Quote from: philipma1957 on Today at 06:42:24 PM

Quote from: Elwar on Today at 04:52:58 PM

So I've been playing around with DeFi with a small bit of some of my old ETH and I went to "stake" some coins and the gas fee was over $2k. I canceled the transaction but I don't see ETH lasting much longer as it is. I've warned people away from ETH due to how overloaded it has all become and it appears that it is unusable at this point.

Eth fees are insane.

I mine eth and directly convert it to BTC and fiat.

for me an eth coin is paid as if it is 1.89 x actual coin price as the fees are 89% after the pool takes its cut.

So 1700 x 1.89 = 3213 so I get paid as if an eth coin is worth 3213.

My mining deal is ½ to the host so 1606.5 for me and 1606.5 for the host.

basically 1700- 1606.50 = 93.50 for a 1700 coin

I immediately convert 900 to btc and 800 to cash

So as a miner my eth allows me to buy 900 in btc for 93.50 and have 800 cash.

This is stupid good for me and every other eth miner that understands what to do with the cheaply acquired eth.

I only wish I could get more mini gear to get more eth to convert to btc

I am paying under 11 cents to the dollar for my btc. to around 4400 for 1 btc.

obviously I don't have enough mining gear with this or I would not post here. As I would make Bob and Rick look like paupers.

I see the flippening not coming... Grin

https://cointelegraph.com/news/ethereum-posts-new-highs-as-defi-gas-fees-top-1-000-on-complex-protocols

https://www.flippening.watch
https://cointelegraph.com/news/ethereum-posts-new-highs-as-defi-gas-fees-top-1-000-on-complex-protocols