💛 Support Finematics on Patreon and join our Discord community ► www.patreon.com/finematics ❓ What do you think about Ethereum gas and transaction fees? Comment down below 📘 Check out our FREE Guide to DeFi ► finematics.com/guide-to-decentralized-finance/ 👍 Hit the like button if you enjoyed this video 🐦 Follow Finematics on Twitter ► twitter.com/finematics
At least something awesome out of today's "hard way" of learning about Gas by spending quite a steep amount for a fairly small transaction was to find your channel! I already spent about an hour watching your videos and learning quite a lot already! Thank you!
Alfredo del Arenal, I know what you mean, I too am here because I wanted to move my ETH from Coinbase to my Ledger Nano X it cost me half my ETH in gas ⛽️ fees 🥴 Live and learn. I am so happy to have found this Channel. I won’t make that mistake again. 😄
@@ReyZar666 really? So these gas prices for the ethereum are just fine to you, right? Its highway robbery. I would rather take my chances with the current monetary system than this overly complicated geek system.
From what I understand Imagine buying a $10 ice cream and being charged $100 to buy that ice cream to eat. But if you buy the $10 ice cream at 3am in the morning your only charged $50 dollars to eat that $10 ice cream?
I’m one of the slowest learner on earth but for some reason i understood this video the first time i watched it one of the best Crypto videos out i really appreciate you I’m watch this at least 6 times a week
Finally a crypto channel not about the hype! I'm interested in crypto but some ideas are still too new to take in. Can you explain the synthetic assets in the future? The benefits, its use cases, and the projects currently working on it? Thank you so much for providing an educational channel for crypto space!
Amazing i also just started trading with Mr Franklin C. Davis With an initial investment of $2,400 i made up to $6,700 in just a week of trading with him..his strategies are mind blowing
8btc and still counting in just 2 months, Expert Franklin Davis is the trade king as far I'm concerned. This man has really changed the life of many people from different countries and I'm a living testimony of that
Just a few days back I was searching for an explanation on GAS and the first thing that came to my mind was to see if this channel had already made a video on it :D Thankfully he uploads it today.
Good video. We were performing some ETH transfers today and were shocked by the gas charges. Performing a defi transfer of $200 cost $50. That’s a 25% fee. The estimated fee for a $50 transfer was $25. I can’t see how eth will survive given these high costs. On the next rise of eth I’m pulling everything out.
Thanks for this video.. However, It is still not explained, for example, if someone is wanting to just send ETH, from a wallet, to another wallet, and ETH gas station says the lowest price is say, 100 GWEI, how do we know what gas limit to set, in order for the tx to be successful? Do we always use 21,000 x the current gas gwei fee, or when do we increase the gas limit, and how do we know what gas limit to choose? This is what no-one ever explains..
Thanks so much for the great videos! If you could do us a favor and in the description, ALSO add links to the separate videos you mention with the video, that would be great!
the quality of your videos and your information is great. i just found your channel a few days and have watched half your videos. ill have them all watched by next week. this is the best channel ive found around defi and defi related stuff. i also like that you do some videos covering technical stuff like protocols, and some covering historical/social stuff like the sushi uniswap saga. keep it up!
Excellent video (and channel). I'm quite new to all this crypto universe, and there are so many concepts to grasp. Smart contracts and gas were quite nebulous to me, now it's much better. Thank you !
Great video, im trying to wrap my head around the Transaction failure part. You said if there no enough GAS left then the transaction fails and the transaction fee will still be charged. Who estimates the GAS fee? And if we are paying the GAS upfront why would the GAS get exhausted before performing all the operation? Is it because of the estimate being lesser than required GAS?
Can you make a video that shortly explains all the main coins? To give an idea of what the coin/company is about and the importance of it in the entire system. Thank you! Your videos are great.
This video is actually really good. Amazing material, as always. It would be really nice to have a video about some technical explanation about the diference in different layer 2 scaling solutions, optimistic roll ups, zk-roll ups, plasma + pos (which as far as I know does not inherit ETH security). Thanks as always!
