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Topic: Why Gas Fee is too High? - page 7. (Read 1129 times)

legendary
Activity: 2226
Merit: 1086
duelbits.com
September 30, 2021, 06:59:14 PM
#82
Fees are getting higher maybe because of Mining companies in China are being forced to suspend their operation and that could really affect ETH network.
Are you sure about this? I think gas fees were already high before the issue of China banned crypto mining. The number of transactions that are increasing massively probably can be one of the factors to trigger the expensive gas fees. But it is only my guess, not really sure whether it has a big influence or not, for the gas fee price. Well, let's just wait for what Vitalik and his team do, to deal with the expensive gas fees.

hero member
Activity: 3024
Merit: 745
Top Crypto Casino
September 30, 2021, 06:25:50 PM
#81
Check gas station feature of Etherscan and follow the page for getting actual info regarding token transfer fee on Erc20 network. If the bull market continues it will be hard to process transactions less than $10 fee, unfortunately.
411 gwei is the one that I've seen. I'm surprised to see that because while I'm checking on it, the highest was just around 50 gwei and after that moment a few minutes has passed.
It went high to 411 gwei and now it's back to 114 gwei. It is for sure tha it was made many erc20 tokens that clogged the network.
Fees are getting higher maybe because of Mining companies in China are being forced to suspend their operation and that could really affect ETH network. Well, this has been a problem since last year and that’s why many choose other network as an alternative, ETH has to do something about this one. If there’s no choice to use other network, then wait for the fees to go down a little.
That might be the other reason but it's also quick to see that the fees have dropped just now. Lowest in the minutes that have passed was 61 gwei.
I'll stop monitoring it as it will always be fluctuating and it's usual.
legendary
Activity: 2940
Merit: 1083
September 30, 2021, 06:19:42 PM
#80
Fees are getting higher maybe because of Mining companies in China are being forced to suspend their operation and that could really affect ETH network. Well, this has been a problem since last year and that’s why many choose other network as an alternative, ETH has to do something about this one. If there’s no choice to use other network, then wait for the fees to go down a little.

I think it doesn't have to do with that. Fees are already a problem even prior to China suspending and banning crypto transactions. There's no choice but to wait for some deployments to fix the issue about fees. There are other networks too with low fees such as BSC, Kardiachain, Waves.

We need to be used on this from now. High fees will now be always on our regular transactions.
full member
Activity: 2128
Merit: 180
September 30, 2021, 06:03:00 PM
#79
Check gas station feature of Etherscan and follow the page for getting actual info regarding token transfer fee on Erc20 network. If the bull market continues it will be hard to process transactions less than $10 fee, unfortunately.
411 gwei is the one that I've seen. I'm surprised to see that because while I'm checking on it, the highest was just around 50 gwei and after that moment a few minutes has passed.
It went high to 411 gwei and now it's back to 114 gwei. It is for sure tha it was made many erc20 tokens that clogged the network.
Fees are getting higher maybe because of Mining companies in China are being forced to suspend their operation and that could really affect ETH network. Well, this has been a problem since last year and that’s why many choose other network as an alternative, ETH has to do something about this one. If there’s no choice to use other network, then wait for the fees to go down a little.
hero member
Activity: 3024
Merit: 745
Top Crypto Casino
September 30, 2021, 05:53:47 PM
#78
Check gas station feature of Etherscan and follow the page for getting actual info regarding token transfer fee on Erc20 network. If the bull market continues it will be hard to process transactions less than $10 fee, unfortunately.
411 gwei is the one that I've seen. I'm surprised to see that because while I'm checking on it, the highest was just around 50 gwei and after that moment a few minutes has passed.
It went high to 411 gwei and now it's back to 114 gwei. It is for sure tha it was made many erc20 tokens that clogged the network.
sr. member
Activity: 1204
Merit: 253
Undeads.com - P2E Runner Game
September 30, 2021, 03:19:31 PM
#77
Logically I can explain like this.

If we want to go somewhere by taxi, and there are only 10  taxi available, but who want to order and ride the taxi are more than 1000 people at that time, then what happens? of course the taxi will choose which of them can pay more for its services.

