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Author Topic: When ETH GAS Price will stable? We paid 33.74$ GAS price for 10$ token transfer.  (Read 361 times)
DonFacundo
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October 07, 2021, 07:28:35 AM
 #21

You better wait the gas to go down so that you avoid to pay high gas fee. Eth network has still no solution to fix the problem of the gas but luckily we have alternative network such as Binance Smart Chain, Polygon, Tron network we can use these networks to avoid to pay expensive transaction fees if your token supported these networks. 

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October 07, 2021, 08:05:23 AM
 #22

Unfortunately, already several years the price of gas on Ethereum blockchain has been too high and there is nothing to be done about it, and Ethereum developers are in no hurry to change something, so you have to constantly wait for the best moments when the price of gas drops at least a little and then you can make cryptocurrency transactions through Ethereum blockchain, and in general I have been trying not to use Etheruem blockchain already long time, since this blockchain has already become for rich people and therefore I use other blockchains for cryptocurrency transactions, but in general, it seems like everything should change when all stages of Ethereum 2.0 will be released...
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October 07, 2021, 08:30:32 AM
 #23

Ethereum network as it is right now have already priced many user out of it's platform because of insane fees on it's network.  The small guy can not use ethereum like it use to be, Ethereum is for the big guys now. This development will definitely hamper growth and stiffen innovation and development.  However,  the ethereum infrastructure is still the best for many developers who want to deploy different project!

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October 07, 2021, 08:53:53 AM
 #24

You should always check gas fee before make a transaction. You can check ETH gas fee here https://etherscan.io/gastracker. This is the pick hour. ETH gas price is less on 4-6 Am (UTC 0). If you do the transaction at that time, you can do the transaction at a much lower fee.

I am planning to transfer an ERC-20 token into an exchange...so am taking note of this hour range so I can be able to lessen the gas fee required. I am actually sad that Ethereum remains to be incredible when it comes to transaction fees. I love Ethereum and I am still some coin in my wallet but I hate the fact why do we have to pay such "insulting" high fees. As what I am always saying, we never signed for cryptocurrency thinking that we will be required to pay such heft amount to move these tokens under the network. We need solutions for this big problem and hope the Ethereum team can hasten that arrival.

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October 07, 2021, 04:55:30 PM
 #25

The biggest problem of Ethereum is scalability which means slow and expensive transactions. That is why many people, especially those with small capitals, are moving to alternative cheap chains such as BSC, Polygon. The lower the activity on Ethereum is, the lower transaction fees are, so one of the ways for Ethereum’s fees to become more stable is to wait for a decline of 2021 hype.



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October 07, 2021, 05:58:52 PM
 #26

As I know, Ethereum 2.0. is going to solve the problem of Ethereum's scalability and big fees. After launching Ethereum 2.0. this blockchain will be switched from Proof-Of-Work consensus, to Proof-Of-Stake. Coins that are working on this consensus have lower transaction fees, because it is easier to keep this network and validators get less rewards, so I expect that Ethereum will become cheaper and it will be easier to run small transactions.
They've talked about 2.0 for years and also the problem of expensive fees but so far, there was never an agreement that effective solve this problem once for all. While more token layer itself to the ETH's ecosystem only make this problem more unbearable hence ETH 2.0. So yeah, my expectation for a truly end it, scalable transaction fee with ETH's price but still fair on the miners is very low.
BayAngelo
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October 07, 2021, 06:02:06 PM
 #27

why will you take that risk of exchanging a token with a lower price to your gas fee? it is ridiculous. unless you planned to clear out your worthless tokens. currently ethereum gas fees remains unsolved and I think the problem will persist. even if the burning and staking continues, the problem will not be solved. the best option is to deal with ethereum side chains. bsc and the rest.

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October 07, 2021, 06:34:48 PM
 #28

Unfortunately, the gas price on the Ethereum network continues to show high values. There was information that with the launch of Ethereum 2.0, the situation should change for the better, but at the moment, unfortunately, there are no positive changes. Because of this problem, new networks began to appear, which have significantly low commissions, which forces users to switch to using them. I certainly still hope that Ethereum will sooner or later stabilize the load on the network and we will be able to see low fees, but in the meantime we have to use other networks, such as BSC and Polygon.
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October 07, 2021, 08:42:40 PM
 #29

Few days ago i made a transaction on ethereum blockchain, sad to say it cost me over forty dollars. Today's cost is hovering at 30 dollars. Ethereum network is insane, I bet a lot of people will move over to BSC, tron,  and polygon which are way cheaper.

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October 07, 2021, 09:02:07 PM
Last edit: October 11, 2021, 10:39:36 PM by seleme
 #30

There is no option except to follow the GAS fee and sending transactions when fees are low. Otherwise, you are supposed to pay an insane fee regardless of the amount. It is the worst side of sending a small amount worth of tokens, you have to pay the same amount to miners for processing it. Better wait for the perfect time before sending it and use lowe Gas fee to save the commission. Another alternative option is to use Telegram bots to get latest info and use the best time for processing transactions.

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October 07, 2021, 09:47:00 PM
 #31

I think ETH biggest problem is GAS price. Today we paid 33.74$ GAS price for 10$ token transfer.

https://etherscan.io/tx/0xc09e5515f8f53b88b9bd4063a33ce8368f9bf0e8e86ebf4c14b86d25d874161b

What do you think, is there any possibility for ETH GAS price will stable?

Right now, am wondering why you did this transaction in the first place knowing fully well that the fees are way more higher than the token itself.
I personally have some few tokens stuck in the Ethereum blockchain which I would never bother moving or selling if the fees continues to stay this high, why would I have to spend over $33 usd to move and sell a token worth $10 usdt all together? That's a very big loss and am still wondering why the op did that transaction.

