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Author Topic: What the hell is going on with the Etherium?  (Read 153 times)
cipherDoge
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July 05, 2018, 03:01:50 PM
 #1

Gas price is more than 70 gwei for several days. Anybody knows why?
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July 05, 2018, 03:03:50 PM
 #2

This is because a new exchange Fcoin has adopted a new list system.
Then charge each account with a certain amount of tokens, and when the number of accounts with tokens meets the requirements, you can get a free list.

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July 05, 2018, 03:05:49 PM
 #3

I think that this may be due to new integrations in ETH, because Vitalik Buterin recently said that they will try to do something similar, that the transitions will accelerate, but if this way, then this is absurd.
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July 05, 2018, 03:06:01 PM
 #4

The reason is the token listing criteria of a new Asian exchange fCoin which claims a trading volume of 15 Billion$ daily.

It requires you to vote from unique ETH accounts in a set timeframe and hence is driving the gas prices up.
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July 05, 2018, 03:07:50 PM
 #5

I also do not know why some days this gas fee increased sharply, just ane have a feeling that the increased gas is due to the market that again lethargic I think.

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July 05, 2018, 03:13:12 PM
 #6

This is because a new exchange Fcoin has adopted a new list system.
Then charge each account with a certain amount of tokens, and when the number of accounts with tokens meets the requirements, you can get a free list.
Thanks a lot
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July 05, 2018, 03:13:45 PM
 #7

Gas price is more than 70 gwei for several days. Anybody knows why?
I think there's a problem with the ethereum blockchain as of now, and even how much gwei you cost, your transaction will be delayed, I have a transaction yesterday, and as of now, it is still processing.
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July 05, 2018, 03:20:12 PM
 #8

This is because a new exchange Fcoin has adopted a new list system.
Then charge each account with a certain amount of tokens, and when the number of accounts with tokens meets the requirements, you can get a free list.
That really crazing, one transaction need 70 gwei/ more than $1, I still have pending transaction and wait for ethereum network stable again to complete my transaction, so I think ethereum dev need to fix this issue, if not ethereum how to become top1 cryptocurrency in the future ?

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July 05, 2018, 03:23:06 PM
 #9

Gas price is more than 70 gwei for several days. Anybody knows why?

Ive been transferring some tokens from mew to exchange and other wallets.
the gas i am having is the same as before.
i didn't see any problems.

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July 05, 2018, 03:27:09 PM
 #10

This is because a new exchange Fcoin has adopted a new list system.
Then charge each account with a certain amount of tokens, and when the number of accounts with tokens meets the requirements, you can get a free list.
That really crazing, one transaction need 70 gwei/ more than $1, I still have pending transaction and wait for ethereum network stable again to complete my transaction, so I think ethereum dev need to fix this issue, if not ethereum how to become top1 cryptocurrency in the future ?
It will be fixed soon because sharding development is on the way and i will be expecting it will be deployed at this year and remember POS will come at the same time as sharding. But there is another reason there is a lot of new contract has created and there was so many spam transaction that using very high gwei to spam the network

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cipherDoge
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July 05, 2018, 03:32:28 PM
 #11

Gas price is more than 70 gwei for several days. Anybody knows why?

Ive been transferring some tokens from mew to exchange and other wallets.
the gas i am having is the same as before.
i didn't see any problems.
Transfer function require just about 21000 gas. Problem will occur if you want to execute more gas wasting function, contact deploying for example. It can take more than million gas.
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July 05, 2018, 03:37:48 PM
 #12

Gas price is more than 70 gwei for several days. Anybody knows why?
Mostly some of the investor who buy and sell into there crypto coins would notice this unusual happen of processing fee or in MEW transaction have high gwei,and this situation now im also wondering,what is the means reason why those transaction have a high rates and not only happen to this in MEW transaction hash,its been also happen into different trading site's like bancor,etherdelta,hitbtc,and more,thats mostly there transaction rates would become constantly higher.

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July 05, 2018, 03:38:43 PM
 #13

The reason is the token listing criteria of a new Asian exchange fCoin which claims a trading volume of 15 Billion$ daily.

It requires you to vote from unique ETH accounts in a set timeframe and hence is driving the gas prices up.
For this reason, fCoin has risen rapidly in the short term and has used its unique mining model to attract a large number of users, and these users have made a lot of transactions in order to let their tokens listed on this exchange.
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July 05, 2018, 03:44:09 PM
 #14

Gas price is more than 70 gwei for several days. Anybody knows why?
Don't know fundamentals about what is going on with Ethereum and it's team with Vitalik Buterin, but it's a normal thing from a trader's point of view. Trend is changing, thanks God!
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July 05, 2018, 03:50:46 PM
 #15

Gas price is more than 70 gwei for several days. Anybody knows why?
i read a news about that there is too much new exchange that make ethereum so busy. But cleary i dont know . I suggest you all to not send your coins right now cause it might become a problem, i got my friend send their coin to exchange and now he should fill the report cause the transaction take too long and the coin not appear on his account but indeed the coin are sent on exchange.

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July 05, 2018, 03:58:28 PM
 #16

What's funny is, not along time ago, Vitalik Buterin said that fees in Bitcoin were "too high" past five cents:

Quote
“Right now, bitcoin transactions cost five cents [in USD], which is fine right now because Paypal fees are even stupider but the internet of money should not cost more than five cents per transaction. It is kind of absurd.”

Now delusional Vitalik is having to deal by himself with massive block sizes while trying to keep everyone happy with fast and cheap transactions. Let's see what he can do about it. So far ETH blocksize growing past 1TB...
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July 05, 2018, 04:03:28 PM
 #17

I think that this may be due to new integrations in ETH, because Vitalik Buterin recently said that they will try to do something similar, that the transitions will accelerate, but if this way, then this is absurd.
Absolutely op, This is not the way to accelerate transaction or anything. Just increase the fees by name of any type of upgradation.  Lips sealed
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July 05, 2018, 04:15:36 PM
 #18

Gas price is more than 70 gwei for several days. Anybody knows why?

Every cryptos fee is increasing day by day, if it's happen all the time. Crypto will never be the main payment of this world.
I hope one day there are a crypto who has low and stable fee and very fast transaction speed

 
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July 05, 2018, 06:11:24 PM
 #19

70 gwei holy moly, thats quite a great day for miners!
Also, it is a new high that I've experienced in transaction costs in gwei.

luckily, it decreased to 40 gwei with ~10min waiting time. But
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July 05, 2018, 06:50:57 PM
 #20

I did not pay attention at the cost of gas several last days. It is quite interesting information I will monitor it because it is possible that investors are coming into market and we will likely see a new uptrend soon although it is just my assumption.

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