ETH gas fees are a joke.

[Wiwo]

Great to read this reply from you and of course I did not totally misunderstood you point in the previous comments and even at that I am glad to see that my comment drive you down to this reply where you covered a wide rang of areas including the limitation with L2 network Layer which were supposed to provide the best alternatives.

And also hope to see the lunch of your project very soon and how you develop your one chain that could possibly push down gas fees against what is mostly achievable with layer 2 networks.

[1714603981]

1714603981

[Bolivar_Tony]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

I've just converted most of my ETH to BTC, and have $0.5 left in metamask. It claims to have an "advanced gas control" when you hit Send, but it's not showing me that.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?

The thing is really frustrating just today Gas in Ethereum Goerli testnet exceeded 4000 gwei ($600) probably due to Linea testnet. if you imagine this to a mainnet then you start wonder when or how will the adoption happen
 

[ije07]

I went to Binancechain at that time to buy a few tokens after finding the gas fee on Ethereum to be abnormal but I was able to compare the gas fees that we charged when doing transactions using Metamask. I assume that the gas we need is considerably more when we use a third-party wallet because we will need a higher gas price when using Metamask than when using the online wallet offered by the Ethereum platform. We can also decide how much gas we'll need or when the transaction will be void.

[Bitcoin_Arena]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

It looks like the tables have turned, if we look at the current spam on Bitcoin blockchain. That's what Ethereum network has been dealing with since the Bull run of 2017-2018 and the problem has refused to vanish to this date

I think something needs to be done about the Ordinals or those so called BRC20 before things go awful on the oldest and most decentralized blockchain network..

[ARCADIA-OG]

And also hope to see the lunch of your project very soon and how you develop your one chain that could possibly push down gas fees against what is mostly achievable with layer 2 networks.

Thanks for your wishes. I think my solution would be a bit different because we are somewhat centralized and anchored in real assets so the dynamics are a bit different.

In most cases I would say that, if the org behind the chain could be profitable besides the token, the org should cover the fees of the TX (as in permissioned network or downright having their wallet pay it). For cases when full decentralization is not possible or required.

I plan to do just that, have a minimal tax for TX that goes to a common pool/fund that will pay up the cost of providing the chain (hardware, network, talent). For me is more valuable to offer a relatively free chain so people can learn, and play around so they can stay, bring their assets, and develop in it.

Developing a real business, you don't get to be established as a company in a "Testnet Estate", you go right in to the real deal. As @Bolivar_Tony said, even glitches and high fees on testnets can scare potential users. Days ago I was being charged ~$150 gas for minting a BSC test token in some ILO platform. $150 is probably reasonable in ETH, but BSC?

[timoshani]

My last transaction was 1.5 ETH. I had to cancel. I will not understand at all that there is Buterin with gas to joke like that. Maybe the time has come to completely abandon the first-level blockchain.

[Natalim]

My last transaction was 1.5 ETH. I had to cancel. I will not understand at all that there is Buterin with gas to joke like that. Maybe the time has come to completely abandon the first-level blockchain.

We really got hit the heavy network congestion and it was disappointing to see the huge fees. I'd see that it was impossible for small investors to buy and more their money in this situation. For now, nothing to do but to check regularly the chart fees and wait until it goes back to low fees. Honestly, the entire market is been suffering huge fees which include Bitcoin as well. I've been looking for another option but it was hopeless, we can't any other than just wait to calm down.  I think we are urged to hold because of this situation...

[Desmong]

the only way it goes lower is wait for a day where transaction is low.
what acitivity push eth gas high anyway? market is bearish

I just don't know now why the transaction fee of many coin are desperately increasing with a reason that is so annoying. Take a look at Bitcoin that we all think will spear us but now the gas fee is just like Ethereum. I hope all these high gas fee would reduce with time especially for Ethereum and Bitcoin that had suddenly been increase. I have to pay $7 to transfer $11 in Bitcoin...so annoying.

[Abiky]

It looks like the tables have turned, if we look at the current spam on Bitcoin blockchain. That's what Ethereum network has been dealing with since the Bull run of 2017-2018 and the problem has refused to vanish to this date

I think something needs to be done about the Ordinals or those so called BRC20 before things go awful on the oldest and most decentralized blockchain network..

That's the problem with NFTs and "meme" coins. They often clog the network as people hunt these digital assets like crazy with the hopes of becoming rich quick. That, and also the fact that scammers flood the Blockchain with worthless "meme" coins for their own personal benefit. It all started with ETH, and now it has ended with BTC. Don't expect fees to decline anytime soon unless this craze is over (which I doubt it'll ever be over).

Developers need to act fast before it's too late. High network fees prevents the average person from getting onboard. They only benefit validators and whales alike. If Blockchain is all about equality and decentralization, then ETH must increase its network capacity to fulfill this. Otherwise, it would become no different than the traditional banking system where the rich get richer, and the poor, poorer. Maybe there will be brighter days ahead for ETH? Just my thoughts

[RussianEnglishTranslation]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

I've just converted most of my ETH to BTC, and have $0.5 left in metamask. It claims to have an "advanced gas control" when you hit Send, but it's not showing me that.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?

Q Blockchain fixes this. It has reverse gas fees so you never need to worry about gas fees after you initially deposit some Q. Gas fees are redistributed to holders instead of strictly going to validators like other chains.

[woez]

I think it's become a classic story for eth gas costs especially during periods of high demand, and it causes frustration and concern about the viability of the network in the long term. what is a question mark now is that many platforms are suspending payments especially at this time. I'm also confused about why it can be delayed, oh, there are those who use the App Trust Wallet here in making transactions, please see if I'm right.!!

