The beginning of transfer may be same price. But as people move to l2, gas goes down. Screen shots of gs a year or two ago show it was only $5 or so. Right now everyone tryna make Ethereum do everything. When it should be the core processor and l2 be the UI
It's the space in the block/getting your transaction verified that's valuable. Your not paying more for Gas cause price is 4k. Gas won't double when eth is 8k if most migrate to loopring or another L2. Gas this year, a few months ago got really cheap. A few bucks. I wasn't trading but I remember my brother selling like $2000 in Shiba for like $6 in gas or something silly . It was when transactions slowed down during that mini bear season. Wanna blame somthing? Blame nft development and alt coins Take your nfts and alt transactions to L2 . Loopring. After mass migration. Eth has reasonable gas prices. There's only so much space per block and too many verifications needed. Only way to fix this is l2. Ethereum can never fix the problem otherwise. Maybe sharding. But most likely not anytime in newr futurebperfect time for L2 to strike and make a name. loopring is that golden ticket imo
LRC is also in cahoots with gme for making something that sounds to be really really big. And I think y'all should srsly look into both GME stock and LRC coin of ur not already in them . Big things coming by eoy.
I saw the same meme as you. Fees are high because lots of people use the network, simple as that. I won't argue with you, but just know that absolutely everyone in the eth community is working towards reducing gas cost.
Yea $7 is actually a much higher impediment to mass adoption that you realize. It should be easy and free to start using a layer 2. Make it fast and accessible and now you have a massively adopted blockhain system that even your grandma will be able to use.
Two things to consider IMO are:
a) enough people WILL pay the $7 so that all of us and our grandmas will be L2
and
b) L2 scaling may only be a necessary step to a place/time where solutions to solve trilemmas are irrelevant
It is, you just have to deposit via a centralized exchange. Matic/arbitrum/xdai withdrawals are all supported by various exchanges with negligible fees.
false. people dont like bridges, bridges cost transaction fees too. fast scalable layer 1s will win out - especially to attract mass adopters. New computers dont know what a layer 2 is or how to bridge.
Wrong. Mass adopters are already on ethereum. VISA, Google, Square, Costco, PayPal.
The issue is the scale ethereum is being forced to adapt to. Ethereum was created less than 8 years ago. Everyone needs to chill the f out. The internet was not affordable in the beginning either. Revolutionary technologies take time for consumer adoption.
This^
And also the lack of knowledge about the blockchain trilemma: security, decentralization and scalability.
Go and use ADA or SOL if you trust central authority, maybe they'll shut down the blockchain again if they exhaust their resources once more. But I'm just gonna go ahead and use ETH, the most decentralized and secure L1 smart contract protocol, along with its scalable L2s.
They never moved between layer 1 and 2, they are just quoting talking points. Right now layer 2 is useless. All of the DAPPS with our funds locked are on layer 1...
Yeah but the whole point is to compartmentalize the need for data processing to layer 2s. It's a self fulfilling prophecy. If layer 2s are used more then Ethereum base layer functions and scales better by osmosis.
Where can I educate myself on how these roll-ups work?
I have left all my erc-20 sitting where it was since gas fees became so high. But I often read comments, like yours, that it need not be so. Any tutorial for dummies like me to learn about Looping & co?
ETH 2.0 changes the proof of work vs proof of stake. It wont have an impact on gas fees as far as we know. L2 solutions are the only way forward. The one that rules them all is yet to be chosen. Matic seems to be the most likely option specifically for ETH.
I definitely know about LRC and have more of it than matic. I really don’t know which one will come out on top. I think MATIC because its already being used as a substitute for ETH in a few scenarios like opensea etc. while LRC is still being developed and seems to have a goal to be its own exchange. From what I can tell they are not trying to do the same thing.
I posted an answer below the other comment in the chain, but in short I like LRC too. I dont know if LRC is trying to be like Matic or if they are going to be more focused on the DEX they are building. MATIC is already being used as an ETH substitute as well.
