Bitcoin Forum

 :-\
https://cointelegraph.com/news/major-ethereum-gas-fee-overhaul-eip-1559-scheduled-for-july

Here's to hoping they can't deliver the devs the asics in time to prevent a split coin hardfork so they have to push this out a few months.

I got a feeling there's going to be some disappointed people when they find out this doesn't help gas fees as much as they thought and the price tanks on a buy the rumor sell the dip into a bear market.

In a long run deflation will aid ETH. Be it, burn those fees.

https://www.crypto-news-flash.com/majority-of-ethereum-miners-support-eip-1559-while-chinese-miners-discuss-a-fork/

PS: Wasn't our survey.

That article is extremely misleading and misrepresent's the poll. 

Miners did not vote in full favor of eip-1559.  In fact they voted in favor of kicking off the asic's with eip-969.

There would have been an entirely different result if it was reject eip-1559 or accept eip1559.

That could affect ethereum performance in future and maybe force projects to start leaving the blockchain for another now that we have better ETH contestants, won't that make ethereum lose its second position on coinmarketcap? This is worrisome

Ok, and if fork happens how would you delay a difficulty bomb on the chain that didn't implement EIP 1559?
One of the changes in London upgrade is also a delay of difficulty bomb which is a much bigger problem then burning the gas fees because when it kicks in in just a 2-3 months block time would grow too much. We had those situations 2 times already if i'm not wrong

I'm also a home miner and I don't like and support EIP 1559 but do we have a choice? The reason they are just delaying difficulty bomb and not removing it every time it kicks in is that miners/pools don't have a choice but to support what they do with ETH

Yes, and it sounds giust just like extortion... So much for decentralisation...

Well, if those were the options... the results doesn't mean what they say.

https://www.crypto-news-flash.com/wp-content/uploads/2021/02/Ethereum-ETH-7.jpg

I still dont understand how EIP1559 will reduce gas fees, isnt it just burning gas fees? Instead of fees going to miners they are burnt instead, rather than actually being REDUCED for the user sending the transaction. my understanding EIP 1559 is more about making gas fees being more transparent up front and removing guess work?

 ;) anyone here moving their hashrate to support our miner gangs ?

https://twitter.com/RedPandaMining/status/1368625214674796550?s=20

For educational purposes, let's collectively move our hash to http://ethermine.org April 1st for 51 hours. @etherchain_org
 @BitsBeTrippin
 @SonOfATech
 @maxvoltage
 @SavageMine
 @VoskCoin
 @Nemisist2
 @notyournormalm1
 @BrandonCoin1
 @GuntisVitolins
 #eip1559 #stopeip1559 #Ethereum

I'm there anyway with 8 X 3090's as of today.... Add me!!

Ive been using ethermine for a long time now, where were you before?

Is there any news on this? Is it still planned for July?

This is not planned, it is confirmed. It will happen.

It's not meant to lower gas fees. Layer 2 scaling solutions like Polygon and Optimism will do that because the transactions will be confirmed off the chain. Bitcoin will also have layer 2 solutions, for example the Lightning network.

The main benefit of EIP-1559 is the burning of ETH which will curb or even deflate the total supply.

All these people moving their rigs to Ethermine has lowered my payouts on Ethermine. Thinking of switching to another pool. I have 1.4 Gh/s and the payout is very low right now. Thanks to all these miners increasing the hash rate on Ethermine.

Layer 2 solutions will lower fees. EIP1559 is meant to stabilize fees so they are predictable and to burn the fees so the supply of ETH is reduced.

Layer 2 combined with EIP1559 will make mining Ethereum a lot less profitable.

Unfortunately the reason is not this, changing pools will not solve anything because what is causing the decrease in the rewards is the increase in the hashrate and a momentary reduction in the value of the fees.

Yes you are probably right. Did you notice the same reduction on your side? Which pool are you using?

Mining rewards on all available ETH pools are down right now, I guess we are in one of those days where ETH mining isn't that profitable, well tomorrow is another day

The fees are still pretty high in my opinion. Even though the mining rewards are a little lower the fees are high because the price is almost $2200. Basically even with 100 Gwei which seems to be the min fee these days to send a regular transaction ETH costs $4 and for ERC20 is over $12. This is still expensive.

I think the lowest i've seen the fees is 80 Gwei. So due to all these smart contracts the network will keep being conjested and we will have an average fee of 100 Gwei for the next few months. At least until the DeFI and NFT starts to calm down.