Bitcoin Forum

If 70% or 80% of your altcoins are token so not rejoice yet because high gas fee will suck you dry and you won't be able to sell your tokens if Ethereum reach 2000$+, those who will be left to take advantage of the bull season will be the whales

Because of the high fee, there will be lesser transactions done to some tokens. I have some old token that somehow becomes valueable right now but the ETH wallet only have $4 worth of ETH. In the past, $4 is enough to make a transaction from sending it to an exchange or to another wallet but now we need about $25. If I try to Swap it on Uni, the higher the fee which will amount to more than $25.

Something should be done about this. One of the reason why people go for crypto is because of the lesser transaction fee compare to wire transfer or Paypal.

Perhaps those token with enter into a swap or something, but yes, definitely with the high fee of Ethereum right now, one wonders how can they make money if they don't have much tokens in their wallet. And the ironic part is, the biggest the token you have, the more you have to pay for gas fees if you want to exchange it to other crypto. So I guess the whales will have to suffer the most here, unless there are ways to get around the high gas fees of Ethereum right now. Or I do hope that Ethereum 2.0 will answer the scalability issues it is facing.

ikr? the fee gonna be the biggest problem in ethereum pump, it's already too high that it's unbearable for majority of ETH users and imagine if the price rise even higher. Not that it's a bad thing but if the token price stays the same while ETH keep going up the disadvantage outweigh the profit, can't move things if the fee alone takes up more more than 30% of the tokens worth.
The only way to minimize money needed to pay fee is to send the tokens to centralized exchange but then again the exchange also charge high fee for ERC20 based withdrawal. the situation really confusing.

this gas fee is just too high and the only solution is to keep holding the token till further notice when gas fee will be fair. it wont make sense to use higher gas fee than the token value you are holding. only whales can trade now or people who have high token value.

The current situation is very complicated, for some people the rise in Ethereum has had a positive impact. But on the one hand, they are aware that this will also be problematic for the gas fee in the ethereum network. They may be happy with the Ethereum pump, but angry that the transaction fees are huge. there is nothing we can do, other than hope that this problem will be resolved when the ethereum 2.0 network reaches its final phase.

This is one of my recent problems even though the price of my alt-coin has been pump I couldn't sell it due to the high gas price,
I don't have enough money right now to put in on my eth wallet to send my alt-coins and also the price for each transaction is too high so might as well hold it and wait till the gas price goes down again.

This is a possibility and something I have been really thinking about lately,  eth is killing the fun of having altcoins or trade on altcoins because of high gas fees,  unfortunately for us, there is no boycott the gas, it must be paid if you must do any transaction, it is really frustrating situation.

It's only for the small traders on ethereum chain but the small traders who have been actively using another chain like tron will not get a big problem like ethereum.
This awareness should be made for the all of small - medium traders that actively using ethereum chain because their profit will be drained by the network.
It's not worth anymore to use swap service. If this will continue and uniswap might dead.

Its true that it sometime make me dreaming of alternate token in different blockchain for all those ERC-20 tokens that I owned like how USDT have its own TRC-20 version. Just imagine that gonna make thing a lot more easier. its basically like getting rid of people with lesser capital from making any trades and using something like uniswap? just  forget that, using swap service is like luxury on its own amid the ridiculously high fee.

Now it's time to opt to Tron network instead, all the tokens I hold in my wallet are not up to 70$ and using over 20$ to send them to exchange is something I can't do, it doesn't make any sense, also what's holding the EIP 1559 from launching? I heard this can solve the high gas fee on Ethereum network

Fees are really huge now but I'm okay with that as I can't sell my tokens anyway, they are still worthless until now so probably ETH needs to increase more, probably $10k then the tokens I hold my slowly come alive.

It will cut the tx fees on the ether chain but it's very sad to say that if miners don't even agree with it.

https://cryptopotato.com/the-plan-to-cut-ethereum-transaction-fees-gains-steam-meet-eip-1599/

You can try to read more from that article about what will be brough by EIP 1599 to the ethereum chain and its users. It contains a very interesting idea too dude.

True, there will be no way for low transaction fees if the Ethereum token continues to rise, actually this is everyone's complaint, but everyone also can't do anything about it other than be patient.