{"id":15852,"date":"2021-11-24T09:56:32","date_gmt":"2021-11-24T14:56:32","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=15852"},"modified":"2021-11-25T08:51:54","modified_gmt":"2021-11-25T13:51:54","slug":"high-fees-hinder-crypto-constitution-bidder-refund-process","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/high-fees-hinder-crypto-constitution-bidder-refund-process\/","title":{"rendered":"High Fees Hinder Crypto Constitution Bidder Refund Process"},"content":{"rendered":"\n<p>Investors are now demanding that the ConstitutionDAQ team pay fees of up to half of its refund after it failed to buy a rare original copy of the U.S. constitution.<\/p>\n\n\n\n<p>The ConstitutionDAO now faces refunds of about $40 million for 17,000 investors which it was able to raise in the Ethereum.<\/p>\n\n\n\n<p>Although the group explained that the repayment of investors remains a top priority, some issues need to be taken into account, including the high fees charged for carrying out the various crypto transactions.<\/p>\n\n\n\n<p>Since fees have to be paid to those who operate the computer systems to facilitate transactions, fees rise sporadically depending on how busy the network is.<\/p>\n\n\n\n<p>The group said on its website that it had 17,437 donors with a median donation of $206.26.<\/p>\n\n\n\n<p>High &#8216;gas&#8217; fees, therefore mean that those who contributed a small donation will be hit in the search for a refund.<\/p>\n\n\n\n<p>One user testified on the Discord app that in order to get their $400 back, they had to pay $168 in gas fees to those who run the computer systems to facilitate transactions, while others simply complain that the fees were higher than they originally donated.<\/p>\n\n\n<p>For more information, read the <a href=\"https:\/\/www.bbc.com\/news\/technology-59392827\" target=\"_blank\" rel=\"noopener\">original story<\/a> on the BBC.<\/p>","protected":false},"excerpt":{"rendered":"<p>Investors are demanding that the ConstitutionDAQ team pay fees of up to half of its refund after it failed to buy a rare copy of the U.S. constitution.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-15852","post","type-post","status-publish","format-standard","hentry","category-todays-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/15852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=15852"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/15852\/revisions"}],"predecessor-version":[{"id":15888,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/15852\/revisions\/15888"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=15852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=15852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=15852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}