follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open

Author Topic: Ethereum gas price ridiculously high  (Read 27088 times)

Offline tinakoya

  • Full Member
  • *
  • *
  • Activity: 263
  • points:
    10222
  • Karma: 24
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: February 08, 2024, 09:17:54 PM
    • View Profile

  • Total Badges: 19
    Badges: (View All)
    Fourth year Anniversary 10 Posts First Post
Ethereum gas price ridiculously high
« on: August 13, 2020, 12:34:35 AM »
I just tried moving some token from my wallet and realized gas fee is 275 gwei, how can gas fee be ridiculously high. What is making it so high everyday. I think if Vitalik don't do something about this, people will start dumping ethereum. This upgrade of ETH 2.0 better solve this gas issue.

Altcoins Talks - Cryptocurrency Forum

Ethereum gas price ridiculously high
« on: August 13, 2020, 12:34:35 AM »

For Monthly biddings Check Here


Offline vaysar

  • Legendary
  • *
  • Activity: 3312
  • points:
    45787
  • Karma: 72
  • Trade Count: (0)
  • Referrals: 1
  • Last Active: December 26, 2023, 02:59:04 AM
    • View Profile

  • Total Badges: 20
    Badges: (View All)
    Fifth year Anniversary Fourth year Anniversary 10 Posts
Re: Ethereum gas price ridiculously high
« Reply #1 on: August 13, 2020, 11:55:19 AM »
Vitalik Buterin acknowledged the problem and proposed to implement the improvement of EIP-1599 - this is an increase in network bandwidth from 12 to 16 million Gwei. But I have little faith in this until they stop this madness with DEFI nothing changes

Offline Tnoy30

  • Legendary
  • *
  • *
  • Activity: 1431
  • points:
    57377
  • Karma: -9
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: November 16, 2021, 10:12:38 AM
    • View Profile

  • Total Badges: 24
    Badges: (View All)
    10 Posts First Post Fourth year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #2 on: August 13, 2020, 12:09:38 PM »
I did a small transaction two days ago. It still looks pending. I don't know if the transaction will be enabled. I wanted to withdraw $10 from my ETH wallet. Gas fee was 114 gwei. Which I edited and gave 98 gwei. Now pending. But I also think if Vitalik doesn't do something about it, people will start dumping etherum. However I am hoping for better results of Ethereum 2.0.
« Last Edit: August 13, 2020, 12:12:41 PM by Tnoy30 »

Offline Tnoy30

  • Legendary
  • *
  • *
  • Activity: 1431
  • points:
    57377
  • Karma: -9
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: November 16, 2021, 10:12:38 AM
    • View Profile

  • Total Badges: 24
    Badges: (View All)
    10 Posts First Post Fourth year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #3 on: August 13, 2020, 12:11:24 PM »
There are some transactions which are very large amount. There is no problem in deducting more fee from them. However, if we make a small transaction, if I charge a large amount of money, I lose. Those who are uaer of ethereum are all but rich people. So I think Vitalik should think a little about gas fees. All types of users will not be happy if so much gas fee is required. Again, small transactions are not possible. So it is a matter of concern.
« Last Edit: August 13, 2020, 12:19:30 PM by Tnoy30 »

Offline tinakoya

  • Full Member
  • *
  • *
  • Activity: 263
  • points:
    10222
  • Karma: 24
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: February 08, 2024, 09:17:54 PM
    • View Profile

  • Total Badges: 19
    Badges: (View All)
    Fourth year Anniversary 10 Posts First Post
Re: Ethereum gas price ridiculously high
« Reply #4 on: August 13, 2020, 02:59:58 PM »
Vitalik Buterin acknowledged the problem and proposed to implement the improvement of EIP-1599 - this is an increase in network bandwidth from 12 to 16 million Gwei. But I have little faith in this until they stop this madness with DEFI nothing changes

Was any timeline given for this improvement because it's now a matter of urgency. This should have been anticipated on and this advancement should have been done when DeFi craze started.

