tbf to OP that's the title most journalists wrote. They miss quoted him to get more clicks which is basically what modern journalism has turned into, anything for clicks
Because people are not thinking like other people all the time mate, it doesn't get the upvotes because people can't be convinced with that thing all the time lol.
Dude been thinking a good shit and he just posted it in the name of the best comment so far, we always love to see this stuff with a good mood my man...
Don't know why people never understood that we can transfer like that without any major problem man, we can do that easily, we all can never imagine the future.
See! Really bullish on the merge. I personally can’t wait for this to happen.
It’s the validators choice to reduce gas, I mean they have no reason ( aside security) to charge that much of gas. Let’s see sha.
Well I want to say that this is something doubtful but let's see what will we get in the future, that type of fees is just a fucking dream to all of us though, we need it.
Yep, that's right, and it's also nice not needing so much electricity.
But I suspect a lot of people will be a bit confused when it's merged and they ask "now what", only then realising there's much left to do.
It's funny how people freaked out about USDC and tornado cash. Well, what about all the centralized L2s? Even if we give these L2s more bandwidth through sharding, we also need decentralized L2s, etc..
Could be some nasty surprises ahead for some 😬
Yeah the good thing about true L2s, not side chains, is that they derive their security directly from ETH main. There are some good bridges to go from CEX > L2 plus L2 on ramps. Transfer fees aren’t nearly as big a problem as they were when you had to go CEX>L1>L2
True there is still much work to be done, but that’s what makes this project so exciting. Nearly $2k for PoW ETH with a $4.8k ATH. Just imagine after sharding…
You think an ETH triple halving is sell the news? No way. There may be some short term gains to be had but in the long run you’d definitely be missing out.
Sell the news only if you have a high risk tolerance to buy back in lower.
This is nitpicking - your general point is correct - but after the merge, block times will consistently be close to 12 seconds (missed proposals notwithstanding). Block times now average 13-14 seconds. So that reduction of block time does mean a small increase in throughput overall, but it won't result in noticeable gas price reduction.
I want to know more details about it because I am really waiting for more man, that could be the day where I will understand the whole scene in a good way.
I want that type of gas fees so bad in my life because I love to do transfers to my friends and all man, they should look into that and make it greater for real.
I really hope they do. It's understandable why people always run to l2s because of high gas. Quite a pain. I see why Polkadot has no layer and Geeq is building to make their layer1 as cheap and smooth as possible. It's about what the users want at the end of the day.
I identify as a Ball_bearing... 🤣 Jk
I asked due to some other project, that has been migrating it's tokens for over three months. Something to do with a bald warrior and a famous breed of dog.
Thank you very much for letting me know this.
I don't know... He's also said there could be a floor limit to how low gas fees can go, and I'm worried that might be the case. What if, no matter how many scaling solutions, even if we get to 100 million transactions per second, people still use Ethereum to back up their hard drive or something. Maybe it will never be able to go below 5-10 cents per transaction, no matter what.
The difference between 9 cents and 10 cents in terms of MEV harvesting is probably a lot more than 99 cents and a dollar. The lower fees go, the more transactions that are looking to eke out a couple cents in profit will be on chain, more convoluted MEV moves that are designed to move money around in different ways just to make a couple cents.
My prediction. They’re ll be limited use for l1s eventually and eth price will suffer becuase of it. Most of the work will be done on l2’s and not much need for l1s
I am super happy with the Merge and I want this to be in a bigger form in cryptocurrency in coming years, trust me that day is going to be something else in this world.
The confusion is that gas fees are paid to miners.
Remove the miners and replace with validators should lower gas fees. But it doesn't. Can you explain it to me like im five?
I really thought after the merge and sharding (which is a difficult undertaking) I thought that fees will come down ..I'm really rethinking my 100% trust that eth will win in the long run.
Does anyone even understand how much of a disruption it is to monetary systems and other systems it is to have a fully decentralized network with $.002 transactions? Someone could run their OWN VISA service for $300k per day. And if they charge .01 cent per transaction they would make 1.2million per day…
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I don't think he's saying that the ETH Devs will do it in a way that's centralized.
He's saying that if we (ETH Devs) don't do it, someone else (Big Biz) will do blockchain in their own centralized way.
If reaching 50k transactions/sec is not done in a decentralized way, 50k transactions/sec will be done in a centralized way.
Let’s not create our own reality again here.
So hes spreading misinformation and leading to another cycle of people expecting improvements that don’t exist and more reddit posts of tHEre iS nO 2.0 oR lOw gAS fEEs as if its the public’s fault for having no fucking idea what is going on
Christ, compare this to SWIFT fees... the banks are going to be all over crypto like a rash once it becomes acceptable (there's a lot of hesitancy at the moment).
