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So I have to pay the gas fees again to re-do for failed transactions?
That would mean you have to send a different transaction with a new tx hash so YES you would need to pay a new tx fee for that. It's one of the headaches of on-chain transactions over Ethereum and even in BSC. But BSC is much cheaper and less congested right? I don't understand how the sender is liable to the miners for failed transactions when the sender wallet allows different fee set speed send services, like slow, medium or fast. If sender is liable for failed transaction fees according to the eth blockchain rules then sender should definitely not be liable for failed transactions sent on normal default or fast fees because how is it the sender's fault  I wouldn't say BSC is less congested since there are also days when daily transactions surpasses Ethereum. Yes the fees are cheaper there since they have more control on the gas price with only 21 validating nodes. The validators changes from time to time but the total number doesn't. It's not the responsibility of the Ethereun miners how much fees you used to send. They also do not set the gas price. You should probably remove from your head the centralized finanvial system where fees are fixed for a while and refunds can be done. Dayum, just 21 nodes? How is this decentralized? How many nodes does Polygon & Tron have?
Its like every 10 secs the fees are so volatile according to: https://ethgasstation.info/index.php?curr=gbpI sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  Now I see on the Etherscan global transaction explorer that it will take 11hrs still Pending status for confirmation wth  When I choose gwei when sending, ok after that I take a few mins to double check deposit address to make sure you know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now? Ive been using gasnow.org when checking out gas fees and have integrated some browser extension which is helpful for me to check out if its worth to make out some erc20 transactions or not basing on the gas fees. I have checked out gasnow and it now turns to https://bitcoin.org/en/ or redirecting which i dont know on what happened but you could also check out on https://etherchain.org/tools/gasnowwhich it is just really normal to have those volatile Gwei counts from seconds to seconds which i consider to be typical or default. Yeah that gasnow site has been shut down. That was the best most accurate site for checking gas fees?
Its like every 10 secs the fees are so volatile according to: https://ethgasstation.info/index.php?curr=gbpI sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei Yeah this really sucks and it happened to me too both on the ethereum chain and on the bitcoin chain. As far as i know you can speed up your transaction, if you have sent it with metamask. Then your transaction will be rebroadcasted again with a higher gas fee. This is not ideal as you have to spend the gas fee twice and there is no guarantee for success but it might be worth a try if that transaction is time critical. There is also a way to remove your transaction from the blockchain, but that is more complicated and you definitely need to follow the guides there step by step. I thought it was impossible to remove recorded entries from a decentralized public blockchain with lots of nodes. So what do you mean there's a way to remove a transaction from a blockchain [moderator's note: consecutive posts merged] |
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I'm not sure anywhere in the defi space will offer you fixed rates on your returns but I'm not too sure how they work - some might. Sites like https://defipulse.com might provide more information on current interest rates but you should really check the tokens and their credibility before considering investing. I think decentralised exchanges might be safer that some centralised ones andvice versa so that'll be something you should take on a case by case basis. If you want to forget about your investment though, a dex is probably safer (but both might be at risk of exit scamming if they're not audited). Centralised exchanges also might be quick to leave users liable too for the exchanges loss - depending on the exchange. Which De-Fi tokens is know for good credibility? Okay you know of any good Dex's that have been audited? These Dex's have open-source code right? Thanks, |
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There isn't any serious allegation that tether ever printed money out of thin air. The reason why tether had to pay the fine was that instead of keeping money it received from people buying tethers in a bank account, tether used the money it received from the sale of tethers to purchase things such as treasury bills and other safe bonds. When someone buys tethers from tether, they generally do not intend to simply hold tethers, it is more likely for them to have the intention of using those tethers to purchase bitcoin or other cryptos. So I would expect the price of bitcoin to go up when tether issues large amounts of tethers. This is not unlike how I would anticipate the price of bitcoin to go up when people deposit large amounts of cash into their coinbase accounts, except amounts being deposited into coinbase accounts are not public, while the sale of tethers is public. The other reason people hold tethers because that want stable price to avoid volatility in the crypto market. So a person will sell crypto for tethers for price stability especially before a bear market so its not just used for buying cryptos. Is tether holding safe government bonds or high risk junk bonds? |
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Hi,
Stable coins such as USDC, Dai, GUSD and UST.
