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

[mohdelayo]

Expensive cost of transactions had become the main talk of the day. Bitcoins network fee is more considerate to that of the Ethereum network because i can boost that the highest fee paid to settle transaction on BTC network has never been close to a half of what Is currently paid on the Ethereums network. Good thing there are s lot of better alternatives.

[Octoalts]

I don't think this is a failure by Bitcoin and Ethereum, but it is a very fatal mistake. I am really very disappointed with Ethereum in particular, the very high transaction fees made me fail to send some of my assets to the market, and I hope there will be a way out of this. Whether it's from the Ethereum Blockchain itself or there are solutions from other Blockchain, the important thing is that it can make it easier for us in terms of transactions.

[Galley]

With such prices per transaction, Ethereum will soon turn from a network accessible to all into a “closed club of millionaires”. This is no longer suitable for small transactions and all small traders will switch to a different blockchain.

[Debasco]

to me i take it as exploitation, because they know users have no other option in getting the value of their asset than to pay the  required gas fees, they are just like a major seller and they are dominating the market, if they have major competitor or threat, they will get there sense back.

[Cutter Cute]

I can't say the high transaction fees are a failure, this situation works because the blockchain network has a heavy amount of traffic, we have seen Lightning Network and Ethereum 2.0 solve this problem.
We just need to be patient because the developers are still doing what is best for everyone

[Senin]

You're right, everyone realizes that ETH and BTC fees are insane these days. Even publish0x.com stopped withdrawals due to high ETH fees. If this continues I am sure that people will abandon traditional cryptocurrency systems like this, and switch to a faster and cheaper one, like Tron.

Of course, in general, participants in this market will always strive to use the cryptocurrency that is convenient and profitable. And although bitcoin now has a special relationship with market participants, the laws of the market will eventually apply to it.
As for ethereum, let's hope that the high transaction fees are temporary and as early as July, as they promise, they will return to normal. Having a lot of ERC-20 tokens, it is unlikely that we can now easily switch to using another platform. For now, I try to use them less and make transactions either with a large volume of tokens, or in very urgent cases.

[youdacapt]

I do not agree with this as it is a biased argument; so do you mean to say banks failing to complete transaction in more than 3 days as also a sign of failure ? the blockchain is the most convenient space; where all you need to do is understand how it works. Bitcoin transactions are always below 10$, same with etherum; the congestion will heal

[zilzylian]

This is not a failure.
You can wait until the traffic on the blockchain network doesn't get stuck, it will definitely happen and you will see BTC sending transactions for just $2 and ETH $2 transfers as long as we need to wait for the blockchain network to be free of congestion. and always pay attention to fuel costs before transferring coins or tokens

[labonikhatun]

Despite the congestion in the networks through blockchain technology the transactions of low profit traders for high fees are failing they can't do any transaction for a low fee with the increase in their price the problem of the networks will not last long. But there are many transactions closed due to high transaction fees.

[ashraf786100]

There are many variations in the market. Yes, there is a good alternative, but there are other projects that are doing this. There is also a Cartesian project that seeks to solve the problem by working on the Ethereum network.

[Rehan Zakir]

You are saying right. Ethereum and Bitcoin transaction fees are too high. And due to large traffic on these block chain, it takes more time then usual.These block chains tron, binance smart chain, polkadot, stellar. are more used because of its low transaction fees and speed.
Crypto community is very depressed because of high transaction fees of ethereum. So, they shift on other block chains.

[Mas Bro]

If the Ethereum #DevelopmentTeam  does not solve this problem immediately, I am sure many users and holders will abandon it. Because the cost of gas fees is too high, it could cost Ethereum itself even if Ethereum could be destroyed. So far, ERC20 is the most popular smart blockchain platform, but all of that can be destroyed if the problem of expensive gas fees is not immediately resolved by the #DevelopmentTeam .

[viki]

This is a very serious problem today, large fees will force people to switch to other coins with cheap transactions.  I think Ethereum developers should seriously think about this problem and solve it as soon as possible.

[Carbitcoin]

This is a very serious problem today, large fees will force people to switch to other coins with cheap transactions.  I think Ethereum developers should seriously think about this problem and solve it as soon as possible.

On the Internet, information has already been repeatedly met that the last phase of the ETH2.0 update will be launched in July 2021, and this will significantly improve transaction processing, making the Ethereum blockchain not only more accessible, but also more scalable and faster. I suppose it's not that long to wait for the commissions to become cheaper.

[gabbie2010]

This is not a failure.
You can wait until the traffic on the blockchain network doesn't get stuck, it will definitely happen and you will see BTC sending transactions for just $2 and ETH $2 transfers as long as we need to wait for the blockchain network to be free of congestion. and always pay attention to fuel costs before transferring coins or tokens

Until Lightning Network is deployed else we will continue to have transaction congestions it really very annoying paying high fee for a coin to be sent, ethereum worst hit in terms of transaction gas and this really very discouraging, I hope a cheaper and alternative is introduced to save all cryptocurrency enthusiasts from this unnecessary exploitation.