Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: ranaprime on February 22, 2021, 05:27:36 PM
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Now a days many of us have not been able to sell tokens due to ether gas fees. Most of the investors are now losing their interest in it. In this case, do you think the Excess ether gas fees will adversely affect on the ether platform?
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Yes, the high transaction fees will certainly affect Ethereum and its use. What is happening is crazy, preventing users with few funds from advancing who see how the opportunity to profit is lost due to the high fees, and that will certainly affect Ethereum in the way of having fewer users, fewer projects using its chain and more people looking for faster and cheaper chains, fortunately there are several options to choose from.
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No I do not think so. It's just that the price of Bitcoin has started to fall and the price of other coins has started to fall after it. I think this is just a correction and nothing else.
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In order for the ether to really lose its influence, we must see serious alternative ecosystems, and such are emerging, but all innovations are still on Ethereum, and there are only copying ideas with a low commission, so the question of the negative to the ether due to the commission is controversial. It is still simple and will be used!
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Of course right. Due to the excessive amounts of ether network fees , traders don't trade Ethereum platform and instantly Ethereum based assets trading volumes aromatically decreasing. So popularity of Ethereum also decreasing.
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Of course right. Due to the excessive amounts of ether network fees , traders don't trade Ethereum platform and instantly Ethereum based assets trading volumes aromatically decreasing. So popularity of Ethereum also decreasing.
Yes mate, I don't know why ether authority doesn't take any action regarding this issue. It is really excessive. They should immediately take necessary stapes to control gas fees.
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The gas situation is so annoying to be honest , i have token in my ether wallet that worth 45$ but i need to pay 20$ as a gas fee to be able to make the transaction, i tried to send many times with less than 20$ and i lost all the gas but the transactions didn't succeed,i think they should find a solution to this problem..
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i dont think so , eth price is still increasing , many new projects is trusting eth , i think the team\developers is creating a solution for high gas fees
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If we talk about the fact that Ethereum fell in price a few days ago, then this was a general trend in the cryptocurrency market, and not possible disadvantages of ETH, because the bitcoin rate also fell. fees on the Ethereum network have been rising along with the growth of Ethereum and the price for gas is high only because the Ethereum platform is in great demand and therefore the network is overcrowded.
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If trading on CEXs, the transaction fee is still only 0.05% -2%, unaffected by Ethereum's transaction fees. However on the DEX, profits will be affected by too high transaction fees. I don't think traders use DEX, they usually prefer CEX, so they won't be affected too much.
For the Ethereum platform, they are losing users because of the problem of transaction fees.
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Of course, the price for expensive gas will have a very bad effect on the Ethereum platform and on projects that are planning to launch on the Ethereum blockchain. Earlier I could invest in projects in the region of $ 50-100, but now I will not do this because of the expensive gas.
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It's good that most tokens are also traded on centralized exchanges, where I can buy profitably, with a minimum commission! At Uniswap, the commission is very large and I don't buy there!
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To be sincere, am one of those who believe that with the current price of bitcoin raising above $50,000 usd and almost touched $60,000, if everything was alright with Ethereum, eth should be trading between nothing less than $5000 usd and $10,000 usd, but like you all already know, the high fees have been a major put off and some projects have even migrated to other chains to save their community from the fees.
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Yes i think excess gas fees are the main reason for decline of ether. Because of excess gas fees investor and bounty hunter are facing problem.
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Yes i think excess gas fees are the main reason for decline of ether. Because of excess gas fees investor and bounty hunter are facing problem.
I agree with you all of bounty hunter facing lots of problem such as they don't have sufficient gas fee for transfer bounty reweds.it's very piratic for hunter.
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Today I read that several projects that I am watching have announced the transition to Binance Smart Chain (BSC) and this shows how huge the problem in the Ethereum network is due to the high fees.
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Users and teams that want to launch their projects not only go to Binance Smart Chain, they also go to Tron or any platform that is cheap, if we add that most chains can execute many more transactions per second than Ethereum everything is clear, at least until the hard fork called "London" arrives.
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Lots of people are disappointed with the high eth gas, including myself, who are very disappointed with the high fee. I failed to sell tokens because gas was expensive, even though the price of tokens was high. I hope it won't bring down Ethereum, but I hope Ethereum will bring down this eth gas high soon.