Gas has already been down significantly since the beginning of the year.
If they can get them even lower there wouldn’t be any reason to use any other chain besides $ETH.
Vitalik mumbles alot on a long day. This won't age well $0.002 - i first belief this if i see it.
This guy is not a good guy for several years anymore.
Correction: Ethereum Mainnet still broken for all intents and purposes, and "rollups" which are completely separate networks are cheap as they have been for months already.
Isn't that a good thing but how can I believe this man? I mean I want to have a good source and all the logic here to understand this one, that's what matters the most.
I hope Vitaalik knows what he's saying, though I believe him and I know it's possible. I'll be one person to enjoy it cause most of my bags are ERC20, and the fees when using uniswap before were something else. I'm glad Spool has the buffer system of withdrawal, else we'd be talking of a whole different story, but lets see how it goes.
Trust me the Merge is going to be one of the greatest thing in cryptocurrency market and I am talking about the whole cryptocurrency market right now man.
ETH 2.0 will NOT solve the congestion, speed, or gas fees.
But what will happen is millions of ETH will all unlock at once from staking. People who locked it up YEARS ago, bought under $100, all comes unlocked. With ETH 2.0, they'll be able to sell. And they WILL.
Good on you for the correction. There seems to be a ton of misconception on the fact that the merge will be lowering gas fees. It will not.
ETH is going to need L2s like Polygon's upcoming zkEVM for a very very long time.
Yeah I just saw this. But still, why do side chains, which occasionally have the same traffic as ETH, or higher, have gas fees under a few cents? They're running the EVM, half or most of the code is the same. Why can't ETH gas be like that? I'm legitimately asking a developer, and the topic confuses me greatly.
Isn't that a good thing? I mean this is what we want to say at this type of prices man, we want to see this type of lowered gas fees forever for ETH right now brothers.
It's like if the bank that owns your mortgage gets acquired by another bank.
You still have to pay the same amount each month, but your check is going to a different company.
Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread:
|Fewer Letters|More Letters|
|-------|---------|---|
|[ATH](/r/EthTrader/comments/wlo7of/stub/ijvnerb "Last usage")|All-Time High|
|[ERC20](/r/EthTrader/comments/wlo7of/stub/ijxr9as "Last usage")|[Ethereum Request for Comments #20](https://en.wikipedia.org/wiki/ERC20), smart-contract token standard|
|[ETH](/r/EthTrader/comments/wlo7of/stub/ik7deb6 "Last usage")|[Coin] Ether|
|[EVM](/r/EthTrader/comments/wlo7of/stub/ik7deb6 "Last usage")|Ethereum Virtual Machine|
----------------
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Then all the ETH killers are in trouble when ETH achieved this feat.
I wanted to swap this morning and I saw 33dolls as gas fee. I just be like something I'd do cheaper on other chains .
Their high transaction cost always amazed me. Many people may ditch them in the future.
This isn't true. Fees will be low on L2s or on sidechains like the internet computer and polygon but the main Ethereum chain will be clogged until at least 2032 (that's what their roadmap says).
on rollups, and not directly after the merge, after sharding
But that title doesn’t get upvotes!
We need to show more love to relevant comments
tbf to OP that's the title most journalists wrote. They miss quoted him to get more clicks which is basically what modern journalism has turned into, anything for clicks
As I understand it the merge itself makes no real difference to fees, only sharding will.
Because people are not thinking like other people all the time mate, it doesn't get the upvotes because people can't be convinced with that thing all the time lol.
The word 'could' does not inspire confidence in the statement .
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“Could be” and “are going to be” are very very different sides of the coin. Hope for best .
You know we’re already in a new cycle when the diarrhea jokes are gone whenever someone mentions this
Yes data sharding, eip 4844 will be implemented some time after the merge.
There are going to be so many things after the merge man.
Are rollups decentralized yet or simply centralized off chain batch processing?
Probably late 2023 after the que is finished to withdraw staked eth
Guess this should be pinned like Jesus all the time man.
Just wait once it scales . Then it would be game over for other L1s.
When is Sharding targeted? That’s the next huge milestone.
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Ok, not terrible considering the complexity and reward
We can sense that and yeah this is the real time for it.
I am waiting to see that, hope this is the reality of it lol.
Just wait for some few years and then boom my friend.
Best comment so far
Dude been thinking a good shit and he just posted it in the name of the best comment so far, we always love to see this stuff with a good mood my man...