Offline tinakoya

  • Full Member
  • *
  • *
  • Activity: 263
  • points:
    10222
  • Karma: 24
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: February 08, 2024, 09:17:54 PM
    • View Profile

  • Total Badges: 19
    Badges: (View All)
    Fourth year Anniversary 10 Posts First Post
Re: Ethereum gas price ridiculously high
« Reply #5 on: August 13, 2020, 03:02:01 PM »
I did a small transaction two days ago. It still looks pending. I don't know if the transaction will be enabled. I wanted to withdraw $10 from my ETH wallet. Gas fee was 114 gwei. Which I edited and gave 98 gwei. Now pending. But I also think if Vitalik doesn't do something about it, people will start dumping etherum. However I am hoping for better results of Ethereum 2.0.

Even if they dump ethereum, they will still need ETH to transfer their ERC20 tokens unless people will pay this ridiculous gas fee to remove all tokens. Solution need to be implemented soon

Offline Seerge

  • Legendary
  • *
  • Activity: 1447
  • points:
    38081
  • Karma: 77
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: December 07, 2022, 11:32:53 PM
    • View Profile

  • Total Badges: 22
    Badges: (View All)
    Fifth year Anniversary Fourth year Anniversary 10 Posts
Re: Ethereum gas price ridiculously high
« Reply #6 on: August 13, 2020, 03:36:56 PM »
That's right, I also just wanted to send a token from Im-token to the Exchange, but seeing the very high cost I canceled my sending. Hopefully this problem can be resolved soon and GAS can come back cheap. Many tokens are stored in the Ethereum wallet, it will be very detrimental if the usual sending is very high like this.

Altcoins Talks - Cryptocurrency Forum

Re: Ethereum gas price ridiculously high
« Reply #6 on: August 13, 2020, 03:36:56 PM »


Online yohananaomi

  • Legendary
  • *
  • *
  • Activity: 1918
  • points:
    81476
  • Karma: 288
  • Bitcoin Mixer| Since 2019
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: Today at 07:20:13 AM
    • View Profile

  • Total Badges: 26
    Badges: (View All)
    Sixth year Anniversary Fifth year Anniversary Fourth year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #7 on: August 13, 2020, 06:18:03 PM »
It is clear what happens today with the gas determined by ethereum is very disturbing, because all transactions will affect what will happen with the specified gas, because by sending something that is not big but the same as the cost of sending a little of course this will be a problem in itself .

But this gas will have nothing to do with investors still holding Ethereum to be an attractive investment. I hope this problem can be resolved and can return to the beginning.
although the goal is to speed up each transaction, it must also be adapted to the circumstances.

Offline hushpupppy

  • Sr. Member
  • *
  • Activity: 433
  • points:
    17406
  • Karma: 7
  • Live right, Love right
  • Trade Count: (0)
  • Referrals: 1
  • Last Active: July 11, 2021, 06:22:32 PM
    • View Profile

  • Total Badges: 19
    Badges: (View All)
    10 Posts First Post Third year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #8 on: August 13, 2020, 06:25:55 PM »
I just tried moving some token from my wallet and realized gas fee is 275 gwei, how can gas fee be ridiculously high. What is making it so high everyday. I think if Vitalik don't do something about this, people will start dumping ethereum. This upgrade of ETH 2.0 better solve this gas issue.

It is beyond ridiculous and also the first time I witness something like this, the blockchain was supposed to spread ease and convenience but it turned out to be just another means of extortion if the ridiculous charges continue.

Why should i send out 5$ worth of token with 10$ gas fee worth??

