For us on the HIVE blockchain, we are used to zero transaction fees, moving HIVE around here costs nothing and fast. Having to do transaction on the Ethereum blockchain with the increasing high transaction fees is becoming alarming.The other day I had to move 70 USDT and it cost me $8 at the current HIVE price that is 44 HIVE right there, which is not so cool to part with.
Knowing the crypto/blockchain space, I love the fact that it doesn't take long before some genius mind comes up with a solution or alternate plan.
While Ethereum have been the center of the DeFi craze, transaction fees are going to eventually cause investors and devs to seek other chains for cheaper transactions fees.
For us here on HIVE we know HIVE can be a good host for DeFi but for some unknown reason HIVE being ignored.
So what other options are out there or being worked on?
Gas prices being as high as they are, obviously they are this high because people are willing to pay these prices. And those people are mostly whales and people who are trading at very high volume…but eventually, they’re going to be other places that open up other venues
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Other avenues are definitely going to open up, this space is creative and very innovative, we are almost guaranteed not to remain stagnant too long if we at all we ever remain stagnant.
There will be some second place with some kind of bridge, whether it be a layer to whether it be an interoperability solution like Polkadot or Cosmos, or whether it be another layer one.
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DeFi is still new, it promises to be around for quite a while going into the future, making it a success and cheaper to do transactions will be worked up continuously.
Hopefully HIVE will be amongst the other chain hosting DeFi to investors out there in the future.
We owe it to ourselves to make Hive great
Image by @doze
Yes your logic is full-proof. Unfortantely some of us got caught up investing in eth dapps, and that's why we're willing to pay the fees. I'm very annoyed with the whole thing. But Economics one of my favorite subjects. My college major says that in this situation exactly what you said will come to be. It's profitable for people to move up in those spaces ethereum had on lock right. Because god knows I'm not paying 21 dollars to offer to sell a planet on OxUniverse that might sell for .29 in seven days. It's hurting those types of apps the most. I've got a grand of equity on that site alone that's worthless untill eth comes down. So I say godspeed!
Nice to have Economics background, it is definitely need when it comes to financial issues at least basic knowledge of it. More reason why I try to avoid Ethereum related transactions of late until gas price drops.
Cheers
Absolutely but I really wish I had more of a tech background. I'm taking online courses. I'm gonna make my own coin. Just watch I'm looking to do big things. Actually I really would like to fill the hole ETH left. Millions to be made. Gas prices according to my research on eth 2.0 won't be going down for a year or more they say. I have been messing with dapps that are built on EOS. Stay away from TRX. They are trouble. Miny when It comes out, as a coin versus a token will have the best dapps. They have the game on lock, and no one even knows it but a select few. I get paid 200 a week to do nothing now. Wasn't hard to get there either. Problem Is so many people have got shit on by companies like the phase their In right now they think It's a scam. Ha my girl has 3000 in It. So that means I do to. Plus another 6000 from other people. They get 19 to 20 percent interest a month like wtf. I wouldn't believe It If you told me back In school. But I get that on all 9000. I found a way to beat the system so I don't even have to have any money invested anymore
What game is that? Getting 200 is that in dollars? A week sounds awesome!
Well shoot me your email it will make things a lot easier. You see I'm setting up a sales platform that contains email templates where I have all my proof of payout pictures, and just stuff that people want to see before investing. You have to invest a small amount at first but you get ~ 20 percent a month for it so It's not bad. I pulled mine after that for a 150 profit because I waited for a good trade. Now I teach people how to do this, and many other hustles because I get paid. I get referral dollars, or marketing credits out of whatever I'm doing. But I believe that means I should be there to guide you along the way. Not to mention I literally am constantly looking for ways to make money I have about 20-30 going right now I'd love to share because that helps me support my business. What I really am trying to do Is write a book, and teach courses on like udemy. That's what I'm good at. Give me your email, and I got you bro for sure
Well shoot me your email it will make things a lot easier. You see I'm setting up a sales platform that contains email templates where I have all my proof of payout pictures, and just stuff that people want to see before investing. You have to invest a small amount at first but you get ~ 20 percent a month for it so It's not bad. I pulled mine after that for a 150 profit because I waited for a good trade. Now I teach people how to do this, and many other hustles because I get paid. I get referral dollars, or marketing credits out of whatever I'm doing. But I believe that means I should be there to guide you along the way. Not to mention I literally am constantly looking for ways to make money I have about 20-30 going right now I'd love to share because that helps me support my business. What I really am trying to do Is write a book, and teach courses on like udemy. That's what I'm good at. Give me your email, and I got you bro for sure
Complaining will not change anything in your current situation, this happened already in 2017 with Bitcoin.
This is a healthy sign we are getting in the right direction, and a lot of technologies already build to make the change a reality for fast transactions with low-cost fees.
Three years on we are experiencing the same now with Ethereum, with the rate of developments and technological innovations, give it another three years and I think we will be in a better place.
Cheers.
I know the best is there and the people on remain on board will have great success. :)
And being patient in the process as well.