GumboTrader (OP)
Newbie
Offline
Activity: 29
Merit: 3
CIBUS FOOD Ecosystem
|
|
February 17, 2018, 02:20:16 PM |
|
I successfully sent some cryptocurrency the other day. Then when I looked over my transaction, it had a gas amount or charge. What is this gas amount? I never heard of it and I don't even know what it is. Now is there anyway to avoid it or at the very least minimize it's amount? Please can someone give me some advice and steer me in the right direction!
|
█▐ CIBUS FOOD ECOSYSTEM ▐ █FOOD BLOCKCHAIN ▬▬▬▬ TOKEN SALE 28 FEB 2018 ▬▬▬▬ (https://cibus.world)
|
|
|
coinamu
|
|
February 17, 2018, 02:22:28 PM |
|
The gas amount is like transaction fee, You cant avoid it but you can reduce it. But if you reduce the gas fee for example from 41 gwei to 1 gwei your transaction will take very long time to be procced. The higher the gas fee the faster your transaction to be confirmed. Use metamask so you can control it by your self.
|
|
|
|
The Young Turk
Legendary
Offline
Activity: 1176
Merit: 1013
DAVID CHAUM's xx coin SALE IS NOW LIVE!
|
|
February 17, 2018, 02:23:15 PM |
|
It's a "fee" for some altcoins. For example in ETH you need to pay gas for transaction fee. You can change gwei amount to send with lower gas. Let me know if you talk about other altcoins gas so I can help you.
|
|
|
|
jondel
|
|
February 17, 2018, 02:35:03 PM |
|
I successfully sent some cryptocurrency the other day. Then when I looked over my transaction, it had a gas amount or charge. What is this gas amount? I never heard of it and I don't even know what it is. Now is there anyway to avoid it or at the very least minimize it's amount? Please can someone give me some advice and steer me in the right direction!
I assumed you are talking about ETH since you mention GAS. It's like a transaction fee. If you want fast transaction time, you give a higher GAS amount. If you set your GAS too low, your transaction will take longer time. You can avoid gas fee but you can minimize. To help calculate gas fee you can use https://ethgasstation.info for reference.
|
|
|
|
bakujo0817
Member
Offline
Activity: 313
Merit: 11
|
|
February 17, 2018, 02:40:16 PM |
|
you cannot avoid the gas because thats a fee for your transaction however you can control the gas fee to minimize your transaction fee the higher the gas fee the faster confirmation will be.
|
|
|
|
AllanMundy
Newbie
Offline
Activity: 1
Merit: 0
|
|
February 17, 2018, 02:43:35 PM |
|
Thanks for the info was wondering about this myself
|
|
|
|
The Young Turk
Legendary
Offline
Activity: 1176
Merit: 1013
DAVID CHAUM's xx coin SALE IS NOW LIVE!
|
|
February 17, 2018, 02:43:57 PM |
|
I assumed you are talking about ETH since you mention GAS. It doesn't need to be particularly ETH. NEO has GAS too. And it's literally "GAS", not gwei etc. https://coinmarketcap.com/currencies/gas/
|
|
|
|
joselitobayagbag
Member
Offline
Activity: 231
Merit: 10
Augmented Reality World Discovered
|
|
February 17, 2018, 02:47:07 PM |
|
Gas is the fee you needed to be able to proceed a transaction in ethereum and neo network,gas is acting literally as gas like the one we are using in our cars,the more gas you spent per transcation the faster the transaction will complete.
|
|
|
|
Aresion
Newbie
Offline
Activity: 32
Merit: 0
|
|
February 17, 2018, 03:09:55 PM |
|
Yes it just the transaction fee. On Ethereum blockchain is used for transactions of Ethereum and tokens that are on the same blockchain. For Ethereum blockchain you can change it in Etheredelta, Myetherwallet or Metamask. To know how much is enough to push your transaction through you can use eth gas station. Here is the link. https://ethgasstation.info/
|
|
|
|
Igorpap2
Member
Offline
Activity: 238
Merit: 10
BAANX - https://baanx.com
|
|
February 17, 2018, 03:14:08 PM |
|
I successfully sent some cryptocurrency the other day. Then when I looked over my transaction, it had a gas amount or charge. What is this gas amount? I never heard of it and I don't even know what it is. Now is there anyway to avoid it or at the very least minimize it's amount? Please can someone give me some advice and steer me in the right direction!