Offline TERMINO

  • Legendary
  • *
  • Activity: 1651
  • points:
    46138
  • Karma: 20
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: November 20, 2021, 04:22:14 PM
    • View Profile

  • Total Badges: 22
    Badges: (View All)
    10 Posts First Post Fifth year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #9 on: August 13, 2020, 06:39:02 PM »
I'm sure Vitalik is aware about the issue and will immediately do something to resolve this matter in order to maintain Ethereum reputation.
                  ▄▄▄▄▄▄ ████▄██▄ █████████
████████ ████████ ███████▄██ █████▄ ███████
██████████████   ████████ ▀▀ ███████▄███████
████████████████████████         ████ █        ▄▄▄▄ ▄▄    ▄▄▄▄
██████████████████████████         █████         █████   █████▄▄█████████▄█████▄▄▄██████▄
█████████████████████ ██████▄     ██████       ████████   ▄█████████ █████████████████████
▐█████████████████████▄ ██████     ███████      █████▀   ███████████ █████████ ████████████
▐███████████████████████           ███████      ▀██████   ███████████ █████████  █████████▀▀
▐██████████████████████▄          ███████     █▄ ███████  █████████████████    ████████▄
 ████████████████████████▄         ███████     ███▄██████  ██████████ ██████████ ▄▄██████▄
 █████████████████████████         ███████     ████▀▀▀████ ███ ███████████████████████████
 ██
███████████████████████         ███████     ████   ████ ███  █████████████████████████▀
 █████████ ▀▀▀▀▀▀▀ ▀▀▀▀▀▀           ▀▀▀▀▀▀▀     ▀▀▀▀   ▀▀▀▀ ▀▀▀    ▀▀▀ ▀▀▀    ▀▀▀▀▀  ██████▀▀▀
                 NFTanks.app                
A collection of 3333 unique Dogetankers
and New Play to earn (P2E) NFT game
[  PvE Mode  ]   [  PvP Mode  ]   [ Team Battle ]
|   TWITTER   |  TELEGRAM  |   DISCORD   |

Offline ife2020

  • Full Member
  • *
  • Activity: 187
  • points:
    7300
  • Karma: 4
  • Live Right
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: August 30, 2021, 01:17:40 AM
    • View Profile

  • Total Badges: 14
    Badges: (View All)
    10 Posts First Post Third year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #10 on: August 13, 2020, 11:39:56 PM »
I just tried moving some token from my wallet and realized gas fee is 275 gwei, how can gas fee be ridiculously high. What is making it so high everyday. I think if Vitalik don't do something about this, people will start dumping ethereum. This upgrade of ETH 2.0 better solve this gas issue.

We are in the miners world, miners season, they are busy taking profits and earning alot with the ridiculouus gas fees flying around lately, but is it right ?
 The blockchain was supposed to preach freedom, ease of transfer, and cheap rate. but it is becoming expensive each day.

This is not the blockchain way

Offline Muneeb22

  • Legendary
  • *
  • Activity: 1981
  • points:
    72671
  • Karma: 41
  • Trade Count: (0)
  • Referrals: 9
  • Last Active: March 27, 2024, 11:34:36 AM
    • View Profile

  • Total Badges: 19
    Badges: (View All)
    Third year Anniversary Second year Anniversary Mobile User
Re: Ethereum gas price ridiculously high
« Reply #11 on: August 14, 2020, 06:10:44 AM »
When the market is going to be high the gas fee is regularly increasing day by day and when the ETH touch the 10,000$ at that time gas fee is more high.

.FX..BOX.
 
▄████████████████████████████████████████▄
███                                    ███
███                          ▄██▄      ███
███                         ▄█████▄    ███
███   ▄▄                   ▄████████▄  ███
███  ▄███▄                █████▀██████▄███
███ ███████▄             █████▀  ▀████████
█████████████▄         ▄█████      ▀██████
███████▀▀██████▄      ▄█████         ▀████
██████    ▀██████▄   ██████            ▀██
█████       ▀██████▄██████             ▄
███▀          ▀██████████              ██▄
██▀             ▀▀█████▀               ███
█▀                 ▀██▀                ███
▀ ▄                  ▀                 ███
▄██                                    ███
▀████████████████████████████████████████▀
 
INVESTING, TRADING,
LOTTERY, MARKET
PREDICTIONS.
 