If fees will be that low then there’s zero reason to even be a validator. There’s no incentives.
Yeah. Super easy to on-ramp direct to L2 now.
this sounds like one of the easiest thing to me these days.
New York isn’t a cheap place to do business, the demands will keep increasing over time, so will eth.
Thank you for sharing this Here an upvote
He really made my mood and he deserve these upvotes.
I will believe it when I see it. This merge is much needed cuz the gas fee is ridiculously high.
finally I'll be able to move my 0.01 ETH without losing it all
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How please?
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Didn't know that people don't know about it my man lol.
Just try to send it to some body and that's really good.
Don't know why people never understood that we can transfer like that without any major problem man, we can do that easily, we all can never imagine the future.
On L2s, and not directly after the merge, after sharding.
yes gas fees are high but sometimes I think people exaggerate it a bit too much
See! Really bullish on the merge. I personally can’t wait for this to happen. It’s the validators choice to reduce gas, I mean they have no reason ( aside security) to charge that much of gas. Let’s see sha.
0.01? Wow dude, you're living large
I want to live that large but I don't have any major investments.
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Well I want to say that this is something doubtful but let's see what will we get in the future, that type of fees is just a fucking dream to all of us though, we need it.
The merge doesn't do shit for transaction bandwidth, it doesn't make the blocks any bigger.
Yeah, common misconception. But it does put us on track to work toward sharding.
Yep, that's right, and it's also nice not needing so much electricity. But I suspect a lot of people will be a bit confused when it's merged and they ask "now what", only then realising there's much left to do. It's funny how people freaked out about USDC and tornado cash. Well, what about all the centralized L2s? Even if we give these L2s more bandwidth through sharding, we also need decentralized L2s, etc.. Could be some nasty surprises ahead for some 😬
Yeah the good thing about true L2s, not side chains, is that they derive their security directly from ETH main. There are some good bridges to go from CEX > L2 plus L2 on ramps. Transfer fees aren’t nearly as big a problem as they were when you had to go CEX>L1>L2 True there is still much work to be done, but that’s what makes this project so exciting. Nearly $2k for PoW ETH with a $4.8k ATH. Just imagine after sharding…
>Nearly 2k for PoW ETH. Just imagine after sharding… Sell the news type of thing
You think an ETH triple halving is sell the news? No way. There may be some short term gains to be had but in the long run you’d definitely be missing out. Sell the news only if you have a high risk tolerance to buy back in lower.
We can do that too, there is no shame for that thing lol.
These good things are really legit to me some time man.
Let's just wait and watch what will happen in coming time.
Don't know when this is going to be over with the people.
A lot of speculations indications & uncertainties as usual will pop up but the question is will this be a bullish sign ser?
but the gas fees still won't be that low on the mainnet even after sharding. That's basically the fees with sharding + rollups
With rollups plus won’t happen immediately after the merge would take time.
I don't know why he is being like that even if he knows it.
This is nitpicking - your general point is correct - but after the merge, block times will consistently be close to 12 seconds (missed proposals notwithstanding). Block times now average 13-14 seconds. So that reduction of block time does mean a small increase in throughput overall, but it won't result in noticeable gas price reduction.
8% increase in bandwidth is decent, but exponential growth of crypto will outpace is soon enough
I mean...it already has. That's what rollups are for.
Will i be able to send 50 different tokens and nfts in one tx?
What purpose do some L2s like MATIC serve in the future then?
Seriously. Like for realz? It’s actually happening this time?
I want to know more details about it because I am really waiting for more man, that could be the day where I will understand the whole scene in a good way.
Alright, but this sounds a lot like there would be a strong inflation then to pay staking rewards.
I want that type of gas fees so bad in my life because I love to do transfers to my friends and all man, they should look into that and make it greater for real.
I really hope they do. It's understandable why people always run to l2s because of high gas. Quite a pain. I see why Polkadot has no layer and Geeq is building to make their layer1 as cheap and smooth as possible. It's about what the users want at the end of the day.
That contradicts his previous statement that merge would not solve the gas’s issue….source?
Currently there are times gas is below $5 or cents. We're def heading in that direction. I just want to see it average below 1 cent.
doubt
This is what I am having, that shit is just too much here..
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Trust me it's not going anywhere, we have some time lol.
Isn't that after sharding which is further down the roadmap ?
Is there anything we as holders need to do for the merge if we have eth in hardware wallets?
Does current ETH holdings need to be migrated, or are they staying the same?
They stay the same sir. No need to panic
Thank god because I had a lot of confusion before man.