[Boomber]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

I've just converted most of my ETH to BTC, and have $0.5 left in metamask. It claims to have an "advanced gas control" when you hit Send, but it's not showing me that.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?

there is no way to reduce gas fees from ETH, because indeed gas fees from ETH are very expensive, but of course transactions using blockchain from ETH are very fast and even then I'm still too lazy to use blockchain from ETH, because in my opinion the gas fees are very expensive and doesn't suit me, that's why I always use blockchain from BSC or Matic.

[Teraboy]

the only way it goes lower is wait for a day where transaction is low.
what acitivity push eth gas high anyway? market is bearish

there are many meme coins and airdrops claiming, which gonna push the activity more over there are also NFT, added with the fact that the sequencer of l2 are also keep on submitting their transaction on eth blockchain, there are so many activities in ethereum despite market being relatively bearish.

[Psynthax]

My last transaction was 1.5 ETH. I had to cancel. I will not understand at all that there is Buterin with gas to joke like that. Maybe the time has come to completely abandon the first-level blockchain.

We really got hit the heavy network congestion and it was disappointing to see the huge fees. I'd see that it was impossible for small investors to buy and more their money in this situation. For now, nothing to do but to check regularly the chart fees and wait until it goes back to low fees. Honestly, the entire market is been suffering huge fees which include Bitcoin as well. I've been looking for another option but it was hopeless, we can't any other than just wait to calm down.  I think we are urged to hold because of this situation...

seems like common case is if the blockchain has becoming big and congested enough it will surely face scalability issues, the problem needs to be solved fundamentally, even layer 2 right now aren't better either, they requires massive fee unlike before, it's again coming back to the scalability issues.

[Abiky]

Q Blockchain fixes this. It has reverse gas fees so you never need to worry about gas fees after you initially deposit some Q. Gas fees are redistributed to holders instead of strictly going to validators like other chains.

Never heard of it. But actually giving users a "rebate" for every gas fee paid, sounds like a good idea to me. Why not even remove network fees altogether? TRX, EOS, STEEM, and NANO have zero fees which makes them useful for "De-Fi". There's even a new Blockchain network called "ThunderCore" with near-instant transaction processing times.

With many options available on the market, high gas fees would only become a thing of the past. ETH won't stay expensive forever anyways, so sit tight and wait as the best is yet to come. Who knows if a sudden decline in network fees will boost mainstream adoption for ETH like never before? Just my thoughts

[Web$$$]

When I make these investments, I only spend time with losses.  The sad thing is that when I invest in an altcoin, the coin only goes down in price instead of growing.  A long time ago I had a few dollars with which I bought the Matic so that it would make some profit if the price went up later.  But unfortunately, bro, what should I say, since I bought it, the price has not increased even a little, only the market has gone down.  When I bought Matic it was at $1.32 I thought the market was down a lot and would go up a little but then it didn't.  So I have been spending time with that loss for several months. I ask for prayers from all the brothers of the form so that my loss is recovered.  If I had bought all the bitcoins instead of buying Matic with the amount of bitcoins I invested, I would have made a lot of profit with all the dollars.  But the sad thing is that I bought the Matic with a few dollars to trade in and now it's hard to get my shipment back.

[jacafbiz]

The concern to me is why are these L2 platforms Polygon, Arbitrum, Optimism and ZK were all hyped as the solutions to this stupid transaction and gas fees projects are just using them to mine Airdrops and refuse to deploy projects on them. I just don't understand why someone would pay $120 transaction fees to trade a token of $80 value, maybe some of these retailers don't check the transaction fees at all before they execute trade, I can argue that Ethereum is making retailers poorer than any of the Alternate chains. If your portfolio is less than $100k don't use Ethereum.

[panganib999]

it's been a long time since Gas Fees on Ethereum are very expensive and very joking,
I'm really surprised even though Ethereum has also gone through many big events like Ethereum 2.0 and Ethereum Shanghai,
but they really can't make Gas smaller, I really disappointed.

To be fair, AFAIK the changes in its consensus mechanisms aren’t supposed to make the transactions within the network cheaper or faster (which honestly bugs me cause why the fuck would you change to a much inferior consensus mechanism than POW if there’s no upsides), so you  can’t really count those changes as “quality of life” updates that you can rely on. I think as long as crypto’s a thing dizzying gas fees during high volume periods is going to be a problem that we’ll have to face. Just last week I withdrew my BTC, which is around 20 bucks, due to the issue with bitcoin’s transaction processing I only got 7 bucks back from that and I even had to wait 4 days for the transaction to push through. Absurd times but I guess we’ll have to deal with it as long as we’re here.

[DeathAngel]

It’s very frustrating but meme coin season peaked & seems to be phasing out. The issue with bitcoin fees due to ordinals & BRC20 spam has also seemingly peaked.

We should see gas fees really plummet soon. I hope to see them slashed to at least 50% of what they currently are in the coming months.

[mdzahed134]

My last transaction was 1.5 ETH. I had to cancel. I will not understand at all that there is Buterin with gas to joke like that. Maybe the time has come to completely abandon the first-level blockchain.

We really got hit the heavy network congestion and it was disappointing to see the huge fees. I'd see that it was impossible for small investors to buy and more their money in this situation. For now, nothing to do but to check regularly the chart fees and wait until it goes back to low fees. Honestly, the entire market is been suffering huge fees which include Bitcoin as well. I've been looking for another option but it was hopeless, we can't any other than just wait to calm down.  I think we are urged to hold because of this situation...

Now most of the project deployed in the multi chain so i think small traders have another option to buy/sell, specially i don’t use Etherum when it’s gas fees is crazy.  BSC can be good option for the small traders, i am using this network after i left from Eth network. I will never back in eth until it’s gas fees will decrease.