Ethereum Fees

[TopT3ns]

now Ethereum's GAS has dropped to 138 Gwei, this is good because it's not as expensive as yesterday, I'm sure it will drop again below 100 Gwei,
Everyone expected that, unfortunately when altcoin down Ethereum Gas also down too

I think the fall in fees or gas needed to make transactions on Ethereum is due to the effect of the collapsing bitcoin price and causing Ethereum prices to fall so that gas costs are cheap, I think the conclusion is that ethereum prices must be cheap to be able to make the gas needed not too expensive.

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[Neoterix]

If I remember correctly Vitalik said somewhere that Ethereum is not to be used for daily payments, this is why I think the fees are so high because is meant to be something else.

[danherbias07]

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?

Now that value of ETH is declining so is value of transaction fees declining.  It could go back under $1 soon. But big question is, if $1 transaction fees are not to high. You cant make micro payments with that. You can barely afford normal payments at that level.

Holy crap.
I just saw that now. Thanks for the update.
$100 down already. Yes, this might make the fees cheaper again since we like converting it always to USD before making any transactions. 

What could be the reason behind this recent dump?   

[Dewi89]

I think the fall in fees or gas needed to make transactions on Ethereum is due to the effect of the collapsing bitcoin price and causing Ethereum prices to fall so that gas costs are cheap, I think the conclusion is that ethereum prices must be cheap to be able to make the gas needed not too expensive.

The decline in the market today has had a good impact on gas fees that have also decreased, maybe hundreds of thousands of low fee transactions have been confirmed, for small traders this fee is still high and still uses other altcoins as an alternative to cheaper transactions with faster transaction durations.

[pilosopotasyo]

DEFI projects are overburdening the ethereum network, transaction costs have increased a lot in the last 2 months and they could add up even further. I find it crazy to spend $ 30 on a trade regardless of the volume, so it's not fair for small traders.

Not really fair, I'm still checking from time to time when will the fees go back to normal, because of the DeFi projects the scalability issue of Ethereum has been exposed, and we'll have to wait sometime before things go back to normal right now traders are turning to Tron as a good alternative to Ethereum, many altcoins will shine because of this issues.

[bussybuddy]

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

I just had to pay around $48 to transfer $8 worth of ETH. The developer team really need to do something about it because it's getting out of hand now. I just hope they will release some update before the launch of ETH 2.0

How can it happen? The current Gwei is only 112 and it is worth around $ 0.89. Now the gas has dropped a lot and you can move it easily, and I also hope the ETH team can do something so that this situation will never happen again, otherwise I believe that in the future many other altcoins will be able to overcome them.

[amonymous]

I don't know when ETH fees can drop again, but if the current situation persists and many people are still interested in Defi projects then I believe ETH fees will go up $ 10 or even high more like that next time

When goes down eth price then gas fees reduce. Really 5$, $10 not small gas fees for a beginner trader or investors. Yes definitely right hype now and many investors want invest in defi project without analysis lol. Without research for a crazy investors thinking.

[qwizzie]

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

I just had to pay around $48 to transfer $8 worth of ETH. The developer team really need to do something about it because it's getting out of hand now. I just hope they will release some update before the launch of ETH 2.0

How can it happen? The current Gwei is only 112 and it is worth around $ 0.89. Now the gas has dropped a lot and you can move it easily, and I also hope the ETH team can do something so that this situation will never happen again, otherwise I believe that in the future many other altcoins will be able to overcome them.

There are additional fees for DeFi projects. Those fees can run up to $100.

https://cointelegraph.com/news/using-a-defi-protocol-now-costs-more-than-50-as-ethereum-fees-skyrocket
https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth

While the average Ethereum transaction fee is more than the daily income in many countries, the additional smart contract executions needed to engage with DeFi protocols
has seen users report fees of up to $100.

People are getting stuck in DeFi projects. That is what you get when a lot of token projects rely on one single blockchain, you create a single point of failure. Which in this case are the fees.
Link : https://coinmarketcap.com/tokens/

[abel1337]

I don't know when ETH fees can drop again, but if the current situation persists and many people are still interested in Defi projects then I believe ETH fees will go up $ 10 or even high more like that next time

When goes down eth price then gas fees reduce. Really 5$, $10 not small gas fees for a beginner trader or investors. Yes definitely right hype now and many investors want invest in defi project without analysis lol. Without research for a crazy investors thinking.

This kind of eth gas prices happened before and it will settle down for sure, I don't have any transactions now so I don't know what is the price of gas but I think it's really high due to the hype of this deFi projects that lead to network congestion. I am hoping that eth 2.0 will be released sooner than it's expected deadline.

[bitmover]

It is interesting to see this, because it makes people realize that bitcoin isn't slow because it is old. Neither is ethereum fast because it is a high tech.

Bitcoin is slow because the network is congested, and ethereum is now congested and is slow now.

[Divinespark]

I don't know when ETH fees can drop again, but if the current situation persists and many people are still interested in Defi projects then I believe ETH fees will go up $ 10 or even high more like that next time

When goes down eth price then gas fees reduce. Really 5$, $10 not small gas fees for a beginner trader or investors. Yes definitely right hype now and many investors want invest in defi project without analysis lol. Without research for a crazy investors thinking.

This kind of eth gas prices happened before and it will settle down for sure, I don't have any transactions now so I don't know what is the price of gas but I think it's really high due to the hype of this deFi projects that lead to network congestion. I am hoping that eth 2.0 will be released sooner than it's expected deadline.

