lose its popularity and TRON, XLM will gain its place in the future.

thats fine if eth loose some users because in that way eth value will decline and its fees are also gonna get lowered while its also a plus point for the coins that you said but i dont know if its also possible for trx and xlm to have an expensive fees when their values are already high .

maybe not ? because trx and xlm are known to have a less fees ever since they are created .

Already ETH lost its value nearly 30% which is the result of extra fees in transaction. Most investors are trying to avoid Ethereum network transaction or ERC20 token transaction. Hence they are using TRX, XLM transaction for low fees and quick result. In future, TRX and XLM fees may high but people can love to think at present.

xOdiumNostrumx

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The fees are definitely insane right now, especially when sending ERC-20 tokens, but if you are not in a hurry, you can try to avoid the saturation peaks of the network. Make your transaction at non-prime times, early in the morning or late in the evening for example, that way you can save a buck or two pretty quickly.

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

You do realize that you do not have to pay the full price right? Ethereum is not like bitcoin, if you pay a little, like amount you used to pay for example, you could still get it done. Sure it will take some time for it to reach wherever you sent it but if you do not have anything you need to rush for, you should be fine.

I personally still use exactly the same as I used for the past 6 months and I am still doing fine, you can pay like 20-30 cents and it would still pass. It just takes a bit longer and that is why it is not suggested, but it doesn't mean it doesn't come. Instead of having it like in 5 minutes, you have it for like 4-8 hours depending on what you pay, which is a lot of time on a regular shopping or whatever but if you are doing some exchange stuff or whatever, you can wait no problem.

grizmoblust

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Quote from: tippytoes on September 04, 2020, 07:50:35 PM

Quote from: BitTraderCute on September 04, 2020, 07:41:43 PM

Quote from: ?? on ??

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

actually we this while checking transaction on tx id. so high gas gwei will confirmed first by miner. i think it is not fair system for all user, system must use similarity in every transaction like other blockchain . many people complaining about this fee , even binance CEO also tweet about it if core developers didnt solved this problem in eth 2.0 it will be serious problem for eth.

Let us all hope that ETH 2.0 will resolve some of the bottlenecks that ETH network is experiencing right now. Because if this will continue and will not be resolved, a lot of crypto users will find another network to use. But Buterin will not let this issue be forever, by now they are already finding ways how to address this problem. And hopefully, they will rectify this high gas fees problem.

Currently the ETH network is very high and for sure, if you don't fix this, investors will no longer be interested in this coin. I was charged up to $ 30 and this is actually a very high fee compared to what is happening. Hopefully Ethereum 2.0 will put an end to this situation as 90% of projects are using the platform of ETH for development.

tippytoes

sr. member

Activity: 1988

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Quote from: BitTraderCute on September 04, 2020, 07:41:43 PM

Quote from: ?? on ??

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

actually we this while checking transaction on tx id. so high gas gwei will confirmed first by miner. i think it is not fair system for all user, system must use similarity in every transaction like other blockchain . many people complaining about this fee , even binance CEO also tweet about it if core developers didnt solved this problem in eth 2.0 it will be serious problem for eth.

Let us all hope that ETH 2.0 will resolve some of the bottlenecks that ETH network is experiencing right now. Because if this will continue and will not be resolved, a lot of crypto users will find another network to use. But Buterin will not let this issue be forever, by now they are already finding ways how to address this problem. And hopefully, they will rectify this high gas fees problem.

BitTraderCute

full member

Activity: 899

Merit: 101

Quote from: ?? on ??

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

actually we this while checking transaction on tx id. so high gas gwei will confirmed first by miner. i think it is not fair system for all user, system must use similarity in every transaction like other blockchain . many people complaining about this fee , even binance CEO also tweet about it if core developers didnt solved this problem in eth 2.0 it will be serious problem for eth.

FontSeli

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Activity: 1218

Merit: 858

Quote from: Get-Paid.com on September 02, 2020, 02:13:02 AM

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

As strange as it sounds, the amount of transaction fees is chosen by those who send transactions on the network, i.e. you and I and many other ordinary people. Each of us strives to make sure that his transaction is completed as soon as possible. When miners form blocks, they choose the transactions with the largest Commission amount (the cost of gas) and form blocks from them.

zasad@

legendary

Activity: 1876

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https://cryptofees.info/
Look at these statistics, this has never happened in the history of Ethereum.
Smart contracts consume a lot of commissions, and it is still impossible to solve this problem, and the launch of phase 2 of Ethereum will not be soon.

L2 solutions use very few projects, so Vitalik's recommendation will not help
https://twitter.com/VitalikButerin/status/1300707752335962113

qwizzie

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Quote from: Divinespark on September 04, 2020, 04:49:58 PM

Quote from: abel1337 on September 04, 2020, 04:40:29 PM

Quote from: amonymous on September 04, 2020, 03:41:32 PM

Quote from: LazerPanther on September 02, 2020, 02:16:16 PM

I don't know when ETH fees can drop again, but if the current situation persists and many people are still interested in Defi projects then I believe ETH fees will go up $ 10 or even high more like that next time

When goes down eth price then gas fees reduce. Really 5$, $10 not small gas fees for a beginner trader or investors. Yes definitely right hype now and many investors want invest in defi project without analysis lol. Without research for a crazy investors thinking.

This kind of eth gas prices happened before and it will settle down for sure, I don't have any transactions now so I don't know what is the price of gas but I think it's really high due to the hype of this deFi projects that lead to network congestion. I am hoping that eth 2.0 will be released sooner than it's expected deadline.

Hopefully there won't be any delay for the upcoming ETH 2.0 update, if they continue to postpone it then I believe many people will be disappointed with it and stop investing in ETH. Btw today Gas has dropped quite a bit and now we only need to pay 1 $ to be able to make transactions.

and people will still be stuck in DefI projects that charge additional fees up to $100. These are separate fees.

https://cointelegraph.com/news/using-a-defi-protocol-now-costs-more-than-50-as-ethereum-fees-skyrocket
https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth

Quote

While the average Ethereum transaction fee is more than the daily income in many countries, the additional smart contract executions needed to engage with DeFi protocols
has seen users report fees of up to $100.

Basically you have the gas fee and you have fees for additional smart contract executions needed to engage with DeFi protocols. The last category fees are still very high ($50 to $100).
Don't get trapped in DeFi projects !!

Topic: Ethereum Fees - page 3. (Read 1016 times)