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     3 years ago  

    Thanks for asking.

    I finally got everything 'unstuck'. I had to send USD fiat to CashApp, buy BTC on CashApp, send the BTC to Bittrex, convert BTC to ETH, send ETH to metamask, then use the ETH on metamask to free up the transactions on UniSwap (or something like that -- it was a convoluted mess!).

    Totally crazy that I had to jump through so many hoops when I had ERC-20 tokens in my wallet with plenty of value, but no actual ETH to pay the gas fees.

    The other thing I learned through this process was that you cannot easily 'cancel' a slow transaction on the Ethereum network and you cannot initiate a new transaction without the first transaction either succeeding or failing.

    So there are actually two ways to end up in Ethereum hell:

    • Not having enough ETH to pay the gas fees.
    • Not providing a transaction with enough ETH to keep it in the 'fast lane'.

    Without realizing the existence of the sequential-queuing limitation, I ended up with 5 or so time-sensitive transactions in the queue, all stuck behind my initial low-gas transaction, with those transactions destined to 'fail' for exceeding UniSwap's time limit.

    I had used the 'cancel' option to try to clear out earlier 'pending' transactions, but then eventually (a day later) discovered that those cancels were also going to take days to process as 'canceled', and that I could not conduct additional transactions until they cleared the queue. So, I had to add a bunch more gas to those 'cancel' orders to get them finally canceled and 'out of the way' so I could place new transactions.

    What a ROYAL PAIN! I have been so spoiled by Hive's 3-second block validation and fee-less transactions. This is one more reason why I am so bullish on Hive and LeoFinance.

    The takeaway (for me):

    • Stay away from the Ethereum network, if at all possible.
    • If you MUST operate there, always put in enough gas (ETH) to stay in the fast lane for each and every transaction. Getting out of being stuck in the slow lane will end up costing you more (in both time and ETH) than just starting out in the fast lane.
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     3 years ago  

    I had to send USD fiat to CashApp, buy BTC on CashApp, send the BTC to Bittrex, convert BTC to ETH, send ETH to metamask, then use the ETH on metamask to free up the transactions on UniSwap.

    This sounds like a complete disaster.

    I also have some BCH in a wallet and I have to send double what I have in there to get it out, so it's not worth it.

    And I can see why this leofinance bridge will be a new tool for many, because I know the same problem you have, many have.

    And of course I will stay away from ethereum, I am not yet a millionaire to operate there, I still have to grow my crpto.

    Thank you very much for the detailed answer.

    Posted Using LeoFinance Beta

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