Quote from: Abiky on October 28, 2024, 01:58:14 PM

Quote from: justdimin on October 25, 2024, 08:41:23 PM

I would say Layer 2 is not the way to go when the gas fee for ETH is this low. The switch from PoW to PoS was done because of this, and didn't happen that quickly because there was a huge congestion with bunch of transactions just stuck, and with bomb to pass most of them, and the price going down ,we finally reached a point where there isn't too much stuck anymore, and everyone else could just keep using it for nearly free price, it's very cheap. I understand it's fast as well, it's about 30 seconds at most, and it's 14 cents at the most, which means ETH finally reached a point where you can use it to pay something in a shop.

Bitcoin can't be used for that for example, takes many minutes, and costs a lot, so you would be standing in the shop for many minutes waiting for confirmation, but ETH can be, it used to be not available too because it would be too expensive, but now it's cheap and fast, so you pay and leave and all it takes is thirty seconds.

Fees fluctuate according to on-chain network activity. ETH is cheap now because the network is not as congested as before. Things have calmed down a bit, as the hype moved into other chains such as Solana and TON. Once ETH becomes viral again, fees will rise all the way to the moon. Luckily for us, ETH developers are working on a long-term solution to scale the Blockchain. Upgrades such as ProtoDanksharding and Danksharding will make ETH great again. Just like in the early days (low fees, fast confirmation times).

Who needs to switch to a L2 network or an altcoin, when you can have everything in one place at a low cost? If ETH does things right, it will remain the second-largest crypto by market cap forever. I'd keep this coin in my portfolio for long-term profits. Just keep buying, and "hodling", and forget about the rest.

If the sol and the likes of it won't move and innovate faster, in fact.. Grin