Thoughts on Tron Fees Going UP 4X

[TheBunting43]

So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?

I personally do not mind it. It gives people incentive to freeze a bit of their holdings for Energy (mostly), which they will earn small rewards on, contribute to voting which is currently mostly governed by whales, and overall stabilize the ecosystem. I already had a bit frozen on all my main wallets that I use on platforms so it wont directly effect me unless using sub-wallets. How is it effecting you guys?

[Hallmader]

An increase of any transaction fee is more bad than good. And in this particular case involving Tron, everything is much worse than just a simple increase because the increase is 4x. That sounds like an unreasonable increase. Is this really needed this time? Does it happen because of an urgent reason?

If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.

[kotajikikox]

Just now that i heard this and i felt sad because i use tron for its lower fees just like Doge coin and ripple specially when i gamble but now having x4?hope this won't be consider and ask first the user if they are pleased or not,because this may push us to find another one that will remain lower in fees because admit it that cheap coins like tron mostly being the option for sending as the cheap fees being consider.

An increase of any transaction fee is more bad than good. And in this particular case involving Tron, everything is much worse than just a simple increase because the increase is 4x. That sounds like an unreasonable increase. Is this really needed this time? Does it happen because of an urgent reason?

If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.

Lets see what most tron users say about this but i think same as ours.

[samcrypto]

An increase of any transaction fee is more bad than good. And in this particular case involving Tron, everything is much worse than just a simple increase because the increase is 4x. That sounds like an unreasonable increase. Is this really needed this time? Does it happen because of an urgent reason?

If this would result into freezing their holdings, this is therefore bad as this discourages transactions on the network.

I don't know the exact reason for the increase on transaction fee, but its pretty high increased considering the market situation that we have right now. Freezing their holdings should be more on the hodlers side as their choice and not a platform choice I guess. Well, let's see if the result will be bad or good and only the hodlers or users of TRON network can say that one.

[Johnyz]

Is this just a proposal or already out in the market?

I'm sure many supporters of TRON will be against to this one and they might not approve this because TRON is one of the cheapest platform and many might leave this if they push it through. Though this might not be a big increase to some, many might still hesitant to agree but if TRON knows that its for the best of the project, then why not.

[Maxre]

Maybe if the benefits outweigh the disadvantages maybe it won't be a problem for users, but x4 is too much because Tron is already one of the cheapest blockchains when it comes to transactions, it's not impossible that loyal users can leave it.

[Rowenta]

Lol, I've talked about this before, the reason why transaction fee are cheaper on Tron, XRP, Doge is because these altcoins are extremely cheap, things will change for them if they surge up in value, their gas fee will never remain the same again, it's simple as that

[ryzaadit]

Lol, I've talked about this before, the reason why transaction fee are cheaper on Tron, XRP, Doge is because these altcoins are extremely cheap, things will change for them if they surge up in value, their gas fee will never remain the same again, it's simple as that

Someone finally has a good post.

Come one, even the fee increases 4x on the chain your transaction on an exchange and some service only required 1-5 TRX the cost only under 10 cents. How much cheap you want damn! I don't know for some people who really paranoid about a fee was an increase just only a few cents.

Still can't know in some people's minds who really worried and paranoid with the fee even the fee already pretty cheap cost only a few cents.

[Eco_111]

Gas fees depends on the value of a coin, whenever a coin goes up in value the gas fee will increase, there are many examples of this in Bitcoin transaction fee and Ethereum too, Tron was just 0.02$ weeks ago and now it's over so gas fee will definitely increase but the fee is not a killer, still very affordable still, why this complain OP?

[cryptogod322]

I think this is a great solution that will allow TRX to grow in value. I have already thrown all my coins into the freeze and will wait for growth! Moreover, a huge altseason is coming soon, and this news is just perfect.

