Need help understanding why high gas fees are a good thing. I am long on ETH just trying to understand concepts of crypto

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Need help understanding why high gas fees are a good thing. I am long on ETH just trying to understand concepts of crypto

I have only had money to invest in crypto since April this year. I invested 90% into ETH and the next 10% in others. All I’ve known are high gas fees but I understand why, blockchain congestion which equates to high usage, people are using the network.

I am long on ethereum. I understand and believe the future of crypto relies on a decentralized trusless network and ethereum is poised to be the backbone of this.

Other blockchains have lower fees; however are not decentralized. ETH maxis say that is a “bad” thing. But Sally Ally Muffin Stuffin who is getting into crypto to earn say 10% yield on a stable coin deposit doesn’t care about decentralization.

Yes, I understand (and am excited) that the merge will be here which will roll into roll ups and in turn lower fees. I also know you can go to layer 2 for lower fees.

Why are people so bullish with high gas fees when there are other alternatives to use? As an example, I am yield farming on TERRA and I swapped out 300 UST for 0.08 nETH for 0.25 UST (.25 US cents).

First off, I understand this is NOT ETH on the ethereum network and all the limitations of TERRA combined with the problems of moving that nETH to ethereum. I am just using this as a personal example where I am willing to experiment a little with other blockchains and increase my holdings.

I see people say high gas fees are good for ethereum. How is that good for long term getting people into crypto and more importantly ethereum?

Reminds me a little bit of a small company called Facebook that people didn’t like because it was just for colleges and you couldn’t customize your page like MySpace. Or another company that thought people would never order movies online from Netflix because going to the store was just better.

I am just curious as to why smart ETH people think high gas fees are good for long term growth? Again – bullish on ETH just trying to learn as a new person

submitted by /u/ExternalOk4293
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