Each time you upload a video it uploaded to my brain by watching it 2 times minimum, Thank you very much for the work you do, by the way I will join pateon when I finish watching all your videos in this Chanel.
dope. thank you daddy finematics. this actually made a lot of things make more sense like "smart contracts r on the eth blockchain" and all i could picture was pieces of paper in space. but it makes a little more sense now
at 3:12, you say that if network activity is the same and eth price increases, then gas price decreases. I don't get how this is true. why would gas price decrease ? If eth price increases, then it was the result of increase of network activity and increase of network activity should have caused transaction fee increase which is the same thing as increase in gas price. Could you explain this part ? Thank you
Very nice touch there at the end bringing awareness to the community in a subtle way. Cutting back on decentralization and security is not the vision that appeared a decade ago. Very well informed video and would really love to hear your opinion on the SPoS consensus (Ouroboros) used by Cardano, tokens treated as first class citizens and the general aspect of decentralization brought by a scientific peer review system. Thanks :)
I simply love your content and channel, mate! Easy to follow and understand all these complex concepts. would you consider doing a video on other ecosystems such as zilliqa or waves? they have both recently launched their own DEX (and they solve the gas fees problem) and so, I'd like to hear your opinion on these. cheers!
3:01 how is it a separate unit decoupled from ETH price when gas is literally just X Gas needed multipled by a fraction of ETH AKA gwei? They're tied together by definition. If ETH goes up in price you will pay more in gas. How do you not?
Nice Video. Really liked how you explained the gas fees and what a gwei is. Mentioning EIP 1559 and how it is upposed to stablice the fees was great as well. Right now I only understand the proof of stake solution so I like that one the most.
That was an excellent video, full of fantastic information. Very thorough and really well explained. Thank you for putting in the time to create this, amazing work.
Eth gas fees are broken. The miners monitor the transaction types and charge more or less depending on the address. For example an OpenSea transaction is $6 while a Compound transaction is $105, they're basically just taxing people they assume can afford it. Thats like charging different prices for a can of Coke depending on who is buying it. You can play around with these numbers a bit but even rich people have their limits. A billionaire is unlikely to buy a coke for $100 even though he can afford it. People do not like being taken advantage of.
Does this not make ethereum effectively useless as a currency? why the hell is anyone using a currency with a $50 transaction fee? why would anyone want to use a network like that?
Ok, you are my professor, mentor, sensei from here now! Thank you for your amazing work! What will I learn next? How Cosmos Network really works? "Cosmos is an ecosystem of that can scale and interoperate with each other." Only you can teach me how can this work.
3:00 totally lost me, if gas is measured in Gwei (which are small amounts of eth) how is it decoupled from the price of eth? Will a price increase in eth not raise the gas fees?
There are 2 parts, gas itself i. e. computational pieces and gas price i. e. the price of 1 computational unit, so amount of computational pieces fully decoupled from Eth, while price of 1 computational unit could be in reverse correlation with Eth, but could be not as well
can u tell whats with Ether Tokens? I mean, the cost for sending it from wallet to wallet is madly high! Will that be fixed in the future, or is it going to stay like that now on?
Clear, complete and entertaining content, as always. Thanks you for sharing, I think you provide the best content to learn key concepts in the crypto space. Keep it this way!
Wow... I learned so much and have so much to learn. Would be appreciated if you offered more opinion (you did a little at the end) on why different things may have more utilization and hopefully value. I try my best to put money in things I hear about but want to know what gives them use.
I don’t understand why Coinbase Wallet Ask me to pay 159$ in ETH-Fees. Sone fucked up gas shit. I don’t understand. I’m trying to send 100$ so it doesn’t make sense to me. But Thanks for good teaching
If I buy ETH does that mean the gas I pay is extra cost from the ETH? Like money I won’t hold but will have to pay like tax kinda? (I know not tax but similar to the way that works)
You say that retrieving the balance of an account is 400gas. Correct me if I am wrong, but reading the blockchain is a free operation. Only write operations doing some modifications to the state are costly.
