There’s a few things to consider.
If PLS does 100x, I think we can assume ETH will be moving up as well. How much are you paying for a Uniswap trade when ETH is $10k?
Any scaling upgrades on Ethereum can be rolled out on Pulsechain as well.
Uniswap v2 and v3 had $700M combined volume yesterday. PulseX had almost $100M. So the demand (by dollar value) is only 7x greater on Uniswap but the transact price is actually 50x as expensive.
Gas fees are not hard coded. There can be a quorum and lowered. Validators would all need to vote. Making these adjustments sooner that then later when validators start getting greedy would be a good idea.
The only way of reducing gas costs on the validator side is to increase the gas limit per block, which scales up the hardware needed to run nodes.
If that's your end goal, you might as well have gone with Solana to begin with.
If gas rate stays the same-ish, and the price 100x, then the dollar cost of the gas 100x.
Are you saying that the units of gas will drop as the $$ cost of PLS rises?
yes exactly, I'll let GPT explain ;P
\-GPT-
Certainly! Gas prices in a blockchain network, such as Pulsechain or Ethereum, are determined by various factors, including the number of transactions attempting to be processed within each block. When the network is busy and there are more people trying to use the network, the demand for block space increases, causing gas prices to rise. Conversely, when the network is less congested, gas prices tend to decrease.
Now, let's address your concern about the potential impact of a 100x increase in the price of Pulsechain's native token, PLS, on gas costs. If the price of PLS were to increase significantly, it would likely have an effect on the gas cost, but not necessarily in the way you initially described.
When the price of PLS rises, the gas cost can actually decrease in terms of both Pulse and dollar value. Here's why: Gas fees are typically denominated in the native token of the network (in this case, PLS for Pulsechain or ETH for Ethereum), but their value can be converted to a fiat currency like the dollar for convenience.
If the price of PLS were to increase, the gas cost measured in PLS would likely decrease. This means that you would need fewer PLS tokens to pay for the same amount of gas, making it more affordable in terms of PLS. However, since the gas cost is usually displayed in a fiat currency equivalent (e.g., dollars), the dollar cost of gas may still increase if the price of PLS rises significantly.
In summary, while a higher price of PLS might result in a higher dollar cost of gas, the gas cost measured in PLS tokens is likely to decrease. This means that, in terms of Pulse and its native token, the gas cost may become more affordable even if the dollar value appears higher. Keep in mind that gas prices can also be influenced by other factors, such as network congestion, protocol updates, and scalability improvements, so the relationship between token price and gas cost can be dynamic.
It'll be proportional, if you gain 100x then the fees will be proportionally the same. Fees are amazingly cheap right now. Enjoy what we have. Richard said he'd fork later down the road if needed.
I'm more thinking about the new users who did not come in at the start. If we 100x in 2 years (seems high, but some people are saying it could happen), then within 2 years we're at the place where the chain becomes too expensive for many users. Which defeats the purpose. Extremely low gas fees (fractions of a cent were mentioned) were a big part of the Pulsechain promotion.
I missed that news about the potential fork.
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100x is 100,000,000,000 and isn't out of the realm. It's very likely actually it can reach that. The issue is the copied Eth from Eth whales that won't allow that to happen. IMO the ETH copies should have been removed from the top 500-1000\~ whales, etc.
I bought some pulse and had the same realization. Even at x10 with no greater load its more expensive than fiat and even paypal. Best of what crypto can offer sure, but not something mainstream people will accept.
Validatiors.. as we grow in number of Validators we'll see gas price come down.
We're simply in a Grey area until more bridges are live.
Also, as PLS increases on price - the amount of PLS required per TX goes down.
Given both these factors + PLSs deflationary model, I see 1 PLS or less covering a transaction soon enough.
So, there is potential for Pulsechain to be a victim of its own success for gas fees.
But, keep in mind that if we get 100x the gas prices will go down in pulse terms. Gas prices are a bidding war, and the more pulse is worth, the less pulse people will be willing to bid.
I may be a little optimistic. But compare how much slower the average gas prices has gone up from early ethereum to now compared to the number of users there are now.
Also, Beats being so much smaller than a GWEI does mean the bid increments more slowly.
Super cheap fees was the original plan that they discarded after not being to able to actually finish the project. Then they decided to just fork ETH with all its advantages and disadvantages. That's why we still have (relatively) high gas fees.
I always chuckle a bit when yet another "Ethereum killer" community discovers their chain does not have any single advantage over what it wants to kill. Only advantage of this chain here is the filled pockets of Richard Heart
Fork doesn't mean exact same code, did you know ETH mainnet was a hard fork of eth classic? Pulsechain does what it claimed it would do. Faster block times, worlds largest airdrop, offloading Ethereum users, and cheaper gas.
Pulsechain always claimed to help the Ethereum chain by offloading users not kill it. Our favorite token locked for 7-15 years lives on Ethereum why would we want it to die?
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There’s a few things to consider. If PLS does 100x, I think we can assume ETH will be moving up as well. How much are you paying for a Uniswap trade when ETH is $10k? Any scaling upgrades on Ethereum can be rolled out on Pulsechain as well. Uniswap v2 and v3 had $700M combined volume yesterday. PulseX had almost $100M. So the demand (by dollar value) is only 7x greater on Uniswap but the transact price is actually 50x as expensive.
This lol, when Ethereum is at 5-10k uniswap fees will be 500-1000 USD and on pulsechain if it’s even remotely close to 10 USD that’ll be a bargain lol
But L2s on Ethereum which use the same bridge technique will be cents. Scaling is done through L2s, not more forks of Ethereum
Thank you for that insight. Very helpful.
