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Author Topic: I'm scared of ethereum gas fee  (Read 1892 times)
GreatArkansas
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September 20, 2020, 10:22:18 AM
 #21

For me, when price of Ethereum will be x5 or more in the future, the gas fee or transaction fee will not matter as time goes by. Transaction fee will only high for the first time or people got lot of transaction within Ethereum network, just like what we experienced these days, DeFi fever everywhere.

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September 20, 2020, 10:27:08 AM
 #22

Yes, you are right.. But I only imago my how people will be able to cope ether transaction fees when it get to that price.. You know so many people will still have to use it
It doesn't need to be imagined because it will obviously cost a fortune, and everyone clearly has a different way of outwitting this problem even though the average person uses almost the same method, which is willing to pay dearly to be able to sell their more expensive token.
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September 20, 2020, 10:31:32 AM
 #23

It depends on the project if they are looking for other options rather than making their investors waste more money for gas fees.
They should.
Just calculate how many dollars are being wasted which could have been used for buying their Defi's, scam or not.  Grin
Give it more time and it will go back to normal. This hype is just too much for Ethereum to handle.
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September 20, 2020, 10:48:22 AM
 #24

dont be scared as $2k is still far from the horizon of eth. right now, you can just opt to other alts to trade with. dont revolve your crypto trading on eth tokens or defi tokens as you may be missing other profitable alts.
 if you cant afford their high gas fees, then go for other valuable alts. dont limit yourself to these tokens just because everyone is crazy about it.
But the fact that currently all of traffic and money are going to Defi, peoples are so crazy and greedy, they just focus on hottest projects, and the most profit projects are tokens from Ethereum blockchain and we don't have option.
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September 20, 2020, 11:17:05 AM
 #25

Some users have already left and do not use the Ethereum blockchain, if the fee price rises again, then another part of users will leave, so the price growth will slow down, but the situation itself is stupid, the devs of the ether could not predict this situation.

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September 20, 2020, 12:11:18 PM
 #26

Yes, now it is very difficult to carry out financial transactions, because the gas is very large, and the commission is very large. And for this you need to monitor the situation for days in order to withdraw your funds with the least loss. And I think that this situation on the Ethereum platform will end soon and everything will fall into place.
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September 20, 2020, 02:02:48 PM
 #27

Some users have already left and do not use the Ethereum blockchain, if the fee price rises again, then another part of users will leave, so the price growth will slow down, but the situation itself is stupid, the devs of the ether could not predict this situation.
Yes, for now there are already many people in crypto who are using other platforms and leaving the Ethereum platform for a while, but if this continues, then everyone will definitely leave the well-known Ethereum platform.

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September 20, 2020, 03:05:19 PM
 #28

What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.

Keep calm man. The price of Ethereum gas will never rise to $ 2,000. At this price, no one in their right mind will make transactions. Soon the hype around Defi projects will end and the gas price will return to its former place.
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September 20, 2020, 03:25:31 PM
 #29

It was obvious that ETH was created because it wanted to be something at the middle of all the crypto sphere, it is used by a lot of new stuff and they have always been welcoming as well, however they didn't imagine this much hype. We are talking about billions of dollars and that is a lot of money for people to actually go with, I am not sure if that should be something ETH is ready for, after all billions of dollars could be something you are not ready for and I would totally understand, who could guess such a big hype around defi.

But this has already happened, eth team is aware of it, and they are probably working to make it better, I do not know any of the team members so I didn't asked but you can guess nobody would say "who cares" and let it be, they are probably trying to make it better.
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September 20, 2020, 03:38:28 PM
 #30

Yes, you are right.. But I only imago my how people will be able to cope ether transaction fees when it get to that price.. You know so many people will still have to use it
It doesn't need to be imagined because it will obviously cost a fortune, and everyone clearly has a different way of outwitting this problem even though the average person uses almost the same method, which is willing to pay dearly to be able to sell their more expensive token.
I think only a few people want to do that because they other traders prefer to keep using the gas costs which are very small but can be delivered with certainty because if you use very expensive gas costs, it requires very high costs and of course the profits you cannot much because it cuts down on high gas costs.

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September 20, 2020, 04:20:56 PM
 #31

What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee.
Have no fear because there are hundred of other altcoin option that can help you if the problem is about gas. If ethereum gas price continue to increase then I firmly believe that many cryptocurrency user will switch to other altcoin that have lower fee.

As I can see so far, the current gas price has been giving people tough time.
Of course, but it can still be reduced if user are not competing for large amount of gas. When many user want their transaction to be processed quickly, fee will go up and that is a factor why gas fee are getting more expensive. Network congestion in my opinion is for that reason and obviously if I charge a lower fee then my transaction will get stuck and slow to process.

And now who is to blame, is it the user or ethereum ?

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September 20, 2020, 05:21:04 PM
 #32

We don't have any choice now do we, eth has been on rise for a while now, it is so frustrating to transaction without facing the high eth fees, if you want your transaction go faster then you just have to increase your gas otherwise your transaction will not go through, this is the new reality.

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September 20, 2020, 05:22:59 PM
 #33

The ethereum gas fee is considerably high nowadays and as a result it is becoming hard for some people now to make transactions unlike before when the fee was low .One can easily spend ten dollars in trying to send coins that are worth only twenty to twenty-five dollar and I think this will be a matter of concern for people that are new into crytocurrency .I do hope ethereum gas fee will reduce with time.

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September 20, 2020, 05:33:25 PM
 #34

Yes, this is the hot topic for a few days that Eth has a fee is so high that people are very worried about it nowadays. Eth is developing its layer 2 development and this is still not finished yet. Though I am not using it right now for this reason. Suggestion for everyone who is worried about it to avoid this as much as you can in this situation. Hopefully, everything will be okay soon.

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September 20, 2020, 05:42:48 PM
 #35

I'm not convinced what's ethereum network taking us gas fee. Considering recent gas demand, now it's quite low. However, I've doubt can newcomers afford the fixed gas fee? Furthermore, a lot of development on the way so let's see how we beat this terrifying thing.
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September 20, 2020, 06:26:42 PM
 #36

The current GAS price is better than a few weeks ago which reached 400 GWEI and in my opinion if ethereum reaches price of $ 2000 there will not be a bottleneck like now and it will not require large GAS costs, my hope is that the team can overcome all of that when the 2.0 release

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September 20, 2020, 06:28:30 PM
 #37

When Eth becomes unusable, those who cannot afford the fees will move to the other chains, it is that simple.

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September 20, 2020, 06:34:37 PM
 #38

It is a tax that we pay for the fact that Ethereum becomes useful and finally find a real use case. You can use other blockchains with lower fees and faster transactions, but it is caused mainly by the unused network  Wink.

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September 20, 2020, 06:43:45 PM
 #39

What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.

I think the high transaction fees on Ethereum has become one of the most important issue people have started to raise concerns about, and it is only natural as nowadays the fees can be huge. The other day I had to pay ~35$ for 1 transaction.

Clearly, this cannot continue and given that this is a problem everybody encounters, and one that stands as the most limitable factors to the use of ETH. There is an emergency to mitigate this issue and the fact that is a global trend means that ERH cannot afford to have this issue growing bigger than it already is.





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cryptoperkele
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September 20, 2020, 06:54:58 PM
 #40

The fact that the fees are getting higher could just prevent the price going over the top. I mean i understand speculative investment but when you can't afford to move eth or any token in it, what is it worth actually and why would people buy that before the 2.0 is locked and ready.

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