Help!!!! Plz tell me if i buy two etherium today is this gas fees something i have to pay every week or month if i just wanna buy it once n hold long term. I just wanna buy two for future n leave it in my wallet.
Alternative EVM chains that are decentralized? Well there is ETC Ethereum Classic the original Ethereum blockchain which has far less congestion and gas cost. Others including Exp , Ubiq and others use the same EVM and use PoW Mining to secure the chain. DYOR
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
💛 Support Finematics on Patreon and join our Discord community ► www.patreon.com/finematics
❓ What do you think about Ethereum gas and transaction fees? Comment down below
📘 Check out our FREE Guide to DeFi ► finematics.com/guide-to-decentralized-finance/
👍 Hit the like button if you enjoyed this video
🐦 Follow Finematics on Twitter ► twitter.com/finematics
0 dislikes. That's how good you are. :)
just began my plunge down the Ethereum rabbit hole, this channel is incredible. Strong chance I'll have watched every video in a week
thanks!
Good luck with low gas fees 🤣
You are the educational crypto GOAT
thanks! 💛
The animations help a lot
100%, the ultimate crypto GOAT.
At least something awesome out of today's "hard way" of learning about Gas by spending quite a steep amount for a fairly small transaction was to find your channel!
I already spent about an hour watching your videos and learning quite a lot already! Thank you!
Alfredo del Arenal, I know what you mean, I too am here because I wanted to move my ETH from Coinbase to my Ledger Nano X it cost me half my ETH in gas ⛽️ fees 🥴 Live and learn. I am so happy to have found this Channel. I won’t make that mistake again. 😄
@@Jeanneellis2000 So where do you store your ETH?
Because if you leave it on let’s say binance you don’t actually own the keys so they own your ETH
ruclips.net/video/ClamAMHJSOQ/видео.html
Ohhhhhhhhhhhh my goodness, found my favourite RUclipsr of the month
Thanks!! 🙌
@@Finematics ya man u are the best
Sexy Chick
So far the best explanation of Gas I’ve come across on the internet
This is amazing. We are witnessing the birth of a new financial system. This is probably a once-in-a-lifetime event. .
hope this is the case since it so annoying to know that the current financial system is fcking bs
Or we are just playing with something that will never make it to a real world.
Yes, paying 20 USDC on fees when I want to transfer 25 USDC is amazing.
@@ReyZar666 really? So these gas prices for the ethereum are just fine to you, right?
Its highway robbery.
I would rather take my chances with the current monetary system than this overly complicated geek system.
From what I understand Imagine buying a $10 ice cream and being charged $100 to buy that ice cream to eat. But if you buy the $10 ice cream at 3am in the morning your only charged $50 dollars to eat that $10 ice cream?
This channel is underrated
uallahi bro
ruclips.net/video/ClamAMHJSOQ/видео.html
This channel is easily the best at explaining all crypto concepts, such high production quality and great writing.
Thanks! :)
I agree, I agree and agreeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!
ruclips.net/video/ClamAMHJSOQ/видео.html
I’m one of the slowest learner on earth but for some reason i understood this video the first time i watched it one of the best Crypto videos out i really appreciate you I’m watch this at least 6 times a week
This is one of the best and highest-quality videos about this topic. Thank you for your work.
thanks! :)
My eyes glazed over and I zoned out. Maybe I'm not smart enough to understand. But great video!!
Dude, I ran out of videos to binge, please release more :)
Finally a crypto channel not about the hype!
I'm interested in crypto but some ideas are still too new to take in.
Can you explain the synthetic assets in the future? The benefits, its use cases, and the projects currently working on it?
Thank you so much for providing an educational channel for crypto space!
Absolutely agree with your comments and desire . SNX is something I would really want to understand
Amazing i also just started trading with Mr Franklin C. Davis With an initial investment of $2,400 i made up to $6,700 in just a week of trading with him..his strategies are mind blowing
8btc and still counting in just 2 months, Expert Franklin Davis is the trade king as far I'm concerned. This man has really changed the life of many people from different countries and I'm a living testimony of that
You can easily reach Mr Franklin over Whatsa'pp 👇
?⍏𝟏𝟔𝟓𝟕𝟐𝟎𝟒𝟒𝟕𝟑𝟕《
Dude that was so fricking good explanation ! Keep up the good work!