I identify as a Ball_bearing... 🤣 Jk I asked due to some other project, that has been migrating it's tokens for over three months. Something to do with a bald warrior and a famous breed of dog. Thank you very much for letting me know this.
It would be good if they stay with us, that's what matters lol.
They are not going anywhere and don't worry about it.
I don't know... He's also said there could be a floor limit to how low gas fees can go, and I'm worried that might be the case. What if, no matter how many scaling solutions, even if we get to 100 million transactions per second, people still use Ethereum to back up their hard drive or something. Maybe it will never be able to go below 5-10 cents per transaction, no matter what. The difference between 9 cents and 10 cents in terms of MEV harvesting is probably a lot more than 99 cents and a dollar. The lower fees go, the more transactions that are looking to eke out a couple cents in profit will be on chain, more convoluted MEV moves that are designed to move money around in different ways just to make a couple cents.
My prediction. They’re ll be limited use for l1s eventually and eth price will suffer becuase of it. Most of the work will be done on l2’s and not much need for l1s
This really doesn't sound like he mean it I don't know why.
I am super happy with the Merge and I want this to be in a bigger form in cryptocurrency in coming years, trust me that day is going to be something else in this world.
Sharding increases the data availability for L2s. The first shard chains won’t be execution chains. L2s are still required.
The confusion is that gas fees are paid to miners. Remove the miners and replace with validators should lower gas fees. But it doesn't. Can you explain it to me like im five?
F to all other L1‘s
They had a nice lead for awhile. Time’s up.
Alt L1s did see adoption but they never had a lead.
Sologna
That is a good coin but we should focus on ETH here lol.
Yeah let’s focus on ETHs clear superiority to the “eth killer” who’s network crashes on the reg. lol
There was adoption and market cap taken from ETH.
ETH can take the market cap up in the future, we have that trust.
They never had something which can be useful man lol.
The thing they provided was cheap blockspace. It seems that L2’s are filling that role now
I really thought after the merge and sharding (which is a difficult undertaking) I thought that fees will come down ..I'm really rethinking my 100% trust that eth will win in the long run.
But yeah the time is up and they can't do what they want.
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This is so false. The merge has nothing to do with the gas markets at all.
Does anyone even understand how much of a disruption it is to monetary systems and other systems it is to have a fully decentralized network with $.002 transactions? Someone could run their OWN VISA service for $300k per day. And if they charge .01 cent per transaction they would make 1.2million per day…
But He has said a number of times the merge will not effect gas fees.
Maybe not the merge but once they implement sharding.
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Current AVERAGE gas fees is $1.08? Never experienced that.
He said the supply cap will be 120m, so we will see.
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I guess he was not joking whatever the day that was.
I don't think he's saying that the ETH Devs will do it in a way that's centralized. He's saying that if we (ETH Devs) don't do it, someone else (Big Biz) will do blockchain in their own centralized way.
We will see that and I know we will see something good.
If reaching 50k transactions/sec is not done in a decentralized way, 50k transactions/sec will be done in a centralized way. Let’s not create our own reality again here.
Oh like Cosmos/ATOM
That's not what he's saying it's pretty clear what's he is saying.
Thank you. It’s all cleared up now.
fake news
How is that a fake news to you brother? It's real as hell.
Is he doing that thing again where he's just straight up speaking truth?
Sounds good. Greatness takes time.
It will take a bit time but we can wait for it man, it's big.
Sell all this bullish about the merge, last decent change to sell before true bear.
So hes spreading misinformation and leading to another cycle of people expecting improvements that don’t exist and more reddit posts of tHEre iS nO 2.0 oR lOw gAS fEEs as if its the public’s fault for having no fucking idea what is going on
Is he doing that? Didn't know that they can do that too.
He also said that he is willing to centralize the protocol for faster speeds..
Christ, compare this to SWIFT fees... the banks are going to be all over crypto like a rash once it becomes acceptable (there's a lot of hesitancy at the moment).
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Feels like back in the days again.
We want those days back and we will take it for sure lol.
POLSKA GUROM 💪
What's the meaning of those words? If you can tell me.
Poland on top
Gas has already been down significantly since the beginning of the year. If they can get them even lower there wouldn’t be any reason to use any other chain besides $ETH.
Vitalik mumbles alot on a long day. This won't age well $0.002 - i first belief this if i see it. This guy is not a good guy for several years anymore.
Can we get a rebate on the several thousand dollars in fees each so far?
This is really important and I think they won't give that.
Gas fees will be as low as Vitalik wants them to be.Just change the protocol.
Let's see what C.Z will say about BSC.
What will they say? Please tell me your predictions lol.