[SquirrelJulietGarden]

TRON has and increases its adoption by its very low transaction fees. People would like to save fee and want to use TRON for their transactions. Exchanges satisfy needs of customers by building the gate of deposits with TRON and also withdrawals on TRC20 chain. If you use Binance, you will see the fee for withdrawal with TRON on TRC20 chain is very low, and almost free. It is very cheaper than BTC, OMNI, ERC20 chains.

If the proposal to increase transaction fee on TRC20 chain is accepted by a consensus, TRON adoption will fall and the crypto will have other alternatives to replace TRON as a new cheap transaction method.

[Shallow]

To be frank the reason why most people use Tron chain for transactions is that, it comes free or nearly free, at least for USDT transactions through Tron is free on most exchanges, also increasing the transaction fee to x4 might not look a bit high or not high at all.
That is, what is the current transaction fee? For USDT transactions it is 0, so increasing it to x4 that's about 4 Trx, so what's the price is 4 Trx, that is, less than $1 about $0.120444 (currently). So looking at this, this is still very cheap when compared to that of other blockchains.
So sincerely, I do not see much difference in it, for something you have being using for free and then pays aforementioned amount to use it, is still close to nothing. Also, in my own opinion, the team did what they had to do to ensure more usage of the coin and hence more growth, also those who have been using Tron chain will still not tell the difference in transaction fees since it is slow.
This is just my opinion and analysis, unless I am missing something but i still not see it as a problem or something that will make Tron drop in price terribly.

[bitcampaign]

I don't use TRX for transactions, I just store it in my Binance account, I think for the price of TRON it's still relatively cheap so it doesn't seem a problem if every transaction costs a few TRX, just try to see that ETH is still quite expensive for transaction fees

[DoubleAweSeven]

If more fees means more rewards, that's a pretty good deal to people who rarely do transactions in tron and just hold it. I don't really know much the fees of tron but if it's on par with doge or xrp, then it's really not that bad. $0.01 x 4 is just $0.04 so it's not much, but that's assuming the transaction fee of tron is $0.01.

[leea-1334]

No idea how much TRX fees cost but I guess it's fixed if they're quadrupling it? Is that more an incentive to miners to stay on the networks or is this just as you say a way to burn up all those micro wallets?

Always though altcoins figured out the fee structure by now.

[TheBunting43]

I think because the transactions were so cheap before, that dapps were able to bring out casinos etc where you could auto roll (on chain) because transactions were so cheap and it was congesting up the chain... well thats what I think. According to Justin Sun, it is to get more people freezing and voting on governance which in turn, balances and stabilizes the ecosystem as a whole.

Is this just a proposal or already out in the market?

I'm sure many supporters of TRON will be against to this one and they might not approve this because TRON is one of the cheapest platform and many might leave this if they push it through. Though this might not be a big increase to some, many might still hesitant to agree but if TRON knows that its for the best of the project, then why not.

It has been voted through and is effective. You can view the vote on Tronscan. Both for Bandwidth AND Energy have been approved.

[thenextking]

Very good for miners of course. I go with Ark.io Ecosystem for very low fees

[TheBunting43]

Very good for miners of course. I go with Ark.io Ecosystem for very low fees

Tron isnt minable... Unless I am mistaken, the TRX is burned. Thats what creates the energy you need to complete the transaction.

[CryptoTech_]

So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?

Changing the transaction fee to be 4x more expensive, that means it will make transactions confirmed faster too, right? If that is the case, it doesn't matter to me because the current transaction fees are still very cheap for TRON, and Tron's prices are also very cheap.

[TheBunting43]

So they have just voted FOR a proposal to pretty much 4x the transaction fees on the Tron Network. Pretty much means for burner wallets to do certain transactions it can cost a good few TRX per transaction. What do you guys think of this change?

Changing the transaction fee to be 4x more expensive, that means it will make transactions confirmed faster too, right? If that is the case, it doesn't matter to me because the current transaction fees are still very cheap for TRON, and Tron's prices are also very cheap.

But they were already very fast beforehand? They didn't need changed IMO as it was already efficient. They are still FREE for me because I only do a withdraw on a couple platforms per day and I have enough TRX frozen to cover those.