Why Gas Fee is too High?

[TimeTeller]

Values of ETH quite literally multiplied from its value few years ago and the average eth gas increasing because literally so many eth enthusiast out there trying out NFT, the ETH platform is quite literally full of NFT right as of now.
if you are kinda tired of using ETH simply switch over in the second layer solution like BSC and matic, they are literally the same with some quality projects

of course there are various reasons caused this other than NFT but there are just too many reasons that thinking of it just wasn’t worth of your time, instead by using the other platform you could just literally doesn’t care in regards of fee unlike in ETh.
This time the gas price is so cheap unlike what you have said if that's so expensive.

The long-running issues in gas fees is the main reason of the rise of new networks like BSC, SOL or MATIC.
If you can't bear the burden of paying those fees, find a way how to utilize these new chains as they have cheaper fees.
A lot of ETH tokens are also switching to these networks because their users can't bear the fees involve under ETH.

[sheenshane]

Yesterday I saw on the speculation altcoin board Why is Ethereum fees going down in this days?, he said obviously the ethereum fee is down, I wasn't there to review the situation but according to yesterday's data to today increased almost 2x. The increase today is due to the dense network, as usual when the gas went down yesterday there will be a lot of transactions too.

You quoted a wrong thread but anyway it seems this topic was on the altcoins speculation board.

Yesterday I was able to transfer my token on an exchange that I patiently wait for when the gas fee will be low and I can able to transfer it with a $4 dollar balance which is before you can't.  The gas fee of Ethereum or any altcoins seems like the price, it's also fluctuating due to the market congestion.
So there's no way to guess when it will increase the gas or decrease.

Just check it always here to monitor the gas fee, https://etherscan.io/gastracker.

[xzone]

After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.

With this, I'm able to express my feelings.

For the ETH network it is indeed very expensive for now, in fact almost many people avoid transactions on this network, even the latest ETH development also has a very high cost if we use it, for now many people are switching to BSC, because in this network the cost is still very cheap and can be reached by anyone, but if asked why the cost is expensive, it will be difficult to explain, because network development is very different in determining the cost

Now there are many networks with low fees, people can choose one of them. but there are also cases where you have to use ethereum. I do not find it right to transact over this network unless I have to. Instead of paying such a high fee, you can invest in other things

[AnisahSiti]

It's better to use the BSC network, the ETH network is very congested so the gas fee becomes expensive. If you intend to make transactions, it is better to use the BSC or TRC networks which tend to be cheaper and faster.

[asyakashi]

I think it's because we only trade with small values so there's a bad feeling every time we use it.
even if have to pay that for a high security fee i think it's something unreasonable and i'm sure we won't feel comfortable with that.
I guess the best way would be to move the network from the ethereum network to a cheaper network like SOL or BSC.
it looks reasonable because it costs less and makes us comfortable.

[LogitechMouse]

After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.

With this, I'm able to express my feelings.

This problem of Ethereum exists for a long time already and until now, there are still no signs that fees of Ethereum will go lower.
We are at the point already where we are seeing alternatives to Ethereum Blockchain such as Binance Smartchain, Solana, Cardano etc.

It would be better if you will just focus on projects that are not under Ethereum Blockchain especially if you are just an average investors and doesn't have a lot of money but if you are a rich investor then maybe you can try investing into them. Its the network congestion that causes this high gas fees.

[Beparanf]

I think it's because we only trade with small values so there's a bad feeling every time we use it.
even if have to pay that for a high security fee i think it's something unreasonable and i'm sure we won't feel comfortable with that.
I guess the best way would be to move the network from the ethereum network to a cheaper network like SOL or BSC.
it looks reasonable because it costs less and makes us comfortable.

It's not about the amount that you are trading but simply Ethereum network is in demand to crypto investors since there's a lot of big Dapps and NFT that choose to start there that offers a lot of big profit to the early investors. If you will remember, Most of DEX airdrop that bring massive free money and NFT collections that grows skyrocket the price always start in ethereum before they implement a multiple blockchain support. With this huge potential profit, Many investor still choose Eth network despite being high fee and this makes Ethereum network always busy and cause the high fee.

