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I was just pulling up avg tx fees. I realize that tx cost on ETH varies highly, do you have a preferred site to tell what contracts are economically viable for
by placeybordeaux 9y ago
I was just pulling up avg tx fees. I realize that tx cost on ETH varies highly, do you have a preferred site to tell what contracts are economically viable for what amounts?
For instance I would be happy to buy a cryptokitty or two at the ~1 USD price range, but if the tx fees are ~1 USD then it's obviously a no go.
- MarkTee 9y agoFor ETH, https://ethgasstation.info https://ethgasstation.info has not let me down.
- placeybordeaux 9y agoThat site is saying 0.3 USD. I wouldn't call that pennies.
- collinmanderson 9y agoThough, it's on par with credit cards.
- DennisP 9y agoA great place to look is the ETH Gas Station: https://ethgasstation.info/ https://ethgasstation.info/ It tells the lowest gas price you can use to be reasonably sure your transaction will go through, and how long it's likely to take. Using that gas price it also gives a dollar cost of a simple transfer, which at the moment is higher than I expected at 20 cents for a 20-minute wait, or 33 cents for a 3-minute wait. For cryptokitties you'll have a higher gas cost; I don't really know how high but I think I've seen people complain about spending six bucks for cryptokitty transaction at a 60 gwei gas price.
- lostmsu 9y agoIt does not make much sense to use avg tx fee to see if a currency is suitable for micropayments. You should be looking at the min tx fee.
- DennisP 9y agoAlso with various micropayment schemes you don't actually need an on-chain transaction for every payment.