ETH high gas fee

[bocyaj]

To end high transaction costs on the ethereum network, the blockchain itself needs to fully convert to POS instead of POW as before. People are organizing auctions to speed up their transactions, the more people want to send deals quickly, they will have to spend more money to make transactions faster.
When removing POW and replacing it with POS, DPOS made sure the cost was fixed. At that point, sudden high costs will no longer happen on the Ethereum network.

With my knowledge, the gas fee of ethereum is keep increased in this year a lot.It had behind with the rise in price of Ethereum above 350$.Now the price reached 500$, so it will reduce with reduction in Ethereum price.But prediction not works all the time.It need a huge knowledge on trading and achieved only by practice.

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[harapan]

I don't know what happened to the gas this morning but for now the gas is much lower, I also really hope ethereum can solve this problem as soon as before or after 2.0. because this becomes very scary for bounty hunters and traders with small capital

[pedrillo0]

It is all due to the high transactions of the DeFi!

I think it seems more like a way for people to adopt the new ETH 2.0 which is already a reality.

With the POS will come many improvements...   

[bitkanu]

I don't know what happened to the gas this morning but for now the gas is much lower, I also really hope ethereum can solve this problem as soon as before or after 2.0. because this becomes very scary for bounty hunters and traders with small capital

It looks like that people are not feeling panic again and they were starting to send their txs use the sense gas fees. They were not rushing like what already happened a few hours ago when the fees totally non sense.
the hunters and small traders can do nothing about that when the fees are too high. I hope that will not happen again.

[BayAngelo]

To be honest, i am getting impatient with Eth high fees. i have spend huge amount of money i will never pay on a normal good day but just because i have a very important trade to make, and uniswap been a stress free and fast platform. it has worsen the situation. quite terrible but this will damage the reputation ethereum if this high gas fees are not treated urgently.

[Psynthax]

That's what you have when so many projects are under the same blockchain. The traffic is so crowded and EThereum just can't bear to scale or adapt very well.
Although ETHEREUM upgrade is right in front of us but it's still a shame that even the #2 Crypto with really high market cap that's supposed to represent crpto for mass adoption still doesn't scale very well when many people eager to use it.

[DabsPoorVersion]

Who knows when this madness will end,

But this fee is because the price of ethereum is higher than in the previous months. If you are doing transactions in this network, you have no choice but to accept the high fees. But if you are going to withdraw your funds, I suggest you to use another altcoin so you can at least save more funds.

[tvplus006]

...Who is willing to pay such amounts for a transaction?

Yesterday I transferred tokens from myetherwallet wallet to the exchange, and I independently specified 50 gwey. The transaction was not rejected, but the tokens were credited to the exchange a few hours later. If you are not in a hurry, you can use this advice.

[fadhilz123]

The high gas fee depends from Ethereum transaction, the more transaction will make the gas become so expensive, and no nothing you can do except waiting, Based on forum time November 26, 2020, 10:57:58 PM. gas price only 20Gwei($0.22). So if you meet the gas fee become so high, don't make a transaction and waiting for it until become cheap

[Darktongue]

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

We don't know the correct time yet, maybe after Ethereum 2.0. Even some centralized exchange attached extra withdraw fee on ERC-20 altcoins. Don't you think ETH blockchain forces us to use another blockchain? I'm using another coin to withdraw my flat money or altcoins. We couldn't take this opportunity from decentralized exchange but centralized exchange can be used by other coins.

[Iyeman]

The high gas fee depends from Ethereum transaction, the more transaction will make the gas become so expensive, and no nothing you can do except waiting, Based on forum time November 26, 2020, 10:57:58 PM. gas price only 20Gwei($0.22). So if you meet the gas fee become so high, don't make a transaction and waiting for it until become cheap

It's going normal again and i have made a transaction last hour and i just pay less than a dollar to create a prioritize transaction. It has been getting confirmed instantly without need to wait a few minutes before the block will confirm my transaction. The problem is the fees can spike anytime.

[robattfield]

Actually this is an issue that Ethereum needs to upgrade as the transaction fee is too high, yesterday i also lost about $ 6 in transaction fees. But this is nothing if you still remember the time when DeFi broke it, the fee gas fee is really stupid, i had it but the transaction cost me tens of dollars. All expectations are towards ETH 2.0 which can be solved on Ethereum currently.

[Cameron1Love]

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

I pay that price if I totally needs funds from eth I will only do that if its for emergency but its too expensive for me to pay like that. I wish ETH devs make a solution for that problem and hoping that ETH 2.0 is enough to solve that.

[fridrix21]

Don't worry, soon the gas price will return to its place and become cheap again. It has now risen due to the sharp drop in Bitcoin and Ethereum. By the way, the price of bitcoins is already stabilizing a little, as is the price of gas.

[Menawi12]

I have paid a transaction fee of more than $ 5 but I think it's still worth it when claiming an airdrop from Uniswap. It is common for transaction fees on ethereum to change depending on whether the ethereum network is busy or not. Hopefully the launch of ETH 2.0 will reduce transaction costs

[Ghondronk]

When the market starts to perform well, more transactions would take place and hence, the load on all nodes will be increased. I believe that the increase in gas fee is merely to control the load on these nodes. I hope that will come down once the market becomes stable.

[bryant.coleman]

I have paid a transaction fee of more than $ 5 but I think it's still worth it when claiming an airdrop from Uniswap. It is common for transaction fees on ethereum to change depending on whether the ethereum network is busy or not. Hopefully the launch of ETH 2.0 will reduce transaction costs

I am hearing about this for the last two years. Ethereum 2.0 is a scam. IMO, Ethereum has run out of steam and the developers are desperately trying to keep the hype alive by bragging about ETH 2.0. They are implementing it even before the testing phase is over. There is a very good chances that vulnerabilities will be found and wallets will get attacked. Anyway, a fee of $5 per transaction is not at all viable.

[Squezzi55]

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

Whenever this happens just take a deep breath and relax, wait for a day or two the Eth gas fee will go down again, just because Ethereum is surging doesn't mean it's gas fee will stay up forever, right now I checked again and it's down, you can make a successful transaction with just 23gwei (0.25$)

[piebeyb]

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

I saw that yesterday when there was panic selling due to correction of bitcoin, ethereum and others, so maybe a lot of people make transactions for selling and not selling too late so they want to do it using high fees so they can sell their erc20 or ETH tokens, but today it has very stable under 30 Gwei https://etherscan.io/gastracker

[southerngentuk]

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

I saw that yesterday when there was panic selling due to correction of bitcoin, ethereum and others, so maybe a lot of people make transactions for selling and not selling too late so they want to do it using high fees so they can sell their erc20 or ETH tokens, but today it has very stable under 30 Gwei https://etherscan.io/gastracker

It depends on whether the volume of transactions is large, I remember yesterday I traded on the ethreum network with a gas fee of around 50 Gwei, this issue was discussed a lot for Ethereum because of the transaction speed as well as fee is too high compared to other platforms, but I see ethereum coming soon ETH 2.0 and this I think will make ethereum better.