That's what's happening at the moment, ETH is being heavily used so the gas fee is very high. Each transaction will be processed if paying a higher fee.
jr. member
Activity: 840
Merit: 4
September 30, 2021, 03:03:44 PM
#76
It's Ethereum blockchain and high gas fees is intimate to it. Imagine trying to by buy a token worth $50 and paying gas of $50. It's of no use and it has out me off dabbling in anything on that platform. Instead I look out for tokens with BSC or Matic cross bridging, these projects or platforms have low gas fees at least
hero member
Activity: 1834
Merit: 879
Rollbit.com ⚔️Crypto Futures
September 30, 2021, 10:52:09 AM
#75
From my understanding and experience of why gas fees are high is usually because of demand! If you remember the days of the crypto kitties gas fees were high because Ethereum network was constantly engaged and anybody that wanted their coins moved in the next block had to pay a much higher transaction fee to be the highest bidder so that miners could prioritize moving your coins and same thing happening now which is usually during peak hour but to save on fees try sending your coins during the late and early hours of the day,so if you are in no hurry try to take advantage of being the early bird to spend less on TX fees.
member
Activity: 252
Merit: 10
September 30, 2021, 10:32:49 AM
#74
It can be expensive because Ethereum feels this Altcoin is an Altcoin with a high level of interest and they feel it is a good Altcoin. Another reason I can't explain why the cost of ETH gas is expensive is because I, like you, are still looking for an explanation from people who know more about this.
hero member
Activity: 2982
Merit: 610
September 30, 2021, 10:19:01 AM
#73
Sometimes we feel not good after paying a High Fee on ETH  Smiley But I want's to know why this?

I thought there is huge changes after the upgrade but it was really disappointing as the fees were still high and it never encourages people to use ETH but instead of finding another platform that could offer low fees.
I'd never think about there is huge demand because if there is, then we also think that Bitcoin fees will also be high but it was not the thing we saw. Only ETH has that surge and honestly, it has become a burden to the user like paying $10-$20 depending on the speed confirmation of the transaction, it finds ridiculous.
sr. member
Activity: 2660
Merit: 339
September 30, 2021, 09:58:12 AM
#72
I get frustrated anytime I have a little tokens to transfer to the exchange, just few minutes ago I paid gas fee of $13+ just to transfer few tokens to the exchange and it took 1 hour plus for the transaction to be confirmed, not very nice, eth network is becoming too difficult.
Absolutely right, it’s very disappointing when i faced such issue at the moment in Ethereum blockchain because i need to transfer small amount of ETH in other wallet, And i have ETH in Binance exchange but binance withdrawal fee is 0.005 eth (worth around 15$) where i will transfer only 10$. That means i have to spend 15$ fee for 10$.
There are many factors for this high fees like too many transactions and team is not responding like they need to do about this world wait for Ethe2.0 in London fork but nothing happen now we have some more frustration as devs are not responding as they have to talk about this issue if this is not solved in near future then surely peoples will be trying to have some alternative of this because recently we are watching few blockchains are coming, and their fees is low, and their features are also much better than Ethereum, so team must take some immediate action about these fees and give some better solution for users.
sr. member
Activity: 1456
Merit: 267
Buy $BGL before it's too late!
September 30, 2021, 09:00:26 AM
#71
What this high ETH gas fee has caused me, is not a small thing at all. The first experience is when I have to spend almost half of the money I realized from that coin due to that allow. Every single transaction now is above $10 which is too high for not only me but I think for others too. Cause have seen people talk about this on different platforms across. Something has to be done before the issue gets out of hand. It would be nice if we have something below $2. That will be good.

That happened before and I was assuming that ETH adjustment will be permanently but it's not, the value of gas fee is again too high
where small time traders are unable to deal with it. Most of those who have issue with fee are now switching to other alternative chain
they are not willing to lose their money with fee alone.