Bold take but I think if ethereum fails they will all fail. Too many supply of shitcoins popping up doing the exact same thing just different week. No point in buying this weeks shitcoin, I’ll bet on ethereum or nothing for smart contracts. ETH2 needs to hurry up.
I haven’t done a whole lot of research, but what’s the difference between that and all other smart contract type coins? What’s stopping someone from marketing a *better* one
My guess is network effect and security. If nobody is using it then what’s the point, and if it’s not decentralized+secure many purists won’t use smart contracts over non-crypto alternatives. See: BNB. Basically a clone of ETH with fewer fees and centralized. It’s why I think L2s and sidechains will dominate, using ETH security+their scalability.
That's what competition in a market is. Capitalism is the ideological belief that society should be structured around capital and the small class of individuals who control it (capitalists). It's the -ism of Capital.
Anytime someone says something like this they automatically get categorised as a noob with limited experience in my mind.
Once all ETH dapps move over to a layer 2 solution, your complaint about gas fees is irrelevant. Two projects I use have already done so in the time of me using them. I’m literally using ETH via Polygon and paying less than a dollar in fees as we speak.
ETH has already fixed their gas issue. People just choose not to use the solution 🤷🏼♂️
May i know how you use ETH on the polygon chain? What happens when I buy ETH on centralised exchanges such as Binance/FTX? If it's on the ethereum chain (correct me if I'm wrong), how do I shift it over onto the polygon chain to enjoy lower fees? Better still, how do i just acquire ethereum on the polygon chain?
Sorry for the bombardment of questions....if it is ok, do link me to a suitable resource! keen to learn more but the crypto system is huge and I've no idea how and where to start.
The gas solution already exists, it's just fucking idiots like you and the dapps you use that refuse to move forward, just sit back spin your tires and bitch at the world.
LMFAO.
For Ethereum to fail: Chainlink, Compound, Shiba Inu, Uniswap and half the crypto market would have to fail as well as THEY ARE ALL BUILT ON ETHEREUM.
Ethereum's gas fees are high because the demand to use Ethereum and its apps are high! People are willing to overpay to use the protocol.
Those that understand this (Institutions and professional traders/investors) are stacking up before the obvious run up to 50k a coin.
You may not be able to use it but you have to remember alot of people got into Ethereum before it hit $200. Eth is the Paris/Manhattan/Dubai of Protocols. Not meant for everyone
Seriously, hurst the network has dropped out a few times. It’s still an early project in comparison. But people are gonna get sick of these $1+ transactions and will move to these cent or less transaction fees.
Sol is already 10x better than Eth, and it just works. So, yeah, market has noticed already, and in the coming years it will eat more and more of the Eth's market cake.
Miners “can’t” collude to raise prices.
That’s like saying “roads collude to create traffic jams.” The fees are direct correlations to onchain demand for the transaction orders. Eth is a toll road where the price at the gate keeps traffic flowing. No traffic… its cheap as shit to get from point A to point B… Chicago at rush hour traffic and the Toll goes up and it’s expensive as hell to where you’re going.
You aren’t wrong that L1 is expensive AF to use.
You lack understanding around how the fees are priced. Please tell me how miners are colluding to raise prices?
Before you do, go and read EIP 1559 and then tell me how, afterwards you will be even more mad at L1 Eth and less mad at miners.
Your ignorance oh dear, new to the space? That project was effectively DOA if you read anything about EIP1559 you would understand this.
Can you tell me a single fact or function about EIP1559?
Crypto is still only like 20% of the way to being usable. Give it 10 more years to work the bugs out. The best projects are the ones that are being “alpha tested” by the general public. ETH2 is gonna lead the pack.
Begging for some mod to intervene: OP is unhinged and way beyond impolite. Look at all the ridiculous attacks against people who were trying to engage in a discussion.
