[ANN] Ethereum: Welcome to the Beginning

[JollyGood]

I think this issue will drag on for a long time. Why was there such a rush to get the testnet out there? I think this has set back the whole project by at least 6 months and all because they released a testnet version that was rushed out instead of thought through.

Nvidia has just released new 50% more effective video cards series 3000. Amd is expected to answer with cheaper cards at the end of October.  Both companies are very interested in Ethereum mining profits, so may be a big pump is coming in the next months? POS is not needed now - Defi is working well and there are too many problems to be solved before the transition to full POS is done. It is at least 1.5 year away, if everything is going well and phase 0 (which is a hybrid POS and POW) starts in 2021. This is not highly probable, so we may expect more delays - 2-3 years may be.
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[tyz]

I sent ER20 token this morning. I thought $2,5 of transaction fees are enough but it seems it wasn't. The transaction has been pending since five hours now. Is there any way to speed up the confirmation for example by sending further tx fee (I sometimes use this in Bitcoin when a transaction is stuck)?

[tbct_mt2]

I sent ER20 token this morning. I thought $2,5 of transaction fees are enough but it seems it wasn't. The transaction has been pending since five hours now. Is there any way to speed up the confirmation for example by sending further tx fee (I sometimes use this in Bitcoin when a transaction is stuck)?

You can check gas fee at https://ethgasstation.info/calculatorTxV.php or https://etherscan.io/gastracker. Both sites give the average fee around 190 Gwei. What did you do with your ERC20 token transaction this morning? Which Gwei did you use?

If your transaction is rejected, you can visit 2 sites and set up your Gwei for your new transaction.

[JollyGood]

I hope the developers look at how much they messed up with the way they have handled the whole gas issue - this needs to be ironed out before the release of the 2.0 update

I sent ER20 token this morning. I thought $2,5 of transaction fees are enough but it seems it wasn't. The transaction has been pending since five hours now. Is there any way to speed up the confirmation for example by sending further tx fee (I sometimes use this in Bitcoin when a transaction is stuck)?

[tbct_mt2]

News update for ETH 2.0

Testnet will be launched on 29 September and it is a good progress to the official ETH 2.0. More intensive progress towards ETH 2.0 as I see from the eth2 quick update no. 17.

Spadina Launchpad is live. Spadina genesis in 7 days!
Deposit CLI audit completed by Trail of Bits
EIP 2982: Serenity Phase 0 released

Source: https://blog.ethereum.org/2020/09/22/eth2-quick-update-no-17/

[Sy]

I sent ER20 token this morning. I thought $2,5 of transaction fees are enough but it seems it wasn't. The transaction has been pending since five hours now. Is there any way to speed up the confirmation for example by sending further tx fee (I sometimes use this in Bitcoin when a transaction is stuck)?

If you are using metamask there's an easy way to fix that just go-to activity and click speed up or cancel the transaction but, if you sent it using a normal wallet then you need to resend the transaction with the same nonce with but with a higher gas fee.

[JollyGood]

I would not be surprised if the date for the launch of the testnet was postponed.

News update for ETH 2.0

Testnet will be launched on 29 September and it is a good progress to the official ETH 2.0. More intensive progress towards ETH 2.0 as I see from the eth2 quick update no. 17.

[tyz]

I sent ER20 token this morning. I thought $2,5 of transaction fees are enough but it seems it wasn't. The transaction has been pending since five hours now. Is there any way to speed up the confirmation for example by sending further tx fee (I sometimes use this in Bitcoin when a transaction is stuck)?

If you are using metamask there's an easy way to fix that just go-to activity and click speed up or cancel the transaction but, if you sent it using a normal wallet then you need to resend the transaction with the same nonce with but with a higher gas fee.

I used my Ledger Nano wallet. In the meanwhile (after almost seven hours) the transaction was rejected and marked as failed. So I can spend my tokens again, but if this happens again in the future, is there also a method to speed up transactions which were sent with Ledger Nano wallet?

[TeraBite]

I would not be surprised if the date for the launch of the testnet was postponed.

News update for ETH 2.0

Testnet will be launched on 29 September and it is a good progress to the official ETH 2.0. More intensive progress towards ETH 2.0 as I see from the eth2 quick update no. 17.

Agreed with you now it is normal thing in ETH if they decide to make it postpone due to instability or new bugs have been found there. But this time they are looking more confident than before so let's see how it will goes through.

[gembira]

I would not be surprised if the date for the launch of the testnet was postponed.

News update for ETH 2.0

Testnet will be launched on 29 September and it is a good progress to the official ETH 2.0. More intensive progress towards ETH 2.0 as I see from the eth2 quick update no. 17.

