Topic: Ethereum Fees - page 5. (Read 1036 times)
Currently, there are indeed many investors and traders who complain about the high price of gas being charged. Gas costs will usually return to normal when transactions are not as busy as they are now.
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 .
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?!
We are deciding the fees! 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?!
When someone see the network is clogged so they are increasing their gas fee for faster confirmation which is getting into a chain reaction as long as number of transaction is in the process is high.Even there won't be any surprise if it reaches $20 for smaller transaction due to defi shits.
you can still set the fee at minimum but don't expect it to be confirmed anytime soon. the fee dictated based on the transaction that needs to be confirmed and how much most of them pays nowaday. it's by any means not dictated by centralized party or such.
some exchange might set the fee higher just to make sure that the transaction they send gonna be confirmed regardless how long it takes rather than giving a cheap fee and got the transaction returned. it is what it is and don't expect the high fee to go away soon because i doubt it will.
some exchange might set the fee higher just to make sure that the transaction they send gonna be confirmed regardless how long it takes rather than giving a cheap fee and got the transaction returned. it is what it is and don't expect the high fee to go away soon because i doubt it will.
Imagine if you have to move small amounts of transactions, the fee is ridiculously high due to the DeFi hype. The network is clogged and many transactions are not going thru, you will have to increase the gas. This would be a pain for those who are trading and projects who distributes rewards to their investors monthly.
The fees maybe higher to the rewards they are going to send. There is a need to create ETH 2.0 as fast as possible due to traffic brought by DeFi Projects its been harder to do transactions, those who only trade small amounts will not feel their profit due to this. 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?!
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?!
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. Recently i have watched its GWEI reached 480 which is the highest record in the ethereum history previously we used only 8-20 GWEI. Many peopler are blaming DeFi for it but i don't want to blame other reason.
Actually this problem is not only once a year, even a few years ago Ethereum transactions experienced something similar which made many people have to wait so long, It is impossible if the working team does not know this, or it could be just their game to block the development of all prices at the market, or indeed there are obstacles that make the transaction system require quite high fees, because the transactions I am doing are hampered by this problem ..
Same problem we was facing 2017 year. It's really high gas fees to me due to congestion of the network. In my opinion, it is a wall for small traders and bounty hunters to issue tokens with such high fees. I want transfer some token in exchange but it never possible because $5 no small amount for a poor trader.
on 2017, there is diffrent issue with ethereum network, because its only attacked by Dapps contract which its could be controlled , and the gas is not like today, the most high on 2017 that i remembered when Kitten are very populars, its below 200 GWEI, but DeFi trend drive the ethereum gas price to 400+ gwei and its very crazy compare to old tren kitten.
I'm still yet to fathom what could be the reason for the crazy hike in transaction fees in the ethereum blockchain. I'm sceptical if it could be an intensional move by the miners or due to the congestion of the network. As it stands there's great need for scalability. I really hope that something would be done quickly, because people are getting discouraged.
I also think so, because the gas costs are so high everyone cannot make transactions via the ERC20 platform, so until now very many people are disappointed with Ethereum, because the increase in gas costs is happening slowly this year.
As long as defi hype is here expect eth fees will be higher in the coming months as more investors throw money into digital currency I saw too many new yield farming projects everywhere almost every hour I see new one like yffi, yfv, yfib,yfbi this makes eth network congested and everyone wants as faster transaction spending more gas each and every transaction and demands goes higher everyday.
I'm still yet to fathom what could be the reason for the crazy hike in transaction fees in the ethereum blockchain. I'm sceptical if it could be an intensional move by the miners or due to the congestion of the network. As it stands there's great need for scalability. I really hope that something would be done quickly, because people are getting discouraged.
I also think so, because the gas costs are so high everyone cannot make transactions via the ERC20 platform, so until now very many people are disappointed with Ethereum, because the increase in gas costs is happening slowly this year. 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?!
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?!
I'm still yet to fathom what could be the reason for the crazy hike in transaction fees in the ethereum blockchain. I'm sceptical if it could be an intensional move by the miners or due to the congestion of the network. As it stands there's great need for scalability. I really hope that something would be done quickly, because people are getting discouraged.
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?!
Ethereum is growing in value and it's certain that gas fee will also grow higher, this is what happens whenever bullrun returns but there is more to this, DeFi projects are mostly running on Ethereum smart contract and that's what's causing the congestion, Ethereum 2.0 will be the solution but we don't know exactly when this will be ready 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?!
What are the chances that Vitalik's developer team will release some sort of fork that will make the network a bit more scalable before the launch of ETH 2.0? Or we will have have to ride a high fee phase until 2.0 launches?
Slim to none maybe. Considering that they are already busy with ETH 2.0 which takes so many delay until today they don't seem to have any solution to the problem we face as of now and UNISWAP is gonna be a long loong time before the hype fades and traffic from them didn't flood the whole network. The current ETH is literally unbearable with all the high fees even in my opinion we better off without the 2.0 as long as the scalability issue being resolved otherwise it's the same condition as now. 
Coin Trader, do you have any estimate when the fees would go back to normal? How many days from now?
I don't think there is an estimated date to when it will go back to normal.
We will just have to wait for the hype to calm down.
Who knows when will that be.
ICO's took like a year before everything settled down. But this one. It looks like its going to be short when more scams are found out.
Hypothetically if we would use a Transaction Speed aka a fee of 25 Gwei - would the transaction go through eventually after several days or it could drop? i.e. should we just wait for fees to go down or we can use low fees now and the transaction would eventually go through?
(Enclosed a screenshot from MyEtherWallet showing the lowest suggested fee is 480 Gwei at the moment)
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You can see safelow gas at ethgasstation.info but I don't recommend you to use lower gas because it will hinder your transactions. It's better if you use standard gas to make transactions, at least it will only take about 1-30 minutes even it can be faster or more long depending on transactions that are on the ethereum blockchains
What are the chances that Vitalik's developer team will release some sort of fork that will make the network a bit more scalable before the launch of ETH 2.0? Or we will have have to ride a high fee phase until 2.0 launches?
Exactly, it costs $ 5 to send normally, and $ 30 to execute a smart contract. It's crazy, people have to queue up and wait for the transactions to confirm, the miners are bountiful. Given the high-cost situation, I don't think etherem is decentralized because it's actually too bad right now and the benefits are only really for miners and those who pay a lot of money to get a transaction confirmed faster.
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 return to normal if people stop buying ETH and also don't make any transactions, just my view is why the fee fees are expensive?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?!
many mafias take advantage of this situation, for example mining companies or large miners make or collaborate with investors to make ERC20 tokens with different project concepts, they waste money using high gas costs, they buy and sell these tokens on uniswap so that other people also will do the same thing, namely increase the cost of gas to quickly confirm, the advantage is that miners get more rewards from each block as well as investors get other benefits
There are no one dictating the ethereum gas fee, but there are some users that have using the high gas fee.
You can see here https://etherscan.io/gasTracker , the Uniswap router is the one who using high gas fee.
They are using very high gas fee so their transactions can be done quickly.
You can see here https://etherscan.io/gasTracker , the Uniswap router is the one who using high gas fee.
They are using very high gas fee so their transactions can be done quickly.
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