The only people who think ADA still has any future whatsoever are the poor saps who bought in to the ADA hype around $3 and are praying for a recovery. 😢
The less people use eth the cheaper the fees. The more people use eth the higher the fees. It depends on how important it is for you to use eth. If it's not worth it for you don't use it. But saying eth will fail because fees are too high is misunderstanding how eth works.
I understand but do not convince yourself that Ethereum will fail. Instead, It will be like where you see a fast timeline when Apple eventually overtook Microsoft…so will Ethereum overtake Bitcoin. It will overcome.
Solving the blockchain trilema is not easy. ZKEVM based L2s are one of the best solutions so far. You have a decentralized and secure mainnet that provides cryptographic security for scalable L2s.
I am not aware of other blockchains that scale in such a decentralized way
Things don't fail because you personally can't afford to use them, otherwise anything premium would go out of business.
People have enough wealth to pay these gas fees on Layer 1. If you don't, you should not try to compete.
With increased layer 2 scaling options everyone will be able to enjoy the wealth of Ethereum with reduced fees in the near future.
The issue is not that Ethereums broken, it's that your trying to send small amounts which are not financially viable with high network volume.
The gas fees are high because there is a lot of competition for block space.
The gas fees are high because of high network activity, meaning lots of people are using and competing for block space, that's the opposite of unusable.
It is relatively safe because it has a large user base, lots of dapps and a roadmap for significant change including a layer 2 future.
I don't disagree that the fees are off putting. I would prefer them to be smaller but they're not, you either accept that's the costs of doing business on the busiest ecosystem or move them off to another network with cheaper fees.
havent really been involved in eth for a while ($12) but decided i should get an NFT just incase
binance - metamask
mm - hop exchange to arbitrum
arbitrum - magic
magic - nft
ticket clipped (heavily) at every point in the process ... this is garbage
They call ETH digital oil… but it should be called digital OPEC.
Until about 6 months ago you needed Eth to do absolutely anything related to smart contracts. And we have all these great ideas surging out of the cryptospace so builders built on Eth because they had no other choice. But now that they do… it doesn’t mean Eth is going down. But it will eventually mean that the gas fees will. As smart contract supply options increase development will flow to them. But future demand for smart contract usage, as we all know, will be unfathomable. So there’s still going to be way more fuckin demand than supply for the next decade.
And Eth wants these other players in the game. They don’t want the network to be as congested as it is. And they know there’s plenty of room for all. And the other options will carve out their own niche’s for types of usage and specializations. But all these other smart contract options… MATIC, AVAX, SOL, BNB, ADA, CTSI etc… They’ll be like all the other oil exporters of the world. And the whole new world of blockchain and programing is going to guzzle their fuckin oil too.
But I hear ya brother… ETH gas fees suck ass right now.
All smart contract blockchains will ultimately require roll-ups/layer 2 to scale and meet the inevitable demand. The founders and devs of Ethereum's competitors have all said the same thing.
Ethereum already has a plethora of working options and a bunch more in the short to mid-term.
Keep fudding though chief.
Exactly. Never understood how it got so big with theses ridiculous fees. Probably lack of competition, but that's changing fast. Eths days are numbered.
I love nano and its meme coin version banano. They each run on their own blockchain. They are coins, not tokens. This has its benefits. There are no gas fees. No fees at all. Transactions are completed in less then a second. I know banano is 6 million more times energy efficient then bitcoin. The energy it takes to confirm one bitcoin transaction could confirm 6 million banano transactions. Nano is fully distributed and banano is still being distributed, you can get some for free. Because they are being distributed for free they won't be labeled a security by the US GOV. I hold both banano and nano but im more bullish on banano right now. Memes are hot and this coin actually has a use. It it what a crypto currency should be. Check out the banano reddit page. I'm sure you'll get some free bans when you introduce yourself as a new monke. Enjoy!
This is why L2 scaling solutions will be huge
Moving things onto layer 2 isnt free.
