Ethereum now looks like a complete joke

Nighthog

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in this bull run it did not happen like in the others and not all the altcoins and tokens followed the upward trend of bitcoin many erc 20 tokens remained at medium-low values and the fees for their movement are about 15 $ !!! and for a swap even $ 30, sums unacceptable at least for me, even if eth is growing in value, i think i will abandon it, with all its tokens at least until the fees are reasonable again

In general if Crypto wants to win, fees have to minimal or nothing. Or the competition that does it will win the mindshare of users, being decentralized or not.

TimeTeller

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Quote from: JahriMeayer on February 24, 2021, 06:38:10 PM

Some good erc-20 tokens makes me disappointed cause they fail to pump at the level that they deserve. its okey as it isn't compulsory to pump altcoin along with eth.but its really annoying when we need to give high fee link $10-$15 for transactions erc-20 tokens.even the day before yesterday fee was around $30 to $35. I need to transaction my token but i decided not to do so now because of high fee.and unable to do trades on exchanges to exchanges.

You are not alone in this dilemma. And the bad thing here is, if the token that you want to trade with goes down already.
A lot of eth tokens decline its price as time goes by, as most of them can't achieve their goals.
So it is high likely that you will be holding worthless tokens or with low value tokens that is not worth sending to exchanges.
I hope eth team is doing their best to improve these gas efficiencies before a lot of people divert their attention to other promising platforms.

JahriMeayer

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Some good erc-20 tokens makes me disappointed cause they fail to pump at the level that they deserve. its okey as it isn't compulsory to pump altcoin along with eth.but its really annoying when we need to give high fee link $10-$15 for transactions erc-20 tokens.even the day before yesterday fee was around $30 to $35. I need to transaction my token but i decided not to do so now because of high fee.and unable to do trades on exchanges to exchanges.

zerogrown

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We can all agree about the ridiculous gas fees. But to think that ETH is still exploding, goes to show how big they are. DEFI and ETH 2.0 are the biggest factor for ETH rising. Ethereum is not joking anymore.

bryant.coleman

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Quote from: Mighty_crypt on January 11, 2021, 10:03:34 AM

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Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

From what I could see, it has gone much higher. When the OP made this post, the transaction fee was around $10. It has increased by almost 100% since then. Imagine this. A bounty hunter selling his token needs to dish out $40 just to move his coins (tokens from his ERC-20 wallet to exchange, and then ETH back to the personal wallet). If he receive $50 worth of tokens, then it will be reduced to just $10. This is so unfair to small scale users. And the situation with Bitcoin is even worse. I saw a thread, where an user mentioned that he paid $50 as fee for a single transaction.

SaveOurSea

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Quote from: lalabotax on February 11, 2021, 06:36:00 PM

True. Even if the price of Ethereum is increasing fast, we have a problem on gas fee. It is getting expensive and people who have ERC20 tokens are starting to feel uncomfortable with the gas price. I support the idea if it should be fixed to make all parties in crypto bussines take a part on the bullish trend happily.

very disappointing to have an ERC20 token and hold it in a wallet, it really frustrates me even though the tokens I have have increased by almost 50% and I will sell them, but GAS on Ethereum is very expensive, of course this prevents me from being able to withdraw in a private wallet to the wallet exchange, especially at the current Uniswap. Fees are also very expensive, we have to pay over $ 30 for one trade, terrible

lalabotax

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True. Even if the price of Ethereum is increasing fast, we have a problem on gas fee. It is getting expensive and people who have ERC20 tokens are starting to feel uncomfortable with the gas price. I support the idea if it should be fixed to make all parties in crypto bussines take a part on the bullish trend happily.

Maslate

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Quote from: motun01 on February 11, 2021, 06:05:43 PM

Before you say ERC 20 tokens are a joke, you should understand the reason why the huge pump happened in ERC 20 tokens back in 2017.
People initially believed that they missed out on the bitcoin price rally and they searched for the next best thing, and the crypto space wasn't saturated with shitcoins then, so it was a lot easier for cojns & tokens of average projects to pump hard..

We can't expect that these shitcoins will follow ETH as they are already in the dead for a long time. I may think that OP is making a joke as well, he might be holding those Sh...ns, he can't sell it as their value is smaller than the fees he pays for. Of course, I will never sell it.

Not sure but most altcoins holders now are wanting to sell their coins but it is the fees stopping them (I'm one of them, actually).
They just going to have some joke to ease their feeling and disappointments. It will be fine soon when the market slows down a little bit.

motun01

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Before you say ERC 20 tokens are a joke, you should understand the reason why the huge pump happened in ERC 20 tokens back in 2017.
People initially believed that they missed out on the bitcoin price rally and they searched for the next best thing, and the crypto space wasn't saturated with shitcoins then, so it was a lot easier for cojns & tokens of average projects to pump hard..

However this time around, everyone knows that BTC is still undervalued as it is so everywhere wants a piece of the pie and thus the low movement in altcoins

Twinkledoe

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Quote from: dainoran on February 11, 2021, 05:52:23 PM

Quote from: coinswebid on February 11, 2021, 05:19:14 PM

even now the fee was more than $25, and thats make me scare
to send ERC20 about $20 we need more than that amount to pay the fees,
hopefully eth foundations will give a good solutions about this in the near time

yes, the fees are quiet expensive right now. i'm sure that a little holders don't want to do any transactions right now. the bounty hunters and airdrop claimers also will avoid to get an ERC20 token since they just earn a little bucks from their work. their earnings will be run out for paying the gas fees. but ETH itself is good for invesment. they just have a fee problem to solve.

