The price of gas has finally dropped

joeydangerous

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Quote from: Julia1992 on January 12, 2018, 07:15:53 AM

Something I did not notice the fall in gas prices! We have in Ukraine, they are cosmic, payments are a "pleasant" surprise every month! Survive in the winter, as we can! Huh

It's about time tey price changed, there was a lot of people complaining about it. There was starting to get no point in spending Ethereum.

Psynthax

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Quote from: DaFingIs on January 12, 2018, 06:48:12 AM

I'm sure you all have noticed the ridiculous gas price recently! Well it has finally dropped back down to 8 Gwei (yay).

Does anyone know what caused it to rise, and then drop again?

Because people are trying to use another blockchain and they are known to not focus only on ethereum blockchain. But it doesn't seem the gas price dropped a lot for me. The standard gas price still around 25 gwei and it's $0.625 i think the pending transaction will be dropped a lot as fast as possible.

jakaKak

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Gas price and transaction fees should stay low since this is one of the points of crypto.
One thing i dont understand is, why do you pay such a huge price if your transaction fails?

appleyard

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Quote from: DaFingIs on January 12, 2018, 06:48:12 AM

I'm sure you all have noticed the ridiculous gas price recently! Well it has finally dropped back down to 8 Gwei (yay).

Does anyone know what caused it to rise, and then drop again?

I did not notice that the price is dropping, why in the other country the price is not changing is this possible? maybe this is changing for a reason like the price if there is huge transaction then the gas is low?

Julia1992

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Something I did not notice the fall in gas prices! We have in Ukraine, they are cosmic, payments are a "pleasant" surprise every month! Survive in the winter, as we can! Huh

Thyaga

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Quote from: DaFingIs on January 12, 2018, 06:48:12 AM

I'm sure you all have noticed the ridiculous gas price recently! Well it has finally dropped back down to 8 Gwei (yay).

Does anyone know what caused it to rise, and then drop again?

You get the information that eth transaction takes only 8 gwei from where? Based on https://ethgasstation.info the lowest gwei is at 15 gwei (safelow)

Conundrumwas

newbie

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I see, so it still really depends on how congested the network is at a given time. Well then, does anyone know why the congestion lessened? Could it be because of S. Korea?

Mevz

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Quote from: DaFingIs on January 12, 2018, 06:48:12 AM

I'm sure you all have noticed the ridiculous gas price recently! Well it has finally dropped back down to 8 Gwei (yay).

Does anyone know what caused it to rise, and then drop again?

Its always depends on the numbers of transactions on the ethereum blockchain. When there is too many pending transactions it will rise up the gas price to make your transaction will work in a single period of time and it will prioritize your transaction to make it more faster just in minutes. The ethereum network dropped back down because there is no pending transactions so its ok to set a 8 Gwei for a transaction. But make sure to set a gas that fit on your transaction sometimes we can't even notice that the transaction are all pending when we are in a hurry.

deeofficialx

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I hope so. A clogged network will alwas be the problem here. The more congestion, gas price will fly high.

wissy

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Thats definitely a great news but it still didnt reach the minimum it has few weeks ago. I hope it will go even more down since ETH is raising slowly.
The best website to check the current situation with gas is https://ethgasstation.info/

BabyPokox

copper member

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in my country price not drop but the opposite .
which mean it depend of the country and the thing possible to affect gas price its economic of their country . which is your country had good economic for now Wink

DaFingIs

jr. member

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I'm sure you all have noticed the ridiculous gas price recently! Well it has finally dropped back down to 8 Gwei (yay).

Does anyone know what caused it to rise, and then drop again?

Topic: The price of gas has finally dropped (Read 149 times)