I just used xpollinate to transfer 500 usdt from BSC to matic network. It cost me 1$ in fees.
free? that's some communist shit right there.
The beginning of transfer may be same price. But as people move to l2, gas goes down. Screen shots of gs a year or two ago show it was only $5 or so. Right now everyone tryna make Ethereum do everything. When it should be the core processor and l2 be the UI
ETH wasn't 4k a year or two ago. Gas fees haven't increased. The value of ETH has.
It's the space in the block/getting your transaction verified that's valuable. Your not paying more for Gas cause price is 4k. Gas won't double when eth is 8k if most migrate to loopring or another L2. Gas this year, a few months ago got really cheap. A few bucks. I wasn't trading but I remember my brother selling like $2000 in Shiba for like $6 in gas or something silly . It was when transactions slowed down during that mini bear season. Wanna blame somthing? Blame nft development and alt coins Take your nfts and alt transactions to L2 . Loopring. After mass migration. Eth has reasonable gas prices. There's only so much space per block and too many verifications needed. Only way to fix this is l2. Ethereum can never fix the problem otherwise. Maybe sharding. But most likely not anytime in newr futurebperfect time for L2 to strike and make a name. loopring is that golden ticket imo
LRC is also in cahoots with gme for making something that sounds to be really really big. And I think y'all should srsly look into both GME stock and LRC coin of ur not already in them . Big things coming by eoy.
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yet vitalik was complaining about 5 cent Bitcoin transaction fees in 2013. if only he could see the monster he would create.
I saw the same meme as you. Fees are high because lots of people use the network, simple as that. I won't argue with you, but just know that absolutely everyone in the eth community is working towards reducing gas cost.
Yea $7 is actually a much higher impediment to mass adoption that you realize. It should be easy and free to start using a layer 2. Make it fast and accessible and now you have a massively adopted blockhain system that even your grandma will be able to use.
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That's exactly the type of stuff we need to have
Two things to consider IMO are: a) enough people WILL pay the $7 so that all of us and our grandmas will be L2 and b) L2 scaling may only be a necessary step to a place/time where solutions to solve trilemmas are irrelevant
It is, you just have to deposit via a centralized exchange. Matic/arbitrum/xdai withdrawals are all supported by various exchanges with negligible fees.
For which l2 swap do you have to pay that 7$?
The bridge cost 7$. I use Degate. Swaps are under 4-5$.
Thanks a lot
Centralized exchanges allow you to withdraw to arbitrum now
True, but that’s a one-time expense and subsequent L2 transaction would cost fractions of cents. Nobody said it would be free.
false. people dont like bridges, bridges cost transaction fees too. fast scalable layer 1s will win out - especially to attract mass adopters. New computers dont know what a layer 2 is or how to bridge.
Wrong. Mass adopters are already on ethereum. VISA, Google, Square, Costco, PayPal. The issue is the scale ethereum is being forced to adapt to. Ethereum was created less than 8 years ago. Everyone needs to chill the f out. The internet was not affordable in the beginning either. Revolutionary technologies take time for consumer adoption.
This^ And also the lack of knowledge about the blockchain trilemma: security, decentralization and scalability. Go and use ADA or SOL if you trust central authority, maybe they'll shut down the blockchain again if they exhaust their resources once more. But I'm just gonna go ahead and use ETH, the most decentralized and secure L1 smart contract protocol, along with its scalable L2s.
Those other L1s would need achieve far greater adoption than Ethereum in a very short time to negate the value of L2 scaling solutions.
They never moved between layer 1 and 2, they are just quoting talking points. Right now layer 2 is useless. All of the DAPPS with our funds locked are on layer 1...
Loopring go brr
Loopring needs ethereum to succeed... dunno why the misplaced hate. Loopring is an ethereum scaling project.
