Expensive Transaction fees in Both Bitcoin and Ethereum are sign of failure!

[nicecrypto]

As a beginner in crypto, I can't afford to pay huge transaction fees so I stick with the exchanges that doesn't cost much for a transaction.
I also believe there are people out there who thinks this is exploitation of users. The earlier they work on reducing the gas fees the better.

Trust me this is not only an issue to a beginner in crypto even the veterans in crypto trading see this high fees as a failure to the ethereum  network which needs urgent attention but this don't seems to come through for the main time. Though Crypto projects might have issues every now and then but it is the ability and the quickness to resolving this issues that matters and give investors the confidence to continue hanging with you. 

[Prime]

The increase in transaction fees is caused by many transactions happen. Instead, it is a sign that more people are joining in crypto trading or investment nowadays. I can say that currently there are more people starting to have their new journey in the crypto business. But unfortunately, the impact is the increase in transaction fees.

[Lanirex]

The increase in transaction fees is caused by many transactions happen. Instead, it is a sign that more people are joining in crypto trading or investment nowadays. I can say that currently there are more people starting to have their new journey in the crypto business. But unfortunately, the impact is the increase in transaction fees.

But actually Bitcoin was created as a Fiat currency solution with many advantages when compared to Fiat.  If more and more people transact in Bitcoin and the fees are higher it means Bitcoin has really failed.  Let's look at FIAT, no matter how many people make transactions, the costs are still there.

[Senin]

I do not consider the current situation with expensive transactions on the bitcoin and ethereum networks as a sign of their failure. These were the first cryptocurrencies, and at first their throughput in terms of the number of transactions was not designed for such a high demand. The main thing is that each cryptocurrency is updated on time and eliminates deficiencies in accordance with the requirements of the time. The ethereum network, albeit with a delay, is now being radically updated and this problem is already being solved, and after August 4, after the London hard fork, it should go away completely. However, we see that in the bitcoin network as a whole, this problem has not yet been solved.

[Alcor]

Yes, the current high transaction fees on the Bitcoin and ethereum networks are not signs of failure. At the time, they were much smaller because there weren't so many transactions and so much competition. This can only be regarded as a sign of lagging behind other cryptocurrencies, which are ahead of the first cryptocurrencies in terms of functional indicators. Each cryptocurrency must be updated on time and be competitive, otherwise it will lose its previous positions. This also applies to bitcoin, which has big problems in this regard, and they seem to only increase over time.

[Cleanerbd]

I transact with Ethereum, but it didn't take long. However, Ethereum transactions are fast. Ethereum may not be able to absorb quickly from where you took it. Ethereum's gas fees are high, but transactions are not that slow.

[superminesweeper]

The higher the fee, the more people invest for the long term

[Senin]

No, today this is only a sign of network congestion. Bitcoin and ethereum were the first cryptocurrencies and then there were not so many participants in this market, and therefore high scalability was not required. To solve the problem,  need to update, as the ethereum team does with the Ethereum 2.0 update. But the problem in the bitcoin network, it seems, will remain for now.

[yawar20]

I joined different bounty program and at the end of campaign get reward. but all those coins with ERC-20 blockchain are still in my wallet and it cost huge gas to withdraw them. this is something which should be fixed if they want user to use there coins.

[Btclover]

We can't transfer any ERC 20 based assets due to high excessive amounts of Ethereum network fees. Today I already transferred my ERC 20 assets with fee's of 43 dollars. That a lots of fees for me .

[Manna]

Ethereum high gas fee but we can not say Btc and Eth will fail as you know the price of both coins is quite high at the moment so according to the price gas fee is high but it's not affordable for small traders or investors. Certainly,

[Noverteno]

It should be borne in mind that bitcoin and ethereum were among the first cryptocurrencies. At first, there were few transactions and the fees were also low. It was perfectly acceptable then. But the situation in the world of cryptocurrency is constantly changing. The network load of these coins increased dramatically, as did the transaction fees. I do not think that the difficulties encountered are a sign of the failure of these coins. This is a sign that correction is needed and should be done on time.

[MUGNIA]

we all don't know what is the cause of the high cost of gas, I think the cost of gas can't be controlled anymore, it has become a fixed price, I don't know until when gas costs will be like this sometimes even 30$ is still experiencing obstacles,
does it have to be 50$ up to make transactions fast?

[Freemind]

we all don't know what is the cause of the high cost of gas, I think the cost of gas can't be controlled anymore, it has become a fixed price, I don't know until when gas costs will be like this sometimes even 30$ is still experiencing obstacles,
does it have to be 50$ up to make transactions fast?

Excuse me, but we know the reason for the high price of gas, it is information that can be found in many places. The high price of gas is the result of several variable parameters in the source code, but the most important parameter is the number of users who are sending transactions through the Ethereum chain. When there are more transactions, miners need to validate more blocks. If you want to know more information you can read this article: https://www.sofi.com/learn/content/what-is-ethereum-gas

[Google+]

in my opinion the most expensive to make transactions is on the ethereum network because if you look at bitcoin there are still methods or ways to make transfers with very cheap fees, I often do it by doing it on the mempool network so it's definitely cheaper and better using bitcoin instead of ethereum.