Topic: Ethereum fees are crazy... - page 4. (Read 1220 times)
Small traders are surely suffering ETH straight up robbing our profits, even if you choose a time that the network is not loaded it's still inconsiderable we don't even know when these high fees will end but Ethereum needs to fix their fees or release Ethereum 2.0 faster.
That's absolutely true nowadays ethereum gas fees are skyrocketing but no need to worry because this problem is temporary I guess we are facing this problem because nowadays there is a lots of craze of decentralised finance (defi) but I think after some months this craze will be gone and ethereum will charge low gas fee which is normally used to be
This is the current problem, doing transactions with high fee is not helping traders, spending close to $50 daily only on transaction fee don't worth it atall, this can only change if eth falls back to $150-$200 which I don't see coming anytime soon.
The high gas transaction fee is the result of network congestion and the traders also hesitate to send a transaction with a high fee or not. The fee doesn't worth paying big amounts over $10, especially in decentralized exchanges that run on P2P trades. The traders should prefer to use centralized exchanges and avoid paying the high network fees in the ETH network. Checking the GAS comparisons websites will give an idea when to send the transaction but it will cost higher than normal day. ETH 2.0 should solve these mentioned problems, I hope it will get fully released by ETH developers soon.
This is the current problem, doing transactions with high fee is not helping traders, spending close to $50 daily only on transaction fee don't worth it atall, this can only change if eth falls back to $150-$200 which I don't see coming anytime soon.
That is the problem we face during the bull run. One of the stated advantages of adopting cryptocurrency as a means of payment is very fee of transaction but it doesn't seem to be so when we're in this type of period.
It is a good indicator that Ethereum becomes really used and worthy, but on the other hand, it shows that currently, Ethereum is not suitable for massive adoption, it can´t process the pressure and the number of transactions, that lead into higher fees and slower transactions.
Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in a near future can be lowered?...
If you do not have enough money in your wallet for commission you can try to send a transaction on a weekend at night, usually at this time traders rest and the cost of gas in the Ethereum network is significantly reduced.
Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in a near future can be lowered?...
Fees dont depend on valets fees depend on a chain you are using. I would assume you are talking about Ethereum asset platform. Here you can see an average fee each day. So you see they change https://ycharts.com/indicators/ethereum_average_transaction_fee
Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in a near future can be lowered?...
Unfortunately, this problem will manifest itself whenever the Ethereum network is under heavy load. The solution to this problem will be the transition of Ethereum to the 2.0 platform, but now the DeFi platform Uniswap is affecting high fees. It's hard to say how long this will last, but we need to hold on and believe in the best. Try to make an exchange when the gas price is minimal, usually at night, when some of the users are asleep.
Ethereum fees are getting crazy due to the hype defi, especially after yesterday's unexpected incident about the UNI airdrop which made Ethereum's fees even more expensive. on the one hand it seems to have something to do with Ethereum 2.0. maybe after ethereum 2.0 at the release of ethereum costs start to return to normal.
Really it is painful situation. Ethereum fees is so high and personally I'm unable to send lower transaction only because of gas fees. Hopefully it will fix very soon.
I think the high cost of ethereum gas has something to do with Defi, see for yourself that most of the Ethereum users make transactions on the UNISWAP platform and keep the network busy. If I'm not mistaken, this problem happened in 2017, when there was a project hype and it had an impact on Ethereum's gas costs.
Do we know if there is anything that could be done about this? I mean surely there must be but I just don't know about it at all, do you guys know? It sounds like people are too much hyped about all the defi stuff these days and eth blockchain is clogged beyond recognition right now, it is getting to an absurd levels of funny fee's at this moment.
I remember the cryptokitties period and how it was clogged there as well but nowadays we are ready for something like that again, but this is muuuuuch bigger so it wasn't ready for something like this. Same with bitcoin for example, during 2017 peak times transactions peaked as well, if we have the same transactions things would be cheap but we have even more nowadays. So what is the solution to make them cheaper and faster again?
I remember the cryptokitties period and how it was clogged there as well but nowadays we are ready for something like that again, but this is muuuuuch bigger so it wasn't ready for something like this. Same with bitcoin for example, during 2017 peak times transactions peaked as well, if we have the same transactions things would be cheap but we have even more nowadays. So what is the solution to make them cheaper and faster again?
It is possible that if the erc20 network users are still busy, the fees will continue to increase and will not go down, actually this is the busiest usage as long as ETH has been made even beating the use of density during the 2017 bullrun.
I myself feel annoyed, but for a while every day eth gas can go down even if only for a moment.
So after many years Ethereum doesn't have any change? I wonder why they still in top 2 marketcap now. Many new blockchain with higher speed will replace them if Ethereum 2.0 doesn't solve that problems. I myself feel annoyed, but for a while every day eth gas can go down even if only for a moment.
I lost around 0.12ETH yesterday (nearly 50$) for just 2 transactions, and 10 minutes to receive that Tx. What a ridiculous fee. If they can't change, soon they will lost the users to new platform with cheap fee and fast transaction like Serum recently.
Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in a near future can be lowered?...
It is inevitable, the space in each block is limited and the demand is high and we know what happens when that is the case right? The price of that thing goes up, which means the price you need to get a confirmation on the Ethereum network is very high at the moment, this is really bad especially for small investors as they may find the price of the transaction itself is higher than the price of their coins effectively making a bad business decision to get rid of their coins, and if you happen to be a trader those fees could kill any profits your system may give you making impossible to trade in a profitable way. 
Ethereum blockchain is really suck. After 3 years nothing solved. I remember at the end of 2017 when crypto goes crazy samething happen with ETH. And now for 3 years development they still not improve their network.
There is hope for a reduction in fee gas of course there is, but because currently there are so many transactions that keep fee gas from going down, many people who have jumped into the world of cryptocurrency have complained about this.
Yes of course, GAS fee make me crazy....
But, if we have token or coin with high values maybe this fee its ok.
And i don't know why this fee very high right know. Maybe anyone can explain me ?
ETH's increasing transaction fees are due to the fact that Uniswap has a huge volume of transactions and all has to go through the Ethereum platform. That is what no one wants but due to the fever of the Defi trend, everything is on the foundation of Ethereum. When we invest, we have to bear those costs, and that must be the case for everyone.But, if we have token or coin with high values maybe this fee its ok.
And i don't know why this fee very high right know. Maybe anyone can explain me ?
Also, if you need to move money from one wallet to another then I don't think we should use Ethereum at this point. The fee is very high and it takes a lot of time to process the block. We should use XRP or Litecoin instead of BTC or ETH.
Right now, ETH fees feel very expensive, I also hope that in the future there will be other alternatives in transactions because more and more investors make transactions so that the fee is also higher.
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