ETH needs to evaluate this again and try to adjust for much competitive gas fee.
member
Activity: 574
Merit: 10
Gistcoin
September 30, 2021, 08:48:15 AM
#70
indeed there should be an update of the Ethereum network and useful implementations such as scalability, security, speed and so on.
therefore I am looking forward to Ethereum 2.0 because of its ability to staking or locking crypto assets into the network and being able to earn some kind of “interest” like a deposit in a bank. This staking process is claimed to be easier and suitable for passive income.
member
Activity: 879
Merit: 10
Sovryn - Brings DeFi to Bitcoin
September 30, 2021, 08:36:22 AM
#69
What this high ETH gas fee has caused me, is not a small thing at all. The first experience is when I have to spend almost half of the money I realized from that coin due to that allow. Every single transaction now is above $10 which is too high for not only me but I think for others too. Cause have seen people talk about this on different platforms across. Something has to be done before the issue gets out of hand. It would be nice if we have something below $2. That will be good.
full member
Activity: 1358
Merit: 104
September 29, 2021, 12:48:16 PM
#68
Now ETH transaction network gas fee is very high.Every single transaction needs 10$-12$ gas fee right now.I think it will very big problem for us.I think that problem solve will be this year. I Think ETH gas fee solve this problem and development in future and Update ETH.2.0.
sr. member
Activity: 2226
Merit: 259
Buzz App - Spin wheel, farm rewards
September 29, 2021, 12:39:48 PM
#67
I get frustrated anytime I have a little tokens to transfer to the exchange, just few minutes ago I paid gas fee of $13+ just to transfer few tokens to the exchange and it took 1 hour plus for the transaction to be confirmed, not very nice, eth network is becoming too difficult.
Absolutely right, it’s very disappointing when i faced such issue at the moment in Ethereum blockchain because i need to transfer small amount of ETH in other wallet, And i have ETH in Binance exchange but binance withdrawal fee is 0.005 eth (worth around 15$) where i will transfer only 10$. That means i have to spend 15$ fee for 10$.
sr. member
Activity: 1456
Merit: 267
Buy $BGL before it's too late!
September 23, 2021, 03:01:40 PM
#66
It has already been written in this topic above, everything is connected precisely with a large number of operations through the network, a high degree of community interest in projects, and a fairly high cost of the coin itself, I think that it will definitely not be cheaper if the developers themselves do not change the approach, and they before the introduction of 2.0, nothing is fundamentally, they will not change anymore.
to turn into a low-cost platform is unlikely to be done by ETH. maybe this could be the distinctive identity of ETH to be a high cost platform. maybe ETH will provide more different and better features in the future.
We never know. This issue was tackled a lot of time and still nothing has been changed. If possible, to use other chain better doing that instead of stressing yourself wondering. There are many available competitive chains now which do offer far lesser transaction fees.
BNB is one of the best example and if you are into exploring ADA and Sol are also hot now, you can check them out and see if opportunities using this system will give you some good benefits.
jr. member
Activity: 840
Merit: 4
September 23, 2021, 02:50:03 PM
#65
Sometimes we feel not good after paying a High Fee on ETH  Smiley But I want's to know why this?

I feel my emotions with this


The cause is not far fetched. Ethereum is a very popular platform(at least for now) so it is home for a lot of transactions from the DeFi space. So naturally the price of gas should be bumped up
jr. member
Activity: 1442
Merit: 2
September 23, 2021, 02:04:47 PM
#64
Honestly, I can't find any logic for this exorbitant gas price. I can't exchange many of my cryptocurrencies because of this high gas price. The same condition has been prevailing for the last few months. I'm hoping that ETH 2.0 will put an end to my wait.
full member
Activity: 812
Merit: 100
September 23, 2021, 12:05:12 PM
#63
It has already been written in this topic above, everything is connected precisely with a large number of operations through the network, a high degree of community interest in projects, and a fairly high cost of the coin itself, I think that it will definitely not be cheaper if the developers themselves do not change the approach, and they before the introduction of 2.0, nothing is fundamentally, they will not change anymore.
to turn into a low-cost platform is unlikely to be done by ETH. maybe this could be the distinctive identity of ETH to be a high cost platform. maybe ETH will provide more different and better features in the future.
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