Oilacris
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May 11, 2023, 09:59:11 PM |
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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Getting tired? Its not shocking, even myself had long time gone on leaving that Erc20 based transactions which fees arent something that justifiable or something that worth.This is why even i do see some worthy coins to invest on this network or blockchain. The main thing that hinders me is about on the fees. We know that buy and sell does really take a huge slice on your overall amount which you could really be able to feel out on every transaction. LOL Dont know on how Vitalik would really be able to solve it out. We've been through several updates on ETH and i did presume that it was just intended for the sake of fee reduction but it seems there's nothing happened after those things but the fact, it did becomes even more worst. This is why i did skip out into this network and focusing out on BSC or even on SOL instead.
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AmoreJaz
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May 11, 2023, 10:03:38 PM |
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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Getting tired? Its not shocking, even myself had long time gone on leaving that Erc20 based transactions which fees arent something that justifiable or something that worth.This is why even i do see some worthy coins to invest on this network or blockchain. The main thing that hinders me is about on the fees. We know that buy and sell does really take a huge slice on your overall amount which you could really be able to feel out on every transaction. LOL Dont know on how Vitalik would really be able to solve it out. We've been through several updates on ETH and i did presume that it was just intended for the sake of fee reduction but it seems there's nothing happened after those things but the fact, it did becomes even more worst. This is why i did skip out into this network and focusing out on BSC or even on SOL instead. the problem was long overdue already. so if you can't afford such stress, leave the network and find another network suitable to your needs. you can't dictate them on what to do because basically we are all just customer waiting for the improvement of the network. if we can't handle such fees, better move on. this is why other networks are getting their popularity owed to cheaper fees. take advantage of it rather than complaining to what you can't control.
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bittick
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May 11, 2023, 10:14:06 PM |
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ethereum gas fee is beyond saving, even the layer 2 just makes it worse, if you are waiting until ethereum gas fee decreasing to the point it make sense like around a dollar then wait the next decade maybe they will come up with new solution but for now, that's just a distant dream.
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irsykes
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May 11, 2023, 10:22:20 PM |
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I think the airdrop trend for the ethereum network is making costs more expensive and difficult to move because of the dense number of users making transactions. many people are pursuing bridge requirements, swap terms with this ethereum network more and more people are complaining because of the slowness of the network. if the ethereum network airdrop potential continues to exist, it may take a long time for fees to return to normal
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LastKiss
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May 11, 2023, 10:35:52 PM |
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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
You can always use another altcoin depending on what you're using with that altcoin, there are a lot of alternatives like BNB, TRON, etc. which will have lower fees compared to Ethereum. If you insist on using Ethereum because have a special reason then wait until there are not many transactions in the Ethereum chain and you will see lower fees if that happens.
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WalkerIVIV
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May 11, 2023, 10:58:12 PM |
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just send your ethereum into an exchange that supports some of the second layer and then use that second layer, that way you don't need to execute some smart contract code which highly decrease your fee required and then you can just settle with layer 2, they usually could save up to $200 for fee alone.
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lobo13hf
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May 11, 2023, 11:07:15 PM |
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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
You can always use another altcoin depending on what you're using with that altcoin, there are a lot of alternatives like BNB, TRON, etc. which will have lower fees compared to Ethereum. If you insist on using Ethereum because have a special reason then wait until there are not many transactions in the Ethereum chain and you will see lower fees if that happens. this only if the token is also deployed in other altcoin which majority are not, considering the fact that most of the token that's become popular are in ethereum, I doubt anyone would simply switch over blockchain.
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Psynthax
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May 11, 2023, 11:57:12 PM |
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so long there is airdrops going in ethereum blockchain the fee will not be spared, it will just always like this, there was proposal in regard of solving the fee but i'm sure that this just not gonna help, the ethereum at this point i think has reached its peak scalability, it's like what binance founder said, blockchain for the rich, and that's true since swapping requires gas fee as high as $50 which is mad.
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shinratensei_
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May 12, 2023, 12:24:00 AM |
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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
it's not only due to Defi and NFT there are many factors out there and that included the emergence of newest layer 2 blockchain that also submit their batch transaction in ethereum blockchain. moreover many airdrops claiming right now are requiring smart contract interaction unlike before where they just outright airdrops to some address but nowadays one need to interact first to get the airdrops they deserved which only means more congestion to the blockchain. there are many ways to increase efficiency in interacting with blockchain but many are still prefer some gimmicks so i'm sure this problem will be left unresolved for many years to come, that unless the developers of ethereum comes up with miraculous solution.
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poodle63
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May 12, 2023, 02:00:01 AM |
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l2 was the reason why ethereum fees surged a lot. The hype of meme token is also making it even worst. I can only suggest you to avoid ethereum blockchain when it's still congested at this moment. There's no definite time about when it will be going back to the normal again.
I just avoid to deal with any tokens or NFT that will be using ethereum blockchain as for now.