I'm looking for APY instead of APR cause interest does not get compounded in APR.
I prefer fixed rate over variable rate.
I prefer flexibility on my stable coins instead of locking them in a set time period.
I like to get the highest Yield and pay the less fees as possible.
If I use a centralized service like block-fi then will block-fi lend my deposit/balance out and if the borrower of my deposit/balancer defaults then will I lose all my money and block-fi will be liable for this loss?
For decentralized services, does this mean I have control of my private keys over my stable coins when lending them out? Also which Protocol in De-Fi is the most Audited and least risky? Are all De-Fi protocols have open-source code?
What is 'Loss of Principal' and 'Rug Pull' means?
If I lend GUSD on its own official Gemini Earn website then is my GUSD protected from any counterparty risks and borrowers defaults?
So in summary for centralized services there's counterparty risks and for decentralized services there's de-fi protocol risk correct? After weighing both which one you recommend I choose?
From all these questions answered what's the best centralized and decentralized sites out there?
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According to this link Tether has been fined $41million last week for lying : https://www.bloomberg.com/news/articles/2021-10-15/tether-bitfinex-to-pay-fines-totaling-42-5-million-cftc-saysAll those posts in this thread that favoured USDT tether, what is your stance on tether now? Can tether print $41 million out of thin air to pay the fine? We understand the courts and judges in the legal system are greedy and just want more money via from fines and don't give a f*** about the overall stability of the crypto market  That's the SEC and FATF job to take care of the crypto market. Paying this fine ends the tether FUD? or the SEC or FATF can open up their own case against tether in the future? |
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....
So I have to pay the gas fees again to re-do for failed transactions?
That would mean you have to send a different transaction with a new tx hash so YES you would need to pay a new tx fee for that. It's one of the headaches of on-chain transactions over Ethereum and even in BSC. But BSC is much cheaper and less congested right? I don't understand how the sender is liable to the miners for failed transactions when the sender wallet allows different fee set speed send services, like slow, medium or fast. If sender is liable for failed transaction fees according to the eth blockchain rules then sender should definitely not be liable for failed transactions sent on normal default or fast fees because how is it the sender's fault |
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Okay how do you prevent transactions from failing?
If im paying miners a fee for them to work to make transaction successful like you mentioned, then why transaction comes back as failed?
What do you mean no connection with the metamask wallet? All other eth wallets are fine except metamask for gas fee refunds?
If the fee you set and paid isn't recommended by the network then it will really be stuck. But if you paid the recommended fee then there's a sudden surge to the fee set by the miners then it'll be delayed. If you track your transaction there's an estimated time of confirmation of it. The fees for ERC20 tokens really suck and too much and that's why before you send any token, think of it if it's worth it for you to pay their recommended fee. Is there a difference between stuck and failed transactions? Fail transactions means your tokens are not sent but you still have to pay gas fee for the failed transaction? Stuck means it has been sent, stuck somewhere on the ethereum chain but eventually will get to the receiver but at a long time? That's right. Stuck is just delayed transaction. While the failed transaction, you have to re-do the process because your transaction has never been processed and never gone through. So how's your transaction doing? If you pay for the not recommended fee then you're likely to get both, it really depends to the network and how much the miners fee are. So I have to pay the gas fees again to re-do for failed transactions? |
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There was a free airdrop of gunthy tokens recently you mean? You already received your airdrop when I connected your license. That's the 1000 Gunthy that you have. CryptoDroi said that if you have " extra gunthy tokens" and I assume you do not, then it's just your 1000 gunthy. You got two choices. - Sell your Tokens - (1000 gunthy tokens)
- Sell your license
If you choose to sell your tokens, the license is still yours; in this case, the connection between the Gunbot license and your wallet is still there, and whenever you have the time to use Gunbot again, you can re-buy the 1000 tokens, and your license will work again. If you are going to sell your license, it should be transferred to the new wallet (wallet of the new owner). No more connection with the old wallet, and you need to purchase a new license to get Gunbot again. Okay with my 1000 gunthy tokens what license do I have? Can I do both that is sell both tokens and license? How do I transfer my license to the new owner's wallet? I like gunbot however it requires too much expensive resources at my end to run it and my time to keep updating it with the latest version and patches. Such as getting a fast VPS to run the gunbot program that can cost $$ to subscribe monthly to it. Will there be a easy cloud based version or web interface version of gunbot where the user don't need to worry about installing/updating it many times and also don't need to worry about extra paid resources like VPS? |
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What's the latest with the Taproot Update?
