ETHEREUM GAS FEES MIGHT NEVER GO DOWN AGAIN - page 2.

rodskee

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Quote from: Anonylz on September 02, 2020, 02:03:30 PM

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.

SyndicateLabs

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Quote from: Anonylz on September 02, 2020, 02:03:30 PM

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).

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

Anonylz

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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).

kingzpro

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Quote from: BayAngelo on September 01, 2020, 12:20:15 PM

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.

The rise of uniswap alongwith the defi craze has proven to be troublesome for ethereum network as we are now experiencing never seen before gas charges and delays in transactions. Some users are also reporting long delays and cancellation of transactions. With a positive and hopeful attitude we still hope ethereum will come out of this but immediate action is required from the responsible people.

bayudndy

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I also believe it will never go down, except that Defi becomes a scam and is no longer popular in this market. That is the only way that ETH's Gas drops back, btw I'm amazed that it took more than $ 10 to make 1 transaction yesterday.

ecnalubma

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Can’t do business with Ethereum nowadays, no way that I’m going to pay such high fee’s and feels like you’re being robbed. Ethereum team should fix this mess, I recall Vitalik said in an interview that

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"The Internet of Money should not cost 5 cents per transaction. It's kind of absurd" -Vitalik Buterin

but what is happening now is insane. Its just unbearable and it’s hindering business to grow specially that we are in bull season.

Anarchy101

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One of the worst things about the gas fee surge is that we are missing out on the investment opportunity from the projects that are currently trading on uniswap. IMO paying $50 on the transaction fee is not feasible. If I am not wrong even BTC is a lesser transaction fee right now.

proscratcher

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Quote from: Pffrt on September 01, 2020, 01:20:57 PM

Transaction fee has been increased because the number of tx in ETH blockchain has been increased which barely have anything to do with the price. Apart from that, ETH supply isn't limited which over the time will create deflation. I don't think we will see ETH $1000 anymore.

Do you think 1ETH will worth more than $500 at any time in 2021? Just curious.

taufik0911

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Quote from: cepot9 on September 02, 2020, 12:26:44 PM

This has advantages and disadvantages, with that of course Ethereum slowly rises and is very profitable for those who hold Ethereum but the shipping costs will be more expensive and this can make several sectors affected. Like exchanges that have to always adjust their Ethereum withdrawal fees, bounty managers who have to postpone distribution and also bounty hunters who can't sell tokens or don't get tokens of their work on schedule.

This has a very big effect on transactions, usually I use ETH to make withdrawals to local exchangers from outside exchangers but now I think twice because the costs are arguably expensive and also the transaction speed is slow as you say
it seems that slowly ETH will be like bitcoin where the transaction fee will be even and the transaction speed has decreased drastically
I think it's vital to tackle this immediately because almost 80% (in my opinion) altcoins are on ETH or ethereum blockchains

cepot9

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This has advantages and disadvantages, with that of course Ethereum slowly rises and is very profitable for those who hold Ethereum but the shipping costs will be more expensive and this can make several sectors affected. Like exchanges that have to always adjust their Ethereum withdrawal fees, bounty managers who have to postpone distribution and also bounty hunters who can't sell tokens or don't get tokens of their work on schedule.

bobyhodob

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Quote from: Romanianz on September 02, 2020, 10:40:25 AM

let's wait until Ethereum 2.0 are ready then,
hope they will improve their high gas issue and everything Wink

When you see that the transaction costs or gas that is usually used to deliver ethereum are too large then it is very reasonable because ethereum has high prices and ethereum also has high demand so it will make shipping costs go up, if you want to make gas costs go down then ethereum prices must can be cheap means ethereum prices should not be expensive.

budi691

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when going to sell a coin which is worth $ 35 and costs $ 35 dollars too so what i got,
keep for longer the coins I'm going to sell in the hope that GAS costs will come back down, maybe that's what I can do.

Romanianz

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let's wait until Ethereum 2.0 are ready then,
hope they will improve their high gas issue and everything Wink

masterrex

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IMHO, This monstrous transaction fees increases have negative effects on the Ethereum network, because many users and projects were already affected by these sudden rises of TX fees let Ethereum know that they are not only the sole smart-contract provider some are already considering TRX, Credits and many more so If this greed will not stop I believe Ethereum will lose some of its users including some projects that using its ERC20 tokens.

aprilnot

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Today's GAS is so crazy, I thought it would slowly go down but in fact it keeps going up. I wanted to send ethereum yesterday and was surprised to see what it costs to pay for GAS. ethereum is no longer crypto with low fees. you know 400 GAS per transaction is a high amount. when ethereum was at its highest, GAS price did not reach more than 400. but at this very strange time.

Princejebs

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Quote from: Francis Freeman on September 02, 2020, 08:34:16 AM

Don't worry about gas price staying high forever. The eth price is high because of the bull market. It wi go down when the trading volume reduces.

With the way things are going, the defi hype is real and i don't see the volume going down soon except something happens that may clamp down the price.
It's all turn by turn and all happening in Uniswap exchange. Haven't you noticed recently that whenever yf1 surge, that's when ethereum gas fee use to increase, this is making many loose interest on ethereum adoption.

sarmrakib

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Quote from: @baoli on September 01, 2020, 12:39:33 PM

Despite it gain such adoption if this high price of transaction fees continues so many projects will abandon ETH. I want transfer token worth 200$ and gas fee was 35$, this is ridiculous. Currently , I prefer the trx network.

I also want to prefer the trx network .The way the gas fees increasing it is so tough to make any transaction .I did send 20$ yesterday and it cost 2.96$ gas fees it will so tough if the team don't work on it.

yazher

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You own the pen

This has happened before every time the ETH market is going well and unstoppable. The Gas fees have reached to some point that you will never think of using ETH again. I have experienced last 2018 when I sold some of my shit tokens and it cost the gas fee almost the price of my sold tokens. I mean, that was hilarious! right now, we are experiencing the same event but this will not last forever after the price will fall again. But we don't know if the price will decrease again and if the price will still increase then the Gas fees will reach its All-time high as well. isn't it?

rahmathidayat93

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Quote from: Inkdull on September 02, 2020, 07:52:30 AM

Just imagine if Ethereum reach 1000$ the gas fee will be unbearable, that's why I believe it's never going to happen unless the 2.0 upgrade is released right now, I wish Ethereum team have already saw this coming and speed things up with eth 2.0

It has already been imagined by everyone and you should also know that Ethereum tokens have reached prices above $ 1000 at the end of 2017 to early 2018, and the gas costs also tend to be stable and never even as high as they are today, so regarding the gas problem that high does not affect the price of a token, but on other things that we do not know for sure.

plr

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Quote from: @baoli on September 01, 2020, 12:39:33 PM

Despite it gain such adoption if this high price of transaction fees continues so many projects will abandon ETH. I want transfer token worth 200$ and gas fee was 35$, this is ridiculous. Currently , I prefer the trx network.

You are not the only one with this kind of issue it's the complaint of majority of traders and investors and investors are watching and waiting when things will go back to normal I'm using Doge and Banano Litecoin to trade to my local currency, I cannot even buy something online with my Ethereum, but I will never abandon Ethereum no way not at this point in time.

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