Topic: Why Gas Fee is too High? - page 5. (Read 1104 times)

It makes no sense to make a $25 purchase and then be expected to fork out an additional $25 - $40 transaction fee (call it what ever you like - it's just a transaction fee plain and simple) via ETH (so basically, you're buying the Tokens for double the asking price as if that's a good thing ?? ) ??

If too many transactions are carried out by people, there will be less mining of ethereum, thus making transaction costs more expensive and bigger, a lot of demand will usually result in ethereum being higher in volume value, this is what causes expensive transaction fees, because both are not balanced on the value of sales and mining, as we often find from the results of other existing transactions.

Now Gwei on the Ethereum network is at 60 to 70 Gwei with a transaction fee of around $13 more so it's still a big problem for some people who make transactions in very small amounts, this is what makes small traders unsuitable for using the Ethereum network so prefer a different network for the options.

High transaction fees on Ethereum network aren't a new thing anymore, Infact, most people transaction on Ethereum network this days are millionaires and don't really care about how high the fees goes, other guys have no choice and just learning to live with it, as for me, I can't remember the last time I did a transaction on the Ethereum network since the fees got so high, everyone is anticipating for the launch of ETH 2.0 and hoping it puts an end to the menace.

If you all pay attention to binance smart chain network, you will discover that fees on the network is also slowly rising, like for the first time as since I switch to BSC, this morning, I was charged a little above $1 usd for a smart contract transaction on network, I seriously hope BSC does not later in the future become as expensive as Ethereum currently is to transact on.

maybe you are not at the right time when making transactions so you get high gas costs. it's best when making transactions Always pay attention to the right time when gas costs decrease to 32 gwei, because for now 32 gwei is already in the cheap category, because usually when experiencing high spikes up to 100 gwei even more than that. Well, it's best to find the right time when making transactions to make it a little more profitable.

Understand simply because their technology is still limited to meet the needs of users.
However users still want it, and that's the cause of high gas fees, it's understandable to argue to get what they want , only people complain about it even though they also want to use.

Now i can sense that there's no really chance for ethereum's high gas fees to be reduced. Maybe this is the reason why there are some arising networks with less gas fees and is usable for all unlike ethereum which only rich investors can afford. But this is the nature of ethereum so there's no way we  can change that. According to a tweet by a crypto investor Lark Davis, ethereum's high gas fees is due to explosion of NFT market. This makes ETH basically unusable for all but only the richest users.

why gas fee is so high ? i can often see this phrase in the wallet , exchanges or some websites that i use and if you click on it , there is some explanations but i dont know if the explanations are all the same .
you will not feel good if you pay high fee but the token your converting has a small value but why did you convert it anyway and why not wait for sometimes because there are times the fee is smaller . just check it from time to time

Some time have good time with lower gas fees transaction using erc20 coin network but you have active to check ethgass transaction fees, when lucky maybe you only need $4 fees for sending coin but not recommended for swap coin on uniswap. You will pay more than $30 each transaction from approving until selling or swap coin there.

To conduct transactions on Ethereum, you always have to seize the moment when it can be done in the best way. This can be done when the market dies down a bit and there are not so many transactions that compete with each other on the price of gas.

Ethereum's pool are vigorously stacked. Actually like the market interest, in case there's an interest of exchange the charge will increment since there's just restricted. I likewise have exchange to make in Ethereum blockchain, but since of the charge and the exchange I needed to do isn't too huge I live this is a direct result of I make endeavors to make the exchange.

If you still not accepted with eth gas too high better move and change network coin like polygon or bsc, there still lower fees for swap coin on market and sending to other wallet, under few cent you can trade bsc or polygon coin but can't if you have assets in erc20 network. Now many new coin listing always use bsc network and they think many investor interested with BSC than eth.

LOL.. almost a year has passed since the ETH gas price climbed to sky high levels. And we are still debating about it. Based on my experience with the cryptocurrency sector, I would say one thing. If the developers really wanted to reduce the gas prices, then they would have done that already (like what happened in BTC, where we are witnessing extremely low transaction fee after Lightning Network became popular). The developers don't want lower gas prices, because it will reduce their profits. So they will give excuses and delaying tactics like ETH 2.0, but on the ground there will be no real change.

maybe you are not the only one who has experienced this and all who transact with the erc20 platform will certainly experience it, and it seems that ethereum has not been able to change and reduce high costs as well as possible. You really have to be diligent in checking first before making erc20 transactions at https://etherscan.io/gastracker so you can find out when prices are really low, because if traffic is high automatically, high costs will occur too.

so it's nothing strange now that many are making sense that every transaction will be changed to cheap coin platforms such as BSC etc so that they can receive a value that is not too reduced due to high fees. there's nothing wrong with innovating and it's no longer a strange thing to do that even though you have to do several transactions. The important thing is that the goal will be achieved that what we get is not cut much because of costs.

ethereum has made innovations with the aim of reducing costs, at least starting to be able to match the past, but it doesn't seem to be able to be achieved because indeed very high transaction traffic results in obviously paying high fees, otherwise long queues can occur.
obviously what you say is true that small traders will be disadvantaged, but now we can innovate by using a platform that is cheap and widely available.

agree that ethereum should make changes as soon as possible because otherwise everyone will make changes to platforms that can indeed adopt low prices.
because there are already many other platforms that do that, it just depends on us as users, we must also be smart to take advantage of what is available.

Whenever their is high Demand of Transaction at one single time then the network got conjuncted and ultimately result in very high fees it mostly happen when market is at Bull/green and here the one who provide the high Gas fees only their transaction will be successfully and other with low fees their transaction is failed but as we hearing the news about ETH 2.0 I think it will back to normal once again

I'm also curious to see what improvements will solve their problem even if they successfully migrate to POS and how many bugs we will encounter during the migration as this is a very difficult situation for them. You can blame the NFT madness for the increased transaction fees, but what is the end result and how long will users be willing to pay for the higher transaction fees.

Gas costs are very high because so many people are using ETH and there is still no sharding in ETH. Once ETH knows how to take advantage of sharding, the costs will be lower and the network will be faster. No matter how many people join the network it will always be fast and cheap.

even setting a lower Gas fee can make the transaction fail. even that will only make your ETH Gas disappear for free for failed transactions.
for convenience, always set the highest Gas for fast transactions. if you don't want to wait for a transaction that may be delayed even fail.

High gas fee is caused by crowded transcations that took place on eth network, like the supply and demand idea. However, gas fee on eth will be much higher than the regular fee if you choose to prioritize your own transactions over the other other transactions on the network.

But if you'd like to pay low on gas fee then you should expect that your transactions to be slow, or wait if the gas fee dips.

Wow this is a good explanation for the high fee in Ethereum transactions but there are more to it. If this is the major cause, I think Ethereum developers would have gotten a better alternatives before now. There many reasons to the high price in the fee of Ethereum doing transactions. We can always look for more information for this reason from there platform.