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I don’t know much about crypto but I know it costs like $75-150 to send any amount of ethereum, maybe more? Can anyone tell me why it would be a top choice for

I don’t know much about crypto but I know it costs like $75-150 to send any amount of ethereum, maybe more? Can anyone tell me why it would be a top choice for some random integration right now?

rvz 5y ago
Good question. It is a problem that the supporters of Ethereum refuse to admit and they end up with the same responses [0] that still require you to pay for the unavoidable high gas fees which happily drains your wallet on every operation. As long as you can't use it to pay for your groceries, then it is totally useless. [0] https://news.ycombinator.com/item?id=29136101 https://news.ycombinator.com/item?id=29136101
deleted 5y ago
[deleted]
Canada 5y ago
For an ETH transfer you're looking at $15. For an ERC20 transfer it's about $45. This is 147 gwei at $4800 ETH. You can find out more here: https://etherscan.io/gastracker https://etherscan.io/gastracker
casi18 5y ago
They aren't necessarily bringing payments or anything else like that. Just adding the ability to easily sign with your connected wallet. This brings lots of functionality. It could be used for logging in, community votes, encryption, admin key sharing (sharmir secrets), shared community wallets. Imagine you have joined a guild in a game that has a guild bank with a bunch of tokens and nfts of game items, these could also be managed in discord with voting and payment streaming done via chat, and when you rage quit the discord server your share of the bank accounts assets is transferred back to your individual wallet. You start a discord server and you have an instant co-op spun up with accounts, voting systems, and membership structure all in place. Thats attractive to gamers/activists/the local church group/political parties/etc. (and despite what the other commenter says, that sounds much more interesting and has more possibilities than worrying about paying for groceries)

I don’t know much about crypto but I know it costs like $75-150 to send any amount of ethereum, maybe more? Can anyone tell me why it would be a top choice for some random integration right now?

rvz 5y ago

Good question. It is a problem that the supporters of Ethereum refuse to admit and they end up with the same responses [0] that still require you to pay for the unavoidable high gas fees which happily drains your wallet on every operation. As long as you can't use it to pay for your groceries, then it is totally useless. [0] https://news.ycombinator.com/item?id=29136101 https://news.ycombinator.com/item?id=29136101

deleted 5y ago

[deleted]

Canada 5y ago

For an ETH transfer you're looking at $15. For an ERC20 transfer it's about $45. This is 147 gwei at $4800 ETH. You can find out more here: https://etherscan.io/gastracker https://etherscan.io/gastracker

casi18 5y ago

They aren't necessarily bringing payments or anything else like that. Just adding the ability to easily sign with your connected wallet. This brings lots of functionality. It could be used for logging in, community votes, encryption, admin key sharing (sharmir secrets), shared community wallets. Imagine you have joined a guild in a game that has a guild bank with a bunch of tokens and nfts of game items, these could also be managed in discord with voting and payment streaming done via chat, and when you rage quit the discord server your share of the bank accounts assets is transferred back to your individual wallet. You start a discord server and you have an instant co-op spun up with accounts, voting systems, and membership structure all in place. Thats attractive to gamers/activists/the local church group/political parties/etc. (and despite what the other commenter says, that sounds much more interesting and has more possibilities than worrying about paying for groceries)