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Topic: THE ETHEREUM GAS FEES (Read 413 times)

member
Activity: 181
Merit: 10
July 19, 2020, 01:26:34 PM
#40
Ethereum gas fee is just too expensive at the moment. I spend too much money while trading on DEX.
It’s correct i am also facing such thing. This higher gas fee is kinda burden for the regular crypto traders. I spend 0.48$ to sending a single ERC-20 coin. When i making a new transaction i reduced gas fee(0.13$) as a result it’s pending almost 50 min. To create first & smooth transaction fee is literally too much expensive.                   
0.13$ for 50 min transaction are okay for me. We're really spoiled by how fast and a low fee of Ethereum network and now kinda hard to accept the new change in it. I think we need to get used to it till the Ethereum 2.0 rollout and address this problem.
member
Activity: 630
Merit: 10
July 19, 2020, 12:59:56 PM
#39
This already foreseen a long time ago. Too many smart contracts based on Ethereum blockchain make it become more crowded as time went. No progress on trying to improve Ethereum's network speed and fee meaning we will have a cough up more money just to sent tokens out.
whether Ethereum 2.0 will solve this ?, if it would not be unfortunate if Ethereum could not overcome this problem
legendary
Activity: 2212
Merit: 1008
July 19, 2020, 11:44:02 AM
#38
Ethereum gas fee is just too expensive at the moment. I spend too much money while trading on DEX. Ethereum developers must do something quickly on the ETH2.0. And most times my uniswap transaction fails due to time lag on ethereume transaction confirmation time.

to be honest DEX is main cause why is ethereum fee gas is high all time because 1 trade transaction will have 2 TX transaction which 1 transaction will be save as your trade and another transaction is for DEX fees. i hope that ethereum 2.0 will out very soon because people are start getting pissed off and to many project that doing crowd sale on their contract getting pending transaction result, one of example that project getting of bad impact for this problem is PayAccept that suspended their Pre-sale on UniSwap because of to much complain about pending transaction and investor who send the ether start blamming contract code for that.

full member
Activity: 653
Merit: 183
July 19, 2020, 11:06:18 AM
#37
This already foreseen a long time ago. Too many smart contracts based on Ethereum blockchain make it become more crowded as time went. No progress on trying to improve Ethereum's network speed and fee meaning we will have a cough up more money just to sent tokens out.
sr. member
Activity: 2226
Merit: 259
Buzz App - Spin wheel, farm rewards
July 19, 2020, 09:29:32 AM
#36
Ethereum gas fee is just too expensive at the moment. I spend too much money while trading on DEX.
It’s correct i am also facing such thing. This higher gas fee is kinda burden for the regular crypto traders. I spend 0.48$ to sending a single ERC-20 coin. When i making a new transaction i reduced gas fee(0.13$) as a result it’s pending almost 50 min. To create first & smooth transaction fee is literally too much expensive.                   
legendary
Activity: 2982
Merit: 1028
July 19, 2020, 09:01:23 AM
#35
Gas fees will be more expensive if it is converted to USD when the price of ETH rises, I think developers have thought of this and of course they will have the best solution also for miners. Currently the best solution is not to send coins if the value is too low than the fee to be issued, and always check the recommended gass fee so that the transaction can be quickly confirmed.

It's indeed needed to carefully check before creating your transactions, with this high fees it's best to keep your assets instead of
paying for bigger fees, the developers should take a look on this and make adjustments. Traders will look on the other
alts that can cater their transactions to avoid paying high fees like this.
full member
Activity: 398
Merit: 100
July 19, 2020, 08:53:05 AM
#34

It's not so expensive dude, this day the tx fees for each transaction is not more than than 20 cents which mean if that can still be considered as the low fees. The network is still stable right now and there was no a big event that was effecting the network.
But once Ethererum at a new high price, the network will be stuck with many transactions cause by people rush their coin to the exchange. Higher fee in the network cause by both, transactions pile up and Ethererum increases its price. Just hope Ethererum sort this problem out first.
full member
Activity: 1119
Merit: 206
Next Generation Web3 Casino
July 19, 2020, 08:46:48 AM
#33
Yes, we need solution about ethereum gas fee, sometimes becomes fail if fee not high, so the solution is increases fee. Also in exchanges ethereum fee around 0.001ETH-0.003ETH equal $0.2-$0.7. this is so high. If we compare with XLM. we will see XLM coming to provide solutions about fee. 1 transaction only 0.00001 XLM. If on exchanges only 0.001XLM-0.01XLM equal $0.000099-$0.00099, So cheap.