[kaya11]

After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.

With this, I'm able to express my feelings.

You should've asked more info about eth gas. We are having same issues, unless you chose alternatives like switching to BSC smart chain. This is just the beginning if Eth keeps on delaying PoS, the gas would be more higher because projects on eth networks keeps on coming, getting busier than ever. As for me, I am currently mining eth and this is somehow good, the more loaded the network is the more shares I get.

[ZaMRoneY]

After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.

With this, I'm able to express my feelings.

I guess it all comes down to supply and demand. If there's too much demand and only enough technology to handle it we get to raise the price. But i'm actually really curious to know from you guys as well why do ETH prices go up like that even tho there is no physical product. To be honest i'm not fan of Eth gas prices and tend to use other networks to carry out my payments for instance $ENGN which is a gaming studio project that simply put does it all. They got a new game around the corner built on Unreal engine , they got their own marketplace to buy/sell/trade other coins and they got a marvelous blockchain implementing system that allows developers to implement blockchain technology onto projects that have non, without needing to rewrite the whole base code and waste so much of the precious time. We all know time in crypto goes 10x faster. Also i'm really into #Lunafi which is built on Polygon network, it's a gambling protocol in which you can provide liquidity to the house and get rewarded annually plus every time someone places a bet on their platform. These are the two projects i'm using to escape the hard reality of ETH gas prices, really eager to hear what you guys think why the ETH gas prices are plummeting to the sky while the price of eth is still down

[bitgolden]

After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.

With this, I'm able to express my feelings.

Honestly people will give all kinds of technical answers but it comes down to market and nothing more. Miners are greedy and want more and they could get it, and people are willing to pay for it and that is why it is high. If miners wanted to, they could drop it, or if people declined to pay, miners would fight to get the money given so the price would fall as well.

So, it is market decided and that is, there is really nothing else going on right now and that's all. I agree that it should have been a bit better and should have been cheaper. But for that to happen, people need to stop paying for high gas fees, if we keep paying these prices, then it will stay like this.

[raidarksword]

Gas fees was around 13 gwei last few days and it's the lowest fees I have seen. Since the start of bitcoin rally gas went up pretty fast though. ETH fees are just unbelievable that's why many project already switched to faster and cheaper blockchain and we cannot blame them also.

[omone1]

I don't trade under ethereum blockchain anymore except I need to sell a token trading only on uniswap or transfer out my token from the system. When gas fee is almost equal to trading capital, then it becomes uninteresting. I await ETH2.0 a switch from POW to POS, until then, let me enjoy other layer1.

[ItsNotSean]

Gas fees was around 13 gwei last few days and it's the lowest fees I have seen. Since the start of bitcoin rally gas went up pretty fast though. ETH fees are just unbelievable that's why many project already switched to faster and cheaper blockchain and we cannot blame them also.

Has never been a better time to head over to SwapSpace and get out of all those ERC-20 tokens you naively picked up years ago when gas fees were not even a consideration in Cryptocurrency investing.

If you trade at 12AM-5AM EST US you can set fees even lower than 13 and still get in a block.

I swapped an ERC-20 token worth around $800 the other day for ~$2 in gas fees. Compared to the $100 it was going to cost me 6 months ago, that's great.

But had I traded it back then I would have been able to trade it for $2,000... I didn't trade it then because of the high gas fees.

But I did save on the gas fee. So I had that going for me...

[molsewid]

Using it is not because of different needs, there are indeed some cases for bounty hunters to have to use the ethereum network, it is because the project they are involved in uses the network, thus forcing bounty hunters to use it, but if given the choice almost everyone will switch to another network, because the network ethereum requires a very large fee, so it is not balanced with the income we receive

Yes exactly, actually, me either I don't want to deal with high gas fees and I hate it but sometimes there is no other choice because in my other transactions I don't have any other choice but to use ERC-20 and damn the gas fee of Ethereum are really hurting my pocket. I just hope that this high gas fees main concern of many bounty hunters and traders will be highly prioritized by the ETH web dev and team because this could be one of the reason of losing them people who will use ERC-20.