Thanks!
Love to see your channel getting this much traction, keep up the great work!!
Thanks! :)
I like to thank the author for this video since even being a beginner, I could understand and gain complete confidence in the topic...Thank you
Just a few days back I was searching for an explanation on GAS and the first thing that came to my mind was to see if this channel had already made a video on it :D Thankfully he uploads it today.
The best channel
I have seen explaining something so obscure .
ruclips.net/video/ClamAMHJSOQ/видео.html
Man these videos are the best...the BEST!
thanks!
Good video. We were performing some ETH transfers today and were shocked by the gas charges. Performing a defi transfer of $200 cost $50. That’s a 25% fee. The estimated fee for a $50 transfer was $25. I can’t see how eth will survive given these high costs. On the next rise of eth I’m pulling everything out.
ruclips.net/video/ClamAMHJSOQ/видео.html
Just lost $18 moving $35 to a wallet. I don’t want to buy ETH at all if I can’t actually own it without paying that much.
Yes ETH fees are a joke
Thanks for this video.. However, It is still not explained, for example, if someone is wanting to just send ETH, from a wallet, to another wallet, and ETH gas station says the lowest price is say, 100 GWEI, how do we know what gas limit to set, in order for the tx to be successful? Do we always use 21,000 x the current gas gwei fee, or when do we increase the gas limit, and how do we know what gas limit to choose? This is what no-one ever explains..
THIS!!!!!
Your explanation is amazing, youre one gifted individual. Thank you so much for your work
thanks!! :)
Thank you for all the hard work you invest in every video! I love them
thanks! :)
Extremely well explained. Thanks for this great video!
Thanks. Glad it was helpful! :)
Thanks so much for the great videos! If you could do us a favor and in the description, ALSO add links to the separate videos you mention with the video, that would be great!
the quality of your videos and your information is great. i just found your channel a few days and have watched half your videos. ill have them all watched by next week. this is the best channel ive found around defi and defi related stuff. i also like that you do some videos covering technical stuff like protocols, and some covering historical/social stuff like the sushi uniswap saga. keep it up!
great to hear! thanks :)
Nice surprise seeing Loopring mentioned. Thanks for the clear explanation.
Excellent video (and channel).
I'm quite new to all this crypto universe, and there are so many concepts to grasp. Smart contracts and gas were quite nebulous to me, now it's much better. Thank you !
Great video, im trying to wrap my head around the Transaction failure part.
You said if there no enough GAS left then the transaction fails and the transaction fee will still be charged. Who estimates the GAS fee? And if we are paying the GAS upfront why would the GAS get exhausted before performing all the operation? Is it because of the estimate being lesser than required GAS?
ruclips.net/video/ClamAMHJSOQ/видео.html
Thanks for the clear explanation! And thanks for leading me to a much more complicated level which I need more videos to clearing my minds.
I didn't wait to smash that like bro, love the content
thanks!! 💛
Best education videos on defi!! Keep it coming.
Can you do a video on tokenomics?
Can you make a video that shortly explains all the main coins? To give an idea of what the coin/company is about and the importance of it in the entire system. Thank you! Your videos are great.
ruclips.net/video/ClamAMHJSOQ/видео.html
Your videos have helped me a lot starting out with defi. Thanks a lot! Hope your channel grows, you deserve it.
Great to hear! Thanks :)
@@Finematics your videos are great ,very informative
I love this channel, we need something like this.
Why does everything have to be so complicated!😭 You explained it the best tho. 🙌
Awesome content man! Can you please do a video about Cardano, Polkadot, and some of the other blockchains that aims to compete with Ethereum?
Thanks. Yes, these videos are in the pipeline :)
@@Finematics Thanks! Love your stuff!
0:30 What is Gas?