Source :
https://www.binance.com/en/fee/deposit
https://www.stellar.org/developers/guides/concepts/fees.html
https://help.indodax.com/id_ID/bagaimana-rincian-fee-di-indodax-com/
legendary
Activity: 2814
Merit: 1112
Leading Crypto Sports Betting & Casino Platform
July 19, 2020, 08:01:02 AM
#32
Gas fees will be more expensive if it is converted to USD when the price of ETH rises, I think developers have thought of this and of course they will have the best solution also for miners. Currently the best solution is not to send coins if the value is too low than the fee to be issued, and always check the recommended gass fee so that the transaction can be quickly confirmed.
hero member
Activity: 2268
Merit: 507
July 19, 2020, 07:40:55 AM
#31
I have heard that high fees currently on the Ethereum network are done mainly by spam transactions that are made by miners who spam the network with these transactions, and that cause that they collect higher fees for each transaction, smart.  Roll Eyes
yes you are right the cost is very expensive now, I am forced to do it because I have to withdraw all the assets that I have on several exchanges, I just hope ethereum will no longer have problems like this in the future
It's not so expensive dude, this day the tx fees for each transaction is not more than than 20 cents which mean if that can still be considered as the low fees. The network is still stable right now and there was no a big event that was effecting the network.
sr. member
Activity: 1736
Merit: 306
July 19, 2020, 03:20:45 AM
#30
I have heard that high fees currently on the Ethereum network are done mainly by spam transactions that are made by miners who spam the network with these transactions, and that cause that they collect higher fees for each transaction, smart.  Roll Eyes
yes you are right the cost is very expensive now, I am forced to do it because I have to withdraw all the assets that I have on several exchanges, I just hope ethereum will no longer have problems like this in the future
member
Activity: 423
Merit: 11
July 19, 2020, 03:00:55 AM
#29
Ethereum remain the best and first smart contract project to be introduced on the blockchain platform. respect to that but i think it is high time they figure out on how to deal with high gas issues. this has lingers for over 3 months. so many payments are pending OR are been delayed due to high fees. what are the possible solution to FAST RESOLUTION of ethereum gas fees whenever it goes High.

Gas transaction costs are a problem that often occurs on the Ethereum platform. I often see that there is a difference in gas costs between token A and token B. Maybe this is an effect on the contract code. Some tokens even require a shipping fee of 0.004 ETH. I think this is quite high for a standard gas transaction.
legendary
Activity: 2338
Merit: 1261
Heisenberg
June 28, 2020, 05:45:31 PM
#28
But seriously fee is still so low as compared to other payment processors that you guys know of like PayPal, Western Union etc. Imagine send $50,000 for a fee of less than $0.2 which you right now claim to be so high. Let's be fair.

so many payments are pending OR are been delayed due to high fees. what are the possible solution to FAST RESOLUTION of ethereum gas fees whenever it goes High.
Just make sure your gas price is always set high when sending ETH or ERC20 token. Your transaction will be confirmed within a minute. That's the only solution.

Use https://ethgasstation.info/ to see the best Gas price to set.
full member
Activity: 954
Merit: 104
ludenaprotocol.io
June 28, 2020, 05:09:41 PM
#27
I have heard that high fees currently on the Ethereum network are done mainly by spam transactions that are made by miners who spam the network with these transactions, and that cause that they collect higher fees for each transaction, smart.  Roll Eyes
member
Activity: 272
Merit: 10
June 28, 2020, 05:05:52 PM
#26
Ethereum gas fee is just too expensive at the moment. I spend too much money while trading on DEX. Ethereum developers must do something quickly on the ETH2.0. And most times my uniswap transaction fails due to time lag on ethereume transaction confirmation time.
member
Activity: 1078
Merit: 21
COMBONetworkio
June 28, 2020, 03:55:08 PM
#25
Ethereum remain the best and first smart contract project to be introduced on the blockchain platform. respect to that but i think it is high time they figure out on how to deal with high gas issues. this has lingers for over 3 months. so many payments are pending OR are been delayed due to high fees. what are the possible solution to FAST RESOLUTION of ethereum gas fees whenever it goes High.
Ethereum 2.0 seems to be the right solution, but until now there is no certainty when it will be launched
sr. member
Activity: 1442
Merit: 265
June 28, 2020, 03:33:28 PM
#24
Ethereum remain the best and first smart contract project to be introduced on the blockchain platform. respect to that but i think it is high time they figure out on how to deal with high gas issues. this has lingers for over 3 months. so many payments are pending OR are been delayed due to high fees. what are the possible solution to FAST RESOLUTION of ethereum gas fees whenever it goes High.
To be honest gas fee is not always high, i have performed multiple transactions in the same day at different times and it seems like the fee increases around the peak time when network faces huge load of transactions, although currently it is a problem for users but to be positive it also shows that ethereum network is used more and more now and it seems well adooted by the community which indicates massive price run in coming months especially after rolling out of eth 2.0 and implementation of scalability solutions, so just stay calm everything will be good.
member
Activity: 350
Merit: 11
June 28, 2020, 02:21:23 PM
#23
the ups and downs of GAS costs depend on the number of transactions made at the time, the more transactions, the higher the GAS costs we have to spend, to handle this we hope that there will be other methods that are more stable and faster.
jr. member
Activity: 182
Merit: 1
June 28, 2020, 01:56:17 PM
#22
I literally have no idea why this incessant jack in Ethereum fees and network congestion hasn't been sorted up till this point in time. I understand that the Ethereum blockchain has the highest number of projects building upon it and thus, suffers from congestion a whole lot, but I am of the opinion that there should be a way to salvage this frustrating situation at least. This has been happening quite often and the fees seem to go up at this times. I currently have a transaction that has been pending for over 2 days now and its totally unacceptable.
newbie
Activity: 31
Merit: 0
June 28, 2020, 09:44:59 AM
#21
Fees are getting higher, transactions got slower
I hope for the best and I hope it will come with eth2.0 then we all can live happily again
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