Topic: I'm scared of ethereum gas fee (Read 1911 times)
Everybody is scare of ETH gas fee now, the purpose of blockchain is to be cheaper than that of traditional way of doing transactions. But ETH has been doing the opposite for almost two months now.
because it still uses POW, it is only natural that gas costs can be very high. but take it easy because ETH has a plan that converts PoW into PoS, so the gas costs will be cheaper later because the block verification costs are more efficient and environmentally friendly.
The same question crossed my mind because of this problem when I was doing some transactions several days ago. We were really worried about it and had to pay a higher gas fee for the transaction. Hopefully, this will be addressed soon with the release of Policy 2.0. Sooner or later the fees will be normal. If all goes well, gas prices will fall and output will increase through transactions. I pray and hope that the high fees will come to an end.
Yeah this is what I am worried also as I am an ethereum user, I like using Ethereum in most of the transactions that I have as it has a lower fee compare to bitcoin but right now
it's fees is not that cheap already and it can easily increase base on what I have notice.
I hope the Ethereum team can do something about it because I am sure that it can surely affect the users of Ethereum if this will continue, the same with me I think I will be force to use other currency that has a lower transaction fee if the Ethereum gas fee will not be that stable.
it's fees is not that cheap already and it can easily increase base on what I have notice.
I hope the Ethereum team can do something about it because I am sure that it can surely affect the users of Ethereum if this will continue, the same with me I think I will be force to use other currency that has a lower transaction fee if the Ethereum gas fee will not be that stable.
What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.
Don't worry, Ether version 2.0 is just around the corner, and even now the commissions for transactions are not so expensive, when the commissions rise more than 100 gwi, I prefer to wait I don't think the Ethereum network congestion can reduce with time.
for now ETH transaction fees have been a major issue to resolve, so they have try a number of solutions, such as EIP 1559 (being approved on filecoin), upgrading of the old Ethereum Proposal, payment protocols and shared file sharing. This has successfully improved the platform's cost structure and it is our hope there
What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.
I don't think the Ethereum network congestion can reduce with time.
Natural selection, if gas price is super high people will stop using it, which will lower the price and ultimately the gas price. Eth price and gas price can't simultaneously shoot straight up, since people will stop buying/using it. Most of the tokens are garbage scams anyway.
What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.
To reach $2000 it's so hard for now, so don't worry to much about that, and i think developers also think about it, That's why they want to release ETH 2.0. And we all hope ETH 2.0 will provide a solution for the gas fee. For now, I think we're all waiting to reduce fee because ethereum fee is the most important thing should be fixed I don't think the Ethereum network congestion can reduce with time.
What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.
I don't think the Ethereum network congestion can reduce with time.
Gas fees are only normal for Ether transactions even though Ether's price is up to 2k. The problem with token transactions using Ethereum smart contracts. This has happened in the last month when DeFi tokens soared, the transaction fees were very high, while sending Ether remained normal.
As of late, the cost of this gas is not really that stable, if you are going to compare it with previous costs, making it very hard for users to make transactions to and from wallets to exchanges. This needs to be handled by the devs as soon as possible or they will lose interest with the coin in the long run. Many are not that patient enough to wait for developments and it may spell trouble for Ethereum.
Maybe the last problem was for fork of Ethereum and now it is for Ethereum 2.0. During the development of anything, we have faced so many problems. You are right, in a few hours I saw a different transaction cost to send the same ERC-20 tokens. I think the Ethereum transaction cost will not be higher than now. I'm also scared to make transactions with a few valuable tokens.
High gas fee worries me as well. I don't have much in ETH or ERC20 tokens and so following best practices by keeping coins off exchanges gets expensive
I don't think it's possible for Ethereum to reach a value of $ 2000, but if it were to me, it wouldn't be a problem if Ethereum's gas costs were high. The problem of high gas prices does not seem to be due to network congestion but this has happened since the UNI airdrop at that time, many users have made transactions on the DEX platform, and until now I am also still waiting for gas costs to down.
Many are delaying transacting with Ethereum, because the gas is too high, making people lazy to transact with Ethereum, maybe for someone who has a lot of Ethereum it doesn't matter, but what about people who have little Ethereum, it must be very difficult to transact even tend to to stop selling it, who knows how long Ethereum will be as stable as before, so that everyone can make transactions as comfortable and easy as ever ...
I think it is because of the Defi Projects that came in great numbers, I mean they've come out from left and right that created congestions in ethereum network, or possibly because of incoming Ethereum 2.0. But gas now have already been subsiding from time to time, unlike before that you can't actually buy/trade.
As of late, the cost of this gas is not really that stable, if you are going to compare it with previous costs, making it very hard for users to make transactions to and from wallets to exchanges. This needs to be handled by the devs as soon as possible or they will lose interest with the coin in the long run. Many are not that patient enough to wait for developments and it may spell trouble for Ethereum.
in fact it is starting to be a problem the fees that are too high for transactions and their instability 2 or 4 $ may seem low as fees but if you use a defi site or an aggregator where multiple opperations are made, the fees can even reach 20 $ in this way it is difficult to organize an investment strategy i hope that the situation will improve soon and return to a fee of a few gwei otherwise i will look to other blockchains where to invest
I believe that today there is nothing to worry about and the price for transactions in the Ethereum network has returned to the previous level, as it was at the beginning of the year. Today commissions are at the level of $ 0.5 - 0.4. The whole problem was network overload due to DeFi, but I believe that the developers will implement Buterin's plans and increase the cost of smart contracts to avoid similar situations in the future.in fact it is starting to be a problem the fees that are too high for transactions and their instability 2 or 4 $ may seem low as fees but if you use a defi site or an aggregator where multiple opperations are made, the fees can even reach 20 $ in this way it is difficult to organize an investment strategy i hope that the situation will improve soon and return to a fee of a few gwei otherwise i will look to other blockchains where to invest
I believe that today there is nothing to worry about and the price for transactions in the Ethereum network has returned to the previous level, as it was at the beginning of the year. Today commissions are at the level of $ 0.5 - 0.4. The whole problem was network overload due to DeFi, but I believe that the developers will implement Buterin's plans and increase the cost of smart contracts to avoid similar situations in the future.
in fact it is starting to be a problem the fees that are too high for transactions and their instability 2 or 4 $ may seem low as fees but if you use a defi site or an aggregator where multiple opperations are made, the fees can even reach 20 $ in this way it is difficult to organize an investment strategy i hope that the situation will improve soon and return to a fee of a few gwei otherwise i will look to other blockchains where to invest
What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.
So the time has proved that the surge was due to defi hype and now due the downtrend in defi sector and hype subsiding the eth gas fee is back to lows as i was reading that it is back to the level where it was 6 months ago. I don't think the Ethereum network congestion can reduce with time.
I don't think there is anything to scared. As the number of transactions on the chain increases, the gas fee raise up. In this way, the ethereum chain is also gradually improved so price growth.
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