Ethereum Fees

[restuibu]

of course the gas will return to normal if the Defi hype is over or a little calmer, but we don't know when that happens, now there's nothing we can do, if it only has a little value in the altcoins we want to sell we'd better have to wait a little longer

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[blckhawk]

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?

Perhaps it will back into normal just wait until ETH 2.0 release. Fees increases because the hype of DeFI and transaction tend to be congested, just for us to sort that out is to increase the gas. Increasing the gas would be just painful especially if you are a small trader. Probably the best solution is to hold that for the meantime or perhaps change to the other platform.

[kamadazje]

Once there are plenty of transactions that happened at the same time, this usually happened as I experienced it last peak of the market but it revert to normal after few days. So you don't have to worry because it will revert back to normal maybe few days from now. You can just use other currencies aside from Eth if the transaction fee of Eth is still that high. You can use EOS or other currencies that has a very small transaction fees also.

[Fredomago]

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?

Perhaps it will back into normal just wait until ETH 2.0 release. Fees increases because the hype of DeFI and transaction tend to be congested, just for us to sort that out is to increase the gas. Increasing the gas would be just painful especially if you are a small trader. Probably the best solution is to hold that for the meantime or perhaps change to the other platform.

It's affecting small traders and bounty hunters, with this such high fees most of us are avoiding the process of sending our coins.

It's annoying since  we are only transacting with small amount of assets but we need to pay more, the bad
side is when the token value dumped down, instead of having some good benefit, you'll lose all those opportunities
due to this high transaction fees.

[articlecity]

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?!

The high fee is due to congestion of the network, it is simply happening because the no of transactions are exceeding the capacity of the network that is why miners are charging more fee to validate the transactions first.
But i have seen that if you try to make transaction other than peak times, especially late night you will see less fee and fast confirmation.

[amonymous]

Same problem we was facing 2017 year. It's really high gas fees to me due to congestion of the network. In my opinion, it is a wall for small traders and bounty hunters to issue tokens with such high fees. I want transfer some token in exchange but it never possible because $5 no small amount for a poor trader.

[LazerPanther]

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

[soulripper]

The fees going too high because the overload transaction traffic that push the gas also high that why the price of fees are ridiculous high and might not even worth for small transaction currently. Better to wait for the gas getting low back before using it again as it not worth for small trader to spent $5-$10 just for gas.

[Baimovic]

In my opinion, the increase in the cost of ethereum gas is due to the many Defi projects that have appeared, I noticed long before the Ethereum price rose and before the Defi project appeared. We can differentiate between this case, but I think one day it will return to normal, if the gas cost gets higher, then this will affect crypto users, especially ethereum investors.

[tycsols]

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?!

It is just like paying premium in real life to the products where ready delivery is not available and people pay extra to get the product. Similarly, now in case of ethereum network congestion the real cause is that people are rushing like crazy to pick the coins and tokens in anticipation of big bull run which everyone is sure of now so to do this they are paying extra money but ethereum network should take responsibility and tell people when the transaction fee will be back to normal?

[rajsimran]

anyway you can still send your eth with low fees

Hypothetically if we would use a Transaction Speed aka a fee of 25 Gwei - would the transaction go through eventually after several days or it could drop? i.e. should we just wait for fees to go down or we can use low fees now and the transaction would eventually go through?

(Enclosed a screenshot from MyEtherWallet showing the lowest suggested fee is 480 Gwei at the moment)

You can use low Gwei but high risk to reverse back the transction. It will pending for 1/2 weeks then it will be back to your wallet. I saw a lot of posts that transction was declined and reverse back to the wallet. better to choose 100+ Gwei. If you want to make trx and don't want to reverse the trx.

[Get-Paid.com]

Yes it will. The reason is because of defi projects. We can't do anything about that, for the meantime, the only thing we can do is to wait for everything to go back to normal and for the launch of eth v2. This will probably help to get everything back to normal especially the high fees that we are facing right now.

When will ETH v2 be launched?

[H1N1]

There are no one dictating the ethereum gas fee, but there are some users that have using the high gas fee.
You can see here https://etherscan.io/gasTracker , the Uniswap router is the one who using high gas fee.
They are using very high gas fee so their transactions can be done quickly.

[piebeyb]

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?!

Everything will return to normal if people stop buying ETH and also don't make any transactions, just my view is why the fee fees are expensive?
many mafias take advantage of this situation, for example mining companies or large miners make or collaborate with investors to make ERC20 tokens with different project concepts, they waste money using high gas costs, they buy and sell these tokens on uniswap so that other people also will do the same thing, namely increase the cost of gas to quickly confirm, the advantage is that miners get more rewards from each block as well as investors get other benefits

[int03h]

Exactly, it costs $ 5 to send normally, and $ 30 to execute a smart contract. It's crazy, people have to queue up and wait for the transactions to confirm, the miners are bountiful. Given the high-cost situation, I don't think etherem is decentralized because it's actually too bad right now and the benefits are only really for miners and those who pay a lot of money to get a transaction confirmed faster.

[foxy]

What are the chances that Vitalik's developer team will release some sort of fork that will make the network a bit more scalable before the launch of ETH 2.0? Or we will have have to ride a high fee phase until 2.0 launches?

[Dedewahyu]

Hypothetically if we would use a Transaction Speed aka a fee of 25 Gwei - would the transaction go through eventually after several days or it could drop? i.e. should we just wait for fees to go down or we can use low fees now and the transaction would eventually go through?

(Enclosed a screenshot from MyEtherWallet showing the lowest suggested fee is 480 Gwei at the moment)

You can use low Gwei but high risk to reverse back the transction. It will pending for 1/2 weeks then it will be back to your wallet. I saw a lot of posts that transction was declined and reverse back to the wallet. better to choose 100+ Gwei. If you want to make trx and don't want to reverse the trx.

480 Gwei is the lowest price at the moment, if you set gwei lower than that price I believe your transaction will never be confirmed because there are a lot of people using ETH to participate. to participate in the Defi projects. It is better not to initiate a transaction now if it is not absolutely necessary
[/quote]
You can see safelow gas at ethgasstation.info but I don't recommend you to use lower gas because it will hinder your transactions. It's better if you use standard gas to make transactions, at least it will only take about 1-30 minutes even it can be faster or more long depending on transactions that are on the ethereum blockchains

[danherbias07]

Coin Trader, do you have any estimate when the fees would go back to normal? How many days from now?

I don't think there is an estimated date to when it will go back to normal.
We will just have to wait for the hype to calm down.
Who knows when will that be.

ICO's took like a year before everything settled down. But this one. It looks like its going to be short when more scams are found out.

[Psynthax]

What are the chances that Vitalik's developer team will release some sort of fork that will make the network a bit more scalable before the launch of ETH 2.0? Or we will have have to ride a high fee phase until 2.0 launches?

Slim to none maybe. Considering that they are already busy with ETH 2.0 which takes so many delay until today they don't seem to have any solution to the problem we face as of now and UNISWAP is gonna be a long loong time before the hype fades and traffic from them didn't flood the whole network. The current ETH is literally unbearable with all the high fees even in my opinion we better off without the 2.0 as long as the scalability issue being resolved otherwise it's the same condition as now.

[Skinny48]

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?!

Ethereum is growing in value and it's certain that gas fee will also grow higher, this is what happens whenever bullrun returns but there is more to this, DeFi projects are mostly running on Ethereum smart contract and that's what's causing the congestion, Ethereum 2.0 will be the solution but we don't know exactly when this will be ready