Impact of the London hard forks on ethereum

[Tessnik]

Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?

[20kevin20]

Besides price, I don't see anything working "far better" than before. I might not be working with ETH the right way or I have too high expectations.. but the fees are even crazier than before and it still doesn't look like it's able to scale enough to fit the demand.

[DarkDays]

Besides price, I don't see anything working "far better" than before. I might not be working with ETH the right way or I have too high expectations.. but the fees are even crazier than before and it still doesn't look like it's able to scale enough to fit the demand.

Yh, and I think it wouldn't take too long to convince others that the London fork has not really helped with the network fees. For the past few weeks, ETH fees have been super high that many people had to avoid them by using BSC instead.

It may just be a matter of time until all of this is being carried forward to lift ETH to a new ATH but at the moment it's fair to say that it has had little impact on the market.

[cryptomaniac_xxx]

Besides price, I don't see anything working "far better" than before. I might not be working with ETH the right way or I have too high expectations.. but the fees are even crazier than before and it still doesn't look like it's able to scale enough to fit the demand.

I agree, it doesn't change anything, the fact that the fees are still very high, tells me that it is somewhat a failed released. They supposedly solve the high gas fees, but so far we haven't see any improvement whatsoever.

Of course, as investors who wouldn't love the price hitting to $5k or even higher at the end of the year. But you need to be smart on how to reduce the gas fees if you are going to cash out in the future. Probably used another layer or totally convert your Ethereum to other coins.

[RILWAN]

Well the transaction fee problem that has been the agitation of ethereum users is still very much available and we still need to pay high fees to carry out the transactions in the ethereum network, the London hard forks have not achieved much in that direction.

[dhemasm]

Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?

Not really much i suppose but there are some good feature implementation like more efficient auction and eliminating network instability with no block reward, Last fork didn't change really much to the gas fee but it's making it more predictable and more fair, Beside that burned fee making some significant change to the price too but even like that it's still can't be used for some small user since the fast was still high, I just hope upcoming ETH 2.0 will change it.

[blockman]

Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?

It was actually good. The Ethereum dev has found a way to burn Ethereum supply since it's known to be unlimited. They're just preparing it for a bigger update.
And that is when they've already made Ethereum turned into PoS and that's a better upgrade then. So having with limited supply and then a burning capacity through London then it will give Ethereum better pricing for sure in the long term.

[Jaered]

Maybe I was misled or just plain wrong. I thought that London hardfork was going to reduce Ethereum gas fees. How wrong I was… Even disposing of my shitcoins is a problem

[blockman]

Maybe I was misled or just plain wrong. I thought that London hardfork was going to reduce Ethereum gas fees. How wrong I was… Even disposing of my shitcoins is a problem

It was also what everybody thought but after understanding the main purpose of it then it's all about the burning feature that they've added per transaction.
They're burning a portion from the transaction fees that we pay. Honestly, I've thought of it the same as you and hoped that the fees will drop down.
But in this case, it didn't because it even became more expensive and maybe the next hope for the drop of fees is through their next update.

[asriloni]

London hardfork was bringing a big change to the ethereum although there's no different on its transaction fees but the deflationary caused by the burn was giving something different on ethereum. The inflation got pushed so hard due to the burning implementation and sometimes more ethereum got burned rather than minted by the miners. The only home work to create EIP that focused to upgrade the blocksize. Second layer was good but it will always become a solution.
POS was good to prevent the inflation but remember if people were doing transaction in daily basis and the current fees on ethereum network was hurting a lot of people especially for the small shrimp.
They can't always afford to pay a few dollars just for a single transaction in ethereum or more than $10 just to send a single transaction of ERC20 token to the network.
This is a homework that must be solved as soon as possible.

[Dave1]

Maybe I was misled or just plain wrong. I thought that London hardfork was going to reduce Ethereum gas fees. How wrong I was… Even disposing of my shitcoins is a problem

You are not mislead, they really supposed to solve and reduce the gas fees. But I think there's internal bickering between pools that's why the much hype London hardfork didn't do anything as far as transaction cost is.

And the opposite had happen, now the gas fees continue to rise and we will never see again Ethereum very fast with cheap transaction fees.