Hopefully there won't be any delay for the upcoming ETH 2.0 update, if they continue to postpone it then I believe many people will be disappointed with it and stop investing in ETH. Btw today Gas has dropped quite a bit and now we only need to pay 1 $ to be able to make transactions.

[forexandcryptoauditor]

Seems ETH has concentrated on the scalability of other platforms' development on blockchain but not considered huge transactions. With so many projects specifically Defi(due to hype), transactions are enormous such that it is not able to handle it resulting in high fees. This in turn, impacting the growth of these projects as well.
Hope the situation become normal soon.

[qwizzie]

I don't know when ETH fees can drop again, but if the current situation persists and many people are still interested in Defi projects then I believe ETH fees will go up $ 10 or even high more like that next time

When goes down eth price then gas fees reduce. Really 5$, $10 not small gas fees for a beginner trader or investors. Yes definitely right hype now and many investors want invest in defi project without analysis lol. Without research for a crazy investors thinking.

This kind of eth gas prices happened before and it will settle down for sure, I don't have any transactions now so I don't know what is the price of gas but I think it's really high due to the hype of this deFi projects that lead to network congestion. I am hoping that eth 2.0 will be released sooner than it's expected deadline.

Hopefully there won't be any delay for the upcoming ETH 2.0 update, if they continue to postpone it then I believe many people will be disappointed with it and stop investing in ETH. Btw today Gas has dropped quite a bit and now we only need to pay 1 $ to be able to make transactions.

and people will still be stuck in DefI projects that charge additional fees up to $100. These are separate fees.

https://cointelegraph.com/news/using-a-defi-protocol-now-costs-more-than-50-as-ethereum-fees-skyrocket
https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth

While the average Ethereum transaction fee is more than the daily income in many countries, the additional smart contract executions needed to engage with DeFi protocols
has seen users report fees of up to $100.

Basically you have the gas fee and you have fees for additional smart contract executions needed to engage with DeFi protocols. The last category fees are still very high ($50 to $100).
Don't get trapped in DeFi projects !!

[zasad@]

https://cryptofees.info/
Look at these statistics, this has never happened in the history of Ethereum.
Smart contracts consume a lot of commissions, and it is still impossible to solve this problem, and the launch of phase 2 of Ethereum will not be soon.

L2 solutions use very few projects, so Vitalik's recommendation will not help
https://twitter.com/VitalikButerin/status/1300707752335962113

[FontSeli]

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

As strange as it sounds, the amount of transaction fees is chosen by those who send transactions on the network, i.e. you and I and many other ordinary people. Each of us strives to make sure that his transaction is completed as soon as possible. When miners form blocks, they choose the transactions with the largest Commission amount (the cost of gas) and form blocks from them.

[BitTraderCute]

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

actually we this  while checking transaction on tx id. so high gas gwei will confirmed first by miner. i think it is not fair system for all user, system must use similarity in every transaction like other blockchain . many people complaining about this fee , even binance CEO also tweet about it if core developers didnt solved this problem in eth 2.0 it will be serious problem for eth.

[tippytoes]

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

actually we this  while checking transaction on tx id. so high gas gwei will confirmed first by miner. i think it is not fair system for all user, system must use similarity in every transaction like other blockchain . many people complaining about this fee , even binance CEO also tweet about it if core developers didnt solved this problem in eth 2.0 it will be serious problem for eth.

Let us all hope that ETH 2.0 will resolve some of the bottlenecks that ETH network is experiencing right now. Because if this will continue and will not be resolved, a lot of crypto users will find another network to use. But Buterin will not let this issue be forever, by now they are already finding ways how to address this problem. And hopefully, they will rectify this high gas fees problem.

[grizmoblust]

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

actually we this  while checking transaction on tx id. so high gas gwei will confirmed first by miner. i think it is not fair system for all user, system must use similarity in every transaction like other blockchain . many people complaining about this fee , even binance CEO also tweet about it if core developers didnt solved this problem in eth 2.0 it will be serious problem for eth.

Let us all hope that ETH 2.0 will resolve some of the bottlenecks that ETH network is experiencing right now. Because if this will continue and will not be resolved, a lot of crypto users will find another network to use. But Buterin will not let this issue be forever, by now they are already finding ways how to address this problem. And hopefully, they will rectify this high gas fees problem.

Currently the ETH network is very high and for sure, if you don't fix this, investors will no longer be interested in this coin. I was charged up to $ 30 and this is actually a very high fee compared to what is happening. Hopefully Ethereum 2.0 will put an end to this situation as 90% of projects are using the platform of ETH for development.

[el kaka22]

You do realize that you do not have to pay the full price right? Ethereum is not like bitcoin, if you pay a little, like amount you used to pay for example, you could still get it done. Sure it will take some time for it to reach wherever you sent it but if you do not have anything you need to rush for, you should be fine.

I personally still use exactly the same as I used for the past 6 months and I am still doing fine, you can pay like 20-30 cents and it would still pass. It just takes a bit longer and that is why it is not suggested, but it doesn't mean it doesn't come. Instead of having it like in 5 minutes, you have it for like 4-8 hours depending on what you pay, which is a lot of time on a regular shopping or whatever but if you are doing some exchange stuff or whatever, you can wait no problem.

[xOdiumNostrumx]

The fees are definitely insane right now, especially when sending ERC-20 tokens, but if you are not in a hurry, you can try to avoid the saturation peaks of the network. Make your transaction at non-prime times, early in the morning or late in the evening for example, that way you can save a buck or two pretty quickly.