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Luffygroove
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May 12, 2023, 04:10:30 AM |
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Where have you been, buddy? Why just now? I've been sick to my stomach since the beginning of all of this congestion. If I remember right, this started to happen when DeFi became more popular, and then NFT, and then $PEPE and so on and so forth, until now there's been no significant solution whatsoever. The smart contract of Ethereum will be all-mighty if it comes with the solution of scalability. I just do transactions in Eth when it's worth it, so I always check the result with the gas fee in the Eth gas tracker first before executing any transaction. This gas fee issue is really giving me a headache, right? We need an exact solution ASAP.
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rhodelmabanal
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May 12, 2023, 06:38:37 AM |
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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Everybody is tired of the high gas fee of the ethereum network that is why most of the investors specially the small investors trying to find a good tokens or coins that can run on polygon,ethereum or bnb network chain, if we buy small amount of token then the gas fee is higher than the amount of token that we buy we are just like doing a very in appropriate moves the best option is token that can run on different network.
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raidarksword
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May 12, 2023, 08:32:37 AM |
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High fees on Ethereum network is very old problem ever since its due because many are using the network that's why it's getting more congested especially MEME tokens is highly on demand and everyone wants to have piece of it. Even on bitcoin network is congested because of the BRC20 trends, busy network means many are using it.
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Kelvinid
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win lambo...
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May 12, 2023, 09:02:39 AM |
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Perhaps, it happens several times which is why we need to anticipate this possible market event. Sad to say OP but we need to understand the situation right now. We never have to stress ourselves because that is possible to happen. While thinking about the high fees OP, might look for an alternative or way to move your ETH to a lower fee, or you have to hold and wait for the fees to drop.
Well, it is time for us to learn to hold I guess. And honestly, this urges some people to hold their ERC20 tokens and this will even help to lessen network congestion.
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Rampagoe004
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May 12, 2023, 02:33:25 PM |
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I prefer BNB for now. Indeed the high Fees on the Ethereum network are a problem for me doing small transactions. Therefore I think BNB is the best right now. But that doesn't mean we have to switch from ETH because there are indeed many projects running on the ETH network and that (high fees) remains a problem that needs a solution.
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bitcub
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May 12, 2023, 02:40:06 PM |
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Why not try other crypto like XRP or MATIC. ETH gas is really a pain in my $azz The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
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iphone5s
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May 12, 2023, 05:31:35 PM |
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I prefer BNB for now. Indeed the high Fees on the Ethereum network are a problem for me doing small transactions. Therefore I think BNB is the best right now. But that doesn't mean we have to switch from ETH because there are indeed many projects running on the ETH network and that (high fees) remains a problem that needs a solution.
The two coins are not the best choice, if you can choose to take action by investing in BNB and ETH so much the better. you can analyze a lot from the two virtual currencies. if you talk about large gas costs you should be taught not to cash out in the near future on the coins you have.
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abel1337
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May 12, 2023, 06:45:57 PM |
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I prefer BNB for now. Indeed the high Fees on the Ethereum network are a problem for me doing small transactions. Therefore I think BNB is the best right now. But that doesn't mean we have to switch from ETH because there are indeed many projects running on the ETH network and that (high fees) remains a problem that needs a solution.
The two coins are not the best choice, if you can choose to take action by investing in BNB and ETH so much the better. you can analyze a lot from the two virtual currencies. if you talk about large gas costs you should be taught not to cash out in the near future on the coins you have. BNB gas fees are way far than ETH gas fees. I don't see the sense of not cashing out in the future. Even if ETH gas is ridiculously high, there are many reason why people are transacting on ethereum and majority of them are by earning profit more than the gas fees they have paid. Though there are instances that these gas fees are the one who blocks us in doing transactions because most of the time it's not worthy paying the high gas fees. I have ETH in my wallet but I treat it as an investment but if there's a point that I can get a massive profit from my investment, I won't be bothered by the high fees as long as I get the profit that I want. But yeah, cheap and fast alternatives are better.
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trendcoin
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May 12, 2023, 11:57:03 PM |
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The entire cryptocurrency community has been making negative comments about Ethereum for similar reasons for a very long time, but Ethereum developers who prioritize security have so far failed to do better than this. I think use other coins or use Layer 2 coins. Ethereum will continue to serve with these problems for now. Maybe one day, it will be able to provide fast and cheap money transfer as well as safe, but for now it does not have the qualifications to do so.
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TastyChillySauce00
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May 13, 2023, 03:49:54 AM |
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High fees on Ethereum network is very old problem ever since its due because many are using the network that's why it's getting more congested especially MEME tokens is highly on demand and everyone wants to have piece of it. Even on bitcoin network is congested because of the BRC20 trends, busy network means many are using it.
Meme tokens were triggering so many transctions to happen in once time. There are also bulk transactions that were coming from L2 who have been bridging to the L1 at the same time. It's making it even looks crazier than before. I would say that if there will be more L2 and meme token trend again and it will able to destroy ethereum. I can say that anyone is trying so hard to make sure if they can get profit from meme token.
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