Gas fee on ethereum

[Daiana]

ah thanks for that clarification!!

[yhiaali3]

Thanks for all of the replies! I have metamask, didn't even know that it was a good wallet for getting lower fees. Any specific settings I need to do?

For MetaMask, there are no specific settings to reduce the fees, only when sending the transaction. You can determine the fees by specifying the gwei value of the Ethereum fee gas. The lower this value is, the lower the fees will be.

But of course, you must be aware that reducing these fees will lead to a decrease in speed or an increase in the transaction time, which may take a long time if the fees are very low.

[Daiana]

Gas fees are super low right now! I just made a couple of transactions and the fee that started with 100 dollars when I started this thread was down to 15 dollars today!

[dkbit98]

It is surprising to see fees on ethereum are currently lower than on bitcoin, maybe because same people who are messing around with nft and runes now moved from ethereum to bitcoin.
If you plan to move around some tokens and stable coins and make transactions on ethereum blockchain than this is the right time to do it.

[Vx1]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

Thanks!!

Just as cryptocurrency coin prices fluctuate, Ethereum transaction gas fees also do. Sometimes it's high, sometimes it's low, but because of the dense activity on the Ethereum Blockchain, many people increase transaction fees so that their activity is quickly confirmed. 
This is why Gas prices on the Ethereum network continue to be high, there is no other way to get cheap Gas fees except to wait for them to go down. 
But sometimes it takes a very long time!

[bitmover]

It is surprising to see fees on ethereum are currently lower than on bitcoin, maybe because same people who are messing around with nft and runes now moved from ethereum to bitcoin.
If you plan to move around some tokens and stable coins and make transactions on ethereum blockchain than this is the right time to do it.

Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again

[PX-Z]

Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again

The question is when, although the devs have planned about that, but i find nothing about the dates. I would better it could be done sooner or else we will soar this huge fees for several days, it's worst.

[bitmover]

Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again

The question is when, although the devs have planned about that, but i find nothing about the dates. I would better it could be done sooner or else we will soar this huge fees for several days, it's worst.

I think this is not just devs dependant.

Even without any update in bitcoin protocol, these people just ran out of money in the past. We had seen spikes of 500 sat/vB before, and after a few weeks things were back to 30sat vB. Fees are already coming down again.

But I agree that we should have some update in the protocol to avoid this secondary usage of the blockchain.

[MrSpasybo]

I think this is not just devs dependant.

Even without any update in bitcoin protocol, these people just ran out of money in the past. We had seen spikes of 500 sat/vB before, and after a few weeks things were back to 30sat vB. Fees are already coming down again.

But I agree that we should have some update in the protocol to avoid this secondary usage of the blockchain.

I don't think the Bitcoin miner community would agree to the removal of the Inscription update as it could be a useful feature in the future and it is providing them with income after the block reward has been halved. The same thing happened in the block size war in 2017: the community chose the path that would benefit overall development, including the long-term interests of miners.

Regarding Ethereum: Layer-2 has become a fairly effective solution but it will not replace Ethereum Layer-1. It's a shame that sharding was removed, we don't have any information about the next update to improve Layer-1 speed, so Layer-1 transaction fees will continue to rise during bullruns. Currently, the cost of transferring ETH is acceptable, around 8-10 gwei ~ $0.5 - 0.7, but swap fees are still quite expensive compared to other blockchains. All users can do is switch to using Layer-2 like Arbitrum or Base

[dkbit98]

Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again

It's not just ordinals that are creating very high fees, and 30 satvB is not exactly low fees either.
I think miners will try to increase their profit with higher fees, and there is clearly ''someone'' with money printing machine who can always spam the network.
Recently there was similar spam attack for monero, so it's not only happening with bitcoin.

[Blaze]

Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again

Transaction fees after the halving occurred increased very sharply, this is indeed a fairly high increase in gas fees throughout the history of bitcoin. But as time goes by, gas costs have started to fall gradually.

[Wiseman]

n fees after the halving occurred increased very sharply, this is indeed a fairly high increase in gas fees throughout the history of bitcoin. But as time goes by, gas costs have started to fall gradually.

If you haven’t noticed, this thread is not about Bitcoin at all, we are talking about Ethereum here and about what kind of transactions there are in Ethereum, they are in Bitcoin, even though you are right that on Bitcoin now there are very expensive commissions, I advise you to write about this next time, rarely about Bitcoin .

[EthereumDev_]

n fees after the halving occurred increased very sharply, this is indeed a fairly high increase in gas fees throughout the history of bitcoin. But as time goes by, gas costs have started to fall gradually.

If you haven’t noticed, this thread is not about Bitcoin at all, we are talking about Ethereum here and about what kind of transaction
Yes, it's true that this thread discusses Ethereum, but perhaps what is meant is that the movement of gas fees depends on price movements and bitcoin transaction conditions. As long as Bitcoin has high enough gas fees, it will make many traders carry out transactions using altcoins, including Ethereum, so it will create gas fees. Ethereum is increasing as well because transactions on the Ethereum network are becoming congested.

[vegasus]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

The gas fee will always change in size, depending on the current condition of the network. By default, the number of devices that must be purchased for transfer can be checked on the following site:
https://etherscan.io/gastracker

That's about 11 gwei at the moment and maybe we could say that it's quite small. But yes, we do have to regularly check the gas tracker so we know when the estimated gas fee will go down, it won't be that high anymore. Because it really depends on the crowd level of the network.

But in fact, the amount of gas fees on the Ethereum network is currently not as high as before. And currently, it is Bitcoin transfer fees that are increasing like crazy and very drastically.

[TopT3ns]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

The gas fee will always change in size, depending on the current condition of the network. By default, the number of devices that must be purchased for transfer can be checked on the following site:
https://etherscan.io/gastracker

That's about 11 gwei at the moment and maybe we could say that it's quite small. But yes, we do have to regularly check the gas tracker so we know when the estimated gas fee will go down, it won't be that high anymore. Because it really depends on the crowd level of the network.

But in fact, the amount of gas fees on the Ethereum network is currently not as high as before. And currently, it is Bitcoin transfer fees that are increasing like crazy and very drastically.

Currently, ethereum gas has dropped to 6 Gwei and this is a fairly low transaction fee for ethereum. Maybe because market conditions are not good, this ultimately reduces ethereum transactions and makes ethereum transaction fees as cheap as they are now.