Topic: ETHEREUM GAS FEES MIGHT NEVER GO DOWN AGAIN (Read 434 times)
It will cause more problems in the future due to the increasing popularity of DEFI altcoins and the decentralized exchanges will not make it lower for the obvious reasons. Gas tracker websites shows that around 150 gwei is required for sending transaction and fee increases every day. In my opinion, holding the gas fees on these levels will cause more problems and it will be the start point of the end.
It would be very big trouble if that happened because there are still many tokens that use the ethereum blockchain network, I have wanted to send tokens many times but disappointed by high fee gas and this was very detrimental to small players. For whales, it might not be a problem, but for small players when gas is bigger than the assets it is a headache. Hopefully things get better later or everyone will prefer to use the trx network.
It is very burdensome, especially for me as a user of small transactions. I really hope that gas fees can go down again so that I can resume transactions, both in large and small amounts. However, if that is not possible, it seems like my solution should switch to another block, for example moving to TRX.
Now there is some possibility to reduce ETH gas price because defi hype is going down for now. As you see ETH price falling.In fact all ATLS Coins price are decreasing including ETH. Bitcoin price dumping as well. ETH gas rate still high but Will dcrease after defi hype gone forever. Let's see.. When it happen
It would be disastrous to have the Gwei hit 1000, because several persons would stop using ethereum for transactions. I personally won't use any Gwei that is above 100 and would even prefer to wait until the value drops to less than 50 Gwei. Its rather unfortunate that the value of gas fee has increased this much as ethereum is no longer competitive with other platforms like tron and eos.
Gas increased because of the demand for Defi of many investors. It has caused a lot of trouble for other projects and those who want to move tokens, it's hard to believe since each transaction costs about 4-5 $ and that's really a lot of money. Hopefully in the coming time, new Defi projects will use other platforms such as TRON, Cybermiles .. To be able to reduce the gas fee of ETH
Yeah that's seems right to me as well. ETH gas price is going higher & higher more and more.Defi is flooding on market right now.We hope eth gas price reduce soon otherwise people will start to use TRX soon
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The only way for Ethereum gas fee to get cheaper is if the price goes down, I've been tracking gas fee using this website since 48hrs now (https://ethgas.watch) and there are minutes or hrs that the gas fee goes lower but still it isn't a big difference
Except that will only decrease the gas fee temporarily, when people realize that the money they spend for paying the gas fee to get their transaction confirmed faster is cheaper because eth price is falling down they might increase the fee relative to what they think "enough" and then the bar will set high again for the gas fee.The gas fee will indeed not gonna go down again anytime soon because uniswap and to be honest people who uses ETH to send money should just switch over to another altcoins.
The only way for Ethereum gas fee to get cheaper is if the price goes down, I've been tracking gas fee using this website since 48hrs now (https://ethgas.watch) and there are minutes or hrs that the gas fee goes lower but still it isn't a big difference
With the recent situation, i don't think in any way that the gas fees will ever go down and we might see ethereum prices hit 1000 again.
what if the price Hits $1000 IN 2022 Meaning This fees will Hold high till then?i doubt it is true.
Maybe this will not take long from this day,since the price of ETH is geting High and low.
This is not fare, we are suffering here and I don't know what the eth team are doing to lighten our situation, this high gas price is making us suffer, even we have small token to transfer but we can't transfer because of high cost, i wish many project are not erc20 tokens, things would have been a lot easier.
Nothing you can do but wait mate,either fair or unfair yet we are only User and No one can help us in our sentiments.I avoid using ETH now for conversion and i chooses ripple so i can save some Bucks.
Yesterday I saw such huge commissions that even 2017 is not so terrible))
people burn their money with expensive gas costs, I can only wait for the time to withdraw my money also in forkdelta, I still have some ETH there it seems that withdrawing will be very costly at this time, so what can be done now is to wait for gas prices down, somehow the price of ETH is still going up while this gas cost problem really annoys us when the market really starts to grow
With the current situation of things in the ethereum blockchain. i think the ethereum has gain much value and adoption with the rate at which the DEFI markets are gaining attention. Uniswap exchange, the number one leading exchange in terms of ethereum token trading volume has made tremendous update where blockchain projects and DEFI can list their own markets(list tokens and their trade pairs) within the UNISWAP platform. such introduction will continue to increase as the DEFI market continues to dominate.