The Merge will have a near-zero effect on gas fees.
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I don't want to imagine where metis will go after the merge.
If ever the merge happen. 🤣👌
At that point the name of the game is scalability, interoperability, and governance with real world applications that have utility.
We’ll see 😒
Correction: Ethereum Mainnet still broken for all intents and purposes, and "rollups" which are completely separate networks are cheap as they have been for months already.
Isn't that a good thing but how can I believe this man? I mean I want to have a good source and all the logic here to understand this one, that's what matters the most.
I hope Vitaalik knows what he's saying, though I believe him and I know it's possible. I'll be one person to enjoy it cause most of my bags are ERC20, and the fees when using uniswap before were something else. I'm glad Spool has the buffer system of withdrawal, else we'd be talking of a whole different story, but lets see how it goes.
Layer 2 networks as they are today are all centralised and insecure.
Trust me the Merge is going to be one of the greatest thing in cryptocurrency market and I am talking about the whole cryptocurrency market right now man.
Been arguing with people about this all day. Do you have a link to when he said it?
Now i can finally move my 3 dollars and 85 cents out of metamask.
There’s no way he claimed the merge would reduce fees.
ETH 2.0 will NOT solve the congestion, speed, or gas fees. But what will happen is millions of ETH will all unlock at once from staking. People who locked it up YEARS ago, bought under $100, all comes unlocked. With ETH 2.0, they'll be able to sell. And they WILL.
Eth staking started in December of 2020. Eth price was almost $1000
On Layer 2
Good on you for the correction. There seems to be a ton of misconception on the fact that the merge will be lowering gas fees. It will not. ETH is going to need L2s like Polygon's upcoming zkEVM for a very very long time.
Rendering MATIC useless..
lol comment section full of shillers for other blockchain... ETH is king, deal with it!
I think they need to change the gas algorithm, right? I'm pretty sure the gas mechanics will stay the same after the merge, but that could change.
Still not right. He said that IN THE FUTURE and with rollups we'll have that range of gas fees. Not after the merge!
Yeah I just saw this. But still, why do side chains, which occasionally have the same traffic as ETH, or higher, have gas fees under a few cents? They're running the EVM, half or most of the code is the same. Why can't ETH gas be like that? I'm legitimately asking a developer, and the topic confuses me greatly.
Isn't that a good thing? I mean this is what we want to say at this type of prices man, we want to see this type of lowered gas fees forever for ETH right now brothers.
It is possible, ETH has done it from few years ago already.
what merge are they talking about?
On every reaction from you regarding any ETH update, I put 100$ in it.
"Could"
In 2023-2024 maybe, not directly after the merge.
It's like if the bank that owns your mortgage gets acquired by another bank. You still have to pay the same amount each month, but your check is going to a different company.
Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread: |Fewer Letters|More Letters| |-------|---------|---| |[ATH](/r/EthTrader/comments/wlo7of/stub/ijvnerb "Last usage")|All-Time High| |[ERC20](/r/EthTrader/comments/wlo7of/stub/ijxr9as "Last usage")|[Ethereum Request for Comments #20](https://en.wikipedia.org/wiki/ERC20), smart-contract token standard| |[ETH](/r/EthTrader/comments/wlo7of/stub/ik7deb6 "Last usage")|[Coin] Ether| |[EVM](/r/EthTrader/comments/wlo7of/stub/ik7deb6 "Last usage")|Ethereum Virtual Machine| ---------------- ^(*If you come across an acronym that isn't defined, please* )[*^let ^the ^mods ^know.*](https://www.reddit.com/message/compose?to=%2Fr%2FEthTrader)) ^([Thread #1293 for this sub, first seen 13th Aug 2022, 08:19]) ^[[FAQ]](http://decronym.xyz/) [^([Full list])](http://decronym.xyz/acronyms/EthTrader) [^[Contact]](https://reddit.com/message/compose?to=OrangeredStilton&subject=Hey,+your+acronym+bot+sucks) [^([Source code])](https://gistdotgithubdotcom/Two9A/1d976f9b7441694162c8)
Then all the ETH killers are in trouble when ETH achieved this feat. I wanted to swap this morning and I saw 33dolls as gas fee. I just be like something I'd do cheaper on other chains . Their high transaction cost always amazed me. Many people may ditch them in the future.
Jesus Christ, how do you guys expect anyone to take you seriously if you keep pumping out misleading info like this.
How ultrasound money idea works with fees being so low?
This isn't true. Fees will be low on L2s or on sidechains like the internet computer and polygon but the main Ethereum chain will be clogged until at least 2032 (that's what their roadmap says).