ETH high gas fee

[Coin-1]

I think people were expecting too much from the London hardfork implemented on the Ethereum blockchain in August 2021. They thought the transaction fees would be very low, and they would send cheap ETH transfers and swap ERC20 tokens on DEXes.

In fact, Ethereum miners are now earning little money from transaction fees that exceed the base fee per gas. However, they are interested in burning as many ETH coins as possible in order to make the supply more scarce on cryptocurrency exchanges. The whales will also likely try to add deflation blocks burning more than 2 ETH in order to publicly report about the useful feature introduced recently.

In such a situation, I guess the transaction fees will remain quite high in the near future.

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[poodle63]

Fees are much higher than the normal cost. ETH will never reduce this fee? If the fee is reduced as before, then maybe there will be a lot of profit for traders. And it can increase the investment a lot.

The fee will probably never be reduced in the future because the fee also follow the price of ETH and can randomly increase again when there is huge bullrun happening in the market.
But many of people already moving to BSC as an alternative and the fee is chaper compared to ETH so this fee problem is only for people who still stay in ETH although maybe in the future it
will be solved and maybe the fee can become really cheap again.

[Veter2000]

Fees are much higher than the normal cost. ETH will never reduce this fee? If the fee is reduced as before, then maybe there will be a lot of profit for traders. And it can increase the investment a lot.

The fee will probably never be reduced in the future because the fee also follow the price of ETH and can randomly increase again when there is huge bullrun happening in the market.
But many of people already moving to BSC as an alternative and the fee is chaper compared to ETH so this fee problem is only for people who still stay in ETH although maybe in the future it
will be solved and maybe the fee can become really cheap again.

The cost of transactions and scaling, according to Buterin himself, will be reduced only after the transition to the ETH 2.0 blockchain and the launch of POS mining and sharding. And this transition may begin in early 2022.

[poodle63]

The cost of transactions and scaling, according to Buterin himself, will be reduced only after the transition to the ETH 2.0 blockchain and the launch of POS mining and sharding. And this transition may begin in early 2022.

If after that happening and the gas price of ETH become as cheap as BSC it will probably help ETH make the market rally and increase its market capitalization.
But we don't know what will happen to the fee before that. But if the fee is still more than BSC, I wonder if people will still stay in BSC or move to ETH again because the gas price is maybe not that expensive anymore.

[anti-dot]

I think people were expecting too much from the London hardfork implemented on the Ethereum blockchain in August 2021. They thought the transaction fees would be very low, and they would send cheap ETH transfers and swap ERC20 tokens on DEXes.

In fact, Ethereum miners are now earning little money from transaction fees that exceed the base fee per gas. However, they are interested in burning as many ETH coins as possible in order to make the supply more scarce on cryptocurrency exchanges. The whales will also likely try to add deflation blocks burning more than 2 ETH in order to publicly report about the useful feature introduced recently.

In such a situation, I guess the transaction fees will remain quite high in the near future.

That's interesting and obviously a detail I missed to understand about the fork. Is there a ratio or statistics available of emission vs. burning per day? Are we talking substantial numbers here or does the daily emission still outcompete the actual burning rate?
Also, would it ever be possible that the supply becomes deflationary due to that feature? From what I understood it wasn't really the goal for Ethereum to become deflationary, so maybe you can enlighten me here.

[Ever-young]

Right from 2020 when the gas fee went up, we have been paying because we have been left with no choice, I have spent over 60$ worth of eth as gas fee on uniswap, currently the price is in fluctuation, I have not seen it above 15$ lately, as of the time of this comment, it's currently, 5$. We believe it will reduce in due time, when the rate at which projects migrate from the Blockchain to a more cheaper one increase.

[ogundowotoby01]

Sometimes i think the High ETH gas fees are exaggerated of course paying as much as $3 - 6 for transactions is much but it cannot be in anyway compared to the transaction fees on the bitcoin blockchain. I think Vitalik and his team have a lot to do on the ethereum V2 on top of that list should be lowering the transaction cost of tokens on the eth Blockchain, this will speed up the rate of crypto usage

[speedforce]

Problem face by every trader and bounty participants with gas fee because many project delay distribution when gas price up, I think good moving if any coin have both network between erc20 and bsc20 so trader or bounty participant have good choose when trading or investing. Right now many coin have both network BSC or ERC and we can choose which one is worth for investing and deposit coin.

Agree, some of my tokens also trapped on the wallet since i cant move it because the fees will just hurt me so much because the amount of the tokens is not so much.
The only option we have is just wait until the gas reduced to be rational amount.

But in a best case scenario that is going to happen fast or otherwise these tokens are also dying down in value probably. Then again we know that it will take quite some time until Ethereum plans to further improve its scalability. It is definitely a mess with the gas fees. Time and time again I check what the transaction would cost me and it is just not possible to perform it.

But i have no option since i have no ethereum left on my wallet, i should deposit it from exchange which already hurt me a lot, then fee for swap it on Dex after that i need to send back the Ethereum to the exchange. I dont think i have Ethereum left after such that activities  

[tabas]

ETH gas fee has become a problem for all of us. I heard that the ETH gas fee will be reduced in a few days.

Where have you heard that? but, it seems that it's decreasing and if this continues then we're all going back to normal again.

But sadly, its gas fees have not been reduced yet. I have not yet received any news regarding when it will be reduced.

It did.

[Clement Kaliyar]

ETH gas fee has become a problem for all of us. I heard that the ETH gas fee will be reduced in a few days.

Where have you heard that? but, it seems that it's decreasing and if this continues then we're all going back to normal again

Only in dreams the fees went down, yesterday i participated in a drop and the amount of gas fees i had to spend to get them is ridiculous and after not getting the confirmation even after trying to get the NFT a few times and loosing gas fees whenever i tried was crazy that i had to pull out of the auction and loosing $100 in gas fees and yet i was not able to purchase them.