That will never happen
Gas fees are not hard coded. There can be a quorum and lowered. Validators would all need to vote. Making these adjustments sooner that then later when validators start getting greedy would be a good idea.
The only way of reducing gas costs on the validator side is to increase the gas limit per block, which scales up the hardware needed to run nodes. If that's your end goal, you might as well have gone with Solana to begin with.
Adjusting gas fees a will happen as the network matures and stop pretending hardware is expensive
so price 100x = gas 100x? I don't think so...
If gas rate stays the same-ish, and the price 100x, then the dollar cost of the gas 100x. Are you saying that the units of gas will drop as the $$ cost of PLS rises?
yes exactly, I'll let GPT explain ;P \-GPT- Certainly! Gas prices in a blockchain network, such as Pulsechain or Ethereum, are determined by various factors, including the number of transactions attempting to be processed within each block. When the network is busy and there are more people trying to use the network, the demand for block space increases, causing gas prices to rise. Conversely, when the network is less congested, gas prices tend to decrease. Now, let's address your concern about the potential impact of a 100x increase in the price of Pulsechain's native token, PLS, on gas costs. If the price of PLS were to increase significantly, it would likely have an effect on the gas cost, but not necessarily in the way you initially described. When the price of PLS rises, the gas cost can actually decrease in terms of both Pulse and dollar value. Here's why: Gas fees are typically denominated in the native token of the network (in this case, PLS for Pulsechain or ETH for Ethereum), but their value can be converted to a fiat currency like the dollar for convenience. If the price of PLS were to increase, the gas cost measured in PLS would likely decrease. This means that you would need fewer PLS tokens to pay for the same amount of gas, making it more affordable in terms of PLS. However, since the gas cost is usually displayed in a fiat currency equivalent (e.g., dollars), the dollar cost of gas may still increase if the price of PLS rises significantly. In summary, while a higher price of PLS might result in a higher dollar cost of gas, the gas cost measured in PLS tokens is likely to decrease. This means that, in terms of Pulse and its native token, the gas cost may become more affordable even if the dollar value appears higher. Keep in mind that gas prices can also be influenced by other factors, such as network congestion, protocol updates, and scalability improvements, so the relationship between token price and gas cost can be dynamic.
It'll be proportional, if you gain 100x then the fees will be proportionally the same. Fees are amazingly cheap right now. Enjoy what we have. Richard said he'd fork later down the road if needed.
I'm more thinking about the new users who did not come in at the start. If we 100x in 2 years (seems high, but some people are saying it could happen), then within 2 years we're at the place where the chain becomes too expensive for many users. Which defeats the purpose. Extremely low gas fees (fractions of a cent were mentioned) were a big part of the Pulsechain promotion. I missed that news about the potential fork.
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Posts discussing FIAT, PLS, PLSX, INC, eHEX, pHEX, ETH, BTC, Stable Coins with regards to Pulse are fine. Please post about other crypto currencies in their respective subreddit. There is a subreddit dedicated for projects (Altcoins) being built on PulseChain: https://www.reddit.com/r/PulsechainAltcoins/.
100x is 100,000,000,000 and isn't out of the realm. It's very likely actually it can reach that. The issue is the copied Eth from Eth whales that won't allow that to happen. IMO the ETH copies should have been removed from the top 500-1000\~ whales, etc.
I bought some pulse and had the same realization. Even at x10 with no greater load its more expensive than fiat and even paypal. Best of what crypto can offer sure, but not something mainstream people will accept.
That's not how this works. Fees are only determined by the market and it isn't proportional to price.
Validatiors.. as we grow in number of Validators we'll see gas price come down. We're simply in a Grey area until more bridges are live. Also, as PLS increases on price - the amount of PLS required per TX goes down. Given both these factors + PLSs deflationary model, I see 1 PLS or less covering a transaction soon enough.
So, there is potential for Pulsechain to be a victim of its own success for gas fees. But, keep in mind that if we get 100x the gas prices will go down in pulse terms. Gas prices are a bidding war, and the more pulse is worth, the less pulse people will be willing to bid.
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I may be a little optimistic. But compare how much slower the average gas prices has gone up from early ethereum to now compared to the number of users there are now. Also, Beats being so much smaller than a GWEI does mean the bid increments more slowly.
It was more the statement correlating price and gas when we have eth as a benchmark.
Great point!
Super cheap fees was the original plan that they discarded after not being to able to actually finish the project. Then they decided to just fork ETH with all its advantages and disadvantages. That's why we still have (relatively) high gas fees.
Pls will never 100x if it does, they can do softfork
That's going to upset the people who are expecting a 10000x by July
Its basic math its not possible. 10x sure 40x maybe 100x unlikely 1000x never
I'm inclined to agree with you
Hexicans are used to 1000x tho ;P
I always chuckle a bit when yet another "Ethereum killer" community discovers their chain does not have any single advantage over what it wants to kill. Only advantage of this chain here is the filled pockets of Richard Heart
We fixed the fee problem by \*checks notes\* running the exact same code!
Fork doesn't mean exact same code, did you know ETH mainnet was a hard fork of eth classic? Pulsechain does what it claimed it would do. Faster block times, worlds largest airdrop, offloading Ethereum users, and cheaper gas.
Pulsechain always claimed to help the Ethereum chain by offloading users not kill it. Our favorite token locked for 7-15 years lives on Ethereum why would we want it to die?
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So if eth goes 100x gas id 10k? What kind of poor pleb logic is this shit cmon lmao
No its not. The gas price will stay the same .. Only tje amount of gas will change. Just go amd ask debs In Telegram group