1:25 Transaction fee
3:44 Mempool
4:52 Fee model
8:40 Layer 2 Scaling
9:00 Loopring
9:17 Matric/Polygon
9:29 Optimism
10:15 Ethereum 2.0
10:25 EIP 1559
Loopring is way undervalued!
This video is actually really good. Amazing material, as always.
It would be really nice to have a video about some technical explanation about the diference in different layer 2 scaling solutions, optimistic roll ups, zk-roll ups, plasma + pos (which as far as I know does not inherit ETH security).
Thanks as always!
there is one on Layer 2, but I'm also making a new one on rollups
Brilliant videos, I hope to make content half as good. Keep it going!
Thanks! All the best with your content! :)
Each time you upload a video it uploaded to my brain by watching it 2 times minimum,
Thank you very much for the work you do, by the way I will join pateon when I finish watching all your videos in this Chanel.
Great to hear! Thanks :)
dope. thank you daddy finematics. this actually made a lot of things make more sense like "smart contracts r on the eth blockchain" and all i could picture was pieces of paper in space. but it makes a little more sense now
Glad to hear the video was helpful :)
explanation is good just a suggestion please try to dilute it down more for beginners and non newbies mate :)
This explanation is amazing,
Thanks for great content
Best content on DeFi - no question about it!
Thanks! :)
solid content as always!
thanks :)
at 3:12, you say that if network activity is the same and eth price increases, then gas price decreases. I don't get how this is true. why would gas price decrease ? If eth price increases, then it was the result of increase of network activity and increase of network activity should have caused transaction fee increase which is the same thing as increase in gas price. Could you explain this part ? Thank you
Very nice touch there at the end bringing awareness to the community in a subtle way. Cutting back on decentralization and security is not the vision that appeared a decade ago. Very well informed video and would really love to hear your opinion on the SPoS consensus (Ouroboros) used by Cardano, tokens treated as first class citizens and the general aspect of decentralization brought by a scientific peer review system. Thanks :)
ruclips.net/video/ClamAMHJSOQ/видео.html
Good video
These fees are very annoying
So much knowledge in one video. I will need to re-watch it to grasp all of it! Very informative. Thanks mate.
Great to hear! :)
Subscribed! Very informative:) keep up the good work
Thanks bro amazing stuff
I simply love your content and channel, mate! Easy to follow and understand all these complex concepts. would you consider doing a video on other ecosystems such as zilliqa or waves? they have both recently launched their own DEX (and they solve the gas fees problem) and so, I'd like to hear your opinion on these. cheers!
3:01 how is it a separate unit decoupled from ETH price when gas is literally just X Gas needed multipled by a fraction of ETH AKA gwei? They're tied together by definition. If ETH goes up in price you will pay more in gas. How do you not?
But isn’t the gwei tied to volume of trade at that moment and not price of ETH itself in a sense that the gwei could go up as eth goes down rapidly?
You mentioned the rise of alternative chains that aren't quite decentralized or permissionless. Which ones are those?
Very interested in this also
The hand animation was really cool
Nice Video. Really liked how you explained the gas fees and what a gwei is. Mentioning EIP 1559 and how it is upposed to stablice the fees was great as well. Right now I only understand the proof of stake solution so I like that one the most.
Fantastic video. I spent the weekend reading up on defi so this summarised my learning perfectly. Much appreciated!
Great to hear! Thanks :)
I love your videos they are truly the best and have taught me so much thank you! Please could you make one about XDAI (STAKE)?
love this explanation, straight forward and easy to understand
Gas fees so frustrating currently... But thanks for the explainer! Great as always
That was an excellent video, full of fantastic information. Very thorough and really well explained. Thank you for putting in the time to create this, amazing work.
Thanks! Glad it was helpful :)
Man I wish I could draw like you, so satisfying
This is an extremely good video.
thanks!
Wow! Amazing explanation!
thanks!