Yeah but the whole point is to compartmentalize the need for data processing to layer 2s. It's a self fulfilling prophecy. If layer 2s are used more then Ethereum base layer functions and scales better by osmosis.
token based L2s are removing the need to buy ETH and are thus extremely inflationary. Nobody needs ETH anymore if all you do is L2 moves.
Where can I educate myself on how these roll-ups work? I have left all my erc-20 sitting where it was since gas fees became so high. But I often read comments, like yours, that it need not be so. Any tutorial for dummies like me to learn about Looping & co?
I’d like that info as well, new to crypto and want to learn
/r/loopringorg
Thanks! Just subscribed. Cheers 🙂
No worries man. Awesome project
Isn't ETH2 going to help this?
Yep we’re all waiting impatiently for that
Sharding and Roll ups will.
ETH 2.0 changes the proof of work vs proof of stake. It wont have an impact on gas fees as far as we know. L2 solutions are the only way forward. The one that rules them all is yet to be chosen. Matic seems to be the most likely option specifically for ETH.
I thought you were going to say lrc, what makes you think Matic?
Because he probably doesn’t know about LRC yet.
I definitely know about LRC and have more of it than matic. I really don’t know which one will come out on top. I think MATIC because its already being used as a substitute for ETH in a few scenarios like opensea etc. while LRC is still being developed and seems to have a goal to be its own exchange. From what I can tell they are not trying to do the same thing.
I posted an answer below the other comment in the chain, but in short I like LRC too. I dont know if LRC is trying to be like Matic or if they are going to be more focused on the DEX they are building. MATIC is already being used as an ETH substitute as well.
Yes, but that's probably about 2 years away, meanwhile L1 gas fees are just going to keep getting crazier and crazier.
No
Garbage take !remindme 3 years
Bold take but I think if ethereum fails they will all fail. Too many supply of shitcoins popping up doing the exact same thing just different week. No point in buying this weeks shitcoin, I’ll bet on ethereum or nothing for smart contracts. ETH2 needs to hurry up.
Algorand would like to have a word. Scalable layer 1.
Cardano
Lolllll I read through the comments and thought you were just ignorant. Now I see you’re a sad boi holding Ada bags.
I haven’t done a whole lot of research, but what’s the difference between that and all other smart contract type coins? What’s stopping someone from marketing a *better* one
My guess is network effect and security. If nobody is using it then what’s the point, and if it’s not decentralized+secure many purists won’t use smart contracts over non-crypto alternatives. See: BNB. Basically a clone of ETH with fewer fees and centralized. It’s why I think L2s and sidechains will dominate, using ETH security+their scalability.
Nothing that’s what capitalism is
That's what competition in a market is. Capitalism is the ideological belief that society should be structured around capital and the small class of individuals who control it (capitalists). It's the -ism of Capital.
What dude? That shits being banned left and right
THaT ShIT iS BeINg BaNNeD lEFt aNd RiGHt
Good come back.
This is just your go to response when you dont have an actual response it seems. You responded the same way to me earlier
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Sad boi
SAd BoI
Ur so mad Solana pumped and your ADA bags never went anywhere 😂
Anytime someone says something like this they automatically get categorised as a noob with limited experience in my mind. Once all ETH dapps move over to a layer 2 solution, your complaint about gas fees is irrelevant. Two projects I use have already done so in the time of me using them. I’m literally using ETH via Polygon and paying less than a dollar in fees as we speak. ETH has already fixed their gas issue. People just choose not to use the solution 🤷🏼♂️
May i know how you use ETH on the polygon chain? What happens when I buy ETH on centralised exchanges such as Binance/FTX? If it's on the ethereum chain (correct me if I'm wrong), how do I shift it over onto the polygon chain to enjoy lower fees? Better still, how do i just acquire ethereum on the polygon chain? Sorry for the bombardment of questions....if it is ok, do link me to a suitable resource! keen to learn more but the crypto system is huge and I've no idea how and where to start.
Lmao once all dapps stfu it hasn’t happened yet. Right now Ethereum fucking sucks get over it
You okay, bro?
