Ethereum Fees - page 6. | Bitcointalksearch.org

Get-Paid.com

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Quote from: kayvie on September 02, 2020, 06:59:31 AM

Yes it will. The reason is because of defi projects. We can't do anything about that, for the meantime, the only thing we can do is to wait for everything to go back to normal and for the launch of eth v2. This will probably help to get everything back to normal especially the high fees that we are facing right now.

When will ETH v2 be launched?

rajsimran

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Quote from: Get-Paid.com on September 02, 2020, 03:21:38 AM

Quote from: dansus021 on September 02, 2020, 02:43:59 AM

anyway you can still send your eth with low fees

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)

You can use low Gwei but high risk to reverse back the transction. It will pending for 1/2 weeks then it will be back to your wallet. I saw a lot of posts that transction was declined and reverse back to the wallet. better to choose 100+ Gwei. If you want to make trx and don't want to reverse the trx.

tycsols

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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?!

It is just like paying premium in real life to the products where ready delivery is not available and people pay extra to get the product. Similarly, now in case of ethereum network congestion the real cause is that people are rushing like crazy to pick the coins and tokens in anticipation of big bull run which everyone is sure of now so to do this they are paying extra money but ethereum network should take responsibility and tell people when the transaction fee will be back to normal?

Baimovic

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In my opinion, the increase in the cost of ethereum gas is due to the many Defi projects that have appeared, I noticed long before the Ethereum price rose and before the Defi project appeared. We can differentiate between this case, but I think one day it will return to normal, if the gas cost gets higher, then this will affect crypto users, especially ethereum investors.

soulripper

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The fees going too high because the overload transaction traffic that push the gas also high that why the price of fees are ridiculous high and might not even worth for small transaction currently. Better to wait for the gas getting low back before using it again as it not worth for small trader to spent $5-$10 just for gas.

LazerPanther

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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

amonymous

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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.

articlecity

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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?!

The high fee is due to congestion of the network, it is simply happening because the no of transactions are exceeding the capacity of the network that is why miners are charging more fee to validate the transactions first.
But i have seen that if you try to make transaction other than peak times, especially late night you will see less fee and fast confirmation.

Fredomago

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Quote from: blckhawk on September 02, 2020, 08:38:24 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?

Perhaps it will back into normal just wait until ETH 2.0 release. Fees increases because the hype of DeFI and transaction tend to be congested, just for us to sort that out is to increase the gas. Increasing the gas would be just painful especially if you are a small trader. Probably the best solution is to hold that for the meantime or perhaps change to the other platform.

It's affecting small traders and bounty hunters, with this such high fees most of us are avoiding the process of sending our coins.

It's annoying since we are only transacting with small amount of assets but we need to pay more, the bad
side is when the token value dumped down, instead of having some good benefit, you'll lose all those opportunities
due to this high transaction fees.

kamadazje

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Once there are plenty of transactions that happened at the same time, this usually happened as I experienced it last peak of the market but it revert to normal after few days. So you don't have to worry because it will revert back to normal maybe few days from now. You can just use other currencies aside from Eth if the transaction fee of Eth is still that high. You can use EOS or other currencies that has a very small transaction fees also.

blckhawk

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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?

Perhaps it will back into normal just wait until ETH 2.0 release. Fees increases because the hype of DeFI and transaction tend to be congested, just for us to sort that out is to increase the gas. Increasing the gas would be just painful especially if you are a small trader. Probably the best solution is to hold that for the meantime or perhaps change to the other platform.

restuibu

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of course the gas will return to normal if the Defi hype is over or a little calmer, but we don't know when that happens, now there's nothing we can do, if it only has a little value in the altcoins we want to sell we'd better have to wait a little longer

MonsterV

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The high fee situations will continue for a several month along the DeFi hype, i guess people will start moving to another altcoin to made daily transactions to have cheap transactions fee for doing any transactions for gamble or trading, personally im not doing any transfer because current gas price is very massive due of DeFi & Uniswap DeFi, to send contract token you need atlease 10$ in fee because contract transactions will consumed you much gas limit or its will be failed to transfer, just avoid to do any transactions regard eth until the gas price is drop.

qwizzie

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Quote from: kayvie on September 02, 2020, 06:59:31 AM

Yes it will. The reason is because of defi projects. We can't do anything about that, for the meantime, the only thing we can do is to wait for everything to go back to normal and for the launch of eth v2. This will probably help to get everything back to normal especially the high fees that we are facing right now.

ETH 2.0 will be released in phases. Guess which phase will fix Ethereum network congestion and the associated high gas fees ? (Clue 1 : it is not phase 0)

Link : https://consensys.net/knowledge-base/ethereum-2/faq/

kayvie

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Yes it will. The reason is because of defi projects. We can't do anything about that, for the meantime, the only thing we can do is to wait for everything to go back to normal and for the launch of eth v2. This will probably help to get everything back to normal especially the high fees that we are facing right now.

ReiMomo

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If bitcoin has mempool that every transaction I guess maybe clogged up anytime. The same as Ethereum network, due to this defi projects and the most projects that operate using the network of ethereum.

Back to normal? I guess this maybe take the time or it becomes never. I suggest if you have a transaction just paid a higher amount because it takes days before it will confirm the network.

rdbase

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Blame it on those defi projects getting their users to make transactions on the ethereum blockchain.
Just look at LNK and what mess it has put their chain in and not to forget about that YAM scam project. Roll Eyes

These exchanges which use these ethereum based assets to "swap" are causing the gas fees per transaction to go up.
I read an article recently about how they skyrocketted to over $500mln in just one day alone. Embarrassed

foxy

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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?!

I just had to pay around $48 to transfer $8 worth of ETH. The developer team really need to do something about it because it's getting out of hand now. I just hope they will release some update before the launch of ETH 2.0

Genemind

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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.

Bitcoin Miners

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Roobet

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?!

I have just paid 4.9 USD for one transaction when transferring ETH to the exchange and this fee will increase as the price of ETH rises in the short term and it will be decrease when the price decrease and transactions on the network decrease

Topic: Ethereum Fees - page 6. (Read 1016 times)