[xzone]

Using it is not because of different needs, there are indeed some cases for bounty hunters to have to use the ethereum network, it is because the project they are involved in uses the network, thus forcing bounty hunters to use it, but if given the choice almost everyone will switch to another network, because the network ethereum requires a very large fee, so it is not balanced with the income we receive

The project that a bounty hunter will choose to monetize should not currently be on the Ethereum network. We don't see as many bounties as before, and the amount of rewards is pretty low. The amount paid for the fee can be more than the reward, so if I were to choose a project, I would choose networks that are in the BSC network or that require a similar low fee. If the Fee is high, there is no need to waste time

[oHnK]

The condition of the Etherium network gas fee, which is always high, is enough to irritate users, even like me, who uses the network for routine transactions, must accumulate balances so that only one fee is charged, this condition is much different when using the BSC network as you mentioned. They create competitive market conditions between users of ETH, BSC and other networks. But instead of being so upset, it's better to choose BSC.

[kojektea]

Becoming a bounty manager is not an easy thing, sometimes we need a team to make our work fast
to manage multiple campaigns because it is impossible to do it yourself quickly.
Bounty managers will continue to be in demand as long as there are cryptocurrency projects that always
 want to promote with bounties, if you want to become a bounty manager of course you can try it.
But the initial manager pay is of course usually small unless you have a lot of experience in bounty managers.

[Bitstar_coin]

I never understood why people still use ETH as there the fees are insane. It was suppose to be a cheaper alternative to BTC but it turned out that it's even worse in scaling and fees skyrocketed. Aside of Bitcoin , until now I see no other better chain alternative to ETH then Binance BSC.
We'll see what will happen after the PoW is replaced, but then the whales will play a big role.

It is not that easy to completely stop using eth when you still have some erc20 in your wallets, and some of these tokens don't support other chains yet, hence you will be left with no choice than to use gas anytime you want to trade such tokens. i have some erc20 am not able to trade because of high gas fees, for now i will keep holding them until when the gas fees has reduce (hopefully it will).
BSC came at the time an alternative was needed, the situation with eth high gas was difficult for investors.

[Kelvinid]

It is normal to see why people keep asking why the ETH gas fee is high. Not a new issue for those who come earlier before 2018. We indeed hear a lot of possible right answers, however, we wanted to hear the truth behind this from ETH creator Vitalik.

Crypto billionaire Vitalik Buterin has suggested a new short-term solution to curb soaring gas prices on the Ethereum network. The solution involves a new network upgrade that reduces the transaction calldata cost as well as limits the total transaction call data in a single block.

Surging gas fee prices on Ethereum have constantly plagued the network where investors have been paying a very high transactional gas fee to execute a crypto transaction on the network. The explosive surge in gas fee prices has prompted many users to migrate to other cost-effective blockchain networks and has compelled many investors to ditch the network indefinitely.

https://cryptoslate.com/ethereum-founder-vitalik-buterin-proposes-fix-for-high-gas-fees/

Maybe they are working on this issue but for many years have been passed, I don't think there is something we have to expect from them. They are supposed to look for a long-term solution, not short-term, otherwise.

[henmark]

It's not about the amount that you are trading but simply Ethereum network is in demand to crypto investors since there's a lot of big Dapps and NFT that choose to start there that offers a lot of big profit to the early investors. If you will remember, Most of DEX airdrop that bring massive free money and NFT collections that grows skyrocket the price always start in ethereum before they implement a multiple blockchain support. With this huge potential profit, Many investor still choose Eth network despite being high fee and this makes Ethereum network always busy and cause the high fee.

That is the reason why it is still getting all those interests. I mean it is clear to everyone that we are talking about a place that barely gets any attention of itself, but to the projects in its chain. Nobody really buys ETH just to buy ETH, let's not say nobody but not this much, and the gas fee would be so much smaller if it was just investors.

What happens is that there are tons of projects in ERC20 and similar networks, and that causes the gas fee to be high because people end up doing a ton of stuff in there. If we want to see it go down, newer projects should be in other chains but most of them are afraid you won't look at them. This is what happened to tron for example.