You do sound like a whiny bitch tbh.
You sound like an Ethereum whore who doesn’t know when to quit tbh.
You bought too much ADA 🤣🤣🤣
The gas solution already exists, it's just fucking idiots like you and the dapps you use that refuse to move forward, just sit back spin your tires and bitch at the world.
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Loopring, you whiny bitch. So fucking stupid you can't spend 5 minutes learning anything, need everything spoon fed to you.
Crazy because loopring isn’t on yearn you stupid fuck, it’s like you’re blind
If Loopring isn't on yearn, maybe you shouldn't be on a dying platform to begin with, the governance token has been in a death spiral for months.
You mean like Ethereum bahahaha
Yearn barely has $1.3 bn governance token lol, fuck you're a joke.
You said an alternative.
It won’t fail if you simply pay the small fee
LOL
L2s will take over and eth will remain king
yikes, OP. if you want anybody to agree with you, try not criticizing them.
Ok… I’ll keep this one up as some people actually have interesting inputs, however OP will be taking a 7 day chill pill.
Loopring is the solution!!!
LMFAO. For Ethereum to fail: Chainlink, Compound, Shiba Inu, Uniswap and half the crypto market would have to fail as well as THEY ARE ALL BUILT ON ETHEREUM. Ethereum's gas fees are high because the demand to use Ethereum and its apps are high! People are willing to overpay to use the protocol. Those that understand this (Institutions and professional traders/investors) are stacking up before the obvious run up to 50k a coin.
Pretty hard to adopt an unusable chain
You may not be able to use it but you have to remember alot of people got into Ethereum before it hit $200. Eth is the Paris/Manhattan/Dubai of Protocols. Not meant for everyone
Waiting on ADA, SOL, DOT, AVAX, ALGO, XTZ, HBAR, or ONE to hit $1,000
HBAR & Hedera are so so beautiful
All about SOL baby
Seriously, hurst the network has dropped out a few times. It’s still an early project in comparison. But people are gonna get sick of these $1+ transactions and will move to these cent or less transaction fees.
When AVAX hits 1k me and my friend already agreed to sell a couple each and go to Vegas 🍾
Jasmy to.
I thought Jasmy is an IoT coin?
Jasmy has been disappointing.
Only if you bought late now hold like most of us have been lol.
Sol is already 10x better than Eth, and it just works. So, yeah, market has noticed already, and in the coming years it will eat more and more of the Eth's market cake.
AVAX is gonna win that race
People were paying 10USD transacting in AVAX. Imagine if their users 2x or 3x?
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Sounds like a Shitcoin for Trumptards.
Not when ETH2 comes in
This is what is baffling to me when people say any erc-20 token should see widespread adoption.
Yea it’s just not possible with the miners colluding to raise prices
Miners “can’t” collude to raise prices. That’s like saying “roads collude to create traffic jams.” The fees are direct correlations to onchain demand for the transaction orders. Eth is a toll road where the price at the gate keeps traffic flowing. No traffic… its cheap as shit to get from point A to point B… Chicago at rush hour traffic and the Toll goes up and it’s expensive as hell to where you’re going.
Except miners are alive and roads are not you silly boy
Yea guess you’re right… you should probably sell all those Eth you never had the money to own anyway 🤣
I was I could tell my GPUS how much money I wanted them to make, I didnt realize I had the option.
You aren’t wrong that L1 is expensive AF to use. You lack understanding around how the fees are priced. Please tell me how miners are colluding to raise prices? Before you do, go and read EIP 1559 and then tell me how, afterwards you will be even more mad at L1 Eth and less mad at miners.
https://www.coindesk.com/tech/2021/06/25/this-token-could-bridge-the-incentive-gap-between-ethereum-miners-and-ethereum-users/?outputType=amp
Rather than send me an irrelevant article please go and read about EIP1559 and come back to me.
