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Author Topic: Ethereum losing the one important attraction  (Read 2849 times)

Offline Master107

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Ethereum losing the one important attraction
« on: April 22, 2021, 01:47:52 AM »
We are all aware about the tremendous gas fee of Ethereum.

For example: The withdrawal of 24,000 pcs of tokens with equivalent of 25$ and the gas fee to be paid is 30$ is not right.

If the high gas fee of Ethereum won't be solve by the team, I think one day BNB will overtake Eth. Since there are huge users of ERC 20 that are still waiting for the solution and yet it takes so long. There is a tendency that more and more erc 20 users will migrate to BSC.

Gas fee matter.

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Ethereum losing the one important attraction
« on: April 22, 2021, 01:47:52 AM »

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Offline Malam90

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Re: Ethereum losing the one important attraction
« Reply #1 on: April 22, 2021, 11:18:28 AM »
We are all aware about the tremendous gas fee of Ethereum.

For example: The withdrawal of 24,000 pcs of tokens with equivalent of 25$ and the gas fee to be paid is 30$ is not right.

If the high gas fee of Ethereum won't be solve by the team, I think one day BNB will overtake Eth. Since there are huge users of ERC 20 that are still waiting for the solution and yet it takes so long. There is a tendency that more and more erc 20 users will migrate to BSC.

Gas fee matter.

Ethereum gas fees is now a tremendous problem for the crypto users specially small users. In every transaction, you have to pay $20-$100 and if you want to make swap in uniswap and other swaps sometimes, you have to pay more than $120. Can you imagine the fatal impact on the mind of the users?
That's why new projects are coming on BSC and old many project are migrating to BSC for avoiding this issue. YOu will be surprised that two days ago,  Pancakeswap made 2M transactions where whole Ethereum network made only 1.5M transactions in the 24 hours.

Offline Master107

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Re: Ethereum losing the one important attraction
« Reply #2 on: April 22, 2021, 11:34:58 AM »
Can you imagine the fatal impact on the mind of the users?

Horrible.
Much bigger risk to swap and pay +100$ just for gas and yet not sure if the token will come up to +100% increase. That is rediculous.

Meanwhile, BSC is catching the opportunity as sweet like a honey.

Offline Malam90

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Re: Ethereum losing the one important attraction
« Reply #3 on: April 22, 2021, 02:02:12 PM »
Can you imagine the fatal impact on the mind of the users?

Horrible.
Much bigger risk to swap and pay +100$ just for gas and yet not sure if the token will come up to +100% increase. That is rediculous.

Meanwhile, BSC is catching the opportunity as sweet like a honey.

BSC now already become superhit. Sooner or later BSC will overtake Ethereun network as Ethereum network development that we have been calling Ethereum2.0, needs huge time to complete. Till then BSC will be number one blockchain network surpassing Ethereum. Already we are observing nearly same transaction or nearly same transaction amount between Ethereum and BSC. Only Pancake is facing tremendous transactions that is higher than whole ethereum network transaction. It proves that Ethereum is now going to face serious completion with BSC.

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Re: Ethereum losing the one important attraction
« Reply #4 on: April 22, 2021, 02:04:42 PM »

If the high gas fee of Ethereum won't be solve by the team, I think one day BNB will overtake Eth. Since there are huge users of ERC 20 that are still waiting for the solution and yet it takes so long. There is a tendency that more and more erc 20 users will migrate to BSC.

Gas fee matter.

Yes gas matter is the big problem now. I believe Ethereum team will solve this problem . We should wait until July this year. BSC is good alternate, but I think Ethereum is still the best smart contract platform..I think.

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Re: Ethereum losing the one important attraction
« Reply #5 on: April 22, 2021, 02:15:09 PM »
No need to wait long, now many people have moved to the BSC network because of the high ERC-20 token transaction fees. I myself wonder why this problem can drag on for so long, as there is no way out by Ethereum. Ethereum which we used to love now is a real disappointment.
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Offline whyrqa

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Re: Ethereum losing the one important attraction
« Reply #6 on: April 22, 2021, 05:11:24 PM »
No need to wait long, now many people have moved to the BSC network because of the high ERC-20 token transaction fees. I myself wonder why this problem can drag on for so long, as there is no way out by Ethereum. Ethereum which we used to love now is a real disappointment.
I still have hope that the fee situation will change. but nevertheless, you need to take into account the fact that today the commissions for transactions are on average 115 gwei, although recently they still reached 400 gwei and of course the popularity of DeFi greatly affects the cost of the transaction, But over time, their activity will also decrease.

