How much gas and does it make a difference in wait time.

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ODTech

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So as the title states does it make a difference how much gas i specify?

I mined my first bit of Ethereum on dwarfpool and it was successfully sent to my wallet. I used myetherwallet.com to move the eth to altcointraders.co.za but the transaction has been pending for several hours. Gas was on the default.

Gas Limit 2100
Gas Price 20 Gwei
 
I got is sorted. I replaced the pending transaction with one that gives more gas and it went through within 30 minutes.
 
saor said:
You can also use https://ethgasstation.info/ to see what current recommended GAS fees are.
See the section: Recommended GAS prices.
Click to expand...

Thanks i've added the link to my book marks.

How long does it usualy take for coins to show on the exchanges line altcointrader and luno?
When viewing the blockchain i can see the transaction on my local wallet and the altcointrader wallet but it doesn't show on their website yet so i can trade or sell it. It's been a few hours already.
 
ODTech said:
Thanks i've added the link to my book marks.

How long does it usualy take for coins to show on the exchanges line altcointrader and luno?
When viewing the blockchain i can see the transaction on my local wallet and the altcointrader wallet but it doesn't show on their website yet so i can trade or sell it. It's been a few hours already.
Click to expand...

Some things to keep in mind:

The ETH networks are so clogged right now. It's actually a huge problem and with the amount of money coming in we're going to hit real problems real soon with regards to fees and transaction times.

I assume (not really sure) that the exchanges wait until they can post a withdrawal transaction for a reasonable fee. In this case, you won't even see the transaction record on e.g. etherscan until they post it. In times of high volume and when the network is under strain, this could be hours

When sending ETH you can use a lowish gas limit (20-40k) but when sending tokens always use a high gas limit (200k). Check the gas station, the SafeLow price is always a safe bet but if you need it sent fast then adjust accordingly
 
lunch said:
Some things to keep in mind:

The ETH networks are so clogged right now. It's actually a huge problem and with the amount of money coming in we're going to hit real problems real soon with regards to fees and transaction times.

I assume (not really sure) that the exchanges wait until they can post a withdrawal transaction for a reasonable fee. In this case, you won't even see the transaction record on e.g. etherscan until they post it. In times of high volume and when the network is under strain, this could be hours

When sending ETH you can use a lowish gas limit (20-40k) but when sending tokens always use a high gas limit (200k). Check the gas station, the SafeLow price is always a safe bet but if you need it sent fast then adjust accordingly
Click to expand...

Thanks for the explanation. I suspected it's because of network strain.
I don't mind waiting but i just wanted to make sure there is a reason for it.
 
Yeah you need to up the gas limit basically. You have several options

You can try and cancel the transaction on MEW so that you can submit a new transaction with a new nonce and higher gas limit

You can submit a replacement transaction on MEW/Metamask with the same nonce, higher limit and higher gas price. Replacements like this cost more gas

You can wait for a lowly miner to accept your fee :p who knows how long it will take
 
lunch said:
Yeah you need to up the gas limit basically. You have several options

You can try and cancel the transaction on MEW so that you can submit a new transaction with a new nonce and higher gas limit

You can submit a replacement transaction on MEW/Metamask with the same nonce, higher limit and higher gas price. Replacements like this cost more gas

You can wait for a lowly miner to accept your fee :p who knows how long it will take
Click to expand...

What you are explaining i already did and the transaction was successful. What i'm waiting for is the coins to reflect on altcointrader
 
Oh ok. Could be that it's waiting for confirmations, never used altcointrader
 
Me neither, this is my first payout. I'll try luno too down the line and see which works best for me.
 
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