Gas pump

Ethereum Gas Fees Are Ridiculous, and Why I Believe They Will Only Get Worse Over Time...

By CodyMac50 | MyCripticLife | 13 Feb 2021


There are many reasons to get into Ethereum. And with the price skyrocketing right now, the coin is seeing all time highs.

With the price jump, comes also the gas jump. 

Many believed that Ethereum 2.0 would curb, or even end, the rise of gas prices. But in reality, the gas prices didn't normalize, and some are seeing upwards of $30 or more per move.

I actually believe that this is going to turn into "the rich man's coin". 

Bitcoins transaction fees are high, and it's normal seeing that there are fewer coins available to mine. Supply and demand. But Ethereum must put a cap on those fees, if it wants to get all of society involved in this crypto revolution.

From day one, (in July for me), I stayed away from Ethereum because I was always told that to send Ethereum to a wallet, the wallet needed Ethereum already in it, to pay the gas fees. And seeing them so high on various days, I always decided against it.

As a nearly new crypto user, this is not a good way to conduct business, and a great way to keep people away.

Seriously, to attract attention to crypto, it needs to be fixed. Why? Because Ethereum is the #2 crypto and people see that the price is rising, and want to jump in before it's harder to obtain.

Normalize the transaction fees, and you get more movers...fees continue to climb, you will see people jumping ship, and running to cheaper pastures.

Once the price hits 3 or 4 or 5,000 or more, the transaction fees will climb too, just wait and see...

Please let me know in the comments section how this can be fixed.

Adieu!

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CodyMac50
CodyMac50

I'm Cody and will post about anything christian, crypto, and sometimes crazy...


MyCripticLife
MyCripticLife

I was involved with crypto since 2012, but left after homelessness entered my life. Now I am back, (since July of 2020) and ready to live this crypto life!

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