Bitcoin Forum

sometimes our current position is almost the same, seeing the incredible growth of Ethereum, the extraordinary achievement this year. we are happy, but besides that we also feel that something is quite concerning. well, all of you must know, GAS fees have killed traders who get tokens and coins from the results of airdrops or bounties. their wallets will become completely useless when they painstakingly spend their time, effort, and thought acquiring a few tokens for under $ 100.

Until when will Vilatik and all those who have control over these increasingly crazy transaction fees come up with a solution?

I agree that the BSC network has provided relief, but what about bounty hunters and airdrop hunters who get ERC20 tokens?

how can Vitalik cover his ears from the screams of Ethreum lovers?

let's complain together  ;D

Vitalik has proposed the solution to fix this problem but the main problem was on the minersof ethereum chain. The majority of miners were opposing the solution and they were creating their own solution (EIP). I hate POW consensus.
You must try to search some latest news about the battle between ethereum core developers and miners.
Both parties were issuing their own proposal.

Well, I think it's high time vitalik stop minding the decision of Ethereum miners and just go ahead with whatever solution that will put an end to the menace we are currently experiencing on the Ethereum blockchain, in as much as its very OK for vitalik to listen to the miners cus some how, they are the ones protecting the network, the users of Ethereum and erc20 tokens are also important and should be given a listening ear, we all are tired of the high fees, the miners are not feeling the pain we are feeling, so vitalik and his team should work something out to help solve this problem of high fees, it's killing and highly frustrating.

Its not how a consensus works. To win the battle, the EIP 1559 supporter need to dominate the network hash to win the consensus.
They dont need to be a miner to do that, they can rent some hash power to mine in the supporting pools.

I don't think Vitalik cares about tokens at all... I mean, those are smart contracts that cost less than $10, anyone can create a token and for sure Vitalik sees them as shit coins. And if the fee is too high to get profit from the coin, then it was only a waste of time and a waste of resources for all.

If fees and gas represent a problem for ETH then Vitalik will find a solution, but right now we can see how much he cares with a give-a-fuck-o-meter:

That's the problem of POW algorithm. I believe that's one of the major reasons why Vitalik proposed to move to POS and that will happen faster than we anticipate. With the introduction of the Beacon chain, ETH POS algorithm is already here, but not officially moved out of POW.

This network movement from POW to POS will address a number of issues including gas fees and scale up the network to process more transactions per block. So Vitalik has already worked on a solution and hopefully we will see the implementation in 2021 iteself.

News ref: https://blog.makerdao.com/how-ethereum-2-0-will-address-gas-issues-and-enable-dai-and-defi-to-scale/

Maybe Vitalik cares about all ERC-20 tokens or legitimate altcoins transaction cost. ETH 2.0 one promoted feature was high TPS, which means now Ethereum has low TPS. Or is it time to close defi hype? For this transaction cost users are switching to another blockchain and centralize exchange. Vitalik wants to close this high cost, we got some news of another fork of Ethereum.

Don't waste your time hoping because vitalik won't hear you and   eth is the best of the best,  the altcoin king ;D so suck it up like a man,
All you can do is hope that eth 2.0 comes through according to the time it was stipulated otherwise the road is very very far ahead to pay high gas fee.

You haven't heard of the news. By July, it's said that this upgrade is about to happen that shall eliminate the high transaction fees.
(https://finance.yahoo.com/news/ethereum-eip-1559-fee-market-154032902.html)

Yes its happen if consensus accepted that EIP, just hope that implemented will do smoothly.
The miners will fight so hard to cancel that implementation, since they receive many profit from high gas phenomena.

They don't have any force to stop it. ETH is also about to go to POS so miners have already accepted that long time ago. They're just enjoying the profits that they can make while ETH is still mineable.
Because when it's already a POS algo, they'll have to mine another coin and will just have to accept that ETH is already a staking coin.

whether this will be an overthrow of the Ethereum network, when the whole team and the developers are no longer in agreement the impact is quite alarming.


It is true that our hope to continue having Ethreum in 2021 is Ethreum 2.0. We are totally bored, as someone who only holds Ethreum under $ 100 thanks to bounty hunters who are hampered by their payments due to GAS, so I hope you understand what we want.



I believe there is always a solution to every obstacle Ethereum is facing, though we only need to wait for it at the end of 2021.


Let's toast for a moment  ;D

Well, I think Vitalik is well aware of this and I'm pretty sure he will think of a way out of this. however, if this continues, little by little people will turn from ethereum to BSC. Well, there are still quite a few alternatives out there. however, Vitalik needs to look at this and find a solution.

Maybe not when I am slowly losing patience with it but still have to accept to use it and incur ridiculous transaction fees. But I will be inclined and the solution that ETH will make the network faster and cheaper, indeed the generation that I still use until now I always use it, even though there are platforms that provide a good experience. More than that, the profits from the projects on ERC20 allow me to accept those crazy fees, which would be unfair to those with small deals, but I think people will accept and wait for what's to come. Better coming to ETH.

Eth price is high and so will the transaction fees, it's that simple if you look at it that way. With a solution that relies upon consensus, the miners will always want to win when it favors them. keep bugging Buterin on his account that will keep him reminded how fuckedup the network is but given that consensus will always be part of which way to go it may not really work.

hasn't the solution been prepared and will be released in July this year?
I read some news and information from members in this forum.
it seems very slow when the BSC has become an important role of Ethereum's very expensive transaction solutions. I think the momentum was taken by Binance.

Of course he does, he wants to make sure they are good enough and can be easy enough to do for people to want to continue to use Ethereum. No Ethereum means no money for him and his network.

But yes, I don't think he cares TOO much about wanting more tokens after what ICOs did to ETH's reputation:)

Like it or not, Vitalik has to listen to the community, apart from the illicit voice that came from airdrop and bounty hunters or not, Vitalik needs to fix this if he wants developers not moving onto BSC. In fact, for those investors who interested in investing in DeFi project that based on ethereum, this is a disaster. They need to pay expensive fees for farming and staking. Actually, ethereum is powerful, we can't deny it. However, it is replaceable by another project who sees the opportunity to be better from ethereum, one of them is BSC

Hoping that the new solution by Vitalik will be the solution to the problem. No one wants to pay fees in significant amounts.

No one will listen to complaints from these small matters, for ERC20 people should accept rather than complain to it because it will not help you much but only cause you more frustration. Participants in bounty or airdrop campaigns also need to understand that such free things will gradually become less and people should not expect much with such small amounts. Waiting patiently until the transaction fees drop is the only good and only option that everyone can.

No need though, I'm sure Vitalik or someone close to him are aware of what is going one and pretty much telling Vitalik the state of the fees that Ethereum has right now. So there's not need to complain or put pressure on the devs. And we all know that ETH2.0 is supposedly the solution for all or complains and headaches. So let's wait, if they can't deliver what they've promises then we have every right to move out investments and look for others.

I think that Vitalik himself and his managers are aware of all the unpleasant rumors and events that Ethereum now have. But you perfectly understand that the network is loaded due to demand. People create all the scaling problems themselves. The technical shortcomings of the work are of course obvious, but the team is trying to fix it.

We can only to wait for the introduction of updates and then it will already be possible to judge the future of Ethereum. But it seems to me that the developers had enough time to carefully think over the order of actions to correct the situation as soon as possible.

Miners: ETH is good mining
Devs: Ok stop PoW, let's go PoS.
Miners: +_+
Devs: Fee are too high, we need reduce.
Miners: We bought stuff and supporting the network for years, we will lost much money, noway.
Users: Fees are too high GTFO
Devs: Fees are too high GTFO
Miners: Ok, you never spoke, we fight then

Kinda logic, right ? ETH should be decentralized right ? Remember why ETC exists ? Because 1 guy was leading, but hopefully it won't be the case anymore.
ETH need that storm to rebuild correctly.

They have a good reason why they oppose it and it's based on greed
that is huge and their profit keeps adding up, but if the core developers of Ethereum will continue to allow this, they will lose projects intending to use Ethereum chain and their competitors will get closer, we now have so many discussions about developers and users shifting to other chains.

That's a good conversation but again when the buyers are feeling bad and they will be leaving ethereum and then who will be buying ether that will be dumped by miners?

The users have so many choices to move into another platform but miners have no choice. There is another problem like the total supply of ethereum is still unknown and that will make the situation even worst in the future

Sure, I myself left ETH until the issue is resolved. Fees are too high so far.
For now the miners are still well because the ETH value didn't dropped. Peoples still holding. Daily users are affected.

All this is an equilibrium, if the value drop, miners will rethink the offer or leave for a more profitable coin. But as the value remain profitable, they have no reasons to let the dev team reducing the fees.

It could be an major issue if the dev team succeed to reduce the fees because a lot of miners will have to leave ETH mining. And you need the miners to compute all the dApp until ETH go full PoS.

It's a big mess for everybody, for the users, for the miners and for the devs.
The only good thing I see is that peoples are starting to discover new blockchain that are potentially better than ETH. It demonstrate how a bad scalability is destructive.

They worked too late on that point and the solution is too slow to come. I won't be surprised if a speculative flip happen.