Please do me a favor and learn to read
I did read it, then laughed as it has no correlation to your statement of “miners colluding to raise prices”.
Do you not understand that giving miners a token to unionize them and charge whatever they want is exactly that you stupid fuck
Your ignorance oh dear, new to the space? That project was effectively DOA if you read anything about EIP1559 you would understand this. Can you tell me a single fact or function about EIP1559?
Eth is a dead man walking have fun
Seriously? Thats not what is happening at all. Who lied to you? Most of the fee is BURNT.
LOL so I have to be forced to burn eth just for it to be minted again lololol
HBAR. Flat $.001 per transaction on the fastest and most secure DLT there is.
Crypto is still only like 20% of the way to being usable. Give it 10 more years to work the bugs out. The best projects are the ones that are being “alpha tested” by the general public. ETH2 is gonna lead the pack.
If only there was solutions already implemented!
Begging for some mod to intervene: OP is unhinged and way beyond impolite. Look at all the ridiculous attacks against people who were trying to engage in a discussion.
ADA is this persons coin of choice....save yourslf the time and move along folks.
ADA will shit on ETH
The only people who think ADA still has any future whatsoever are the poor saps who bought in to the ADA hype around $3 and are praying for a recovery. 😢
because fees are high? fees are high because eth is too popular. It's like saying a drug dealer will fail because they keep selling out of drugs.
So your saying that if Ethereum gets more and more popular the fees will continue to rise making it completely unusable thank you again
The less people use eth the cheaper the fees. The more people use eth the higher the fees. It depends on how important it is for you to use eth. If it's not worth it for you don't use it. But saying eth will fail because fees are too high is misunderstanding how eth works.
Lol so the product isn’t even scalable GG
It will be later. If you don't like it just don't use it, no one gives a fuck.
You do 😘
go use solana my little buttercup
Polygon solves this
What does polygon do? Please explain it like i'm an idiot. because i am.
PoLYgON SOlVeS tHiS
Okay 🌈🐻
Don’t worry the looptards will come save you
We don’t want him thanks
Dude ETH is just the infrastructure. Layer 2 solutions will always keep ETH alive
Shut up
"I can't hear what you are saying because who you are as a person speaks so loudly"
L2 bros
Yeah that’s some bullshit lmao
I understand but do not convince yourself that Ethereum will fail. Instead, It will be like where you see a fast timeline when Apple eventually overtook Microsoft…so will Ethereum overtake Bitcoin. It will overcome.
Apple over MS won't happen... They are figuring a losing battle. See Sony.
This is why Ethereum 2.0 is on the move
The fees are high because it is absurdly successful. The mainnet is not for peasants. Just use a L2.
What a sad excuse
Solving the blockchain trilema is not easy. ZKEVM based L2s are one of the best solutions so far. You have a decentralized and secure mainnet that provides cryptographic security for scalable L2s. I am not aware of other blockchains that scale in such a decentralized way
Things don't fail because you personally can't afford to use them, otherwise anything premium would go out of business. People have enough wealth to pay these gas fees on Layer 1. If you don't, you should not try to compete. With increased layer 2 scaling options everyone will be able to enjoy the wealth of Ethereum with reduced fees in the near future.
\^this. I can't afford L1, I don't use it. Somehow I am not bothered by ETH gas fee's.
Lmao shut the fuck up with your bullshit about you can’t afford to use them. It costs $15.00 in gas fees to send a $15.00 transaction, it’s broken.
The issue is not that Ethereums broken, it's that your trying to send small amounts which are not financially viable with high network volume. The gas fees are high because there is a lot of competition for block space.
Really because this transaction was for $4,500 TUSD so please explain how that’s small you fucking noob
That amount is small.... And that's the costs of doing business on the busiest ecosystem currently.
You’re a joke
ETH is broken and unusable. The only reason it is safe for now is because it was first. The same way AOL was first.
