PSA: do not touch ETH right now

in #eth3 years ago (edited)

I think most people already got the memo since this has been going on for a while, but probably worth mentioning since I know someone that thought they were making a small trade for profit and it was ruined by:
ethereum being ethereum.

"Ethereum Average Gas Price is at a current level of 153.27, up from 14.39 one year ago. This is a change of 965.4% from one year ago."

So if you think you found some special deal, you need to make sure the volume accounts for the potential $100 in transaction fees.

if these fees are hurting you should also make it a point to use a tracker and wait until a time of day when they are lower

and in-case you didn't already know, if you attempt to fidget with the fee, the transaction can fail in such a way that it still takes your money, because reasons. To prevent this, you should not reduce the max gas used, and just pay the extortion fee for whatever token is being held hostage.

How ethereum remains so popular is a mystery.