Volatile Gwei Gas Fees help!

[very_452001]

Its like every 10 secs the fees are so volatile according to:

https://ethgasstation.info/index.php?curr=gbp

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  

Now I see on the Etherscan global transaction explorer that it will take 11hrs still Pending status for confirmation wth  

When I choose gwei when sending, ok after that I take a few mins to double check deposit address to make sure you know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now?

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[TryNinja]

Yes, it could be showing 100 gwei right now and quickly jump to 150 gwei. When there are some news or quick price actions (like BTC dumping), people can rush to do a swap or send money somwhere, which congestions the network. The block space is limited, so they need to fight betwene each other by increasing their fees.

[SquirrelJulietGarden]

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  

It is because the fall or increase of BTC that causes altcoin pumps or dumps. Furthermore, the block time of Ethereum is very short and the mempool of Ethereum can change faster than BTC mempool.

When you broadcast your Ethereum or ERC-20 token transactions, the gas limit need to be set at high value.

Paying low fees in Ethereum - Gas Limit, Gas Price and Gwei

You can check recommended gas price and estimating waiting time https://www.gasnow.org/

[posi]

I also believe the recent price momentum of the market influence the mempool of the Ethereum network, some investors will definitely want to make a quick sale while some already buying but the transaction timespan is much and I believe that because gas details provided on the https://ethgasstation.info/index.php?curr=gbp site these days seems not to be accurate and the best Ethereum gas estimator site is https://www.gasnow.org/.

[GreatArkansas]

Even we use the 'recommended gas amount? It will still affect the volatility of the gas fee?
I am using Etherscan's gas tracker here: https://etherscan.io/gastracker for checking the gas fee before sending any ethereum transaction.
I think if you follow the 'average' or 'high' gas fee and send the transaction immediately, it will be no problem at all. Currently, the gas fee on average and low got a very small gap.

[Bttzed03]

Even we use the 'recommended gas amount? It will still affect the volatility of the gas fee?
~
I think if you follow the 'average' or 'high' gas fee and send the transaction immediately, it will be no problem at all.

It does affect gas volatility in a way. Imagine thousands of transactions using the same recommended fee (i.e. 105) overwhelming the limited transactions that a block can accommodate. Someone who is impatient or an exchange will most likely try to get their transaction/s confirmed first by setting a higher fee (i.e. 110). That will have a domino effect.

[very_452001]

Can my transaction be stuck or denied if I set a gas fee that becomes too low now?

When will this gas price issue be fixed? I must have spent up to $100 a week on gas fees   I thought blockchain suppose to be more efficient and cheaper than the banks. What's going on? I'm spending more on gas fees than actual filling up my car with gas!

High gas fees encourage people to leave their coins on exchanges to save on withdrawal fees, this is a risk.

Is it possible to lose my coins if I set a fee that is too low causing my coins to be stuck in limbo forever somewhere in the blockchain   ?

[semobo]

Can my transaction be stuck or denied if I set a gas fee that becomes too low now?

When will this gas price issue be fixed? I must have spent up to $100 a week on gas fees   I thought blockchain suppose to be more efficient and cheaper than the banks. What's going on? I'm spending more on gas fees than actual filling up my car with gas!

High gas fees encourage people to leave their coins on exchanges to save on withdrawal fees, this is a risk.

Is it possible to lose my coins if I set a fee that is too low causing my coins to be stuck in limbo forever somewhere in the blockchain   ?

You can simply increase the gas fee now to avoid the waiting time and its an easy process. Just use the same transaction has and use the fastest recommended gas fee now the standard so your transaction will be confirmed in the next 10 mins and the previous one will be canceled.

Now only ethereum network, every POW network is under such risk and this is huge due to scalability issue on ethereum and already ethereum 2.0 is on the process so we can see no issue with transacting ethereum2.0 like now.

[shinratensei_]

know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now?

That depends on what kind of formula that already used by ethgasstation to calculate the fees, FYI if the ethgasstation could be taken the data for the latest gwei from calculating several blocks on ethereum chain and ethgasstation was taking the average gwei from a total of these blocks.
When the new block will contain high gwei and the average gwei for the transaction will be getting changed too.

Can my transaction be stuck or denied if I set a gas fee that becomes too low now?

You can, as long as your gas fees are very low and the block will reject it.

When will this gas price issue be fixed?

This problem will be fixed on the next update (EIP1559) but miners are against it and it may take a very long time to fix this problem.

Is it possible to lose my coins if I set a fee that is too low causing my coins to be stuck in limbo forever somewhere in the blockchain   ?

It's not possible, when you are sending low gas fees and that means the block will reject your tx and your coin will be going back to your wallet again.

[criket]

that's why you should choose the biggest or fast Gwei recommendation. just to anticipate if something happens like yours. a little more expensive but we can trade it right away. just wait and will also enter. but sometimes something fails if there is not enough gas and there is no drop in Gwei in the 11 hours you wait.

[Review Master]

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  

Samething's happened with me previously and i didn't use/look into that or other websites where gwei price is monitored. As i pefer to use built-in metamask which is called "crypto wallet" from brave browser where transection fee or price of gwei is automaticlally adjusted by current situation. Just select "Slow", "Average" or "Fast" mode to complete that transection and sometime, it cost lower fee than what it's showed before clicking on "Confirm" buttom to do any transections. So, better to use that functionality of metamask or crypto wallet from brave browser instead of using those websites to adjust gwei, IMO.