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Re: Ethereum losing the one important attraction
« Reply #6 on: April 22, 2021, 05:11:24 PM »


Offline sergeybobrov

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Re: Ethereum losing the one important attraction
« Reply #7 on: April 22, 2021, 05:35:26 PM »
Gas fee is of great importance, but I think the Ethereum team is working on this problem very actively and it will be resolved this year. With high commissions, development and price growth will be severely hampered.

Offline Zed0X

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Re: Ethereum losing the one important attraction
« Reply #8 on: April 23, 2021, 07:39:10 AM »
~ There is a tendency that more and more erc 20 users will migrate to BSC.
Tendency you say?



Retail traders have moved on to other blockchains like BSC. Only whales/big traders who can obviously afford the fees and Ethereum fanatics/maxis have stayed.

Regular people wouldn't really sacrifice $30 fees on Ethereum over $0.50 on BSC.

Offline Master107

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Re: Ethereum losing the one important attraction
« Reply #9 on: April 23, 2021, 08:31:51 AM »
~ There is a tendency that more and more erc 20 users will migrate to BSC.
Tendency you say?



Retail traders have moved on to other blockchains like BSC. Only whales/big traders who can obviously afford the fees and Ethereum fanatics/maxis have stayed.

Regular people wouldn't really sacrifice $30 fees on Ethereum over $0.50 on BSC.

I agree. Only whales or big traders can afford Ethereum fees which it seems Ethereum transactions is exclusively for them, I hope not so in due time. Gas fee is enough for investment, annoying  ;D Meanwhile, BSC is a place for everyone. Appreciated

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Re: Ethereum losing the one important attraction
« Reply #10 on: April 24, 2021, 08:11:46 AM »
Indeed, I lost the moment from Ethereum because of the problem in fees.
It is also difficult for Ethereum to lower the transaction fees because the price of Ethereum is also getting more expensive.
I also believe that Ethereum will really be even more valuable if each token delivery costs only 1 USD, but this may be difficult to happen.
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Re: Ethereum losing the one important attraction
« Reply #11 on: April 24, 2021, 01:35:59 PM »
No need to wait long, now many people have moved to the BSC network because of the high ERC-20 token transaction fees. I myself wonder why this problem can drag on for so long, as there is no way out by Ethereum. Ethereum which we used to love now is a real disappointment.
Don't jump to conclusions. The ethereum network is really tough right now, but it should be over soon. We only have a few months to wait. Ethereum still has a large community, most tokens are issued on the ethereum platform. If gas prices return to normal after July, ethereum will resume its popularity.

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Re: Ethereum losing the one important attraction
« Reply #12 on: April 24, 2021, 05:13:54 PM »
No need to wait long, now many people have moved to the BSC network because of the high ERC-20 token transaction fees. I myself wonder why this problem can drag on for so long, as there is no way out by Ethereum. Ethereum which we used to love now is a real disappointment.
Don't jump to conclusions. The ethereum network is really tough right now, but it should be over soon. We only have a few months to wait. Ethereum still has a large community, most tokens are issued on the ethereum platform. If gas prices return to normal after July, ethereum will resume its popularity.
Stacking and burning Ethereum fees will further increase the chances of Ethereum's already huge success. at least high gas commissions can be afforded by large and expensive projects that use erc20. And other projects for the poor will develop on other platforms where a lot of garbage will be collected.

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Re: Ethereum losing the one important attraction
« Reply #13 on: April 26, 2021, 02:30:09 PM »
Alright, just to update you guys that gas price decrease to $2 slow, 2.06$ normal, $2.37 fast, $2.67 instant.

The price is base on Ethgas watch.

Also we can confirmed this in this topic Yet another gas fee thread. -By: Zed0x

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Re: Ethereum losing the one important attraction
« Reply #14 on: April 26, 2021, 02:52:10 PM »
That BSC will outperform Ethereum is something I've been saying for weeks, snd I'm not saying this because I'm smarter than the others, I'm saying it because the market quickly "forgets" projects that don't make things easier, and Ethereum has been making things difficult for us for a long time, it is normal for BSC to keep moving forward and improving, Binance knows that sooner or later they will surpass Ethereum.
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