Yes, it was postponed so mane times. but this TX fees become crazy nowdays. Especially on Uniswap exchange. they must launch 2.0 as soon as possible

[JollyGood]

If they launch 2.0 full of bugs then ETH will be destroyed, better they launch the testnet only when it is ready and then let developers and users discover bugs so they can be fixed before the launch of the mainnet.

Yes, it was postponed so mane times. but this TX fees become crazy nowdays. Especially on Uniswap exchange. they must launch 2.0 as soon as possible

[Sy]

I sent ER20 token this morning. I thought $2,5 of transaction fees are enough but it seems it wasn't. The transaction has been pending since five hours now. Is there any way to speed up the confirmation for example by sending further tx fee (I sometimes use this in Bitcoin when a transaction is stuck)?

If you are using metamask there's an easy way to fix that just go-to activity and click speed up or cancel the transaction but, if you sent it using a normal wallet then you need to resend the transaction with the same nonce with but with a higher gas fee.

I used my Ledger Nano wallet. In the meanwhile (after almost seven hours) the transaction was rejected and marked as failed. So I can spend my tokens again, but if this happens again in the future, is there also a method to speed up transactions which were sent with Ledger Nano wallet?

Check the article link below it should help you in the future if you ever get stuck with a pending transaction you could either cancel it or speed it up.

https://kb.myetherwallet.com/en/transactions/checking-or-replacing-a-tx-after-sending/

[tbct_mt2]

[GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)

Transaction fee dropped to 53 Gwei hours ago but now it is at 73 Gwei for average transaction type. https://ethgasstation.info/calculatorTxV.php.

The guide of Ratimov can help to cancel or replace your transactions (ETH or ERC20 tokens).

[zasad@]

An interesting compilation of what some people think about the launch of Ethereum 2.0.
There really is a big problem, if the protocol is attacked, then it will be necessary to make a hard fork

Cointelegraph(C)

https://twitter.com/Cointelegraph/status/1309118275381493761
"CZ is bullish on DeFi and plans for Binance to innovate but remains skeptical about the launch of Ethereum 2.0"

dannyryan(C)

https://twitter.com/dannyryan/status/1308774884969869313
"I suppose first of all is that I personally don't expect Phase 0 participation to be for everybody.

Staking comes with many risks and staking early in eth2 comes with even more than if you jumped in a couple of years down the line"


Chase Wright (C)
https://twitter.com/mysticryuujin/status/1308573304484245504

"1/ Why I won't be staking ETH at launch, a thread...

#Ethereum #eth2

Like many of you, I am excited for ETH2, the Beacon Chain, Phase 0, and everything that will come after.

I have participated in Onyx, Witti, Altona, and Medalla test networks.

I tried Prysm and Lighthouse."

[Sy]

Gas fees are down a lot from its peak of 800 so what do guys think are the chances of gas fees going below 20 before the launch of ETH 2.0?

Gas fee ate up lots of my ETH for the past few months though I made some of it back my mining ETH.

[izmirli35x]

I hope things will be alright as soon as possible.

[JollyGood]

Things will get better, they have to otherwise using ETH becomes pointless on excessive transaction fees.

I hope things will be alright as soon as possible.

[seven.71]

Gas fees are down a lot from its peak of 800 so what do guys think are the chances of gas fees going below 20 before the launch of ETH 2.0?

Gas fee ate up lots of my ETH for the past few months though I made some of it back my mining ETH.

the impact that will occur is that the transaction fee will decrease is that Pool providers will decrease their income, not only that some DEFI will dive to the bottom on the other hand as ETH users I feel happy because of this

[tbct_mt2]

With falls of DeFi tokens in their price, the greed and FOMO on DeFi projects are decreasing. Less people want to invest in new DeFi projects and they don't try to spend capital to invest and don't accept too high fees, consequently.

Together, the fee of transactions on ETH network has fallen and in last several days, fee is good. Now it is standing at 47 Gwei (for Average speed). If nothing suddenly changes with DeFi trend I believe fee can keep falling back to 21 Gwei range.

https://ethgasstation.info/calculatorTxV.php

[Sy]

With falls of DeFi tokens in their price, the greed and FOMO on DeFi projects are decreasing. Less people want to invest in new DeFi projects and they don't try to spend capital to invest and don't accept too high fees, consequently.

Together, the fee of transactions on ETH network has fallen and in last several days, fee is good. Now it is standing at 47 Gwei (for Average speed). If nothing suddenly changes with DeFi trend I believe fee can keep falling back to 21 Gwei range.

https://ethgasstation.info/calculatorTxV.php

Agree, but with the state of chain we are in(scalability wise), we are just one good airdrop or hyped ICO away from getting a huge surge on gas fees. Unless the ETH team does something about it, my only hope is ETH 2.0 which is still really far away.