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❕NEWS Ethereum miners earned half a million dollars from mining in one hour.

De-rector

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Glasdnode revealed that there are been a continuous rise in the transaction fee of ethereum in the past few months.
The miners recently broke a record by earning $500, 000 from transaction fee in just an hour.
The ethereum enthusiasts are seriously worried about the escalating fee. More details can be found on decrypt.co
 

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This is wow, how i wished i also had mined the time my friends were mining, I see them cashing out with big profits.hopefully Bitcoin will rise again,by then I will join the queue
 

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well more transactions equals more traffic equals higher transaction fees equals more work and profit for the miners, as this is a plus for the miners this is a negative for the users though
 

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Excuse me, have you read the latest news just this morning concerning the Bitcoin?
Well, if the miners extract more than those they mine, the risk that this currency will lose value!
What do you think?
Greetings.
isn't extracting and mining the same? or is your thought different? , well miners are the main suppliers in the market and miners can somehow manipulate the supplies and prices to an extent
 

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isn't extracting and mining the same? or is your thought different? , well miners are the main suppliers in the market and miners can somehow manipulate the supplies and prices to an extent
Agreed
 

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Glasdnode revealed that there are been a continuous rise in the transaction fee of ethereum in the past few months.
The miners recently broke a record by earning $500, 000 from transaction fee in just an hour.
The ethereum enthusiasts are seriously worried about the escalating fee. More details can be found on decrypt.co
Will I call this a good business deal for such a huge business profit and in a very short time too. Buy this is really biting the users
 

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Glasdnode revealed that there are been a continuous rise in the transaction fee of ethereum in the past few months.
The miners recently broke a record by earning $500, 000 from transaction fee in just an hour.
The ethereum enthusiasts are seriously worried about the escalating fee. More details can be found on decrypt.co
This is really sad that miners are always gaining from this high fee. Most people now are scared of dealing with ethereum transaction because of these high fees .
 

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This is one of the disadvantages of a decentralized currency. Its not regulated and so those with cash to invest in mining still end up manipulating the value at the expense of the end users.
 

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This is one of the disadvantages of a decentralized currency. Its not regulated and so those with cash to invest in mining still end up manipulating the value at the expense of the end users.
Do you really understand what decentralized currency is ? Miners don't have any impact in Defi unlike in other projects where they determine price
 

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It is more reason why the transaction fee for most of the Defi tokens as little to no transaction fee , they are not mined.
 

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It is more reason why the transaction fee for most of the Defi tokens as little to no transaction fee , they are not mined.
Are you sure of this ? I tried staking my lead token which is Defi based but was tasked with paying gas fees which discouraged me from carrying out the transaction after losing many fees
 

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Are you sure of this ? I tried staking my lead token which is Defi based but was tasked with paying gas fees which discouraged me from carrying out the transaction after losing many fees
I am not sure and I guess you are right because I tried sending Maker coin from my trust wallet where I also had ethereum, the gas fee was deducted from ethereum
 

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I am not sure and I guess you are right because I tried sending Maker coin from my trust wallet where I also had ethereum, the gas fee was deducted from ethereum
Oh! This means that even the Defi projects has little or nothing to offer towards the improvement of the ethereum network with respect to gas fee .
 

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Oh! This means that even the Defi projects has little or nothing to offer towards the improvement of the ethereum network with respect to gas fee .
Nothing significant, the only advantage I see is that you can send DeFi tokens and use ethereum to pay for the gas fee or otherwise, which is good to an extent.
 

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Nothing significant, the only advantage I see is that you can send DeFi tokens and use ethereum to pay for the gas fee or otherwise, which is good to an extent.
I don't see this as good considering that ethereum is higher in value than the Defi token . Is like using Gold to pay for the fee of silver transaction .
 

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I don't see this as good considering that ethereum is higher in value than the Defi token . Is like using Gold to pay for the fee of silver transaction .
Nope, it is the dollar equivalent of ethereum that is recorded as gas fee that will be deducted from the available ethereum balance so it is the same thing.
 

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Nope, it is the dollar equivalent of ethereum that is recorded as gas fee that will be deducted from the available ethereum balance so it is the same thing.
That's the same point I am saying . Why not for example A lead token ( a Defi token ) be used to pay the gas fee for lead token transaction , why must it be ethereum which is higher in value ?. Perhaps because it is built on ethereum network
 

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That's the same point I am saying . Why not for example A lead token ( a Defi token ) be used to pay the gas fee for lead token transaction , why must it be ethereum which is higher in value ?. Perhaps because it is built on ethereum network
If you have enough lead token it can obviously be used to pay for it transactions but in a situation you don't have enough ethereum can be used to pay for the gas fee.
 

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If you have enough lead token it can obviously be used to pay for it transactions but in a situation you don't have enough ethereum can be used to pay for the gas fee.
No bro , it is only ethereum that can be used to pay for gas fee . This is the challenge with ErC-20 tokens. There is no other cryptocurrency under ethereum network that is used for paying for gas fee except ethereum
 
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