Topic: Blockchain Unconfirmed Transactions where does The Money Go (Read 147 times)
The money goes nowhere, it is in the senders wallet, worst case scenario you push it into another wallet and do a higher spend fees, essentially a "double spend" and allow this one to transfer at a much quicker rate.
From my knowledge the longest unconfirmed transaction was 27 days.
That's pretty much an extreme case, and mainly because of how one or more nodes on purposely keep pushing that specific transaction to the network. If a certain transaction can't confirm within 10 days, that must be a clear sign that it will likely never confirm. In most cases transactions drop in a matter of days, which is also quite a lengthy process, but by far not as bad as the previous situations. I once sent coins to my exchange account to start trading, but got interrupted and forgot about it. Almost 24 hours later it still didn't post, which turned out to be related to a very low fee. I double spent with a higher fee, and got my quick confirmation as planned. And yes, double spending only works when you have the private key(s). If it concerns an external party you are receiving funds from, that would be impossible from your side.
When was the last time you lost money on bitcoin because of Unconfirmed Transactions. I remember i have lost a few dollar because of this, $80 to be exalt, I waited for days all to no avail. Every of us. My question is, where does the money go?
Is it the miners or are they really scamming us, check this https://blockchain.info/unconfirmed-transactions
Those are what i am talking about, Some of them are not really confirmed. Have you guys lost money on Unconfirmed Transactions, where does the money go, please say your experience, I am confused here.
When did you made that transaction? and it is still unconfirmed until now? you should provide that transaction ID here to know if your saying the truth. If you paid very low transaction fees, your transaction will surely get stuck in the Bitcoin network for a long time and for that transaction be able to get confirmed, you need some help from miners (if you know one) or any transaction accelerator services. Those Bitcoin will only go to its destination address or will go back to the sender Bitcoin address if it not get thru. I never experienced this because I always pay normal fees. And stop thinking that miners can scam us through this because no one can change anything on Bitcoin network, unless they gained 51% hashing power. Is it the miners or are they really scamming us, check this https://blockchain.info/unconfirmed-transactions
Those are what i am talking about, Some of them are not really confirmed. Have you guys lost money on Unconfirmed Transactions, where does the money go, please say your experience, I am confused here.
It'll go back to the person at some point, so it's not like it's going to be lost in oblivion if the transaction isn't confirmed. Though this does depend highly on the wallet that you're using, as some wallets know that they're able to reuse that money if it isn't confirmed after a set amount of time (given this is all for the sender, this isn't something the receiver would do without)
So yeah, not lost.
So yeah, not lost.
From my knowledge the longest unconfirmed transaction was 27 days. All transactions will eventually get confirmed unless canceled or returned. I've never heard of a transaction getting lost or money disappearing.
Where you lost 80$ ? Have you used bitcoin to pay somewhere through bitpay like thirdparty or used it to top up other payment processors account (like neteller or skrill)?
If you have used these third party than you can contact them and they will refund your bitcoin if your transactions stay unconfirmed for long time and get confirmed only after few days.
If you have just sent it to another bitcoin address and it is still unconfirmed, it will automatically drop from mempool after few days and should be added to your balance. Don't use coinbase, xapo like wallets they are not true bitcoin wallet. Use electrum where you have full control over your coins and transactions.
No miners will not take your unconfirmed bitcoin...
If you have used these third party than you can contact them and they will refund your bitcoin if your transactions stay unconfirmed for long time and get confirmed only after few days.
If you have just sent it to another bitcoin address and it is still unconfirmed, it will automatically drop from mempool after few days and should be added to your balance. Don't use coinbase, xapo like wallets they are not true bitcoin wallet. Use electrum where you have full control over your coins and transactions.
No miners will not take your unconfirmed bitcoin...
It stays on the blockchain. It will takes time to make a confirmation, As far as i know bitcoin takes 15-30 minutes to make a transaction or it depends on where country you belong. because i have same scenario before especially if the market is bullish there's a lot of transaction all over the world. Well, Lightning Networl is live soon and we can see a fast transaction.
I have an unconfirmed transaction for 4 days when there was a network congestion but it eventually confirmed that was when I didn't know that there are services or method that you can employ to fast track your transactions, better do a search on that.
Usually, it will go back to our waller if your transaction got unconfirmed for long time. Or it will stuck unconfirmed until it become confirmed. I never know people lost their money because unconfirmed transaction, they can do double spend and use high fee or accelerate it. 
No, miners not scamming you.
No, miners not scamming you.
When was the last time you lost money on bitcoin because of Unconfirmed Transactions. I remember i have lost a few dollar because of this, $80 to be exalt, I waited for days all to no avail. Every of us. My question is, where does the money go?
Is it the miners or are they really scamming us, check this https://blockchain.info/unconfirmed-transactions
Those are what i am talking about, Some of them are not really confirmed. Have you guys lost money on Unconfirmed Transactions, where does the money go, please say your experience, I am confused here.
Is it the miners or are they really scamming us, check this https://blockchain.info/unconfirmed-transactions
Those are what i am talking about, Some of them are not really confirmed. Have you guys lost money on Unconfirmed Transactions, where does the money go, please say your experience, I am confused here.
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