Volatile Gwei Gas Fees help! - page 3.

Bttzed03

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Quote from: Review Master on March 06, 2021, 10:11:25 AM

Quote from: Bttzed03 on March 05, 2021, 10:59:31 PM

That wallet from brave browser is tied to Uphold right? The one that asks you to complete KYC before you can send/withdraw funds from that wallet? I wouldn't suggest that.

Nope, i'm not taking about brave rewards, but i'm actually talking a extra feature which is offered by brave browser and it's called "Crypto Wallets" which is basically the samething like the extension of metamask with a modified version to use without any problem.

Just install brave browser and than open it. After that, follow according to attached image and anyone will get that option to use. So, crypto wallet is different from brave reward system and it's totally different and don't need to do kyc. Cheesy

https://i.imgur.com/mMAQBlG.jpg

I'm well aware that you're not referring to BAT rewards from viewing ads. I read a posts back when that wallet was first launched that you can deposit but you're not allowed to withdraw without passing KYC too and I assumed that was true. I was a Brave user and I remember rejecting the wallet installation when it popped out.

Quote from: rozak on March 06, 2021, 12:03:45 PM

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

So Ethereum 2.0 will fix this volatile gas fee issue?

To solve this transaction fee problem, I think it has nothing to do with ethereum 2.0

Yes it will help fix gas issues. Ethereum 2.0 also aims to improve scalability with higher TPS.

EIP 1559 will be a temporary fix.

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

~ Finally will people wait for Eth 2.0 or will move to other smart contract platforms like Binance Smart Coin or whatever it is that is cheaper?

There is still a good daily volume over ethereum but it's probably the whales that are playing there. Most retail traders moved to Binance Smart Chain, Polkadot, and Polygon.

Quote from: very_452001 on March 06, 2021, 05:24:43 PM

~
Wont Binance BSC get congested too like Eth with expensive fees when lots of people start migrating there?

BSC is a centralized solution to fix the gas fees. With only 21 nodes, it's easier to control the fees and lower it if necessary.

very_452001

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Quote from: rozak on March 06, 2021, 12:03:45 PM

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

So Ethereum 2.0 will fix this volatile gas fee issue?

To solve this transaction fee problem, I think it has nothing to do with ethereum 2.0

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

Moreover, there is already a discussion regarding the transaction fees that ethereum developers will complete by the middle of this year. we just try to wait.
When will Ethereum 2.0 be released officially?

if I'm not mistaken it will be finished in 2023 in the future. This is related to supply as well as how ETH is mining in the future. (Please correct if the information I received is wrong)

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

Finally will people wait for Eth 2.0 or will move to other smart contract platforms like Binance Smart Coin or whatever it is that is cheaper?

I think the move from using the ethereum blockchain to binance has occurred in several projects.
BSC adoption is now increasing for several new projects as well for those migrating from ethereum to binance.

Wont Binance BSC get congested too like Eth with expensive fees when lots of people start migrating there?

Quote from: tvplus006 on March 06, 2021, 01:11:59 PM

Quote from: tippytoes on March 05, 2021, 05:49:24 PM

Quote from: Johnyz on March 05, 2021, 05:38:18 PM

Fees are moving too and its really volatile on ETH platform and no one can help you with this one since this is our common problem. If you used a lower fees then expect a big delay on your transactions, since you already confirm it all you have to do is to wait for confirmations, better to use a higher gas if you badly needed the money,

That's the only option for now to get ahead with the game. If you want to get money on time or earlier, you need to use higher gas fees just like in btc tx, higher sat/byte. Of course, the gas fees change from one time to another, and you have no control on that. What the OP can do, is just wait for it to be confirmed and next time use higher gas fees from what is the recommended gwei at that time. Right now, you have very little option as the eth network is really a pain these days.

In such cases, when I need to transfer coins from my wallet to the exchange, I do it on weekends, when the commission fee is reduced due to a decrease in network congestion. In addition to the transfer on such days, it turns out to be less expensive to conduct operations on decentralized exchanges and you can spend 50% less than on working days.

Okay what's the best days and times of the week for cheap fees?

[moderator's note: consecutive posts merged]

wxa7115

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Quote from: very_452001 on March 04, 2021, 08:10:34 PM

Its like every 10 secs the fees are so volatile according to:

https://ethgasstation.info/index.php?curr=gbp

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei Shocked

Now I see on the Etherscan global transaction explorer that it will take 11hrs still Pending status for confirmation wth Angry

When I choose gwei when sending, ok after that I take a few mins to double check deposit address to make sure you know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now?

I do not have used ethereum in a long long time but does ethereum not have the possibility of increasing the fee even after you have sent a transaction just like the bitcoin network does?

I say this because it seems your problem is not with the high level of the fees but with the volatility of them, and if such a feature is present on the ethereum network then you can just increase the fee and get your confirmation in just a few minutes despite the volatility.

tvplus006

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Quote from: tippytoes on March 05, 2021, 05:49:24 PM

Quote from: Johnyz on March 05, 2021, 05:38:18 PM

Fees are moving too and its really volatile on ETH platform and no one can help you with this one since this is our common problem. If you used a lower fees then expect a big delay on your transactions, since you already confirm it all you have to do is to wait for confirmations, better to use a higher gas if you badly needed the money,

That's the only option for now to get ahead with the game. If you want to get money on time or earlier, you need to use higher gas fees just like in btc tx, higher sat/byte. Of course, the gas fees change from one time to another, and you have no control on that. What the OP can do, is just wait for it to be confirmed and next time use higher gas fees from what is the recommended gwei at that time. Right now, you have very little option as the eth network is really a pain these days.

In such cases, when I need to transfer coins from my wallet to the exchange, I do it on weekends, when the commission fee is reduced due to a decrease in network congestion. In addition to the transfer on such days, it turns out to be less expensive to conduct operations on decentralized exchanges and you can spend 50% less than on working days.

rozak

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Quote from: very_452001 on March 06, 2021, 11:46:50 AM

So Ethereum 2.0 will fix this volatile gas fee issue?

To solve this transaction fee problem, I think it has nothing to do with ethereum 2.0

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

Moreover, there is already a discussion regarding the transaction fees that ethereum developers will complete by the middle of this year. we just try to wait.
When will Ethereum 2.0 be released officially?

if I'm not mistaken it will be finished in 2023 in the future. This is related to supply as well as how ETH is mining in the future. (Please correct if the information I received is wrong)

Quote from: very_452001 on March 06, 2021, 11:46:50 AM

Finally will people wait for Eth 2.0 or will move to other smart contract platforms like Binance Smart Coin or whatever it is that is cheaper?

I think the move from using the ethereum blockchain to binance has occurred in several projects.
BSC adoption is now increasing for several new projects as well for those migrating from ethereum to binance.

very_452001

sr. member

Activity: 1056

Merit: 270

So Ethereum 2.0 will fix this volatile gas fee issue?

When will Ethereum 2.0 be released officially?

Finally will people wait for Eth 2.0 or will move to other smart contract platforms like Binance Smart Coin or whatever it is that is cheaper?

Review Master

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Quote from: Bttzed03 on March 05, 2021, 10:59:31 PM

That wallet from brave browser is tied to Uphold right? The one that asks you to complete KYC before you can send/withdraw funds from that wallet? I wouldn't suggest that.

Nope, i'm not taking about brave rewards, but i'm actually talking a extra feature which is offered by brave browser and it's called "Crypto Wallets" which is basically the samething like the extension of metamask with a modified version to use without any problem. Just install brave browser and than open it. After that, follow according to attached image and anyone will get that option to use. So, crypto wallet is different from brave reward system and it's totally different and don't need to do kyc. Cheesy

Lantind

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Quote from: criket on March 05, 2021, 11:13:51 AM

that's why you should choose the biggest or fast Gwei recommendation. just to anticipate if something happens like yours. a little more expensive but we can trade it right away. just wait and will also enter. but sometimes something fails if there is not enough gas and there is no drop in Gwei in the 11 hours you wait.

Yes, but for now I see the cost of Gwei has also decreased, hopefully it will be very useful for those who are still experiencing pending transactions due to insufficient Gwei when making transactions.

DapanasFruit

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What is going with the Ethereum network right now is actually not what we are here for in cryptocurrency. Of course, the main objective of getting into the blockchain and cryptocurrency is to get away from the control of traditional institutions that for hundreds (if not thousands) have been control us, the market, the money, the banks. But the level of gas fees required for each transaction can be limiting the growth and adoption of cryptocurrency and that is why people behind Ethereum should double up the effort and stack on a lot of ingenuity so that full implementation of Eth 2.0 can change this whole reality evading the ERC-20 assets. As what I am always saying, this is not what we signed up for.

TastyChillySauce00

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You should always set the gas above what's shown in ethgasstation, they're calculating average fee based on previous block meanwhile many exchanges set gas fee at high rate (still influenced by previous eth gas craze). They're not the absolute guide for setting the gas price so therefore a precaution needed which is setting gas above rate of gasses from previous blocks.

Bttzed03

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Quote from: very_452001 on March 05, 2021, 10:51:40 AM

~ I thought blockchain suppose to be more efficient and cheaper than the banks. What's going on?

If you take into account clearing days, it can be much cheaper than banks. Anyway, blockchain is not supposed to be about the fees but the removal of third party intermediaries for transactions between two parties.

Quote from: Review Master on March 05, 2021, 11:24:47 AM

~
Just select "Slow", "Average" or "Fast" mode to complete that transection and sometime, it cost lower fee than what it's showed before clicking on "Confirm" buttom to do any transections. So, better to use that functionality of metamask or crypto wallet from brave browser instead of using those websites to adjust gwei, IMO.

That wallet from brave browser is tied to Uphold right? The one that asks you to complete KYC before you can send/withdraw funds from that wallet? I wouldn't suggest that.

tippytoes

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Quote from: Johnyz on March 05, 2021, 05:38:18 PM

Fees are moving too and its really volatile on ETH platform and no one can help you with this one since this is our common problem. If you used a lower fees then expect a big delay on your transactions, since you already confirm it all you have to do is to wait for confirmations, better to use a higher gas if you badly needed the money,

That's the only option for now to get ahead with the game. If you want to get money on time or earlier, you need to use higher gas fees just like in btc tx, higher sat/byte. Of course, the gas fees change from one time to another, and you have no control on that. What the OP can do, is just wait for it to be confirmed and next time use higher gas fees from what is the recommended gwei at that time. Right now, you have very little option as the eth network is really a pain these days.

Johnyz

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Fees are moving too and its really volatile on ETH platform and no one can help you with this one since this is our common problem. If you used a lower fees then expect a big delay on your transactions, since you already confirm it all you have to do is to wait for confirmations, better to use a higher gas if you badly needed the money,

Mpamaegbu

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People say Bitcoin is volatile, I tell them not to conclude yet until they've had a moment with ETH gas fees. It's really crazy, honestly, to say the least. I have had an ETH transaction hung for several days because of this said fluctuations in gas fees. I remember with sadness when I used to pay 6 Gwei as gas in 2019. Now, a similar transaction of that magnitude would go for over 50 Gwei. With the way things are with ETH gas fees, I think it's still a miracle that Ethereum is still soaring in price. Well, may be sooner than later this effect will set in now that CZ Binance has a smart contract in BSC that can challenge the ERC. Yah, I know a lot of people will argue that BSC is centralized with its attendant consequences while ETH is decentralized. Even at that, is that why the community must go through hardship because it wants to process through ETH?

zasad@

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Quote from: very_452001 on March 05, 2021, 10:51:40 AM

Can my transaction be stuck or denied if I set a gas fee that becomes too low now?

When will this gas price issue be fixed? I must have spent up to $100 a week on gas fees Angry

I thought blockchain suppose to be more efficient and cheaper than the banks. What's going on? I'm spending more on gas fees than actual filling up my car with gas!

High gas fees encourage people to leave their coins on exchanges to save on withdrawal fees, this is a risk.

Is it possible to lose my coins if I set a fee that is too low causing my coins to be stuck in limbo forever somewhere in the blockchain Shocked

?

If you sent Ethereum coins, then it's okay. Wait a while, your transaction may be confirmed faster.
This transaction will not be deleted from the mem pool for several more weeks.
If you have sent tokens, then the smart contract may not have enough gas and the transaction will be completed. You will lose some of the commission.

Increase of commission and cancellation of transactions in MyCrypto wallet
https://bitcointalksearch.org/topic/--5315007

Bustart

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Quote from: thesmallgod on March 05, 2021, 03:10:05 PM

The gas fee is not stable just as the price of ETH is rapidly changing and this is the reason why it is not advisable to set the gas fee to low priority because if the traffic increases due to rise or fall in the price, the gas fee might go up which makes you transaction get dropped on the block chain and this might lead to late confirmation. I have experience similar scenario. It took about a week before my transaction get complete when the gas fee fall back to value below the amount I set for transaction

This is really getting serious right now, erc20 community must take some actions with these underlying problems because if there's no correction happening I think holders would divert on other asset like tron or other platforms. There's a lot that could be promising, depends on it trending capacity which eventually go into tight competition with other known altcoins.

Zeehaxan

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Quote from: very_452001 on March 04, 2021, 08:10:34 PM

Its like every 10 secs the fees are so volatile according to:

https://ethgasstation.info/index.php?curr=gbp

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei Shocked

Now I see on the Etherscan global transaction explorer that it will take 11hrs still Pending status for confirmation wth Angry

When I choose gwei when sending, ok after that I take a few mins to double check deposit address to make sure you know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now?

Unfortunately at the moment gas cannot be controlled and we can not do anything about it but the good news is that eth developers will launch solutions by april which will be tested for couple of months and activated in july nd this upgrade will significantly reduce and regulate gas prices.

thesmallgod

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The gas fee is not stable just as the price of ETH is rapidly changing and this is the reason why it is not advisable to set the gas fee to low priority because if the traffic increases due to rise or fall in the price, the gas fee might go up which makes you transaction get dropped on the block chain and this might lead to late confirmation. I have experience similar scenario. It took about a week before my transaction get complete when the gas fee fall back to value below the amount I set for transaction

Renampun

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Quote from: very_452001 on March 04, 2021, 08:10:34 PM

...

all experienced this. I suggest you don't choose the 'low' transaction...
gas fee eth changes in fractions of a second due to the busy transactions that take place in the market. at a minimum, you have to choose 'medium' so that your transaction is fast processing. *btw, Currently, I refrain from transferring my HODL tokens due to high gas fees

Review Master

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Quote from: very_452001 on March 04, 2021, 08:10:34 PM

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei Shocked

Samething's happened with me previously and i didn't use/look into that or other websites where gwei price is monitored. As i pefer to use built-in metamask which is called "crypto wallet" from brave browser where transection fee or price of gwei is automaticlally adjusted by current situation. Just select "Slow", "Average" or "Fast" mode to complete that transection and sometime, it cost lower fee than what it's showed before clicking on "Confirm" buttom to do any transections. So, better to use that functionality of metamask or crypto wallet from brave browser instead of using those websites to adjust gwei, IMO.

Topic: Volatile Gwei Gas Fees help! - page 3. (Read 600 times)