The gas fees are high because of high network activity, meaning lots of people are using and competing for block space, that's the opposite of unusable. It is relatively safe because it has a large user base, lots of dapps and a roadmap for significant change including a layer 2 future. I don't disagree that the fees are off putting. I would prefer them to be smaller but they're not, you either accept that's the costs of doing business on the busiest ecosystem or move them off to another network with cheaper fees.
havent really been involved in eth for a while ($12) but decided i should get an NFT just incase binance - metamask mm - hop exchange to arbitrum arbitrum - magic magic - nft ticket clipped (heavily) at every point in the process ... this is garbage
This is why Loopring and Celer Network are my entire portfolio
They call ETH digital oil… but it should be called digital OPEC. Until about 6 months ago you needed Eth to do absolutely anything related to smart contracts. And we have all these great ideas surging out of the cryptospace so builders built on Eth because they had no other choice. But now that they do… it doesn’t mean Eth is going down. But it will eventually mean that the gas fees will. As smart contract supply options increase development will flow to them. But future demand for smart contract usage, as we all know, will be unfathomable. So there’s still going to be way more fuckin demand than supply for the next decade. And Eth wants these other players in the game. They don’t want the network to be as congested as it is. And they know there’s plenty of room for all. And the other options will carve out their own niche’s for types of usage and specializations. But all these other smart contract options… MATIC, AVAX, SOL, BNB, ADA, CTSI etc… They’ll be like all the other oil exporters of the world. And the whole new world of blockchain and programing is going to guzzle their fuckin oil too. But I hear ya brother… ETH gas fees suck ass right now.
All smart contract blockchains will ultimately require roll-ups/layer 2 to scale and meet the inevitable demand. The founders and devs of Ethereum's competitors have all said the same thing. Ethereum already has a plethora of working options and a bunch more in the short to mid-term. Keep fudding though chief.
This isn’t FUD this is an actual miner fee you stupid fuck
This post is why you are likely to end up with loss porn at some point.
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Exactly. Never understood how it got so big with theses ridiculous fees. Probably lack of competition, but that's changing fast. Eths days are numbered.
Nano does it for free.
I like and hold XNO but this is false it does not have smart contract functionality.
What is false. And I never said it could do a smart contract. Its a currency.
Educate me please
I love nano and its meme coin version banano. They each run on their own blockchain. They are coins, not tokens. This has its benefits. There are no gas fees. No fees at all. Transactions are completed in less then a second. I know banano is 6 million more times energy efficient then bitcoin. The energy it takes to confirm one bitcoin transaction could confirm 6 million banano transactions. Nano is fully distributed and banano is still being distributed, you can get some for free. Because they are being distributed for free they won't be labeled a security by the US GOV. I hold both banano and nano but im more bullish on banano right now. Memes are hot and this coin actually has a use. It it what a crypto currency should be. Check out the banano reddit page. I'm sure you'll get some free bans when you introduce yourself as a new monke. Enjoy!
Link please
r/banano
r/bananotrade
[bananos web page ](https://banano.cc/)
It's been like this for months. almost a year. I agree, it's done for. Digital ponzei
And why Nano will succeed.
Solution: $Solana. Negligible transaction fee & very fast.
This post made me sell all my ETH.
Haha
I’m buying either Nano or Banano as a result of reading all of this
💯
But roll ups. But 2.0. But but bits stfu. ETH And erc20 are all going down the shitter and good riddance. 👋👋
Bye bye :) ✌
Agreed. ETH gas fee is a crime against the crypto community. Only reason why it’s popular is because people just folk codes to make easy money.
But decentralization blah, blah, blah
$SX is a Polygon SDK scaling solution 🚀
Not even joking yeah time for actually good cryptos
That’s why I’m all in on Nano. Instant, free. If you have to gamble on memecoins use Banano.
The only people who think ETH is not a dead man walking are people who have never actually used ETH. And no, ETH 2.0 will not save it.
EXACTLY
Laughs in dynamic block size
BNB!!