[ANN] Ethereum: Welcome to the Beginning

[Mr.Scott]

Does anybody knows why the gas fee are so high? Literally i'm feeling destroyed in my inner self, could not manage of making successful transactions. Continuously losing my ether balance after it's failing. Can eth 2.0 launch solve this issue?

[atjiat]

Does anybody knows why the gas fee are so high? Literally i'm feeling destroyed in my inner self, could not manage of making successful transactions. Continuously losing my ether balance after it's failing. Can eth 2.0 launch solve this issue?

On Twitter, Vitalik Buterin wrote a post commenting on the problem of high transaction costs that this problem primarily depends on scalability. But it should be said that the owners of the transactions are willing to pay and are already paying this price, and therefore the price rises.

[dishku]

Does anybody knows why the gas fee are so high? Literally i'm feeling destroyed in my inner self, could not manage of making successful transactions. Continuously losing my ether balance after it's failing. Can eth 2.0 launch solve this issue?

On Twitter, Vitalik Buterin wrote a post commenting on the problem of high transaction costs that this problem primarily depends on scalability. But it should be said that the owners of the transactions are willing to pay and are already paying this price, and therefore the price rises.

That's the big problem on Ethereum blockchain there is race to make the transactions get confirmed in very first block so majority of the people are doing this. Now the narrative of Vitalik has been changed dramatically before this he was against high transactions fees. Let's see what happen in future when they will launched ETH 2.0 but right now there are layer 2 platform are catching attention the community for providing the scaling solution.

[Sincere_]

I hope gas fee comes down when eth 2.0 is launched

I’m with you on this if Ethereum can get the fees down this will rocket just makes sense to I know it’s easier said than done but I hope 2.0 reflects this. I’m still a believer love me some eth but the gas sometimes is way high.’

[zasad@]

https://www.theblockcrypto.com/linked/76686/ethereum-miners-fee-revenue-all-time-high-september
Ethereum miners generated all-time high fee revenue of $17 million yesterday


"According to The Block Research, Ethereum miners generated all-time high fee revenue of $17 million on September 1.  The figure is 3.7 times higher than the previous highest amount recorded during December 2017 and January 2018 when crypto prices went through the roof."

[ivomm]

These gas fees are a blessing to us the miners. So, I don't mind at all that this gas frenzy continues for months. I even enjoy mining to HW address and then spending 5$ for each transaction to the exchange.  It is tens and hunreds times less than the daily profit Defi and tether, good job congesting eth blockchain!   The profits in the last month are miltiplied by 50 and now are higher even compared to 2017. I sold for BTC more than the half on the way up to 0.04 and I will continue to do so unless there is a crash below 0.025BTC.  I will never stake, any interest is hundreds times less than the profit from mining. The day eth turns into POS, it is dead for me and for many other miners with relatively small farms. For us eth was a mediator to start with 1 gpu and go into Bitcoin world and become a hodler.  This attracted millions around the world and they provided a secure blockchain with currently over 200Th/s. It's fork etc is constatly getting 51% attacks because of the low hasrate 3Th/s. I really doubt that the few rich eth hodlers will be enough with their POS stakes to sustain this level of security. Eth will become a coin for the rich and the hackers who will take advantage sooner or later from the smart contracts like DAO in 2016. Anyway, I wish a good luck to eth, it's been quite an exciting journey!

[SpanishSoldier]

https://www.theblockcrypto.com/linked/76686/ethereum-miners-fee-revenue-all-time-high-september
Ethereum miners generated all-time high fee revenue of $17 million yesterday

Is GPU mining possible in Ethereum anymore or specialized hardware is mandatory?

[ivomm]

https://www.theblockcrypto.com/linked/76686/ethereum-miners-fee-revenue-all-time-high-september
Ethereum miners generated all-time high fee revenue of $17 million yesterday

Is GPU mining possible in Ethereum anymore or specialized hardware is mandatory?

Yep, I have mixed rigs with rx cards, 390's and even older cards. It is possible as long the VRAM is at least 4 GB until Jan 2021. Then 6 and 8 GB cards only will be able to mine. As I said above, the profit in the last month is the highest I've ever had so far. I am talking about 3$ daily profit from a card and rising.

[JollyGood]

So much complaining about gas, people need to be relaxed. Let thing thing settle down a bit then see what happens, having stable low fees will definitely become regular and normal again.