              ▄▄███
        ▄▄▄██▀████
  ▄▄▄█████▀ ▄█████
▀█████▀▀ ▄███████
       ▄█████████
       ██▀██████
       ▀    ▀▀█▀


██▀▀█▄       ▄█▀
 ▀█▄ ▀█▄   ▄█▀
   ▀█▄ ▀█▄█▀
     ▀█  █▄
    ▄█▀█▄ ▀█▄
  ▄█▀   ▀█▄ ▀█▄
▄█▀       ▀█▄▄██
 
GAMEFI  ◼  NFT  ◼  DEFI  ◼  CURRENCY TRADING
CURRENCY TRADING  ◼  DEFI  ◼  NFT  ◼  GAMEFI
               │
     │      ███
     │      ███
    │     ███
███  │     ███
███ ███ ███ ███
███ ███ ███ ███
███ ███ ███ ███
███ ███ ███ ███
███ ███     │
███ ███     │
    │
 
 
.FOREX..TRADING FROM $1.
 
.READ MORE.

Online damsix

  • Legendary
  • *
  • *
  • Activity: 2450
  • points:
    37243
  • Karma: 3
  • Winz.io
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: Today at 08:16:04 AM
    • View Profile

  • Total Badges: 22
    Badges: (View All)
    Fifth year Anniversary Fourth year Anniversary 10 Posts
Re: Ethereum gas price ridiculously high
« Reply #12 on: August 15, 2020, 03:45:13 PM »
It is better if this thread continues to blow up so that it can be read by Vitalik Butterin.
If this thread goes down then we definitely can't see any progress towards cutting costs from sending Ethereum.

Ethereum does have a community but it shouldn't be that Ethereum is also going crazy because the transaction fees are huge and it really makes me uncomfortable (for now) on Etheruem.

                ▄█▀
▐█▄    ▄██▄    ▄█▀ ██                          ██
███   ▄████   ▄█▀ ▄▄  ▄▄▄ ▄▄▄   ▄▄▄▄▄▄▄       ▄▄▄   ▄▄▄
███  ▄█▀███  ▄█▀ ██▌ ▄██▀▄▀██▌ █▀  ▄█▀       ▄██▌ ▄██▀ ▀▄
███ ▄█▀▐███ ██▀ ██▌ ▐███▀ ▄█▀    ▄█▀        ▄██▌ ▄██   ▄▀
▐██▄█▀  █████▀ ▐██  ███  ▐██   ▄█▀          ██▀  ██▌  ▄▀
 ▀██▀   ▀██▀    ▀█  ▀█   ▀█  ▄██▄▄▄▄▄▀▀  ██ ▀█    ▀███▀

