Reasons to use ETH

[seoincorporation]

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I agree with you right now ETH is not smart to be used. The fees are too high at the moment. When the ETH 2.0 comes around we can speak about using ETH again. Until then there are other options like Cardano, Tron etc.

I'm not sure about that, ETH is the smart contracts coin, so, people need it... People are trading tons of tokens and NFTs nowadays, so, people will keep using them full day by day.

I know the GAS sometimes goes crazy, just as bitcoin fees do, but that will not stop people from using it. ETH 2 is in the way and that will bring a big change, a lot of people will get it for stacking. So, right now we have reasons to use it, and in the future, we will have more reasons.

[Bitcoinjheta]

Being a decentralized platform it cannot be denied that sometimes the price of ETH gas fees goes crazy due ito the fact that thousands of people are using it. Usually it happens after the price hike goes like this but will abruptly went back to normal after network updates.

[Ridwan Fauzi]

I rarely even I never use crypto currency as mean of payment system. It means, I just using it for invesment only, as for when I want to withdraw it then I'll sell the ETH to my money fiat directly in the binance exchange. So as I only use arround $0.1 when I withdraw it.

There are so many alternative when you send crypto currency even bitcoin. Just move to the altcoin that still has a low fee and send it. Also, the transaction fee will be depend on the altcoin itself, I mean the transaction will high if the altcoin price is increase as well.

Take a look a few years ago when ETH price is still low, there are so many people who using it as a transaction tool. But, when ETH price is increase and there are so many project who use ETH network and its network become busy then its transaction fee is increasing as well.

[lobo13hf]

Being a decentralized platform it cannot be denied that sometimes the price of ETH gas fees goes crazy due ito the fact that thousands of people are using it. Usually it happens after the price hike goes like this but will abruptly went back to normal after network updates.

Did you aware about that? https://etherscan.io/gastracker

The gas fees quite stable at this moment althought there is huge increase in the price of ethereum. The daily average transaction is not moving to the bottom but it's increasing a little bit.
Something weird happened with ethereum. I think your statement was not true at all because this time the fees is very stable.

[TimeTeller]

Why does the fee significantly drop in the recent days? Does ethereum have new updates or investors do not want to use the blockchain anymore. it is just my theory lol but it surprises me that the fee has deducted. If ethereum is truly awesome like you say, it will increase its standard fee back to $20

This is what I am curious about also, am reading that the gas fee has been reduced.
But never had any eth transactions lately, so I can't attest that they indeed drop in fees.
It maybe owed to the berlin hard fork this month. They do really address the gas efficiency problem.

https://www.coindesk.com/berlin-hard-fork-is-now-live-on-ethereum

This is great news for those eth users who want to transact their eth tokens.
They have been waiting for this long time.

[Reid]

It does have a good history.
Cheapest and fastest transaction I have ever seen.
But look at how many altcoins are there now and Binance is creating almost the same thing with an offer of how good Ethereum is before.
I say they should make haste on this update or else they will be forgotten for usage and just be another asset.
Lack of usage may ruin the value of the coin.

[BitcoinPanther]

Simple reason, there are lots established token(ERC20) that uses ETH blockchain so this one is good enough to use ETH.  This simply means ETH is successful in making itself useful even though it is lagging behind in fixing its transaction fee problem.

Lack of usage may ruin the value of the coin.

True that but if you are referring to ETH, I think it has established its use, one of the reason why people still use it even though there is already an alternative chain to use in regards of cheap tx fee.  They just can't leave ETH because ETH usage had already been rooted through its thousands of ERC20 tokens.

[husencoe]

I think Etherium is so promissing because etherium have so many token that also use ETH for transaction.
There is so many project use ETH token that indicate ETH still have long term to live on crypto world. Today, Etherium on second of the crypto price list. I think Etherium always go hand in hand with the mother of crypto, Bitcoin.

[naikturun]

because the system is decentralized, but now its rivals BSc have looked to many people to use their platform, they are taking advantage of the low fees to take over, and bsc users have so far increased very rapidly.
But eth recently made changes and arranged for a lower fee payment and it turned out to be effective for some time until the transaction was solid again and I was required to pay a fee that was quite high or not different from before.

[sulis sudibyo]

Being a decentralized platform it cannot be denied that sometimes the price of ETH gas fees goes crazy due ito the fact that thousands of people are using it. Usually it happens after the price hike goes like this but will abruptly went back to normal after network updates.

Did you aware about that? https://etherscan.io/gastracker

The gas fees quite stable at this moment althought there is huge increase in the price of ethereum. The daily average transaction is not moving to the bottom but it's increasing a little bit.
Something weird happened with ethereum. I think your statement was not true at all because this time the fees is very stable.

50 gwei is still considered expensive at this time. if you look at the normal fee on the ethereum network it does not reach more than 15 gwei. so this is not a good situation. I appreciate the reduced costs that have occurred, but when compared to competing platforms, this is still not good. Ethereum fees are still quite expensive and due to the Berlin renewal there are many pending transactions or have longer confirmation times. So the current situation is not a good thing for ethereum.

[Dexion]

The picture in the current market when someone is just starting to invest in crypto, for sure he will see the highest coin which is definitely BTC, because the price is very high for now, some people will look for a rank after that which means ETH, and not that. Inevitably, there are indeed many projects created to outperform ETH, but ETH's position is hard to shake as a queen in crypto.

[DU18]

The picture in the current market when someone is just starting to invest in crypto, for sure he will see the highest coin which is definitely BTC, because the price is very high for now, some people will look for a rank after that which means ETH, and not that. Inevitably, there are indeed many projects created to outperform ETH, but ETH's position is hard to shake as a queen in crypto.

but what is currently the problem is the high transaction costs if using the ethereum platform and whether it is recognized or not, nowadays there are indeed many projects that have started to migrate from the ethereum platform to bsc and if this continues it will certainly make the ethereum platform later abandoned by the fans, when talking about the most expensive altcoins, of course, nowadays there are many altcoins that are more expensive than the price of ethereum in the market

[Ucy]

What actually matters most to me is ease of running full nodes and taking part in full network consensus for the sake of decentralization and fully controlling my assets on the network.
If the poorest person in the world with a laptop/phone can easily do those^ then I will be confortable investing longterm in the cryptocurrency.

Hope this is achieved without sacrificing on efficiency and speed.

[grabpopcorn536]

The smart chain is gradually taking over from ethereum as the high transaction fees and network congestion in the ethereum blockchain persist. Ethereum is the mother of all altcoins and from it, blockchain comes to a smart chain that has low fees and faster transaction confirmation.

ETH is leading the trend and creating many products that other blockchains must follow. Look out for blockchains like FANTOM, BSC, WANCHAIN they are recognizably replicating ETH's explorer.
ETH is the leader, but it is gradually learning other blockchains as it moves from POW to POS.
The high cost of ETH is the point that kills the project if they don't upgrade the blockchain for lower costs and faster confirmation speeds.

[sarmrakib]

I think Etherium is so promissing because etherium have so many token that also use ETH for transaction.
There is so many project use ETH token that indicate ETH still have long term to live on crypto world. Today, Etherium on second of the crypto price list. I think Etherium always go hand in hand with the mother of crypto, Bitcoin.

I think you said right the blockchain are using for many token which actually make the pressure of transactions and making it high. At the recent the new project are coming with Binance smartchain which actually decrease the pressure and gradually the fees are going down.

[Ararbermas]

The reason for using ETH today is almost zero. Transaction costs on the blockchain network are too high and that benefits the miners more than the users. Projects on ETH are shifting to BSC to reduce transaction costs. ICO, IDO activities are more organized than on BSC.
In the future, if ETH upgrades its network to reduce costs, it can bring users back.

actually its normal for a traders and investors to tends to use such way because of ETH gas is so high and unacceptable at this moment . But perhaps all of this replacement when it come making transaction is only a temporary way , wherien soon or later when ETH is back to its normal process, for sure all clients will be back also to rely on it again.. Indeed ETH is very convenient to use and its been years on its service so there's no way they cannot fix this thing in my opinion..

[Argoo]

Simple reason, there are lots established token(ERC20) that uses ETH blockchain so this one is good enough to use ETH.  This simply means ETH is successful in making itself useful even though it is lagging behind in fixing its transaction fee problem.

Lack of usage may ruin the value of the coin.

True that but if you are referring to ETH, I think it has established its use, one of the reason why people still use it even though there is already an alternative chain to use in regards of cheap tx fee.  They just can't leave ETH because ETH usage had already been rooted through its thousands of ERC20 tokens.

To solve the problem with high transaction fees on the ethereum network, we have to wait a few months. During this time, this coin is unlikely to lose its current position and popularity. Moreover, now the whales are very actively buying it and it is now growing well in price. It even shows much better growth rates compared to Bitcoin. Ethereum has set an all-time high again today, rising above $ 2,700. I think that this year we may well be able to see its price of $ 5,000, especially if in October its scalability increases, as planned, 25 times.

[deathcode]

I think Etherium is so promissing because etherium have so many token that also use ETH for transaction.
There is so many project use ETH token that indicate ETH still have long term to live on crypto world. Today, Etherium on second of the crypto price list. I think Etherium always go hand in hand with the mother of crypto, Bitcoin.

I think you said right the blockchain are using for many token which actually make the pressure of transactions and making it high. At the recent the new project are coming with Binance smartchain which actually decrease the pressure and gradually the fees are going down.

Although there has been a decrease in transaction costs on the ethereum network, this has not yet been maximized. I still see the transaction fees moving up and down again. it is influenced by the number of transactions on the ethereum network. because more and more are using this network.
but the question is whether the same problem could happen to BSC in the future?

[tbterryboy]

What are the more reasons you think of using ETH?

It is simply because all the good things are there, that is the only reason I have. I mean sure BSC is also great, but I am using that too, nobody forces you to use ETH and nothing else, if you like some others use them too. I personally have some funds saved aside so that I can test things, I see that money as money spend on education and that means I get to do whatever I want in something brand new and learn how it works and get better understanding of it.

This is why I was capable of checking everything and they looked all great, that means if you want to use ETH go ahead and do that, there are many good things there, if you want to use something else, like BSC or Tron then go ahead and add that too, as long as you have enough money to do two things, like even 100-200 dollars, that is fine to divide into two and spend it on two different places.

[Altcoinsintel]

Fees are probably at the lowest point they can get. I managed to make a few transactions with 50 gwei and even lower, but it is rising again, and I don't know if any proposal will save Ethereum.
Sadly, this instability in fees creates vast problems that will become a burden for developments. Maybe some people don't care and value Ethereum at 200 billion but I don't and while the hype last, everyone is a hero.
There comes a time of realization again after the euphoria and maybe next time (third time) will be a charm.