[Bolopecah]

These gas fees are a blessing to us the miners. So, I don't mind at all that this gas frenzy continues for months. I even enjoy mining to HW address and then spending 5$ for each transaction to the exchange.  It is tens and hunreds times less than the daily profit Defi and tether, good job congesting eth blockchain!   The profits in the last month are miltiplied by 50 and now are higher even compared to 2017. I sold for BTC more than the half on the way up to 0.04 and I will continue to do so unless there is a crash below 0.025BTC.  I will never stake, any interest is hundreds times less than the profit from mining. The day eth turns into POS, it is dead for me and for many other miners with relatively small farms. For us eth was a mediator to start with 1 gpu and go into Bitcoin world and become a hodler.  This attracted millions around the world and they provided a secure blockchain with currently over 200Th/s. It's fork etc is constatly getting 51% attacks because of the low hasrate 3Th/s. I really doubt that the few rich eth hodlers will be enough with their POS stakes to sustain this level of security. Eth will become a coin for the rich and the hackers who will take advantage sooner or later from the smart contracts like DAO in 2016. Anyway, I wish a good luck to eth, it's been quite an exciting journey!

Maybe for miners this is a very good situation to make a profit not from mining, do you think what fate will be for those who found erc-20 based tokens? Transaction fees are excruciating for them, I hope they won't move to another base, which will make the eth network even quieter

[contraband]

So much complaining about gas, people need to be relaxed. Let thing thing settle down a bit then see what happens, having stable low fees will definitely become regular and normal again.

I agree 100%

Things will be fine. 

Gas high? Yes

Overreacting? Most definitely

[vapourminer]

Gas high? Yes

Overreacting? Most definitely

greed. what a drug

[Sy]

These gas fees are a blessing to us the miners. So, I don't mind at all that this gas frenzy continues for months. I even enjoy mining to HW address and then spending 5$ for each transaction to the exchange.  It is tens and hunreds times less than the daily profit Defi and tether, good job congesting eth blockchain!   The profits in the last month are miltiplied by 50 and now are higher even compared to 2017. I sold for BTC more than the half on the way up to 0.04 and I will continue to do so unless there is a crash below 0.025BTC.  I will never stake, any interest is hundreds times less than the profit from mining. The day eth turns into POS, it is dead for me and for many other miners with relatively small farms. For us eth was a mediator to start with 1 gpu and go into Bitcoin world and become a hodler.  This attracted millions around the world and they provided a secure blockchain with currently over 200Th/s. It's fork etc is constatly getting 51% attacks because of the low hasrate 3Th/s. I really doubt that the few rich eth hodlers will be enough with their POS stakes to sustain this level of security. Eth will become a coin for the rich and the hackers who will take advantage sooner or later from the smart contracts like DAO in 2016. Anyway, I wish a good luck to eth, it's been quite an exciting journey!

I am a miner too (small-scale) and, the last few days have been great for us but, I am a trader too and in that case, trust me it's not good when you have to pay $40 bucks for a transaction to go through lol.

[Crypt0Imp]

The tx fee is 0.05 ETH now, crazy

[tbct_mt2]

The fee is falling compares to two days ago: https://ethgasstation.info/calculatorTxV.php. Two days ago, the average fee is at 450 Gwei, not 372 Gwei as of writing today.

Unfortunately, I believe the fall will not last long because DeFi is still here and when market see rises of DeFi or ETH, fee will be increase again.
Some sites to check fee: https://etherscan.io/gastracker and https://ethgasstation.info/index.php

[Exadro]

There is still plenty of time to tackle this issue and find a way forward but is there enough drive within the ETH development team to do it?

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

now we can see that the cost of gas is getting higher and that will make dap exchange even less

I understand that and this is a problem for us traders on the Uniswap Exchange, if gas is big and make profit 3x is not a problem, but when we increase the gas with an effort to speed up the transaction and when it fails, then we will waste 0.06 more of our efforts.

[TeraBite]

There is still plenty of time to tackle this issue and find a way forward but is there enough drive within the ETH development team to do it?

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

now we can see that the cost of gas is getting higher and that will make dap exchange even less

I understand that and this is a problem for us traders on the Uniswap Exchange, if gas is big and make profit 3x is not a problem, but when we increase the gas with an effort to speed up the transaction and when it fails, then we will waste 0.06 more of our efforts.

It happening right now so many transactions getting failed due to network overload and all efforts becoming useless where nobody has control over it. This is very hot topic at the moment everyone talking about the gas price which is still increasing and we paying much higher fees for a normal transaction too.

[JollyGood]

I think with a little bit of time things will become more stable, until then people really need to stop complaining or simply sell up and move on.

So much complaining about gas, people need to be relaxed. Let thing thing settle down a bit then see what happens, having stable low fees will definitely become regular and normal again.

I agree 100%

Things will be fine. 

Gas high? Yes

Overreacting? Most definitely

[JollyGood]

What you wrote is incoherent, can you elaborate?

Recently, the revenue is only growing, this can not but please

[DU18]

A lot of people are still asking and waiting when actually ETH 2.0 will be launched ethereum, Because, in my opinion the plan has been a long time ago but until now there have been delays by ethereum.
Is ETH 2.0 just discourse to increase ethereum's sales or popularity or is it a real plan?
Maybe not only me who keeps asking questions but many ethereum lovers who might still be  waiting for the latest news about the continuation of the ETH 2.0 project