Apostlekin$$$
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Activity: 238
Merit: 17
Sovryn - Brings DeFi to Bitcoin
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September 02, 2020, 11:31:20 AM |
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Ethereum 2.0 needs to be implemented right now for Ethereum to go higher, if gas fee keeps getting in the way it won't be easy for investors to get around Ethereum, many will exit for Tron and neo as better options available, this is insane.
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Apostlekin$$$
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Activity: 238
Merit: 17
Sovryn - Brings DeFi to Bitcoin
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September 02, 2020, 11:32:54 AM |
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I tried sending tokens worth 490$ and the transaction fee was 34$, tell me how will I proceed? I'd rather leave the token and stop making miners rich, only Ethereum miners are getting all the glory presently and that's why Eth mining is very profitable right now
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bittick
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September 02, 2020, 11:51:45 AM |
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Yeah Defi keeps dominating and the Uniswap made the transaction that is happening significantly higher in number. People should not expect the fee to experience significant decrease anytime soon because the main reason of fee increase which is uniswap still gaining momentum and probably the fee gonna increase several fold in the future. It is time for Ethereum to find its way solving the problem because this platform gonna have massive traffic in the future.
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Inkdull
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Activity: 238
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September 02, 2020, 11:52:30 AM |
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Just imagine if Ethereum reach 1000$ the gas fee will be unbearable, that's why I believe it's never going to happen unless the 2.0 upgrade is released right now, I wish Ethereum team have already saw this coming and speed things up with eth 2.0
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GatotKaca
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Activity: 1372
Merit: 250
Seabet.io | Crypto-Casino
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September 02, 2020, 12:03:30 PM |
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that's a problem for all ethereum network users, GAS that is unreasonable and too high many complain about all this, I saw that one of the exchangers was raising ethereum fees so many users have complained if this keeps happening then I'm sure will fewer ethereum users
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Francis Freeman
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September 02, 2020, 12:34:16 PM |
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Don't worry about gas price staying high forever. The eth price is high because of the bull market. It wi go down when the trading volume reduces.
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plr
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Activity: 1148
Merit: 24
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September 02, 2020, 12:44:01 PM |
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Despite it gain such adoption if this high price of transaction fees continues so many projects will abandon ETH. I want transfer token worth 200$ and gas fee was 35$, this is ridiculous. Currently , I prefer the trx network.
You are not the only one with this kind of issue it's the complaint of majority of traders and investors and investors are watching and waiting when things will go back to normal I'm using Doge and Banano Litecoin to trade to my local currency, I cannot even buy something online with my Ethereum, but I will never abandon Ethereum no way not at this point in time. |
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rahmathidayat93
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September 02, 2020, 12:44:27 PM |
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Just imagine if Ethereum reach 1000$ the gas fee will be unbearable, that's why I believe it's never going to happen unless the 2.0 upgrade is released right now, I wish Ethereum team have already saw this coming and speed things up with eth 2.0
It has already been imagined by everyone and you should also know that Ethereum tokens have reached prices above $ 1000 at the end of 2017 to early 2018, and the gas costs also tend to be stable and never even as high as they are today, so regarding the gas problem that high does not affect the price of a token, but on other things that we do not know for sure. |
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yazher
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September 02, 2020, 12:47:29 PM |
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This has happened before every time the ETH market is going well and unstoppable. The Gas fees have reached to some point that you will never think of using ETH again. I have experienced last 2018 when I sold some of my shit tokens and it cost the gas fee almost the price of my sold tokens. I mean, that was hilarious! right now, we are experiencing the same event but this will not last forever after the price will fall again. But we don't know if the price will decrease again and if the price will still increase then the Gas fees will reach its All-time high as well. isn't it?
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sarmrakib
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Activity: 1292
Merit: 101
Vave.com
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September 02, 2020, 12:55:41 PM |
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Despite it gain such adoption if this high price of transaction fees continues so many projects will abandon ETH. I want transfer token worth 200$ and gas fee was 35$, this is ridiculous. Currently , I prefer the trx network.
I also want to prefer the trx network .The way the gas fees increasing it is so tough to make any transaction .I did send 20$ yesterday and it cost 2.96$ gas fees it will so tough if the team don't work on it. |
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Princejebs
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Activity: 560
Merit: 26
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September 02, 2020, 01:54:42 PM |
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Don't worry about gas price staying high forever. The eth price is high because of the bull market. It wi go down when the trading volume reduces.