Eth gas fees are broken. The miners monitor the transaction types and charge more or less depending on the address. For example an OpenSea transaction is $6 while a Compound transaction is $105, they're basically just taxing people they assume can afford it. Thats like charging different prices for a can of Coke depending on who is buying it. You can play around with these numbers a bit but even rich people have their limits. A billionaire is unlikely to buy a coke for $100 even though he can afford it. People do not like being taken advantage of.
Damn
Your content is amazing! ❤️
As always..!
thanks! :)
Great video! Where are you from btw? Just wondering since you got a pretty thick accent
Awesome explanation, thank you!
Does this not make ethereum effectively useless as a currency? why the hell is anyone using a currency with a $50 transaction fee? why would anyone want to use a network like that?
Love the video, very useful. Would love more videos about other cryptos, thanks
I appreciate your channel , 🙏 thank you.
Ok, you are my professor, mentor, sensei from here now! Thank you for your amazing work!
What will I learn next?
How Cosmos Network really works? "Cosmos is an ecosystem of
that can scale and interoperate with each other." Only you can teach me how can this work.
This guys awesome. Love the format of your videos
Thanks! :)
Great explainer. Thank you.
great visualizations, subscribed! what software is used to create this?
thanks, videoscribe
very clean animations, me like
3:00 totally lost me, if gas is measured in Gwei (which are small amounts of eth) how is it decoupled from the price of eth? Will a price increase in eth not raise the gas fees?
You will pay a higher fee in usd, but the same amount of ether
There are 2 parts, gas itself i. e. computational pieces and gas price i. e. the price of 1 computational unit, so amount of computational pieces fully decoupled from Eth, while price of 1 computational unit could be in reverse correlation with Eth, but could be not as well
Hello, could you make a video explaining all the layers of the blockchain and how they relate to each other?
Very good explanation but why are my fees always way higher than anything in this video?
Amazing video!
Thanks!
I love your videos! Thanks
Great to hear! Thanks :)
can u tell whats with Ether Tokens? I mean, the cost for sending it from wallet to wallet is madly high! Will that be fixed in the future, or is it going to stay like that now on?
You forgot the minimums!!! There isn't a percentage system unless it's a high value transaction.
Does Layer 2 approaches increase centralization to achieve scalability?
Thank you for creating this! Subbed.
Clear, complete and entertaining content, as always. Thanks you for sharing, I think you provide the best content to learn key concepts in the crypto space. Keep it this way!
Thanks! :)
Does increasing the gas increase the chance of getting into a presale buy faster?
Wow... I learned so much and have so much to learn. Would be appreciated if you offered more opinion (you did a little at the end) on why different things may have more utilization and hopefully value. I try my best to put money in things I hear about but want to know what gives them use.
I don’t understand why Coinbase Wallet Ask me to pay 159$ in ETH-Fees. Sone fucked up gas shit. I don’t understand. I’m trying to send 100$ so it doesn’t make sense to me. But Thanks for good teaching
Hate to say.... Bank fees are cheaper than we think....
Are Eth fees taxable? A certain amount of Eth is used to pay gas fees so does that taxable?
ruclips.net/video/ClamAMHJSOQ/видео.html
If I buy ETH does that mean the gas I pay is extra cost from the ETH? Like money I won’t hold but will have to pay like tax kinda? (I know not tax but similar to the way that works)
You say that retrieving the balance of an account is 400gas. Correct me if I am wrong, but reading the blockchain is a free operation. Only write operations doing some modifications to the state are costly.
Help!!!! Plz tell me if i buy two etherium today is this gas fees something i have to pay every week or month if i just wanna buy it once n hold long term. I just wanna buy two for future n leave it in my wallet.
gas is only paid when executing transaction, so there is no fee for just holding coins in your wallet
Hello! Thank you for your amazing videos!
Please do the explainer on Polkadot future ecosystem, and how it's different from what we have now, cheers:)
Could make a video on zilliqa sharding and scalability. :)
Please make a video on proof of state vs proof of work
Alternative EVM chains that are decentralized? Well there is ETC Ethereum Classic the original Ethereum blockchain which has far less congestion and gas cost. Others including Exp , Ubiq and others use the same EVM and use PoW Mining to secure the chain. DYOR