[finaleshot2016]

That is why, in terms of transaction fees, many individuals prefer BNB smart chain to ETH. The fees for ETH transactions are extremely expensive and unreasonably high, which is why the majority of NFTs are currently on the Binance smart Chain. Only AXIE infinitey is in the ETH because this NFT game started a long time ago, while the other NFT games are in the Binance Smart Chain, as you can see in many popular NFT games.

[tabas]

ETH gas fee has become a problem for all of us. I heard that the ETH gas fee will be reduced in a few days.

Where have you heard that? but, it seems that it's decreasing and if this continues then we're all going back to normal again

Only in dreams the fees went down, yesterday i participated in a drop and the amount of gas fees i had to spend to get them is ridiculous and after not getting the confirmation even after trying to get the NFT a few times and loosing gas fees whenever i tried was crazy that i had to pull out of the auction and loosing $100 in gas fees and yet i was not able to purchase them.

Not in dreams, I actually witnessed that before the fork and that's so much better than after the fork. Well as checking the fees most of the time.
You need good timing if the fees drop then you should do your transaction by that time. The lowest that I've seen I think is 27 gwei but now, it's 53 gwei.

[labenea]

true, the high cost of ethereum gas is still a major problem today. and I don't think it's possible for ethereum gas fees to drop again in the near future, especially knowing that the price of ethereum continues to increase, it is very likely that transaction fees on the erc-20 network will last a long time.

[Rb48]

Ethereum's transaction gas fee has increased a lot. However, we can see that it is decreasing at present. We want ethylene gas fee prices to come down further and the Ethereum platform to go much further.If the Ethereum gas fee is greatly reduced then the Ethereum platform will go much further and the value will be the highest popularity.

[Ronzybloch]

When will this madness end?
Who is willing to pay such amounts for a transaction?

Exactly dear ,  every  one is worried about this fee charges .. Etherum transcation fees is rising too much high , 
In depth view into Ethereum Average Gas Price including historical data from 2015, charts and stats.
Average Growth Rate: 2.44K%,  A standard ETH transfer requires a gas limit of 21,000 units of gas. The more complex the commands you want to execute, the more gas you have to pay.

[Raflesia]

That is why, in terms of transaction fees, many individuals prefer BNB smart chain to ETH. The fees for ETH transactions are extremely expensive and unreasonably high, which is why the majority of NFTs are currently on the Binance smart Chain. Only AXIE infinitey is in the ETH because this NFT game started a long time ago, while the other NFT games are in the Binance Smart Chain, as you can see in many popular NFT games.

That's why every time there is a pump on Ethereum gas, it will definitely increase as well, to be honest I'm reluctant to hold tokens on the Ethereum blockchain because it is very expensive, like now when I want to sell some tokens I have to prepare it's at least $10 to send tokens on an exchange whereas on the Binance network we only need a penny I'm enough so this will be of much interest including on this now popular NFT.

[GaxviiBuss]

I think this is increasing day by day, it's one of the reason have not been able to withdraw from the platform because the gas fee is annoying most times, though I take it as an opportunity for the coin to rise more. But on the other hand there network is ok but the gas fee is high compare with BSc and others.

[hamba laeh]

When will this madness end?
Who is willing to pay such amounts for a transaction?

it looks like the current ethereum transaction fees are already low and not as high as they were a few months ago. and at that time only a few people wanted to transact using ethereum because it was not in accordance with the capital they had. and many people switched to using bsc at that time because the transaction fees were low. but now it's back to normal and people are using eth again.

[anti-dot]

Problem face by every trader and bounty participants with gas fee because many project delay distribution when gas price up, I think good moving if any coin have both network between erc20 and bsc20 so trader or bounty participant have good choose when trading or investing. Right now many coin have both network BSC or ERC and we can choose which one is worth for investing and deposit coin.

Agree, some of my tokens also trapped on the wallet since i cant move it because the fees will just hurt me so much because the amount of the tokens is not so much.
The only option we have is just wait until the gas reduced to be rational amount.

But in a best case scenario that is going to happen fast or otherwise these tokens are also dying down in value probably. Then again we know that it will take quite some time until Ethereum plans to further improve its scalability. It is definitely a mess with the gas fees. Time and time again I check what the transaction would cost me and it is just not possible to perform it.

But i have no option since i have no ethereum left on my wallet, i should deposit it from exchange which already hurt me a lot, then fee for swap it on Dex after that i need to send back the Ethereum to the exchange. I dont think i have Ethereum left after such that activities  

Oh yes bro, I hear you...

The withdrawal, the swap, the moving of the tokens, selling them, withdraw again to an exchange where you can cash out. That turns $100 into $10 at best right now!

A while ago I had some Ethereum stuck on Forkdelta because it was still deposited in a smart contract. My god I can tell you that was such a sweat to get it out. It wasn't that much, but you wouldn't want to leave it either. Then Forkdelta produced an error all the time until someone explained how to withdraw from the control command within MyEtherWallet. That was helpful, but still expensive. You first need to send ETH to the address, then use that ETH to perform the withdrawal of the smart contract, and then send it again to wherever you want to send it.

[Emmychris]

Well due to the congestion of the ETH blockchain there has been insane rise transaction fees and transaction time, which had made some users deviate to other blockchains with cheaper fees and faster transactions time, well we all hoped that the eth 2.0 would be a solution to the high fees of the Eth network well but so bad the launch of the ETH 2.0 hasn't shown any much effect as fees are still high tho not as high as the past months, well lets keep watching how things goes with time.