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

[Freemind]

Yes @bitbit97 I don't see any problem paying a $50 fee if the transaction amount is much higher. The problem is that it is crazy to pay $50 in fees to do a $20 transaction for example in Ehtereum.
This is causing a lot of frustration in the community, especially for users with less funds, who can do practically nothing because of the high price of transactions.

[indexx]

In fact this may not be a serious problem for large traders who have large amounts of bitcoin and ethereum. but it will be felt for small traders, it will be very detrimental and it seems that if the price of bitcoin and ethereum continues to increase, this transaction fee will not decrease either.

[masterrex]

In fact this may not be a serious problem for large traders who have large amounts of bitcoin and ethereum. but it will be felt for small traders, it will be very detrimental and it seems that if the price of bitcoin and ethereum continues to increase, this transaction fee will not decrease either.

Yes you're right mate those high transaction fees will not affect the large traders or whales But the statistics say that most traders and Hodlers belong to the small and medium scale category and trading and Swapping with that expensive fees is not good, thats, why the effect is already seen by now and the favor, is changing and these time with the Binance Smart Chain or BSC if the trend will continue BSC will overtake Ethereum in terms of volume for me thats not surprising because BSC is cheaper compared to Ethereum Network. 

[Confero]

We can't do anything about the high cost of Bitcoin and Ethereum transactions, only hope that things will change with all of this.  Because for me this is very disappointing, Bitcoin and Ethereum must have cheap transaction fees, so that people who are here feel happy and comfortable.

[Freemind]

@Confero not only is it disappointing for you, it is disappointing for all the small fish, and I think we are the majority here. It is clear that we cannot do anything to fix it, but if we continue like this, the abandonment of the Ethereum blockchain by users and teams can be massive. I'm not saying that Ethereum is going to be forgotten, but a lot of people are going to stop using it because of this problem and in the end it will only be used by people who have a lot of money.

[uomoricco]

 

[Bitstar_coin]

It is no longer news that high transaction fee in both eth an btc network is making many people to suffer, we already know about btc hence the reason why many will opt for eth but eth is so high in transaction fee that small traders can't benefit it.

[innerpumper]

If the core team of eth is not properly paying attention to this ready ready eth abandoned by many people and project owners erc20. Migrating to BSC is the most appropriate option at the moment. Not only new crypto, some old cryptos also immediately move to the BSC network. I hope in the future there will be no more erc20 tokens because it really weighs on me in many ways. Even the current cheapest $40 transaction is completely unreasonable.

[Senin]

Bitcoin and ethereum were the first cryptocurrencies and their bandwidth was not designed for the current high volume of transactions. However, for Bitcoin, this problem will remain a significant problem for now, and for the Ethereum network, this problem may disappear in four months, when gas prices may return to normal in July due to the systematic implementation of Ethereum 2.0 improvements.

[batishta10]

High fees on the Ethereum network are a headache for all market participants. The miners are just jubilant now. While ERC20 is losing its popularity, the BSC network is gaining a share of the market.

[Anonylz]

Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.

Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!

I believe it is affecting ERC20 transaction already. I tried to transfer some USDT from one wallet to another exchange yesterday and the fee was about $20 and I just couldn't do that, I have to wait until that is much lower since there is an alternative at the moment for me and I believe to many others too.

[LaZim]

Yes @bitbit97 I don't see any problem paying a $50 fee if the transaction amount is much higher. The problem is that it is crazy to pay $50 in fees to do a $20 transaction for example in Ehtereum.
This is causing a lot of frustration in the community, especially for users with less funds, who can do practically nothing because of the high price of transactions.

Large commissions are a failure for the coin. Why should the society pay such commissions on the ethereum network, if you can switch to Finance SmartChain. I think that in the future, if the binance network develops faster, then even ethereum 2.0 will not be needed by anyone.

[atjiat]

Yes @bitbit97 I don't see any problem paying a $50 fee if the transaction amount is much higher. The problem is that it is crazy to pay $50 in fees to do a $20 transaction for example in Ehtereum.
This is causing a lot of frustration in the community, especially for users with less funds, who can do practically nothing because of the high price of transactions.

Large commissions are a failure for the coin. Why should the society pay such commissions on the ethereum network, if you can switch to Finance SmartChain. I think that in the future, if the binance network develops faster, then even ethereum 2.0 will not be needed by anyone.

Today, the whole problem of the Ethereum platform is stored precisely in the miners, since it is they who support the existing high prices for transactions. But the team will forcibly reduce commissions to stay competitive. We will not have to wait long for this.

[bitcoin-shark]

in my opinion the high fees of bitcoin and ethereum are closely linked to their value, i believe that users who are looking for other blockchains where to operate such as ada or bsc are right,there the fees are reasonable, why giving all this money in fees to miners, remember when the fees on eth were 10 cents?

[Freemind]

@bitcoin-shark I remember when Ethereum fees were only 6 cents . What has happened has been very serious, so much even 1Inch has decided to stop using the Ethereum chain to start using the Binance chain, BSC, much cheaper and faster. Ethereum will soon lose a lot of users and projects, and it's a shame.