It's not a big problem if Tron's transaction fees go up by 4X, because from the start, Tron's fees are very cheap.
It's still very expensive transaction fees using Ethereum, so Tron is still very much in demand these days. I also
don't mind the increasing cost of Tron, considering it's still very cheap and highly recommends using Tron to send funds.
Topic: Thoughts on Tron Fees Going UP 4X (Read 293 times)
He is now deciding to up the transfer fees on the TRX network, but those fees get shared between the SRs (Super Representatives) and TRX Freezers. Another incentive for people to freeze their Tron, to avoid these problems...
Is not only tron transaction fee that is higher, for like months ago now the transaction fee of the ethereum is going higher to the extent that sometimes the transaction fee will be equal to the eth you want to send that's y most people were using tron, but recently tron transactions too were very high even though is better now but is still high. The reason in the increment of gas fee is due to the surge in Altcoin price. For now I think tron wallet is better.
I dont think it is fair to call it an overhyped shitcoin, when it is clearly the more efficient way to setup DeFi platforms. Unless you are dealing with thousands of dollars per transaction, then ETH is far too expensive to use as your dollars in fees per transaction. TRX you can have free transactions if you freeze enough and if not, at worst, the transactions cost me 8/9 trx (under 30 cents) if I do too many. Its a no brainer for me effiency wise. Thats why platforms like Forsage etc moved from ETH to TRX.
So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?
I personally do not mind it. It gives people incentive to freeze a bit of their holdings for Energy (mostly), which they will earn small rewards on, contribute to voting which is currently mostly governed by whales, and overall stabilize the ecosystem. I already had a bit frozen on all my main wallets that I use on platforms so it wont directly effect me unless using sub-wallets. How is it effecting you guys?
I personally do not mind it. It gives people incentive to freeze a bit of their holdings for Energy (mostly), which they will earn small rewards on, contribute to voting which is currently mostly governed by whales, and overall stabilize the ecosystem. I already had a bit frozen on all my main wallets that I use on platforms so it wont directly effect me unless using sub-wallets. How is it effecting you guys?
I use tron wallet to freeze my TRX and i get small rewards for voting there. Tron network fees increased but not 4x than past. I have made few transactions yesterday but fees was very small where ethereum transaction fees is much in ETH network.. I am satisfied using TRON wallet.
So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?
Considering how tron has become popular lately with the low gas fees about 1 trx per transaction, increasing the transaction fee to x4 might hurt some people out there, but if increasing the transaction fee to x4 will do more good to tron than bad, then I don't mind if the transaction is increased, after all the gas fee is pretty low right now, which is the main reason why alot of people prefer using it tron for their daily transactions.Changing the transaction fee to be 4x more expensive, that means it will make transactions confirmed faster too, right? If that is the case, it doesn't matter to me because the current transaction fees are still very cheap for TRON, and Tron's prices are also very cheap.
Same thing I wanted to ask 
, cause tron is already fast it takes about a few seconds for transactions to be confirmed, so maybe increasing the fee might make it become instant confirmation.
It's simple arithmetic, whenever a altcoin surge up in price the gas fee will also increase too, as a matter of fact if Tron reach a new ATH we will be paying more for gas fee, probably from 0.20$ to 1$ is possible, that's just the way it is with crypto projects and right now price are back to normal since bitcoin dumped back to 16,000$
So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?
I personally do not mind it. It gives people incentive to freeze a bit of their holdings for Energy (mostly), which they will earn small rewards on, contribute to voting which is currently mostly governed by whales, and overall stabilize the ecosystem. I already had a bit frozen on all my main wallets that I use on platforms so it wont directly effect me unless using sub-wallets. How is it effecting you guys?
I personally do not mind it. It gives people incentive to freeze a bit of their holdings for Energy (mostly), which they will earn small rewards on, contribute to voting which is currently mostly governed by whales, and overall stabilize the ecosystem. I already had a bit frozen on all my main wallets that I use on platforms so it wont directly effect me unless using sub-wallets. How is it effecting you guys?
It sounds ok and fine now, but if TRX price goes up by few multiples, it's gonna be the same shitshow as with ETH. People will pay $5 for a $20 transfer, which is silly.