Consider the example of etherium : The etherium is a network, a block. Etherium (ETH) is the fuel for the network. When you pass the tokens, interact with the contract, send ETH or perform any actions in the blockroom, you must pay for these calculations. The payment is calculated in gas, and the gas is paid to ETH. * 21 000 - the gas limit for the standard transaction
|
|
|
|
jereh988
Newbie
Offline
Activity: 76
Merit: 0
|
|
February 17, 2018, 03:31:30 PM |
|
for gas normally i need 200k and this is for a high value altcoin. is this too high in my opinion? maybe be to very little?
|
|
|
|
EMV
Member
Offline
Activity: 183
Merit: 10
|
|
February 17, 2018, 03:33:03 PM |
|
I successfully sent some cryptocurrency the other day. Then when I looked over my transaction, it had a gas amount or charge. What is this gas amount? I never heard of it and I don't even know what it is. Now is there anyway to avoid it or at the very least minimize it's amount? Please can someone give me some advice and steer me in the right direction!
Gas is the internal prices of the Ethereum platform established for performance of transactions or the smart contract. At the time of writing before start of Frontier it is recorded on a mark in 10 Szabo that makes about 1/100 000 air (Ether). It is made to separate unit of air (ETH) and its market value from a unit of measure of use of computing power (gas). Thus, the mayner can decide to increase or reduce use of gas according to its purposes, avoiding a situation in which increase in market prices of Ethereum will result in need of the change in price for gas. It also is the response to discussion in bitcoin community of structure of the commissions. The gas system not strongly differs from use of the designation "kilowatt" for measurement of house electricity consumption. There is only one difference from the real market of the electric power. It is that the initiator of transaction himself establishes gas price with which the mayner can agree or not agree that he as a result leads to emergence of the market of the gas
|
|
|
|
|
captaincomet
|
|
February 17, 2018, 11:01:30 PM |
|
Gas is the transaction fee. This is how the crypto world works and so do the miners. In any case, you have to pay for the transaction
|
|
|
|
RACallanta
Member
Offline
Activity: 182
Merit: 11
|
|
February 17, 2018, 11:17:37 PM |
|
all any transactions has a fee. that gas you said, is like a transaction fee. some of wallet has a gas amount (actually all wallets) but that gas amount is not higher price to pay,so that this couldnt affect on your saving or it might be affect but not too much..
|
|
|
|
rurubot
Member
Offline
Activity: 171
Merit: 10
|
|
February 17, 2018, 11:30:34 PM |
|
If you want your transactions take a minimal time to finish, then increase the amount of gas than the typical suggested amount of it. But dont you worry about it. Its equivalent to eth is very small, say for 21000 units of gas at 20 GWEI = 0.00042 ETH.
|
(ಥ_ಥ) I AM STILL (ಥ_ಥ) (´・ω・`)LOOKING FOR( ˘•ω•˘ ) d(=^・ω・^=)b RIGHT BOUNTYd(=^・ω・^=)b
|
|
|
R21
|
|
February 17, 2018, 11:37:38 PM |
|
"Gas" is like transaction fee, it's settings by some altcoin's developers. if you want to transact some kinds of altcoin's then they are demand various kind of "gas". but I see if you want very lower amount of transaction then "gas" is same! it's fall me some uunpleasant situation.
|
|
|
|
VanDeinsberg12
|
|
February 17, 2018, 11:50:43 PM |
|
I successfully sent some cryptocurrency the other day. Then when I looked over my transaction, it had a gas amount or charge. What is this gas amount? I never heard of it and I don't even know what it is. Now is there anyway to avoid it or at the very least minimize it's amount? Please can someone give me some advice and steer me in the right direction!
It becomes your responsibility to pay gas amount if you are using ethereum network or something that related to the smartcontract system. it's the same if you are paying or sending anything with bitcoin and you must pay the transaction fees. but in gas has different system with bitcoin. Because you need to input gas price and amount the contract will try to execute based on your input.
|
.......[url]CHOOSE LIFE ♦ CHOOSE SPACE ♦ CHOOSE FRIENDS...........[URL].....► C O M I N G S O O N..... |
|
|
|
WNbahr
Newbie
Offline
Activity: 107
Merit: 0
|
|
February 18, 2018, 12:00:11 AM |
|
I think that some kind of minimum cost limit that must be met to be able to transact with certain coins or tokens, about the amount of gas required it varies depending on the token or crypto coins if not met then the amount of crypto money or tokens can not be melted. therefore it is obligatory to have more gas for the smooth disbursement of such funds. and you will only suck your thumb.
|
|
|
|
javerzky
Jr. Member
Offline
Activity: 159
Merit: 1
|
|
February 18, 2018, 02:42:09 AM Last edit: February 18, 2018, 02:53:24 AM by javerzky |
|
thanks for making this thread now i know what is gas is all about i had this same question and i am glad a found this thread and i can now understand what really gas is
|
▂▆●● SynchrotronCoin.org - Payment solution - Airdrops live NOW!●●▆▂
|
|
|
|