Casino & Sports Betting
.
B O O S T E D
R E W A R D S

.
FOR CRYPTO PLAYERS
         ▐█▌                        ▄▄
▐██      ██ ▄▄  ▄   █▌ █████      ▄███▄
▐██     ▐█▌ ██  ██ ▐█   ▄██     ▄██████▄
██▌     ██ ▐█▌ ███▄█▌  ▄█▀     ▀▀▀██████▄
██▌ ██ ▐█▌ ██  ██▀██▌ ▄██▄▄      ▐███▌
██▌▄██▄██ ▐█▌ ██▌ ▀▀  █▀▀▀       ████
▐███████  ██  ▀▀            ▄   ▐███▌
▐███▀██         ▄▄▄▄████   ▐███▄████
 █▀
    ▄▄▄ ███ █████████   ████████▌
      ████ ███ ████▄███▌  ▐██ ▀▀███
     ▐███▌▐██▌▐████████   █▀      ▀
     ████████▌▐███▀▀▀▀   ▐▀
     ▀▀▀████▀ ████
▄██      ██▌▄██  ██▌▀██████▀██████ ██
███     ▐██ ██▌ ▐██ ▐██    ▐██    ▐█▌
███     ██▌▐██ ▄██▌ █████  █████  ██
███ ▄█ ▐██ ███████ ▐██    ▐██    ▐█▌
███▄█████ ▐██  ██▌ ██▄▄██ ██▄▄██ █████
▐███████  ██▌ ▐██ ▐██▀▀▀ ▐██▀▀▀  ▀▀
▐██▀ ▀▀  ▀▀▀
   ▄▄     ██   ▄   ▄ ████
      ▄▄▄ ▄▄▄  ██    ▐█▌▐█ ██ ██  ▄█▀
     █  █ █▄  ▐██    ██ █▌▐████▌ ▄█▀
     █  █ █   ▐██ ▄▄▐█▌▐█▌▐█ ██ ████▀
     ▀▀▀  ▀    ██▄████ ██ ▀▀
               ██████
               ██▀ ▀
.
BTC
ETH
LTC
.
DOGE
USDT
USDC
.
XRP
TRX
BNB
██████
██
██
██
██
██
██
██

██

██

██

██

██████
██████████████████████████████████████████████████████████
.
PLAY NOW.
██████████████████████████████████████████████████████████
██████
██
██
██
██
██
██
██

██

██

██

██

██████

Online yohananaomi

  • Legendary
  • *
  • *
  • Activity: 1918
  • points:
    81476
  • Karma: 288
  • Bitcoin Mixer| Since 2019
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: Today at 07:20:13 AM
    • View Profile

  • Total Badges: 26
    Badges: (View All)
    Sixth year Anniversary Fifth year Anniversary Fourth year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #13 on: August 16, 2020, 12:10:17 PM »
This is not only gas that happens at a quite expensive price, but it seems that it has penetrated into the cost of wd made by the exchanger is also very large. I don't know what phenomenon is happening at this time, because the income is indeed small but all the fees charged are quite expensive so that I was never able to do WD because the limitations that occurred were not in accordance with the fee requested.

Online Zed0X

  • Legendary
  • *
  • *
  • *
  • Activity: 3302
  • points:
    47727
  • Karma: 310
  • Coinomize.biz
  • Trade Count: (0)
  • Referrals: 34
  • Last Active: Today at 07:58:40 AM
    • View Profile

  • Total Badges: 27
    Badges: (View All)
    Sixth year Anniversary Fifth year Anniversary Fourth year Anniversary
Re: Ethereum gas price ridiculously high
« Reply #14 on: August 21, 2020, 04:05:24 PM »
If you are not in a hurry, you can try to send on weekend. The network seems to be less congested around those days similar to Bitcoin.



Vitalik Buterin acknowledged the problem and proposed to implement the improvement of EIP-1599 - this is an increase in network bandwidth from 12 to 16 million Gwei. But I have little faith in this until they stop this madness with DEFI nothing changes
Yeah, it's DEFi that's driving this gas madness. Unfortunately, they (eth devs) can't do anything to stop the hype. EIP-1599 could be implemented but that wouldn't slow down people from sending with high fees dictated by the miners. I guess they (miners) are trying to reap all the rewards before the full transition to POS.

~
Was any timeline given for this improvement because it's now a matter of urgency. This should have been anticipated on and this advancement should have been done when DeFi craze started.
Even if there's a timeline, don't expect them to be followed. Just think of many times eth 2.0 was delayed.

It is better if this thread continues to blow up so that it can be read by Vitalik Butterin.
If this thread goes down then we definitely can't see any progress towards cutting costs from sending Ethereum.
Lol. i doubt Vitalik even reads forums now aside from their local eth forum. He's getting plenty of criticisms on twitter too and that's more than enough for him.

 

ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod