I'm scared of ethereum gas fee - page 8.

blue Snow

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Quote from: shakesbear on September 20, 2020, 04:04:37 PM

Today, surprisingly, gas prices have dropped significantly, and I was even pleased to make transactions. It seems to me that if prices rise again, only whales will use ether.

Because Ethereum price dumping by market, in this situation good for transfer it into wallet or exchange for your future investment before whales you mentioned pumping the market.

Quote from: Anyobsss on September 20, 2020, 04:57:53 PM

I'm more scared to do transactions right now. Just recently i bought a token in bounce.finance and the transaction fee is 10 USD. Imagine how much food i would be able to buy with 10 USD. Ethereum network has been congested recently. I hope eth dev will do something about this.

Nothing to do with dev. to decreasing fee does decrease the transaction, if people holding the token, I think the fee going increase to below.

xiboothrezi

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Quote from: ansarose1 on September 20, 2020, 10:20:18 PM

I observed that whenever a coin gets a higher market value, it's gas transaction fees also gets high. Gas fees is directly proportional to a higher valued coin. And as we can see ethereum gets better prices now, that's why it's gas fee could also reach higher for it's transaction. I also conclude if ethereum would decreases it's price anytime in the future, it's gas price would be back to low fees.

We all know that the Ethereum network is one of the biggest projects in development over the past few months, as the popularity of DeFi has grown. This makes transaction traffic-heavy due to the huge market enthusiasm. Moreover, a gas fee has reached a new record or ATH. I am also quite worried about this, usually, the value of gas can be "ignored" but now it must be taken into account. This also has an impact on the distribution of bounty rewards, many projects have postponed until the fees return to normal. The funny thing is, gas and bounty rewards are almost the same, which is irony but ridiculous. Well, this is the crypto world, we must be ready to adapt to every change in the ecosystem, all of which have pros and cons, advantages and disadvantages.

leatutz

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Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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.

Ethereum network congestion is already down than before because so many projects agree to support top others blockchain. In this DeFi hype Ethereum cost could forced us to use centralized exchange for trade. We support cryptocurrency for its decentralization but we should use centralized exchange or wallet. We could probably use another blockchain.

Teraboy

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The congestion that happened in ethereum network has already caused by the traffic on the network itself. People are so crazy sending small amount of tokens with a very big fees. These days peopl are still in competition to do trade in the uniswap and they can only swap their tokens to the another tokens when they were putting the big fees to make their txs to be confirmed by the block asap.

We are hoping the ethereum 2.0 will come asap to make the small users will still able to use ether chain as an alternative chain for bitcoin.

ansarose1

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I observed that whenever a coin gets a higher market value, it's gas transaction fees also gets high. Gas fees is directly proportional to a higher valued coin. And as we can see ethereum gets better prices now, that's why it's gas fee could also reach higher for it's transaction. I also conclude if ethereum would decreases it's price anytime in the future, it's gas price would be back to low fees.

makishart

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Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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.

Just hope if the serenity will be fully implemented when ethereum has already reached such price. As far as i know if when the scalability solution will be fully deployed to the ethereum chain and what you will see in the future was the cheap fees to create a transaction in ethereum network.
If there will always be a lot of demand like this time and then the price of gas fees will never be reduced.
The volume of uniswap has already increased even more.

Litzki1990

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We are scared of the gas fee because it was still into a high if we want to transact.
Not in the old days the gas fee was worth even do we are transact a high amount and the gas fee was fairly stable.
And in this year so many change from etherium maybe this will be said coming update ETH 2.0 and a gas fee was also affected.

Yamifoud

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A $2000 gas fee could be that possible if the price of ETH will also be $1m ( just my own assumption). But as for now, I definitely can't think of any changes that brought it there. The gas fee will somewhat change oftentimes but the current price won't make the fee to completely surging high and make you afraid of. Just above replies, nothing to worry about because ever since we never touch at $500 AFAIK and how much more for $2000...a very slim chance that it happens.

Kehindem

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Nothing to be scared about, its just a matter of time, the gas fee later come down, sooner or later, and gas fee can never be $2000 because it will be loss for the wallet user, and will cause the abandonment of the Ethereum based wallet, so i think everything will come to normal soon..

FontSeli

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Quote from: samcrypto on September 20, 2020, 05:50:44 PM

Quote from: FontSeli on September 20, 2020, 05:30:47 PM

Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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 also remember very well the times when the gas price was only 2 Gwei. However, times are changing and now we need to get used to living with the cost of gas. If you are not profitable to pursue a transaction at that price, you either don't do or wait for when the price of gas will drop to an acceptable level.
Let's hope that Ethereum 2.0 will be launched as soon as possible.

Its hard to get used on a very expensive fees just to transact with this one, better to use exchanges or other tokens as an alternative which can save you a lot from the fees.