Nothing. The soft fork took place and Taproot was locked in, so nothing about it can change without another soft fork. I think this is more important than the bitcoin 'futures' ETF This will Drive the price of BTC higher than the futures ETFThere are two different subjects here. Taproot is definitely more important than a country accepting an arbitrary ETF but price-wise we can't really speculate that much about what affects the price in short term. Not to mention that these things always act as a catalyst to the ongoing rise not the driving force. Is it still on for next month November?
Yes. As I said the block height where Taproot activates can not change without another soft fork since it is now part of the consensus rules. FYI it is block 709632Okay I keep hearing that this new taproot updates adds smart contract ability for bitcoin. Is this true? |
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Okay how do you prevent transactions from failing?
If im paying miners a fee for them to work to make transaction successful like you mentioned, then why transaction comes back as failed?
What do you mean no connection with the metamask wallet? All other eth wallets are fine except metamask for gas fee refunds?
If the fee you set and paid isn't recommended by the network then it will really be stuck. But if you paid the recommended fee then there's a sudden surge to the fee set by the miners then it'll be delayed. If you track your transaction there's an estimated time of confirmation of it. The fees for ERC20 tokens really suck and too much and that's why before you send any token, think of it if it's worth it for you to pay their recommended fee. Is there a difference between stuck and failed transactions? Fail transactions means your tokens are not sent but you still have to pay gas fee for the failed transaction? Stuck means it has been sent, stuck somewhere on the ethereum chain but eventually will get to the receiver but at a long time? |
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Any other settings that I can change to optimise metamask at cheapest fees? I doubt. But there is a way of adjusting the fee right before the broadcast, the transaction +1. Most of the functions on the settings of Metamask are only display settings of the extension except on the Network part which you can add other chains. Settings for transaction fees on the Settings page is impossible as for sure they built it to be reusable to other chains too. Adjusting before broadcasting is always the way to change it and I believe it is not difficult to do before doing transaction. I heard that sending a erc-20 token on metamask on default fee speed service or higher fee priority faster speed service, can result in failed transactions because metamask is not really a ethereum wallet but a web3 interface instead. So sender doesn't get gas fee refunded for failed transactions. Is this true? Heard it from shiba inu reddit where thousands of users there use metamask for the new shiba inu NFT's but couldn't get them yet still have to pay gas fees for failed transactions
- What is Use Blockies Identicon? They are security graphical representations of an Ethereum address. They help a user to easily identify a specific address they're maybe willing to make transactions. - Show Conversion on Testnets? To show the fiat currency amounts of the coins in testnets - Use Token Detection? This feature helps to automatically detect and show tickers of newly added tokens into the metamask wallet, minus having to do it manually. Any other settings that I can change to optimise metamask at cheapest fees? I doubt. But there is a way of adjusting the fee right before the broadcast, the transaction Lastly I added Polygon to MetaMask, what next? How do I use the Polygon network for cheaper fees when sending/receiving ERC-20 tokens?
You can't send erc20 tokens through polygon network. You first have to convert them to tokens supported in the polygon network to be able to enjoy less fees Any erc20 token can be converted to the polygon chain? If there is a risk of lets say for example polygon network being hacked then I risk losing all my erc20 tokens that I converted and held on the polygon chain? To convert polygon token back into erc20 tokens again is it expensive? Which CEX centralised services and centralised exchanges support the polygon chain for deposits? If i send a polygon chain token to a Ethereum address then i will forever lose my tokens? So metamask is designed for decentralized exchanges that support polygon chain? How long the token chain conversion usually takes?