With the way things are going, the defi hype is real and i don't see the volume going down soon except something happens that may clamp down the price. It's all turn by turn and all happening in Uniswap exchange. Haven't you noticed recently that whenever yf1 surge, that's when ethereum gas fee use to increase, this is making many loose interest on ethereum adoption. |
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aprilnot
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September 02, 2020, 02:24:22 PM |
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Today's GAS is so crazy, I thought it would slowly go down but in fact it keeps going up. I wanted to send ethereum yesterday and was surprised to see what it costs to pay for GAS. ethereum is no longer crypto with low fees. you know 400 GAS per transaction is a high amount. when ethereum was at its highest, GAS price did not reach more than 400. but at this very strange time.
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masterrex
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September 02, 2020, 02:25:47 PM |
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IMHO, This monstrous transaction fees increases have negative effects on the Ethereum network, because many users and projects were already affected by these sudden rises of TX fees let Ethereum know that they are not only the sole smart-contract provider some are already considering TRX, Credits and many more so If this greed will not stop I believe Ethereum will lose some of its users including some projects that using its ERC20 tokens.
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Romanianz
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September 02, 2020, 02:40:25 PM |
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let's wait until Ethereum 2.0 are ready then, hope they will improve their high gas issue and everything  |
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budi691
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September 02, 2020, 02:53:00 PM |
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when going to sell a coin which is worth $ 35 and costs $ 35 dollars too so what i got,
keep for longer the coins I'm going to sell in the hope that GAS costs will come back down, maybe that's what I can do.
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ibuddy122505
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September 02, 2020, 02:58:13 PM |
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let's wait until Ethereum 2.0 are ready then, hope they will improve their high gas issue and everything This is nothing to do but just waiting. Traders and investors both are affecting the hing gas fees. I'm also waiting for the launch of the Ethereum 2.0 to eliminate or drastically reduce and finally may stabilize the gas cost. Hopefully, this idea solve the problem of gas fees. |
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bobyhodob
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September 02, 2020, 03:12:54 PM |
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let's wait until Ethereum 2.0 are ready then, hope they will improve their high gas issue and everything When you see that the transaction costs or gas that is usually used to deliver ethereum are too large then it is very reasonable because ethereum has high prices and ethereum also has high demand so it will make shipping costs go up, if you want to make gas costs go down then ethereum prices must can be cheap means ethereum prices should not be expensive. |
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cepot9
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Merit: 102
Cryptocurrency addict | Invest at your own risk.
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September 02, 2020, 04:26:44 PM |
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This has advantages and disadvantages, with that of course Ethereum slowly rises and is very profitable for those who hold Ethereum but the shipping costs will be more expensive and this can make several sectors affected. Like exchanges that have to always adjust their Ethereum withdrawal fees, bounty managers who have to postpone distribution and also bounty hunters who can't sell tokens or don't get tokens of their work on schedule.
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taufik0911
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Activity: 1274
Merit: 104
HEX: Longer pays better
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September 02, 2020, 05:10:14 PM |
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This has advantages and disadvantages, with that of course Ethereum slowly rises and is very profitable for those who hold Ethereum but the shipping costs will be more expensive and this can make several sectors affected. Like exchanges that have to always adjust their Ethereum withdrawal fees, bounty managers who have to postpone distribution and also bounty hunters who can't sell tokens or don't get tokens of their work on schedule.
This has a very big effect on transactions, usually I use ETH to make withdrawals to local exchangers from outside exchangers but now I think twice because the costs are arguably expensive and also the transaction speed is slow as you say it seems that slowly ETH will be like bitcoin where the transaction fee will be even and the transaction speed has decreased drastically I think it's vital to tackle this immediately because almost 80% (in my opinion) altcoins are on ETH or ethereum blockchains |
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proscratcher
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Merit: 0
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September 02, 2020, 05:22:28 PM
Last edit: September 03, 2020, 10:46:54 AM by proscratcher |
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Transaction fee has been increased because the number of tx in ETH blockchain has been increased which barely have anything to do with the price. Apart from that, ETH supply isn't limited which over the time will create deflation. I don't think we will see ETH $1000 anymore.
Do you think 1ETH will worth more than $500 at any time in 2021? Just curious. |
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