Do you think excess gas fees are the main reason for decline of ether?

[sergeybobrov]

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.

[Freemind]

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.

[Octoalts]

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.

[tvplus006]

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.

[Freemind]

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.

[mahid]

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.

[Filo]

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 

[Paglamon]

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.

[Hometown]

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.

[Freemind]

@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.

[Fenix]

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.

[nicecrypto]

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 

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   

[Coin63@]

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.

[Anonylz]

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.

[Jaya60]

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.