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October 07, 2021, 10:14:04 PM
 #32

This is the only reason that makes me hate Ethereum! ETH is a good coin but the only problem with it is the transaction fees. I have some ERC20 tokens in my Metamask wallet they are worth like $100 but I can't withdraw them because I don't have enough ETH to pay the gas fee, the worst thing is that it will cost a lot of money if I transfer ETH to Metamask from my other wallets.
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October 07, 2021, 10:28:56 PM
 #33

I think ETH biggest problem is GAS price. Today we paid 33.74$ GAS price for 10$ token transfer.

https://etherscan.io/tx/0xc09e5515f8f53b88b9bd4063a33ce8368f9bf0e8e86ebf4c14b86d25d874161b

What do you think, is there any possibility for ETH GAS price will stable?


You could always check out here first before making any transaction.
https://www.gasnow.org/

This is one of the problem on erc20 where gas fees is way too high but there are moments or times which gas are low.
The only option for you is to wait until the network is not congested.

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October 07, 2021, 10:33:10 PM
 #34

What do you think, is there any possibility for ETH GAS price will stable?
There's no possibility for the gas to be stable and it's being controlled by average transaction in the network. I meant network will calculate how much standard gas is for the average transactions. It will never be stable forever. Ethereum network has very small TPS compared with another new blockchain and this is the problem. The gas fees will never be going back again to the low fees. it will still remain high fees and when the price of ethereum was increasing even higher than before and this is making the gas fees is also increasing too. Ethereum developers were the only party that can fork the blocksize to help ethereum. Ethereum may not possible to be massively adopted and second layer solution was just a temporary solution but this is also stealing demand from the ethereum itself. I think that you're aware of if the second layer was not always the solution. increasing TPS should become the main target that must be achieved in the next year.

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October 07, 2021, 10:43:10 PM
 #35

I am not sure that the price of ETH will be stable or flat at a certain rate and will not be high again. Except the Ethereum 2.- has been released officially and developed significantly. So far, we have been experiencing a very hard situation when going to transfer the ERC20 tokens, it really needs high fees. We cannot see the good thing done by ETH right now.
Some months ago, the gas fee was decreased and I found it under 10 gwei. But only one month later, it changed drastically and turned into more than 50 gwei and hundreds.

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October 07, 2021, 11:56:29 PM
 #36

Wow, for me, it is a high fee. And I will commonly prefer to check and re-check again the gas fee before doing the transaction, sometimes, the gas is going down at a certain time(maybe when the transaction is a little bit decreasing).
Well, except that we need them in hurry, we don't have any choice. Moreover, if we choose the low transfer, it sometimes will take a much longer time and sometimes getting failed.

However, if asked about can the ETH gas be stable? For now, no. Because we know that the gas fee will be always changing even in only several seconds. It depends also on one of them is because of the high crowds in the transactions. The price of ETH is also really influencing to the gas fee.

R


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October 08, 2021, 01:48:56 AM
 #37

There will be no time when the gas will be stable. that's the weirdest thing that I have ever heard this time. You must understand how etherum network was working. it seems like you know nothing about the mechanism of ethereum network.
The gas will be going up or down but the saddest thing is this time ethereum fees never go down as it was getting stuck on a few dollars for a single ethereum transactions and two digits bucks for altcoin transactions. I know that small traders were feeling frustrate caused by that. This problem can be solved once miners will be approving a new proposal that lets forking the network to increase the capability of transaction per second. I m also feeling frustrate to use ERC transactions again. So many people are feeling angry caused by that. I just wanna know how long this garbage chain will not try to solve its problem. Expensive fees with long confirmation

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October 08, 2021, 02:11:46 PM
 #38

You should always check gas fee before make a transaction. You can check ETH gas fee here https://etherscan.io/gastracker.

This is the pick hour. ETH gas price is less on 4-6 Am (UTC 0). If you do the transaction at that time, you can do the transaction at a much lower fee.
You are right, depending on the time zone, you can catch the moment when the price of gas is cheaper, in my region it is earlier in the morning. A couple of times I had to get up early in the morning to send several transactions, since the prices are just crazy during the day.

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October 08, 2021, 04:23:41 PM
 #39

I think ETH biggest problem is GAS price. Today we paid 33.74$ GAS price for 10$ token transfer.

https://etherscan.io/tx/0xc09e5515f8f53b88b9bd4063a33ce8368f9bf0e8e86ebf4c14b86d25d874161b

What do you think, is there any possibility for ETH GAS price will stable?

This is nothing new and has been discussed for a long time...

Last year, what caused the gas fee to be high was because of the high transaction at Uniswap and this time what made the gas fee high is the high transaction at Opensea. If you don't want to lose a lot, then don't transact with ERC-based tokens.



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October 08, 2021, 04:34:09 PM
 #40

I think ETH biggest problem is GAS price. Today we paid 33.74$ GAS price for 10$ token transfer.

https://etherscan.io/tx/0xc09e5515f8f53b88b9bd4063a33ce8368f9bf0e8e86ebf4c14b86d25d874161b

What do you think, is there any possibility for ETH GAS price will stable?


That's why everyone are moving out of Ethereum tokens. I used ethereum blockchain only to transact ethereum, for everything else, theirs Binance smart chain and Polygon. I'm also thinking of joining avalanche and solana for games and NFTs. No one should issue a token in Ethereum chain as of now as it would make it impossible to transact. There are instances where I have some $100 dollars worth of ERC20 token but depositing some ethereum and withdrawing it would be more costly than the price of the token.

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