If they have a mechanism to regulate the fee however, it might be ok
i have no idea what is going on with Tron but whatever they decide to do is beyond anyone's control. It's centralized anyway. if you hold a bag of TRX, there is still nothing you can do. but the polonidex look good because its volume is increasing every day.
I am surprised that there are people who still use TRX. I have always considered it as a failed innovation. Originally it was founded to assist with file-sharing of copyrighted content. But more than three years have passed and I have seen no evidence to claim that it is being used in that way. In short, TRX was another overhyped shitcoin, which failed to meet expectations from the cryptocurrency users.
it had evolved into a smartcontract platform to compete with the others, they still failed to do this actually but because of its low fees, many used it.
I am surprised that there are people who still use TRX. I have always considered it as a failed innovation. Originally it was founded to assist with file-sharing of copyrighted content. But more than three years have passed and I have seen no evidence to claim that it is being used in that way. In short, TRX was another overhyped shitcoin, which failed to meet expectations from the cryptocurrency users.
So their main objective has not been achieved til now? I'm not familiar with the actual use case of tron. But if the fees will go up, then, they will lessen some of its users who are after for the transaction fees. They need to think about such move because there are alts that have very cheap transaction fees.
I am surprised that there are people who still use TRX. I have always considered it as a failed innovation. Originally it was founded to assist with file-sharing of copyrighted content. But more than three years have passed and I have seen no evidence to claim that it is being used in that way. In short, TRX was another overhyped shitcoin, which failed to meet expectations from the cryptocurrency users.
When the number of users and the number of transactions skyrocketed on the network, the increase in transaction fees is inevitable. However TRX's transaction fees compared to ETH are still very cheap, so I have no problems with it.
So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?
Changing the transaction fee to be 4x more expensive, that means it will make transactions confirmed faster too, right? If that is the case, it doesn't matter to me because the current transaction fees are still very cheap for TRON, and Tron's prices are also very cheap.But they were already very fast beforehand? They didn't need changed IMO as it was already efficient. They are still FREE for me because I only do a withdraw on a couple platforms per day and I have enough TRX frozen to cover those.
So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?
Changing the transaction fee to be 4x more expensive, that means it will make transactions confirmed faster too, right? If that is the case, it doesn't matter to me because the current transaction fees are still very cheap for TRON, and Tron's prices are also very cheap. Very good for miners of course. I go with Ark.io Ecosystem for very low fees
Tron isnt minable... Unless I am mistaken, the TRX is burned. Thats what creates the energy you need to complete the transaction.
Very good for miners of course. I go with Ark.io Ecosystem for very low fees
I think because the transactions were so cheap before, that dapps were able to bring out casinos etc where you could auto roll (on chain) because transactions were so cheap and it was congesting up the chain... well thats what I think. According to Justin Sun, it is to get more people freezing and voting on governance which in turn, balances and stabilizes the ecosystem as a whole.
It has been voted through and is effective. You can view the vote on Tronscan. Both for Bandwidth AND Energy have been approved.
Is this just a proposal or already out in the market?
I'm sure many supporters of TRON will be against to this one and they might not approve this because TRON is one of the cheapest platform and many might leave this if they push it through. Though this might not be a big increase to some, many might still hesitant to agree but if TRON knows that its for the best of the project, then why not.
I'm sure many supporters of TRON will be against to this one and they might not approve this because TRON is one of the cheapest platform and many might leave this if they push it through. Though this might not be a big increase to some, many might still hesitant to agree but if TRON knows that its for the best of the project, then why not.
It has been voted through and is effective. You can view the vote on Tronscan. Both for Bandwidth AND Energy have been approved.
No idea how much TRX fees cost but I guess it's fixed if they're quadrupling it? Is that more an incentive to miners to stay on the networks or is this just as you say a way to burn up all those micro wallets?
Always though altcoins figured out the fee structure by now.
Always though altcoins figured out the fee structure by now.
If more fees means more rewards, that's a pretty good deal to people who rarely do transactions in tron and just hold it. I don't really know much the fees of tron but if it's on par with doge or xrp, then it's really not that bad. $0.01 x 4 is just $0.04 so it's not much, but that's assuming the transaction fee of tron is $0.01.
I don't use TRX for transactions, I just store it in my Binance account, I think for the price of TRON it's still relatively cheap so it doesn't seem a problem if every transaction costs a few TRX, just try to see that ETH is still quite expensive for transaction fees
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