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 326 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
To be frank the reason why most people use Tron chain for transactions is that, it comes free or nearly free, at least for USDT transactions through Tron is free on most exchanges, also increasing the transaction fee to x4 might not look a bit high or not high at all.
That is, what is the current transaction fee? For USDT transactions it is 0, so increasing it to x4 that's about 4 Trx, so what's the price is 4 Trx, that is, less than $1 about $0.120444 (currently). So looking at this, this is still very cheap when compared to that of other blockchains.
So sincerely, I do not see much difference in it, for something you have being using for free and then pays aforementioned amount to use it, is still close to nothing. Also, in my own opinion, the team did what they had to do to ensure more usage of the coin and hence more growth, also those who have been using Tron chain will still not tell the difference in transaction fees since it is slow.
This is just my opinion and analysis, unless I am missing something but i still not see it as a problem or something that will make Tron drop in price terribly.
That is, what is the current transaction fee? For USDT transactions it is 0, so increasing it to x4 that's about 4 Trx, so what's the price is 4 Trx, that is, less than $1 about $0.120444 (currently). So looking at this, this is still very cheap when compared to that of other blockchains.
So sincerely, I do not see much difference in it, for something you have being using for free and then pays aforementioned amount to use it, is still close to nothing. Also, in my own opinion, the team did what they had to do to ensure more usage of the coin and hence more growth, also those who have been using Tron chain will still not tell the difference in transaction fees since it is slow.
This is just my opinion and analysis, unless I am missing something but i still not see it as a problem or something that will make Tron drop in price terribly.
TRON has and increases its adoption by its very low transaction fees. People would like to save fee and want to use TRON for their transactions. Exchanges satisfy needs of customers by building the gate of deposits with TRON and also withdrawals on TRC20 chain. If you use Binance, you will see the fee for withdrawal with TRON on TRC20 chain is very low, and almost free. It is very cheaper than BTC, OMNI, ERC20 chains.
If the proposal to increase transaction fee on TRC20 chain is accepted by a consensus, TRON adoption will fall and the crypto will have other alternatives to replace TRON as a new cheap transaction method.
If the proposal to increase transaction fee on TRC20 chain is accepted by a consensus, TRON adoption will fall and the crypto will have other alternatives to replace TRON as a new cheap transaction method.
I think this is a great solution that will allow TRX to grow in value. I have already thrown all my coins into the freeze and will wait for growth! Moreover, a huge altseason is coming soon, and this news is just perfect.
Gas fees depends on the value of a coin, whenever a coin goes up in value the gas fee will increase, there are many examples of this in Bitcoin transaction fee and Ethereum too, Tron was just 0.02$ weeks ago and now it's over so gas fee will definitely increase but the fee is not a killer, still very affordable still, why this complain OP?
Lol, I've talked about this before, the reason why transaction fee are cheaper on Tron, XRP, Doge is because these altcoins are extremely cheap, things will change for them if they surge up in value, their gas fee will never remain the same again, it's simple as that
Someone finally has a good post.Come one, even the fee increases 4x on the chain your transaction on an exchange and some service only required 1-5 TRX the cost only under 10 cents. How much cheap you want damn! I don't know for some people who really paranoid about a fee was an increase just only a few cents.
Still can't know in some people's minds who really worried and paranoid with the fee even the fee already pretty cheap cost only a few cents.
Lol, I've talked about this before, the reason why transaction fee are cheaper on Tron, XRP, Doge is because these altcoins are extremely cheap, things will change for them if they surge up in value, their gas fee will never remain the same again, it's simple as that
Maybe if the benefits outweigh the disadvantages maybe it won't be a problem for users, but x4 is too much because Tron is already one of the cheapest blockchains when it comes to transactions, it's not impossible that loyal users can leave it.
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.
An increase of any transaction fee is more bad than good. And in this particular case involving Tron, everything is much worse than just a simple increase because the increase is 4x. That sounds like an unreasonable increase. Is this really needed this time? Does it happen because of an urgent reason?
If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.
I don't know the exact reason for the increase on transaction fee, but its pretty high increased considering the market situation that we have right now. Freezing their holdings should be more on the hodlers side as their choice and not a platform choice I guess. Well, let's see if the result will be bad or good and only the hodlers or users of TRON network can say that one. If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.
Just now that i heard this and i felt sad because i use tron for its lower fees just like Doge coin and ripple specially when i gamble but now having x4?hope this won't be consider and ask first the user if they are pleased or not,because this may push us to find another one that will remain lower in fees because admit it that cheap coins like tron mostly being the option for sending as the cheap fees being consider.
An increase of any transaction fee is more bad than good. And in this particular case involving Tron, everything is much worse than just a simple increase because the increase is 4x. That sounds like an unreasonable increase. Is this really needed this time? Does it happen because of an urgent reason?
If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.
Lets see what most tron users say about this but i think same as ours. If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.
An increase of any transaction fee is more bad than good. And in this particular case involving Tron, everything is much worse than just a simple increase because the increase is 4x. That sounds like an unreasonable increase. Is this really needed this time? Does it happen because of an urgent reason?
If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.
If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.
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?
Jump to: