Topic: What high gas fee have cost me - page 2. (Read 468 times)
The gas fee is not just going to be higher for you. We also went because ETH tokens are currently charging more gas fees. Because ether token gas is so high now that no one wants to do an ether project now. If someone gets 5$ to exchange that dollar token, he has to exchange 50$ for his gas fee. We have to pay more gas fees
I know that some rich people don't care what ETH gas fee was saying in 2021 when BTC was surging but for me it cut me off some wonderful opportunities, the most painful one was shiba inu could have been one of the early buyers probably a big winner know but couldn't buy because shiba inu started its journey on ETH chain. . . there are actually few others so I started looking for tokens running on BSC chain only..imagine.
Its only one of the many opportunities in the crypto space so don't worry about it too much.Shiba Inu isn't the only coin that will give you large profits. There will be many coins that will emerge in the future that can be like Shiba Inu that can give profits to those who will buy it. Of course the risk of this is very high but the reward of it is also very high. Still I'm worried in the Ethereum's very high gas fees than the profits that I and you can get on Shiba Inu. Maybe you can get more profits in the BSC by investing in the tokens under that chain. Just find it and be patient.
You are not the only guy who is irritated by the high fee, in my case there were some projects that I didn't invest because I was afraid of paying a high fee and for my bad luck they were projects that gave good profits and I lost because I didn't invest. this high issue is a headache, it doesn't make sense to send 50$ and pay $5 or more in fee, I'm just giving a random example
I understand your feelings OP, while meme coins are pumping hard I noticed that those running on ETH chain are growing faster than those on BSC, also most meme coins on BSC chain are scam projects, some meme coins investors targets only ETH smart contract tokens only, it was a painful experience.
For now, since the gas fee was high, it has remained. It's just that for wealthy people, paying for gas is not a problem. But if you need to sell a very small amount of tokens, then the gas fee is so high that it is not at all profitable to sell the received tokens. And in the end, all the coins that make up a very small volume remain on wallets or exchanges due to large gas fees. So the problem remains, but there is a very good way to move to other platforms such as Polygon where gas fees are very low.
I think this is a difficult problem to solve, when ethereum was skyrocketing and huge popularity they made a strange thing, i.e. very expensive transaction fees, to send ERC-20 tokens it cost around $40 and it took about 10 minutes to reach 12 confirmations and this is very bad thing for blockchain technology which is supposed to be cheap and fast.
they are big investors about the high cost of ETH gas is not a problem. only small investors feel the burden of ETH gas fees in every transaction. but I believe that very few small investors have been trading ETH in recent times. they focus more on BSC.
Indeed, the relatively high cost of gas is one of the reasons why investors (especially small investors) choose BSC over ETH. It's true what you said, maybe for big investors it's not a big problem, but for small investors maybe the cost of gas they spend could be the profit they get. Nobody knows that.for small investors it is very unlikely to make transactions, because as you said that the costs to be incurred are the same as exchanging profits.
I know that some rich people don't care what ETH gas fee was saying in 2021 when BTC was surging but for me it cut me off some wonderful opportunities, the most painful one was shiba inu could have been one of the early buyers probably a big winner know but couldn't buy because shiba inu started its journey on ETH chain. . . there are actually few others so I started looking for tokens running on BSC chain only..imagine.
Right now you also need to sacrifice the gas fee when you decide on investing in some tokens running in the Ethereum network but the good thing is if you are gonna land on some good tokens which will gonna massively multiply their price like Shiba Inu last time, then that would be a jackpot for you but considering the opportunity right now, there are lots of successful tokens that started on Ethereum network rather than BSC.
Before reaching the problem, have you ever wondered why it happened, and you were looking for it.
There are many things that could be explained, even if you don't understand how it works, as novices by nature always demand things for themselves, I can see greed as well as profit century of each individual. But with this space, seeing a great opportunity has really made people lose their minds. In essence, no one thinks the same way. The important thing is that when it is enough for each person to just look back at everything and the way they act, we will find our own answer.
There are many things that could be explained, even if you don't understand how it works, as novices by nature always demand things for themselves, I can see greed as well as profit century of each individual. But with this space, seeing a great opportunity has really made people lose their minds. In essence, no one thinks the same way. The important thing is that when it is enough for each person to just look back at everything and the way they act, we will find our own answer.
exactly the reason why so many projects like the metaverses projects are moving in matic platform and the likes because the fee could become a thing that holds it from having many investment.
there are quite plenty of us that have the same experience like you and have missed so many opportunities that could have become a great things in our life.
right now we should just move in using different platforms for investment so that we wouldn’t miss other opportunity just because of the gas fee because frankly, the gas fee of ETH is just madness. that's why people are moving away from ethereum blockchain since a few years ago. I can also feel that if you are missing the chance to become another millionaire
there are quite plenty of us that have the same experience like you and have missed so many opportunities that could have become a great things in our life.
right now we should just move in using different platforms for investment so that we wouldn’t miss other opportunity just because of the gas fee because frankly, the gas fee of ETH is just madness. that's why people are moving away from ethereum blockchain since a few years ago. I can also feel that if you are missing the chance to become another millionaire
I know that some rich people don't care what ETH gas fee was saying in 2021 when BTC was surging but for me it cut me off some wonderful opportunities, the most painful one was shiba inu could have been one of the early buyers probably a big winner know but couldn't buy because shiba inu started its journey on ETH chain. . . there are actually few others so I started looking for tokens running on BSC chain only..imagine.
It's true that the fees on the Ethereum network right now are very heavy on small players like you and like me, but I think this will only last for a while, we'll have Ethereum 2.0 with their full PoS in the future, based on what I've heard from people, the fees on the Ethereum network will be cheap with the new consensus.
With the current conditions on the Ethereum network, there are so many scam projects that are present on the BSC network, I hope you will not enter into scam projects that are on the BSC network.
I hope Ethereum 2.0 could lessen the struggle of most traders who want to save high fees. It has really been a burden especially for small-time traders and some got no choice but to switch to other network. Ethereum should really do something to fix it because this has been a huge problem for years.
The high Ethereum gas fees have really made most traders miss out on some important trade they should have taken but couldn't because the fees were too high, it was paying more than or almost the amount of tokens or coins you want to trade and I experience this too, I couldn't trade a particular token because the fee was almost the worth of the token and some I just did because I didn't have a choice. It is what it is with ETH gas fees now and I am trying to stay away from that network as possible. 😠
ETH fees have been very expensive since late 2019, with Ethereum 2.0, hope the gas costs can be reduced but in fact there is no change, there are a lot of coins in my wallet that have value but if they are sent to the exchange it doesn't have the end result that there is a loss. so I keep my tokens until the gas has decreased
The golden opportunity will come only once in your life and if you didn't gamble on it and you will never see another golden opportunity again like that. The ethereum fees at that time were still so cheap compared with this time. I will be saying the same not to sold my shiba inu too early when it would be mooning but you can't time travel to the when you have the intention to buy shiba inu from the market but the fees were preventing your todid it. Tokens on BSC will not have the same chance as shiba inu. BSC is full with shit scam tokens. Shiba inu got mentioned by elon and this is the key when it was so popular but what about BSC token?
It's not even verified run by the trusted developers. 90% chance of scam token.
They are not just unable to sell their coins on the ETH network, and this is sometimes simply impractical, the price of gas may exceed the value of the coin or equal it , and therefore other networks are preferable 
I know that some rich people don't care what ETH gas fee was saying in 2021 when BTC was surging but for me it cut me off some wonderful opportunities, the most painful one was shiba inu could have been one of the early buyers probably a big winner know but couldn't buy because shiba inu started its journey on ETH chain. . . there are actually few others so I started looking for tokens running on BSC chain only..imagine.
I've been waiting to be able to send ERC-20 tokens for a long time and hope the Ethereum gas price can go down, I think this is already unreasonable because the gas costs are very expensive, for those who transact with large values of course it's not a problem, and hopefully ETH2.0 will come answer all of these things.
It's true that the fees on the Ethereum network right now are very heavy on small players like you and like me, but I think this will only last for a while, we'll have Ethereum 2.0 with their full PoS in the future, based on what I've heard from people , the fees on the Ethereum network will be cheap with the new consensus...
I doubt that after the full implementation of Ethereum-2.0, the price of commissions will decrease so much that it will be equal to those that exist in alternative blockchains. After all, one of the essential components of the transaction cost is the price of ETH, which is now many times higher than the cost of coins in which the commission is paid on other blockchains.
.. there are actually few others so I started looking for tokens running on BSC chain only..imagine.
Have you bothered to think why the fees are significantly lower on the BSC chain? Apparently not, otherwise you would realize that the low fees come with a high risk. The BSC chain is centralized and completely controlled by Binance. As long as Binance is doing well everything is okay, but you are making yourself completely dependent on a company that is being eyed by many authorities worldwide.
they are big investors about the high cost of ETH gas is not a problem. only small investors feel the burden of ETH gas fees in every transaction. but I believe that very few small investors have been trading ETH in recent times. they focus more on BSC.
I also switched from Ethereum to alternative networks, I think only whales remained to trade on this network, who can easily say goodbye to $ 50-100 for 1 transaction or exchange.This should not last long, because we have been waiting for a transition update for a long time, and people are switching to alternative networks more and more, but ETH developers are not very concerned about this issue.
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