I just googled what EIP1559 and how it will affect the gas fee, wtf is a gas fee and what is EIP 1599 about? :|
First you have to understand that each blockchain project has its own full blown economy. In a Proof of Work model (bitcoin, ethereum) the project needs miners to validade the transactions, thus the project pays miners a fee in the format of a coin. Miners join the project if the coin they are being paid has market value which only happens if the project succeeds.
In the Ethereum space the model is the same as I said above. The coin the project uses is "Ether", and "gas" is just an alias given to the amount "Ether" that needs to be paid to miners in order to register your transaction
on the next block of the blockchain. Its a fee that guarantees your transaction will be registered.
But because the Ethereum blockchain currently has a very finite number of transactions that can occur every second, and the demand
far surpasses that finite number, there is competition to enter the next block, so you pay more to the miners and they give you priority. Its an auction of fees if you will.
EIP 1599 is band-aid that proposes a hardcap on the amount of gas you can pay, thus lowering the fee miners receive. This had to be proposed because the demand outpaced the timeline for next evolution of Ethereum that fixes the issue.
The problem with the miners and EIP1599 is three fold and easy to explain.
1) the majority of the outcry comes from recent adopters that smelled easy money and decided to join the project without understanding it. They didn't know Ethereum was supposed to leave the Proof of Work model.
2) They joined without understanding the economy model of the Proof of Work, in which for the coin they are mining to have value, the project must succeed. High fees goes against the economy model.
3) This "class" of uninformed miners also happens to be selling every coin they gain ASAP into dollars. So they are not invested in the long term success of the project. Scarily, smart people can also be dumb, and some mining pools decided they want short term gains and screw all the above points, and dumb people have a tendency to join up in arms with other dumb people.
All in all, its a failing to understand the ecosystem and what gives the coin value.