Eth 2.0 is not fully launched, so maybe this is the reason why we are not yet experiencing the effect of it. But I believe, eth team is already resolving this issue. Because if not, developers and other traders will just go to other platforms. But don't think that eth is a complete joke. If they are, they will not achieve this much in the market. Also, if people don't believe on eth, the price will not be like this in the market, attaining a new ATH.

dainoran

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Quote from: coinswebid on February 11, 2021, 05:19:14 PM

even now the fee was more than $25, and thats make me scare
to send ERC20 about $20 we need more than that amount to pay the fees,
hopefully eth foundations will give a good solutions about this in the near time

yes, the fees are quiet expensive right now. i'm sure that a little holders don't want to do any transactions right now. the bounty hunters and airdrop claimers also will avoid to get an ERC20 token since they just earn a little bucks from their work. their earnings will be run out for paying the gas fees. but ETH itself is good for invesment. they just have a fee problem to solve.

MCobian

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I think Ethereum is a good choice for investment. Even Ethereum's performance this year has been excellent. Indeed, regarding the gas fee of
Ethereum problem is very worrying, there is no best solution that can solve this problem, besides waiting for the fee to go down. But no project is
perfect, so the gas fee of Ethereum is very high right now. It's not that we aren't worthy of investing in Ethereum. I am also holding a few ERC20 tokens,
it is quite expensive gas fees when they are sent to the exchanges. There's no other way I'll HODL for a while, until the gas fee decreases.

coinswebid

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Quote from: Mighty_crypt on January 11, 2021, 10:03:34 AM

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

even now the fee was more than $25, and thats make me scare
to send ERC20 about $20 we need more than that amount to pay the fees,
hopefully eth foundations will give a good solutions about this in the near time

Saisher

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Quote from: optimisticcm on February 11, 2021, 03:35:23 PM

It is bull market and even in the last bull market we saw network congestions and high gas fee but even those issues didnt prevent ethereum price to moon so same will be the case this time around as well, some people will keep complaining and ethereum's value will keep rising.

But the complain is mounting and if this take a long period of time, we'll see a migration of users from Ethereum to another chains, there's a lot of new chain coming in and they could become a serious threat for Ethereum in the future, if you check this section what we all see are complaints coming from unsatisfied users, this cannot keep up longer.

optimisticcm

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Quote from: Mighty_crypt on January 11, 2021, 10:03:34 AM

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

It is bull market and even in the last bull market we saw network congestions and high gas fee but even those issues didnt prevent ethereum price to moon so same will be the case this time around as well, some people will keep complaining and ethereum's value will keep rising.

milewilda

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Quote from: Ureung jameun on February 11, 2021, 03:21:28 PM

Quote from: Mighty_crypt on January 11, 2021, 10:03:34 AM

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

the increase in transaction fees made me delay all transaction processing until the transaction fees were low again. because I don't have enough capital to finance several altcoins in my Ethereum wallet (Erc20). for now I can only wait for the transaction fees to return to normal. I hope ethereum developers do their best for the convenience of Eth wallet users soon.

I had missed lots of opprrunity to make some profits due into this fee problems. I have several coins that are on profits but but not really that big but making out several transactions can really fuck it up thats why i decided not make out transactions and wait up for fees to subside before continuing but of course i have to deal with less profits due to ik being much late since those coins are already in correction.solution? They should really find off because if situation would continue like this then i would really doubt on what would be the future lies ahead for eth.there are lots of alternative that can be chosen and can be used by masses.

Ureung jameun

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Quote from: Mighty_crypt on January 11, 2021, 10:03:34 AM

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

the increase in transaction fees made me delay all transaction processing until the transaction fees were low again. because I don't have enough capital to finance several altcoins in my Ethereum wallet (Erc20). for now I can only wait for the transaction fees to return to normal. I hope ethereum developers do their best for the convenience of Eth wallet users soon.

bitcoinst

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Don't be silly. Ethereum is as strong as ever.
Compare with Bitcoin, it fell by almost 30%, while Ethereum fell by about 20%, and it is likely that the next time the cue ball rises, it will beat ATH.

ene1980

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Quote from: m2017 on January 17, 2021, 02:27:44 PM

What are the chances that SEC will regulate this project? If this happens, the price will collapse. If this does not happen, then Ethereum has a good chance to rise in price.

There is a high chance that SEC will intervene when the price is rallying high taking the market down, with happened with XRP and the lawsuit, i am expecting something similar as ETH also conducted an ICO and collected money from everyone even from the US and i am sure they will cite this reason and file some sort of lawsuit in the near future.

m2017

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What are the chances that SEC will regulate this project? If this happens, the price will collapse. If this does not happen, then Ethereum has a good chance to rise in price. If BTC has updated the previous maximum in price by 2 times (from $ 20k to ~ $ 40k), then ETH should rise in price by at least 2 times, and this turns out to be ~ $ 3k-4k.

Topic: Ethereum now looks like a complete joke (Read 1156 times)