Topic: can you reverse or cancel a bitcoin transaction? (Read 1182 times)
as ı know you cant reverse or cancel after you confirm bitcoin or any other blockchain transaction, thats why people afraid to use blockchain, because at central money transfer systems you can cancel or change transactıon after confirmation,
I think it cannot be cancel or stop ,but it has a chance to stop,if your fee was too low or not suitable in blockchain it will automatically stop, but in manual stop i dont think that it can be.
It is not possible to cancel the transaction that has been done, unless you enter a fee that is less then your transaction is automatically canceled and asked for a larger fee.
Or you can use the trick given by mocacinno, as follows
However, there are a couple "tricks" you can pull while a transaction is UNCONFIRMED.
For example, you can create a (very) low-fee transaction, and broadcast it to as little nodes as humanly possible. Then, create a new transaction, using the same unspent outputs as input but funding a completely different address as the first transaction. You can create this secondary transaction with a much higher fee and broadcast it to as many nodes as possible.
If you do this, there is a decent chance a miner will put the second transaction into the block he's currently working on instead of the first one. And once one of those transactions ends up in a valid, broadcasted block that's been added to the blockchain, the other transaction is automatically "voided". It's using unspent outputs that are no longer in the UTXO set, so the unconfirmed tx becomes invalid.
If you're setting up a service, it's always a good idear to wait for at least 1 confirmation before sending goods or services. For expensive products, you might even chose to wait 3+ confirmations ( 6+ for the really paranoid shop owners). Once a transaction has a couple of confirmations, there is no way of cancelling or reversing it.
You can cancel only that transaction which is unconfirmed but if the transaction has been made you cannot cancel it or revert it.There are some tricks which you can apply before the transaction is conformed.You can find it on this forum about it.
Well, we can really cancel a bitcoin transaction, more precisely, we cancel it before we have final confirmation, but if we have passed this step as you say, the transaction will continue until it is completed and of course, if we send the wrong address, the opportunity to get the money back is almost zero. Honestly, this is one thing I don't like when using bitcoin, if bitcoin can improve this issue, I believe that bitcoin's position in the community will rise to a higher position. 
Bitcoin transaction cannot be cancelled or reversed. The moment you made a transaction and click send there is no turning back so always make sure before you send. Though there are some newbies who are saying they can cancel the transaction but actually it is before you send it. The web host site will ask a question if you are really sure to continue your transaction and at that time you can cancel it but if you confirm to send then there is no turning back.
Hope this helps.
Hope this helps.
You can cancel only that transaction which is unconfirmed but if the transaction has been made you cannot cancel it or revert it.There are some tricks which you can apply before the transaction is conformed.You can find it on this forum about it.
If transaction is still in the mempool you need to check first where it is in the queue.You can quickly find it if you write txid in the search field of this service. If its number in line provides sufficient time to complete RBF do it as has been suggested above.
It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.
I know that you could not cancel your bitcoin transaction once you confirmed or accept it because it will be delivered instantly, but if you have a slow internet connection the funds that you have send will be cancelled. Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.
--snip--
But is there someone who has been able (recently) to cancel a broadcasted transaction?
or is it definetely that there is NO WAY to cancel a transaction?
Thus it makes sense to discuss it again.
But is there someone who has been able (recently) to cancel a broadcasted transaction?
or is it definetely that there is NO WAY to cancel a transaction?
Thus it makes sense to discuss it again.
I have a habit of cheaping out on fees when i move funds between my own wallets. Nowadays, i always opt-in RBF, which makes it very easy to create a double spending transaction with a higher fee and broadcast it, but about a year ago, i did have to create new transactions doublespending the unspent outputs used and input of my own transactions several times. It was during the spam attack and the astronomical fees, and before opt-in RBF was adopted in my wallet, so many of my low-fee between-my-own-wallet transactions got "stuck". doublespending was the fasted way of fixing these problems.
It can be done, but like i said: if you wait for 1+ confirmations, the transaction can no longer be "cancelled" this way.
the question was very tricky just as it covered merchant interest.
when you use fiat refund is a common thing but crypto doesn't have such option.
So, I guess merchants will just have to initiate a new transaction. So, it must have a special system for setting a unique purchase ID and link it to tx id of the payment.
No. But you can if you are using wallets that have a regulations. Some wallets today have that feature and its great to have that but when you are on Blockchain wallet reversing transaction will be impossible because it is made directly on the blockchain and even the system cannot reverse it.
yes, as far as I know, it can't stop transactions that you have done on bitcoin, or other altcoins. even this applies to fiat. when you have sent money to someone, it is very difficult to make it back, or cancel it.
No. But you can if you are using wallets that have a regulations. Some wallets today have that feature and its great to have that but when you are on Blockchain wallet reversing transaction will be impossible because it is made directly on the blockchain and even the system cannot reverse it.
so far, for transactions using bitcoin cannot be canceled. transactions using bitcoin are very fast, accurate and real-time. so, if the transaction process has been carried out, we cannot cancel if an error has occurred. so, we must be careful when doing transactions.
One of the things that caught my attention about irreversible transaction which do Bitcoin have thats why im hooked into crypto due to this feature that no fiat/banking system can give out.
Before you do jump into Bitcoin/Crypto World you would surely know this stuff on early phase. Bitcoin tx wont really be reversible thats why making transactions or sending out
funds into other wallet,make it sure that you have entered the right one.
Before you do jump into Bitcoin/Crypto World you would surely know this stuff on early phase. Bitcoin tx wont really be reversible thats why making transactions or sending out
funds into other wallet,make it sure that you have entered the right one.
It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.
I still haven't heard or seen anything like that could happen in the blockchain, but I think it has been done with the EOS blockchain if I were not mistaken.
I haven't seen or heard of bitcoin transaction being cancelled or reversed before. Infact to me this is impossible thus we have to be careful with all transactions we make because once initiated, it cannot be cancelled or reversed.
Surprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.
Yes, you are lucky! With such abilities you could try to become an expert on the taklimakan platformSurprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.
Yes, you are lucky! With such abilities you could try to become an expert on the taklimakan platformSurprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.
Yes, you are lucky! With such abilities you could try to become an expert on the taklimakan platform
Surprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.
It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.
That's not able to do, and also this is also the deficiency about bitcoin transaction.
The verification of doing transaction is still lack and hope it will improve in the future
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