How heavy is your Ethereum bag after the London hardfork

in Project HOPE3 years ago

There is nothing worth being celebrated than seeing that the coin you invested in is rising heavily. It is very risky to invest when it comes to cryptoccurrency. After doing a lot of research and along the line you manage to finally invest in such coin you have to be prayerful. The reason for this is because nobody can come out and boast that he/she knows the future of any coin. Assuming it is easy to predict, I believe by now everybody will be rich by now. So you should knows that the cryptoccurrency is very dicey, you play with it, you get burnt.

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What really pains me most is that I am not having any Ethereum, assuming I have some Ethereum I could have been celebrating too by now. Is not easy to see that the coin you are holding is doing well, it will just end up seeing you so happy. One thing that I have always adviced is that when it comes to cryptoccurrency you should learn not to be greedy. Learn to always take profit and you will see your self not getting burnt deep along the line.

Whatsoever that it is you should not in any way get carried away by the market and also make sure that you don't buy coins at the top. Take for instant if you see a coin pumping hard from 1$ to $300, the thing you now need to do is not to go and buy the coin when it is at $300, if you do this because of the fact that you are afraid of missing out (FOMO), you might pay heavily for it. There is every tendency that $130 might be the top and once you invested you might see slow progress or you might see a big downward movement in price. When the opposite happens you might be the one crying. This is why it is advisable to knows how to invest in a cryptocurrency project and when to do so.

There is one unique thing about burning, when a token is burnt there is every tendency that they will be upward spike in the price of that token (coin). It is not a must that it will always goes up but be rest assured that there should be some movement, with that you have to make sure that you knows what you are doing and be ready to grab up the opportunities when it present itself.

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I believe a lot of Ethereum holder's including me have been waiting for this burn long ago but it those not happen and it was looking like what won't happen. Because of that I thought that it is no longer important to even think of waiting for them. One thing that I know for sure is that I know's that once there is burn, the Ethereum community will enjoy some pump. I remembered when me and my friend were discussing about the London burn, I was happy talking about it because all my wishes were for it to happen so that the cost of gas fee can be reduced drastically like that of BNB blockchain. If we have gas fee like that of BNB, Ethereum will out perform many coins and many blockchain. This is just what all those who believe in Ethereum are all looking for. We talked about the coin through out that day as we both were aiming to see the impact in prices of the coin.

One thing that the London burn birth is that it ensure that the transaction fee is determined automatically, depending on the ongoing demand supply trends. It is expected to bring uniformity to the transaction prices and the Ethereum prices. This is the more reason that I loved this burn so much.

Another aspect to watch out for is that this burn will help to see a major impact of EIP 1559 in ETH’s supply. This will mean that the base fee will be burned. Since this fee is paid in ETH, more ETH will be burned as transactions occur. It is good news for ETH holders as the fee burn could lead to ETH inflation. But this doesn’t mean ETH will go deflationary. It is just a new theoretically deflationary mechanism, something Ethereum has lacked till date,” Hitesh Malviya, founder, itsblockchain.com explained.

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Conclusion

Now that we saw what the London burn brings to us, it is now left for us to take decisions base on how cool we think it is. Rememeber this is not a financial advice as any decision you make is base on your own will.

           Tfame3865  
            signed out 

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Ethereum has shown significant price movement after the London hardfork and ETH holders are surely very happy with this move. IETH is very nice playing and having the floor is always a good idea. Are you expecting that with this update transaction fee will be reduced significantly but looks like that will still take more time to happen however the current crisis moment it's something that making its holder very happy.
Thanks for sharing this nice post.

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