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My Shitty, Horrible Experience Trying to Purchase an NFT with Ethereum- Don’t be an Idiot Like Me

I’m at my wit’s end and I don’t know how else to take out my frustration other than this post. I will go ahead and say that I’ve been completely soured on ETH, and whatever the tech is behind it I hate it. I’ll never forget the feeling of this drawn out experience. And I know the amounts I’m stating are nothing to some, but this was hard-earned money for me.

With that said – Kings of Leon had announced the drop of their newest album with a special NFT version that includes a special press vinyl. As a vinyl collector and fan of the band, I was super excited to pick up the drop on Friday when it came out. The vinyl was set to sell for 0.035 ETH, about $53.00 on Friday. Pricier than typical vinyls, but well within range for a special edition. I made plans to set the money aside with time to accommodate my bills and tapped into about $150 in Bitcoin I had left.

Welp, that’s where my idiocy kicked in, apparently.

I swap my BTC for ETH and pay a fee for the swap, and then another after withdrawing it. The first was okay, the second was hefty. By this point I’m down to nearly half of the BTC I had. Ok – well, still within the range I need for the vinyl. No problem, right? WRONG.

I link my Metamask Wallet and try to purchase the album, and.. $80 gas fee. Down to about $70, I try to modify the gas fee to try to get it through. It goes through and immediately gets lost in the Ether-space because the fees are too low. I try to cancel it and pay more fees, and nothing happens. The transaction is lost in space.

Come Saturday I try to see what’s happened with the block, and nothing. I give up and try to send the remaining ETH to a Trust Wallet I just made to try again. Maybe the MetaMask thing isn’t working right with my browser.

I access OpenSea and track the vinyl down again, try to purchase it – and bam, again, fees. Okay; well, let me see if I can scrap by enough ETH to pay for the fee.

I go to Blockchain and squeeze my last $50 into it, and I can’t withdraw the money. Great.

Sunday comes and I go to GateHub and convert some XRP I had bought in 2017 to ETH. I can’t withdraw it because I don’t meet the minimum. Sigh.

Monday I monitor the gas prices and see they haven’t dropped, and try again to negotiate some ETH to my Trust Wallet to no avail.

Today, with the price now nearing $63 for the album, I finally bite the bullet and take to my Nano wallet – transferred the amount I needed to Mercatox to exchange to ETH, pay ANOTHER fee (0.02 ETH gawdang), send to my trust wallet, and finally! I’m able to purchase the damned thing.

…or so I thought. The transaction runs out of gas, I don’t get my purchase, and I lose all the money I had just gotten from selling my Nanos.

Nearly $150 dollars lost in transfer, withdrawal, and gas fees for NOTHING.

I’m so saddened, frustrated, angry – I feel like a bumbling idiot.

I know this is a pro-Crypto space and I’m a huge proponent of it, but damn. I feel so burned by all of this, I can only hope getting this off my chest saves someone these heart and financial pains.

Edito:

[Here is my wallet](https://ibb.co/cQjW5dV) and here is [the Etherscan.](https://etherscan.io/tx/0x757fcb1f0deb10f234e62bb53029c1c5bcab21709a92fa830df15be676974852)

I’ll add that I’m aware this is my fault, just hoping to save someone the same frustrations. I didn’t expect that many fees at every step of the way draining what I had set aside. I probably fucked up somewhere along the line, just be more studied before jumping into something like this

Número dos: i’m a fucking idiot, but to spare anyone reading this some future woes. Credit to u/mcgillby (cheers for the lesson)

> It appears that you have tried to manually lower the gas limit in an attempt to lower fees.
This will cause the tx to fail as if it hits this limit and the transaction is not completed it will use the rest of the gas to revert the tx.
You should never try to lower the gas limit, only the gwei amount should be lowered.
Lowering the gas only lowers the estimated fees, not the actual fees. You will only be charged for the gas you used.
The gas limit is there in case off a bug in a smart contract like an infinite loop that would never finish executing and use all your eth.

Be smart fellow cryptonauts, unlike yours truly.



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  1. It appears that you have tried to manually lower the gas limit in an attempt to lower fees.

    This will cause the tx to fail as if it hits this limit and the transaction is not completed it will use the rest of the gas to revert the tx.

    You should never try to lower the gas limit, only the gwei amount should be lowered.

    Lowering the gas *limit* only lowers the estimated fees, not the actual fees. You will only be charged for the gas you used.

    The gas limit is there in case off a bug in a smart contract like an infinite loop that would never finish executing and use all your eth.