[joniboini]

It's not exactly trying to solve and reduce gas fees, but to improve how the gas is auctioned afaik. The goal is to reduce sudden spikes in fees so you don't have to see a huge swing from 20 to 200 continuously. But it means that if the average price continuously rise then you have to say goodbye to cheap gas price, which I believe is happening right now.

[Tessnik]

Maybe I was misled or just plain wrong. I thought that London hard fork was going to reduce Ethereum gas fees. How wrong I was… Even disposing of my shitcoins is a problem

The belief of many ethereum users was the reduction of the transaction fees through the hard forks as the developers promised but the reverse is now the case, the fees are still there and little developmental impact have been seen so far with the hard fork, I think ethereum developers are making profits out of this high fee thing.

[terciduk123]

Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?

I admit that the ETH Hardfork had an impact on the increase in the price of ETH. Initially, the transaction fees on ETH were reduced a lot and could be said to be cheap, but now the transaction fees are increasing and unstable. In my opinion, ETH has not completely solved the problem of high transaction fees. If left unchecked, the price of ETH will be difficult to grow significantly.

[shinratensei_]

The price was increasing a lot due to the hype. people have been exploring a big chance in ethereum but the new mechanism in the transaction fees didn't give any change even if that's already restructured. People must still pay big fees for any transaction in ethereum blockchain. The london impact was so big. More and more ethereum were going out from the exchange sites but due to the new FUD from the china and this is also reducing the hype tension in the market.

People have been putting their hope to see the fees mechanism to be restructured but their hope was too far caused by the implementation was so far from their expectation.
The burning mechanism was giving at least a good update from london hardfork but the update was being too far from the main point to fix the scalability. I hope next update will bring better thing like fix the scalability problem for ethereum.

[lizarder]

Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?

Since the London hard fork, the condition of Ethereum has improved, both the selling price and the buying price. Ethereum is a direction on burning transaction fees and reducing supply, this is really a good change for ethereum in the future, even to reach the highest level for ethereum is now wide open, it just needs a little more change and development for them, to achieve ethereum that is perfect for the future.

[masterrex]

Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?

The London upgrade of the Ethereum Network has not benefited most of its users, only the whales are happy with the rise of Ethereum trading price, the truth is many users are now leaving Ethereum because of the expensive transaction fees aside from that there are reports that many Dapp's developers are also leaving Ethereum because of that fee problem that's why IMO, the upgrade is just useless for ordinary users.

[gurunanakji777]

After implementing London hard fork Ethereum price increases but I was expecting gas fees will be reduced after London hard fork so I am a little disappointed as I was having high expectations from Eth dev. Anyways now I feel Ethereum is more bullish than earlier. Now Eth is a good option to hold for the long-term but making transactions on ethereum network is still costly so I majorly use the BSC network to save on transaction fees.

[Tessnik]

After implementing London hard fork Ethereum price increases but I was expecting gas fees will be reduced after London hard fork so I am a little disappointed as I was having high expectations from Eth dev. Anyways now I feel Ethereum is more bullish than earlier. Now Eth is a good option to hold for the long-term but making transactions on the ethereum network are still costly so I majorly use the BSC network to save on transaction fees.

In terms of price the impact of the ethereum hard forks on the price is relatively high as the price have constantly broken new all-time high shortly after the London hardfork. But the fee is the major issue with the ethereum network at the moment.

[X-ray]

But the fee is the major issue with the ethereum network at the moment.

Agreed, EIP was not fixing the main problem but it was making the fees goes even higher. Some people speculated that if this EIP will be fixing it but the worst thing is if the fees never goes down like a few months ago.
It's stagnant and so many small traders were also talking about that right now and there's something wrong with. Basically, rather than burn and i prefer to see ethereum to decrease its block reward but the scalability got fixed and small traders can actively use ethereum protocol again.

We are so tired to see that the transaction fees consumes a lot of money. The burn mechanism was forcing a lot of people to pay more. If this major issue will never be solved and people will be jumping to the another protocol forever.
two digits fees are so high for a small trader that was actively trading two digits transaction on the uniswap.