[Renampun]

...

all experienced this. I suggest you don't choose the 'low' transaction...
gas fee eth changes in fractions of a second due to the busy transactions that take place in the market. at a minimum, you have to choose 'medium' so that your transaction is fast processing. *btw, Currently, I refrain from transferring my HODL tokens due to high gas fees

[thesmallgod]

The gas fee is not stable just as the price of ETH is rapidly changing and this is the reason why it is not advisable to set the gas fee to low priority because if the traffic increases due to rise or fall in the price, the gas fee might go up which makes you transaction get dropped on the block chain and this might lead to late confirmation. I have experience similar scenario. It took about a week before my transaction get complete when the gas fee fall back to value below the amount I set for transaction

[Zeehaxan]

Its like every 10 secs the fees are so volatile according to:

https://ethgasstation.info/index.php?curr=gbp

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  

Now I see on the Etherscan global transaction explorer that it will take 11hrs still Pending status for confirmation wth  

When I choose gwei when sending, ok after that I take a few mins to double check deposit address to make sure you know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now?

Unfortunately at the moment gas cannot be controlled and we can not do anything about it but the good news is that eth developers will launch solutions by april which will be tested for couple of months and activated in july nd this upgrade will significantly reduce and regulate gas prices.

[Bustart]

The gas fee is not stable just as the price of ETH is rapidly changing and this is the reason why it is not advisable to set the gas fee to low priority because if the traffic increases due to rise or fall in the price, the gas fee might go up which makes you transaction get dropped on the block chain and this might lead to late confirmation. I have experience similar scenario. It took about a week before my transaction get complete when the gas fee fall back to value below the amount I set for transaction

This is really getting serious right now, erc20 community must take some actions with these underlying problems because if there's no correction happening I think holders would divert on other asset like tron or other platforms. There's a lot that could be promising, depends on it trending capacity which eventually go into tight competition with other known altcoins.

[zasad@]

Can my transaction be stuck or denied if I set a gas fee that becomes too low now?

When will this gas price issue be fixed? I must have spent up to $100 a week on gas fees   I thought blockchain suppose to be more efficient and cheaper than the banks. What's going on? I'm spending more on gas fees than actual filling up my car with gas!

High gas fees encourage people to leave their coins on exchanges to save on withdrawal fees, this is a risk.

Is it possible to lose my coins if I set a fee that is too low causing my coins to be stuck in limbo forever somewhere in the blockchain   ?

If you sent Ethereum coins, then it's okay. Wait a while, your transaction may be confirmed faster.
This transaction will not be deleted from the mem pool for several more weeks.
If you have sent tokens, then the smart contract may not have enough gas and the transaction will be completed. You will lose some of the commission.

Increase of commission and cancellation of transactions in MyCrypto wallet
https://bitcointalk.org/index.php?topic=5315007

[Mpamaegbu]

People say Bitcoin is volatile, I tell them not to conclude yet until they've had a moment with ETH gas fees. It's really crazy, honestly, to say the least. I have had an ETH transaction hung for several days because of this said fluctuations in gas fees. I remember with sadness when I used to pay 6 Gwei as gas in 2019. Now, a similar transaction of that magnitude would go for over 50 Gwei. With the way things are with ETH gas fees, I think it's still a miracle that Ethereum is still soaring in price. Well, may be sooner than later this effect will set in now that CZ Binance has a smart contract in BSC that can challenge the ERC. Yah, I know a lot of people will argue that BSC is centralized with its attendant consequences while ETH is decentralized. Even at that, is that why the community must go through hardship because it wants to process through ETH?

[Johnyz]

Fees are moving too and its really volatile on ETH platform and no one can help you with this one since this is our common problem. If you used a lower fees then expect a big delay on your transactions, since you already confirm it all you have to do is to wait for confirmations, better to use a higher gas if you badly needed the money,

[tippytoes]

Fees are moving too and its really volatile on ETH platform and no one can help you with this one since this is our common problem. If you used a lower fees then expect a big delay on your transactions, since you already confirm it all you have to do is to wait for confirmations, better to use a higher gas if you badly needed the money,

That's the only option for now to get ahead with the game. If you want to get money on time or earlier, you need to use higher gas fees just like in btc tx, higher sat/byte. Of course, the gas fees change from one time to another, and you have no control on that. What the OP can do, is just wait for it to be confirmed and next time use higher gas fees from what is the recommended gwei at that time. Right now, you have very little option as the eth network is really a pain these days.

[Bttzed03]

~ I thought blockchain suppose to be more efficient and cheaper than the banks. What's going on?

If you take into account clearing days, it can be much cheaper than banks. Anyway, blockchain is not supposed to be about the fees but the removal of third party intermediaries for transactions between two parties.

~
Just select "Slow", "Average" or "Fast" mode to complete that transection and sometime, it cost lower fee than what it's showed before clicking on "Confirm" buttom to do any transections. So, better to use that functionality of metamask or crypto wallet from brave browser instead of using those websites to adjust gwei, IMO.

That wallet from brave browser is tied to Uphold right? The one that asks you to complete KYC before you can send/withdraw funds from that wallet? I wouldn't suggest that.