  2. **Ethereum(ETH) Basic Info:** [Website](https://ethereum.org/) – r/Ethereum – [Abstract](https://www.reddit.com/r/CryptoWikis/wiki/Ethereum_basicinfo#wiki_short_description) – [History](https://www.reddit.com/r/CryptoWikis/wiki/Ethereum_basicinfo#wiki_history) – [Exchanges](https://www.reddit.com/r/CryptoWikis/wiki/Ethereum_basicinfo#wiki_exchanges) – [Wallets](https://www.reddit.com/r/CryptoWikis/wiki/Ethereum_basicinfo#wiki_wallets)

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  3. Was going to post that this is a good learning experience, but man just thinking about it…it shouldn’t be this hard to just use some crypto to buy something

  4. It’s sad Ethereum has thousands of dApps and you can’t use any with optimism. Makes me think if the network effect even exists in competition with third generation blockchains.

  5. Tweet this story out to them.

    Hopefully, they’ll accept direct Nano payments to avoid those outrageous fees.

    This is why I haven’t moved any BTC / ETH for about 4 years.

  6. This is why I avoid ETH and and try to avoid coins that uses gas fees.

    Sure, BTC fees aren’t great but I still manage to move money around without spending an arm and a leg (usually for less than a dollar if I’m moving it out of the right wallet). I asked my husband to purchase me some Gala coins (because I was too lazy to make an account on the exchange but he already has one). After he told me the price of gas to transfer it into my own wallet, I told him just to hold onto it and that we would just track how much I have in his wallet because I was not willing to pay the gas on it. I also have “100 free Gala” being offered to me from my Gala account but it was over $8 USD to transfer ~$4 worth of Gala at the time.

  7. “The Currency of The Future(tm)”. LOL. I tried using Uniswap for the first time a couple of weeks ago and that was a HUGE mistake. I lost so much money even after the tokens I bought *increased* in value! To buy a token and then sell that token on Uniswap… there are like 6 levels of fees, plus they give you an unfavorable rate. Just terrible all around.

  8. I really don’t get why they chose eth as the default payment for NFT’s. It’s such a pain in the ass. Unless you’re dealing in high enough quantities to make the gas fees worth it. I won’t be purchasing any more of it even as an investment until they get that crap sorted out. But at least nifty gateway was smart and allows customers to buy NFT’s with credit card.

  9. Wow, glad I wasn’t able to get any ETH going the other day. I constantly forget about gas fees and how they are ridiculous for small transactions. I was looking to mint an NFT with opensea and same thing “free transaction just pay gas” … Twice. $180 just to seed the account? Yeah no. Seems like a useless concept to me now considering I was super excited to get in on this. 🙁

  10. I have decided that Until ETH is fixed I’m not doing a single transaction.

    Look ETH is amazing, but it’s clogged right now. Even cities have this issue. A city can suddenly have a bunch of people move to it and suddenly there’s terrible traffic. Then they build a new freeway and it Unclogs the roads. ETH’s problem is literally being too successful, and soon it’s going to be updated to fix the issues, and then it’s going to be pretty insanely awesome. Companies are going to be clamoring over ETH to buy it and hold it for future NFT releases….

    First ETH had a boom of ERC20 tokens, they were simple and usually attached to an old world business, the coins never really fit with it. The use cases seemed forced. THEN came Defi, a REAL use case for the coins built on the ETH platform.

    Now we are seeing an NFT boom, but just like the ERC20 ICO scams, the NFTs coming out now have no real use case, they are little art pieces, certified tweets(wtf guys), gifs. But eventually this space will start to figure itself out. Games, trading card games. In game collections, certified documents. NFTs are going to be absolutely revolutionary, but at the moment the things coming out feel forced and unnecessary… because they are… I just heard about the Banksy that was destroyed to release a certified copy of it as an NFT. What’s next?? Destroying the Mona Lisa and releasing a certified copy of it??

    My point is that ETH is going to absolutely crush it. We aren’t even close the top. Imagine every certified document from a notary running through Ethereums platform. Imagine all tickets for sporting events, for concerts. Imagine commemorative NFT stations at national parks and theme park rides. Imagine NFTs for that food challenge you completed at your local bar. The sky is the fucking limit dudes! It’s going to be inSANE!

    We just have to wait. For. It. To. Get. Updated.

  11. If I went through all that and pulled up the transaction on etherscan, that little sad face emoji they have after the out of gas warning would totally make me lose my shit.

    Condolences. Saw someone tossed you some eth to try again. Hope it works out and you get your record.

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