The update on ETH will make it more expensive and let’s hope that ETH is working on it right now so the people will not look for alternatives. The fees is crazy, even we grow a lot right now the fees should not that high as well considering that this is a cryptomarket.

The introduction of Ethereum 2.0, on the contrary, should affect the price of gas in the direction of cheapening. This will happen because the network will work much faster and there will be no need to inflate the cost of gas in order for your transaction to pass as quickly as possible. For example, this is what traders do on decentralized exchanges such as Uniswap.

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Quote from: FontSeli on September 20, 2020, 05:30:47 PM

Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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 also remember very well the times when the gas price was only 2 Gwei. However, times are changing and now we need to get used to living with the cost of gas. If you are not profitable to pursue a transaction at that price, you either don't do or wait for when the price of gas will drop to an acceptable level.
Let's hope that Ethereum 2.0 will be launched as soon as possible.

Its hard to get used on a very expensive fees just to transact with this one, better to use exchanges or other tokens as an alternative which can save you a lot from the fees.

The update on ETH will make it more expensive and let’s hope that ETH is working on it right now so the people will not look for alternatives. The fees is crazy, even we grow a lot right now the fees should not that high as well considering that this is a cryptomarket.

Pompa

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To those engaged in exchange they know what is good or bad sides of this deals in this situation. We have to know by reading some news or knowing the latest update regarding to this kind of thread.

FontSeli

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Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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 also remember very well the times when the gas price was only 2 Gwei. However, times are changing and now we need to get used to living with the cost of gas. If you are not profitable to pursue a transaction at that price, you either don't do or wait for when the price of gas will drop to an acceptable level.
Let's hope that Ethereum 2.0 will be launched as soon as possible.

Asuspawer09

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Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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 guess fees are always a problem in a lot of popular tokens like Bitcoin or Ethereum and some other cryptocurrency. But its kinda normal to a lot of users already increasing and decreasing of the transaction price of fees.

Congested network, traffic in the network, demand in the token could be the reason to high fees but still, you might just use some other tokens to avoid high transaction fees.

XRP have lower transactions and a good choice that you could use if ETH or bitcoin has a high transaction fee but still depend on the platform it what gas you could use.

mindrust

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Quote from: ololajulo on September 20, 2020, 04:52:56 PM

Quote from: mindrust on September 20, 2020, 02:28:30 PM

When Eth becomes unusable, those who cannot afford the fees will move to the other chains, it is that simple.

Eth gas wont get that high. Observing the market show that people wont be switching chains soon. At the moment TRX provide one of the cheapest transaction fee but few Defi project. Unfortunately,Tron Defi token have not done so well in this market and didnt have any hype as close to ethereum Defis' even with the numbers of exchanges listing the Defi token. Ethereum has a better advantage at the moment to other blockchain.

It is already high. When the demand increases, it will even get higher. When people get sick of the high fees, they will move to the other chains. That does not necessarily mean a bad thing for eth, it just means the eth network will be working on full capacity just like once the bitcoin network did. Only those who can afford to pay the price will be able to operate on eth, others will go to the cheaper options.

Anyobsss

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Quote from: Cryptoababe on September 19, 2020, 05:26:25 PM

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'm more scared to do transactions right now. Just recently i bought a token in bounce.finance and the transaction fee is 10 USD. Imagine how much food i would be able to buy with 10 USD. Ethereum network has been congested recently. I hope eth dev will do something about this.

ololajulo

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Quote from: mindrust on September 20, 2020, 02:28:30 PM

When Eth becomes unusable, those who cannot afford the fees will move to the other chains, it is that simple.

Eth gas wont get that high. Observing the market show that people wont be switching chains soon. At the moment TRX provide one of the cheapest transaction fee but few Defi project. Unfortunately,Tron Defi token have not done so well in this market and didnt have any hype as close to ethereum Defis' even with the numbers of exchanges listing the Defi token. Ethereum has a better advantage at the moment to other blockchain.

cryptoperkele

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Quote from: cabron on September 20, 2020, 03:19:56 PM

...
Won't all these be solved when ETH2 is launched?
...

Yeah, when ever that is going to happen. It has been promised to launch for a very long time now and i am really doubtful that they keep on the current schedule, even though they are way better to estimate when it's finished then me, i somehow think they are too optimistic, because they have been too optimistic before and it's a huge project with a lot of moving parts. And everything needs to work without any bugs to exploit or it will be worthless launch.

militiariko

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Life is beautiful !

There's no reason to be worried about the etherum gas prices, as a professional, trader or investor, you should gadner the patience to check ethgasstation first before conducting any transaction on your wallet.

To avoid overpaying, and loss of funds

shakesbear

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Today, surprisingly, gas prices have dropped significantly, and I was even pleased to make transactions. It seems to me that if prices rise again, only whales will use ether.

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