With the recent situation, i don't think in any way that the gas fees will ever go down and we might see ethereum prices hit 1000 again.
With the recent situation, i don't think in any way that the gas fees will ever go down and we might see ethereum prices hit 1000 again.
Honestly, Ethereum gas fees is increasingly mad nowadays. Just yesterday I wanted to withdraw an ETH blockchain based token I got through airdrop on CCTIP bot, I couldn't believe the gas fee. I wanted to withdraw $23 worth of tokens and the gas fee was $22.5 worth of ETH... So insane. Recently, Binance is considering increasing the gas fees of all Ethereum based tokens on the exchange. I think ETH foundation just have to do something about this.
During the all-time-high price of Bitcoin (BTC) IN 2017, it also struggled with the same thing. The transaction volumes went through the roof and people from the Ethereum group promoted Ethereum as the Bitcoin killer and a alternative payment option or currency. 
Now the price of Ethereum is going through the same thing and with the introduction of the gas ...transactions are becoming ridiculously high. Bitcoin did not except the situation lying down, the developers innovated and they created the Lightning Network as a side chain solution and currently with SegWit, miners fees are not an issue anymore. (Transactions are Lightning fast and super cheap)
Can Ethereum developers do the same?
Now the price of Ethereum is going through the same thing and with the introduction of the gas ...transactions are becoming ridiculously high. Bitcoin did not except the situation lying down, the developers innovated and they created the Lightning Network as a side chain solution and currently with SegWit, miners fees are not an issue anymore. (Transactions are Lightning fast and super cheap)
Can Ethereum developers do the same?
-snip-
With the recent situation, i don't think in any way that the gas fees will ever go down and we might see ethereum prices hit 1000 again.
With the recent situation, i don't think in any way that the gas fees will ever go down and we might see ethereum prices hit 1000 again.
I am sure, if this is not fixed soon the developers will choose another chain, which as well as ETH holders will rethink whether to keep using ETH or switch to other altcoins that are cheaper for transaction fees, of course, this will reduce interest in adopting ETH as a method payment.
That is what im afraid of. If Ethereum gas fee continue to stay high, many people will not prefer to using Ethereum anymore.
DeFi platforms are not only in Ethereum, there are on several blockchain like Tron or EOS.
Maybe Ethereum foundation team should find a way to reduce the Ethereum gas fee.
DeFi platforms are not only in Ethereum, there are on several blockchain like Tron or EOS.
Maybe Ethereum foundation team should find a way to reduce the Ethereum gas fee.
The solution that can be used is maybe using a product token from dex 1inch, namely CHI Gastoken because they claim it can solve a little problem with Ethereum gas, which is very expensive, but it just seems that it only works on transactions made on their dex but for other dex it looks like CHI the token still doesn't work.
This is not fare, we are suffering here and I don't know what the eth team are doing to lighten our situation, this high gas price is making us suffer, even we have small token to transfer but we can't transfer because of high cost, i wish many project are not erc20 tokens, things would have been a lot easier.
I don't really know why the cost of ethereum gas is high, but if you look at the market sector, it is likely to be influenced by the increase in Ethereum prices itself, from another point of view it may be related to the Defi project that is trending. But my prediction is that the cost of gas will drop after the launch of ethereum 2.0.
It is unbelievable how the gas price keeps going up none stop, and the worst part is most project are on the Ethereum network which means whether we want to or not we have to pay this high fees to make any transaction, and it seems this will go on for some time before things will go back to normal (i.e if they will ever will).
You said it right. Nothing to we can do right now as the hypes of DeFi still killing the momentum, we can
do nothing but to play our cards and follow the process.
Paying huge fees in order to transact and continue the cycle, unless you can wait and you are willing to
lose the opportunities it's everybody's call.
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Agree with you, the gas charge becomes too high compared to before. I still remember a while ago I only needed $ 0.2-0.5 per transaction, but now I have to pay $ 5 for the transaction to be confirmed. That was a lot of money for me
And that's really sucked, you cannot sell now those junked tokens inside your wallet, seriously this fees
is really pain in the ass. The only option if you don't want to pay this high fees is to keep your assets and
forget about using this chain for a while.
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