Topic: So Is This Going to Be the Norm for Ethereum Gas Prices Now? (Read 174 times)
This is why I'm starting to hate ethereum. Look at waves, almost zero fees and fast transaction
Whew. Looks like we're back to normal. But man, that was like a month of that. Eth is still a long way to go before it can be used by everyone in the world for transactions. All it takes is one viral exchange or app to eat up all the resources and make the network too costly to transact in.
Even when the Fcoin ended, they were still pending transactions which the network will take time to clear the backlog, but right now things has stabilized as the gas prices are now low and cheap again.
But i have not been getting any problem after send my ethereum. In fact that the ethereum gas price has back to the normal again. There was a lot of pending transaction in the network. You can see that how each ethereum transaction cost even below than 0.01$ for gas fees. I meant that's just the matter of time until those people are spamming the network with the useless transaction will be stopped to waste their money.
Even when the Fcoin ended, they were still pending transactions which the network will take time to clear the backlog, but right now things has stabilized as the gas prices are now low and cheap again.
This is not the norm. This is how it goes.
No it will not be the norm. This is probably just a glitch in the blockchain, it like any other thing is not perfect so at times there are bound to be problems with it. With time, we will have less problem with things like this and scalability. Now that it has happened, the creators now know that they need to work on it so they will be working to resolve this as quickly as possible.
If you are in a hurry then yes you should pay the gas at that amount but if you can wait then you can send the token with lower gas price or send the token later when the network isn't full. Yeah it is like cryptokitties part 2 but they will solve it sooner or later like they did with cryptokitties otherwise people will leave eth for other coin.
This will not be forever like this. The market of crypto currency is very unpredictable and things do not remain in a stationery position over here all the time. The market is so dynamic that placing bets that this is the norm, will not be wise decision to take at all.
Well, i tried making transaction in mew and it asked for 90 something gas. It says, there are too many transactions so it needs more gas than the usual 41. I tried another transaction at a different hour and it accepted the gas price of 41. So i don't think that's the usual. If you're not in a hurry then just don't send it. Instead, wait for it to accept the minimum gas price.
That's an informative post. Yes, the price of the gas token on Ethereum has increased a lot. But I hope soon the price of gas token will decrease.
Actually Eth created a good market positions after they came in the market they also offered good facilities to their customers also this things are really disappointing but its not fixed after few days later they will monitor this issue so we need to focus on investing because the market is in tough situations.
Currently the scaling solutions of the eth coins are being developed. Soon they will be implemented in the market. So hopefully this is not the norm of for ethereum.
I strongly believe it's not going to remain like this forever for Ether gas price because its very abnormal, there will be correction in the near future. I heard they solving some scalability issues with the network, let us be patience with them.
Hopefully with the updated solutions mentioned above that this is only a fairly short term thing. To be honest even at the current price if you're doing bigger transactions it's still cheap.
it depends on the traffic of the users using the same platform. in this case, though it is high, this gas price is lower than btc transaction fees and definitely lower than bank charges. i hope that this gas price will not be the norm now i hope it will decrease soon
This case, with an increase in transaction costs and transaction delays, will push the Ethereum team to more decisive steps and mobilize their forces and resources to address the scalability of the network as soon as possible and stabilize the cost of the GAS. Difficulties always give impetus for improvement and development.
I hope not, it would be a night mare if it stays like this for some more days it can be a big and serious threat for eth network and business so i think and hope that they will get rid of this issue as soon as possible.
This is not going to be the ETH gas price forever. As the scaling solutions are now currently under development it will be changed and it will implement in the up coming months. The speed of ETH transaction is going to increase and I hope that this will solve the problem.
you know it's really hard to reply but normally it's not work like that, many things are involved and the increase or decrease of the price depend on it but in ethereum gas policy it okay to buy more gas cause later if you want you can sell the rest.
No this is not going to be the norm forever. Scaling solutions are currently being developed and are going to be implemented in the coming months. Sharding, proof of stake and plasma are going to increase the ethereum transaction speeds to astronomical levels which should fix the current problem.
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