You Can Send Millions In BTC For a Few Bucks in Fees, But You Need $100 on Ethereum for "Ants Transfers". Hive, You Need To "Kill It"...
Ethereum has yet to be killed and so far quite a few projects are relying on this old dinosaur. You literally can't even have access to most of the famous NFTs without ETH and there are probably hundreds of ERC-20 tokens built on it. Ethereum is somehow the biggest compromise we have to have in crypto.
On one hand it allows for tons of apps and projects to be built from scratch, but on the other transactions using ETH are so damn spicy. It's insane... You can literally send millions in BTC for a few bucks in fees, but you need $100 to move a few grands worth of ERC-20s around. I've got myself burned with ETH for the second time, last night.
It's not the first time I say I'm not touching ETH or any ERC-20 token ever, but I do plan on making it the last one. I had a feeling last night that alts are going to have a party the next few weeks/month and I thought I should trade UMA and the liquid LINK I had for some ETFs on Binance. Those are leveraged tokens with up to 4x.
If you know how to play your game with ETFs you can have a better ROI on short periods of time than by holding actual crypto. To be able to send UMA and LINK from my Exodus wallet to Binance I had to have ETH for gas fees. Man, ETH gas really hurt my belly...
Hence I had to buy ETH from Binance, send it to my Exodus wallet for $17 in fees, use $50 worth of it to send UMA from Exodus to Binance and about $25 to send LINK and I also paid $7 to send the rest of ETH back to Binance. Such a pain in the ass. About 100 dollars for such a small transaction. In this regard BTC is killing ETH...
You can't play games or build DeFis on BTC though, but you can do that with Hive and that's where my hope is. To have so many apps and use cases on Hive that I wouldn't even think of using ETH. I honestly hope this was the last time I had to use ETH. It's weird you know, they've been talking of upgrades reducing GAS fees for years literally and nothing happens.
Cardano and Solana are eating the gap between them and the king of DApps and hopefully they'll become viable alternatives for Ethereum, as this Russian flavor blockchain is literally a plankton and minnow killer. The fees are insane. I don't know if there's any other blockchain with so high fees.
Hive is dirt cheap though, it's actually free and it's becoming a competitor to Ethereum as well. Splinterlands being a proof in this regard. I have honestly never had any issue sending HIVE to an exchange, between exchanges, or to another account. It's so damn fast and free to use. I'm staying away from ETH and its ERC-20 tokens until they do something with the fees.
What about you, are you using Ethereum often, how do you feel about the fees?
Thanks for attention,
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