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In order for the ether to really lose its influence, we must see serious alternative ecosystems, and such are emerging, but all innovations are still on Ethereum, and there are only copying ideas with a low commission, so the question of the negative to the ether due to the commission is controversial. It is still simple and will be used!
The first decentralized exchange that worked on the ethereum blockchain and decided to switch to BSC is 1inch. The advantages of BSC over Ethereum are now not only in the price per commission, but also in the speed of transactions.
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You are right @tvplus006, this is going to be a very hard blow for Ethereum, but what happened hurt a lot of people. There are many users who have not been able to obtain benefits due to the high fees, and many projects that have not been able to advance in their development due to the same problem, and that has the consequences that we are seeing, the abandonment of Ethereum by many people and projects.
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Yes mate you may know that currently some projects owner trying to change their platform. Most of the investor suggest to select Binance Smart chain. I think ether gas fee is the main reason to divert. That is why i support gas fees are the main reason for decline of ether or ethereum platform.
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I think so. If ETH reaches let's say 10K, only a few whales would use the network. In other words, it would be a ghost network ;D
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ETH is being barred from trading for gas fee. There is a lot of transaction demand. But extra dollars have to be counted for trade. Which, of course, made the video an overnight sensation. Constantly losing money by trading or trading on ETH. I don't know when ETH drops will be. We should wait until eth drops to trade. So don't trade at a loss.
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Now a days many of us have not been able to sell tokens due to ether gas fees. Most of the investors are now losing their interest in it. In this case, do you think the Excess ether gas fees will adversely affect on the ether platform?
May be it a one of the reasons of declining Ethereum popularity. But compare with others plafrorms, Ethereum price more decreased. I can't withdraw or transfer any ERC 20 based assets due to the fact of Ethereum network fees.
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@Hometown I don't think it's just about the Ethereum price, which is also important, I think the worst thing is the reputation that is being gained now for the problems of the high fees. This has been causing the abandonment of the Ethereum network by many users for several days and what is worse, many projects. I hope it gets fixed in the next hard fork, otherwise as time goes by Ethereum will hardly have users.
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There are problems with high transaction fees in the ethereum network and they are obvious. Of course, ethereum is now gradually losing its reputation and many new projects on its platform. However, I am not drawing any conclusions yet. For now, I limit my activities with erc-20 tokens and only make large transactions in which the gas price will not seem too exorbitant. I think we need to wait until July, when they promise to fix the high gas situation.
At the same time, I don't think the ethereum price is obviously dropping because of this problem.
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I think so. If ETH reaches let's say 10K, only a few whales would use the network. In other words, it would be a ghost network ;D
True that and I think this issue has taken too long to resolve if it is been resolved and that as we all know has really affected the ethereum network, imagine sending a transaction with $20 fee :( why will I do that transaction? obviously people will want to migrate to other networks to reduce investors complaints on this kind of issues and as we know, Time is Money ;D
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i dont think so , eth price is still increasing , many new projects is trusting eth , i think the team\developers is creating a solution for high gas fees
Most of the projects now trusting Binance smart chain plafrorm because investors don't pay exessive network fees . I already invested several projects which is BSC plafrorm.
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Now a days many of us have not been able to sell tokens due to ether gas fees. Most of the investors are now losing their interest in it. In this case, do you think the Excess ether gas fees will adversely affect on the ether platform?
This has been an ongoing discussion and it has really affected the cryptocurrency investors as many have not been able to either receive their payments for bounty work and even those that have received my ost have not been able to push to exchange for trade due to this high Eth gas fee and that has truly affected the Eth network though I would say it is the major problem affecting the network usage at the moment.
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Etherium has lost a lot of popularity due to its high transaction fees. So I think it would be possible to bring any other platform without the Etherium platform. There are many senior brothers, please everyone have some opinion on this. I hope everyone's opinion will ever be possible to bring any other platform other than the Etherium platform.
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Until now, I still hold all the coins I have, because the cost of gas fees is very high. Not worth the price of the tokens or coins that I will sell. If this problem is not resolved soon, I believe it will be bad for Ethereum and will suffer losses. Even the users will decrease a lot. Especially now that many projects are using other blockchain platforms that are cheaper and faster.
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The fact is that Ethereum followed the general market trend and decreased in price, of course, many Bitcoin keepers fixed their profits when it reached $ 2,000 and this may be the result. But high gas prices scare off only small and cheap projects, which are very much losing their relevance given the high commissions.