Bump any advice? [moderator's note: consecutive posts merged] |
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Hi,
Metamask settings:
- What is Use Blockies Identicon?
- Show Conversion on Testnets?
- Use Token Detection?
Any other settings that I can change to optimise metamask at cheapest fees?
Lastly I added Polygon to MetaMask, what next? How do I use the Polygon network for cheaper fees when sending/receiving ERC-20 tokens?
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Okay how do you prevent transactions from failing?
It's different from before, on EIP-1599 you need to follow the base fee and monitor the previous block if it was filled or not and the most safest way from my opinion use Mew where you can choose highest gas fee so your transaction won't fail beside that try to make an transaction on UTC Midnight time, The fee will much lower on that time. What do you mean no connection with the metamask wallet? All other eth wallets are fine except metamask for gas fee refunds?
I have an problem with metamask too for sending eth transaction lately but metamask are just supposed to become an web3 interface to interact with ethereum network. Do you mean EIP-1559? UTC Midnight time is the best time for cheapest fees? So metamask is not a proper Ethereum wallet and instead just a web3 interface for Eth?
I bet the average trader trading ERC-20 cryptos, not day trader everyday, but just average portfolio try to buy low sell high must have spent $1000s in Gwei gas fees in this bull market alone It is shocking. If Ethereum goes up in price then fees will be much higher Isn't Ethereum suppose to have 16 decimal places that is 0.0000000000000001 (the lowest amount of eth) so why miners charging so much? Is it the mining computation or congestion causing high fees? [moderator's note: consecutive posts merged] |
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Hi,
Coming back here if a transaction has failed do you still have to pay Gas fees even though you chose the default speed fee option or even a faster speed fee paid for service?
Of course, you have to pay fee even transaction will failed somehow because the fee will go for miners who's working to success this transaction. If you will make transaction from metamask and if failed, here you never get refund your gas fee because fee will receive miners, there are no connection with metamask. Okay how do you prevent transactions from failing? If im paying miners a fee for them to work to make transaction successful like you mentioned, then why transaction comes back as failed? What do you mean no connection with the metamask wallet? All other eth wallets are fine except metamask for gas fee refunds? |
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What's the latest with the Taproot Update?
I think this is more important than the bitcoin 'futures' ETF
This will Drive the price of BTC higher than the futures ETF
Is it still on for next month November?
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I remember him asking me to connect to his wallet. He has an existing license way before the gunthy licensing.
His license is "Standard" not "promoStandard". That's why he has 1000 tokens. I'm not sure if it should be 2500 for his type of license to become "Ultimate" unless it will be "promoUltimate".
Hi yes I like to kindly request you to look into this please. Thank you.
Discounted licenses have reduced token requirements.
Gunthy Tokens airdropped with existent Licenes:
Gunbot Standard 500 Gunthy tokens
Gunbot Pro 750 Gunthy tokens
Gunbot Ultimate 1250 Gunthy tokens
So, if you say you have a Standard license, I would assume you hold 500 tokens in your registered wallet.
If you got 1000 extra Gunthy tokens somewhere and added them to your registered Gunthy wallet, your license will automatically upgrade to Ultimate.
You still will have 250 extra gunthies that you can leave in your registered wallet for added value.
In any case, my recommendation was to add more tokens to your registered wallet to upgrade your license, hence adding more value .vs selling the gunthy tokens at the exchange
There was a free airdrop of gunthy tokens recently you mean? If I sell then will I still own those 250 extra gunthies in my registered wallet or the new owner owns them after I sell? You mean I get more money by selling the license than selling the tokens? [moderator's note: consecutive posts merged] |
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By registered I mean, the same you use for your standard license.
Say you have 500 tokens on the wallet that validates your standard license. If you add 1000 tokens to that license, your standard bot will automatically upgrade to Ultimate cause to run an ultimate Gunbot, you need 1250 gunthy tokens.
I just have a 1000 gunthy tokens in MEW and was told by forum member crwth that 1000 is equivalent to a Standard license. What is your advice? |
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Hi how do I sell my Standard License and 1000 tokens?
So there's 2 parts of it for 2 sales?
You can sell your standard in the second-hand market and the tokens separate on gunthy exchange or beaxy. But if you add the gunthy tokens to your registered wallet, you can turn that standard into Ultimate automatically and maybe sell it for more. Just my opinion. I have the 1000 tokens in my MEW MyEtherWallet. Is this a registered wallet? |
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Hi how do I sell my Standard License and 1000 tokens?
So there's 2 parts of it for 2 sales?
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All altcoins have 0.00000000 8 decimal places? If so why 8 decimal places? The $1 dollar has only 2 decimal places. $0.01 cent
Actually ETH has 16 decimal places, which IMO is waaay overkill. So a lot of Ethereum tokens also have 16 decimal places, also for no good reason. 8 decimal places is standard among most other coins simply because that's what Bitcoin did. A lot of developers - the ones launching tokens with a quadrillion supply - are simply too lazy to change the code to reduce the unnecessary decimal places. It's just laziness, really, is the answer to your question. Ethereum has a infinite supply so why the need for 16 decimal places ? Changing the decimal place coding is just changing 1 line of code right? If you say developers are lazy then developers must be copy and paste crypto codes from other cryptos/blockchains, slapping on a new logo, if they are too lazy to change 1 line of code indicating the crypto project must be a scam then.
If Bitcoin is not destined to be a currency but an Asset like a car, house, store of wealth, Gold 2.0 then why its divisible into 8 decimal places and instead be just 1 unit 1 btc? I don't understand In the first place, Bitcoin was not invented to become an asset. The whitepaper's title sums it all up. Satoshi Nakamoto invented "Bitcoin: A Peer-to-Peer Electronic Cash System." I believe it was not in the mind of Satoshi to create "Bitcoin: A Digital Asset" or "Bitcoin: Gold 2.0". So whatever happened to Bitcoin today, particularly its emergence more as a new asset class and less as a currency, is not Satoshi's preference. Satoshi wanted Bitcoin to be used as a means of payment not as an asset which is designed to be just kept hidden. Bitcoin has a total of 2.1 Quadrillion Sats and with the lightning network its more than enough to be the world reserve currency. Theres no 2.1 Quadrillion grams of gold, theres no 2.1 Quadrillion real estate homes, theres no 2.1 quadrillion cars. These are assets/commodities so it bitcoin wants to be a asset it needs to be undividable, remove the decimal system. You either have 1 bitcoin or you have no btc. Yes the people will cant afford to buy bitcoin at todays prices if that happen however an average person cant afford to buy a $40k ford mustang car so this person have to rent the car or finance the car with monthly payments. Is it possible to finance a purchase of 1 bitcoin nowadays if a person cant afford it? If none of the above is feasible then bitcoin should be a currency with its 8 decimal system where everything priced in Sats.
The meme coins developers/founders can introduce burning to make it deflationary you mean?
Or they change the decimal denomination like 0.00000000 to reduce it down to 5 decimal places or 6 decimal places or any number lower than 8 for example. 0.0000 is 4 decimal places. Does this make it deflationary?
All altcoins have 0.00000000 8 decimal places? If so why 8 decimal places? The $1 dollar has only 2 decimal places. $0.01 cent
Deflation is an effect (if it happens) and it's unpredictable, I mean it has to do with scalability. In the past, many token-based projects changed token contracts with new (smaller) supply and fractional units to match computational requirements or intentionally prepared them for larger scale requests. However, neither bitcoin nor crypto can become the world's reserve currency due to supply and price stability. Say a country as small as Singapore can also have a monopoly on bitcoin trading if it becomes the dominant holder. Moreover, Satoshi (which is considered the most BTC holder) can be considered a super country as much as it has the most foreign exchange reserves. El Savador country adopted bitcoin now and theres a total of 2.1 Quadrillion Sats in the year 2140 so El Salvador must be using a tiny % of this amount now so this 2.1 Quadrillion sats huge amount is more than enough for every country to fully adopt in the world unless the decimal system is reduced or taken away. What's the lowest decimal system possible where its feasible and sustainable for miners to get paid in btc too? [moderator's note: consecutive posts merged] |
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