Topic: can you reverse or cancel a bitcoin transaction? - page 2. (Read 1182 times)

I do think that some sites will give you another message if you are sure about the transaction, some sites will give you 5 seconds before the transaction goes in if there will be a mistake that you need to correct but I don't think that there has been a site that can cancel your Bitcoin transaction, it is not allowed since the function would likely be abused if given a chance, this is disabled so that there would lesser scams that would happen.

In my experience once you transact there is no way for you to cancel that is why there is a notice before you proceed that you check the Bitcoin address many times to make sure it is correct before proceeding.

Notify each user that it cannot be reversed, so you have to be aware, once confirmed, will not return and do not regret completion. If the transaction has been confirmed, you cannot refund work.

No, because in my opinion although using the double shopping method to cancel it is not possible because it will definitely be processed quickly one by one and cannot be canceled. and of course when we cancel it requires a process but the bitcoin transaction continues.
the solution is we must be careful before doing something not random.

You know there was a time I actually have it a thought. It's on the blockchain for all to see and once the transaction goes, there are lots of things involved. For example the miners, once you send a transaction, the miners nodes pick it up and it's lined to its receiver. If you want to cancelled , does that mean the miners would refund you? So many things to think about all made me to believe it's impossible. So whichever errors you made in your transaction, don't make in next one.

Sometimes you wouldn't have the option to outcompete the transactions because there won't be any option for you to do that and transaction fees are automatic. I don' think there's really any solid run-around for making such mistakes so you just have to be very careful.

No, that is not possible for sure. You have to be really careful with the clicks you do, especially when you are trying to trade something and convert it in real cash. One of the mistakes that I've heard is sending bitcoin to an eth wallet. If you do this, your funds will get lost since the address is not appropriate. No man can benefit from that move.

Yup as long as rhe transaction is not successful it can be,but if done then nothing we can do and it was explained few post above us

Is it really possible?well atleast there are still chance to recover when hack though its very isolated cases and will only happen once in a blue moon

Exactly you are right mate that if we make any transactions with Bitcoin then it’s impossible to cancel it. But I've heard from my friend that if transaction is not confirmed then there have some way but I dont know how to do it.

The only time someone is able to get funds back from a hacker is if they find out a transaction was sent right after it happened and they try to out compete that tx with a really high fee to incentivize the miners

The very first step in cancelling the bitcoin transaction is to check whether or not it has been confirmed. If the transaction has a conversation, you can’t cancel the transaction as confirmed transactions are irreversible and permanent.
However, if the number of transactions is zero, you can cancel it. There are two different methods on how to cancel your bitcoin transactions.

• RBF (Replace by Fee)
  Double Spending by Setting a Higher Fee

Some wallets support the RBF protocol that allows you to replace the original transaction with a new one with a higher transaction fee. This’d effectively undo the operation.
However, if you want to use this feature, you'd need to make the original transaction replaceable. 
If you cannot use RBF, you may still be able to cancel your Bitcoin transaction by doubling your expenses with higher fees. To do this, make a new transaction equal to the amount of the original transaction and send it to yourself. Make sure the transaction fees are significantly higher than you originally paid.
You may need to use another portfolio or specialized software to double the transaction costs and distribute them over the network. If all goes well, the miners will pick up the new transaction, and your Bitcoin will return to your wallet. Most miners and portfolios, however, have guarantees against double spending, so it is still very likely that this method does not work.         

There is nothing we could do once we already sent it even if it is not yet confirmed .
That is why we need to make sure that every time that we would make a transaction the address is correct we should always double check it before we send our money.
I don't really think that there would be something like reverse or cancel bitcoin transaction even in the future .

If you are sending the transaction from blockchain, immediately you click the send button , I do not think it's possible to reverse or cancel the transaction again .
This is because once the send button is clicked on, it sends signal for the coins to be mined.
And there's no way of getting messages across to miners not to mine that particular transaction .

Once your bitcoin transaction has been send into blockchain explorer, it cannot be cancel anymore. But if you made a transaction in the exchange site platform without confirming it to your email or 2FA You can still cancel it as long as your not submitting a confirmation whether to your email or security code.

 Yeah sometimes it's a scammer or a phishing site that gets people but most of the time it's their own carelessness. We should understand that already that before we make the final send, we have to make sure we placed the correct information first. It's a one miss you die deal 😛

a several hours of waiting is not normal anymore , how much more if its over a day or two but in your case its been already a week and you dont recieve your funds  .  better if you can contact the support of the exhange that you are using of you can use some kind of accelerator service  online  . that is what i do if one of of my transactions have been stuck for a longer time  .  and if im not mistaken there is also a service or a wallet/exchange that allows you to put extra fees or to modify the fees of your previous transaction ( the unconfirmed one ) because you maybe putting a verry small fee in which miners ignore it  .

I don't think it is possible for one to cancel or reverse as the case maybe Bitcoin transaction before and after first comfirmation or after. And you have to careful of whoever promise you such services for there are scam site everywhere looking for who they will milk his or her money in the name of trying to helping you.

There is no way to reverse bitcoin transaction but you can be able to see it how it was being done because it is recorded in a block chain technology. So, if you will going to have some adjustments to be made then you can do it by getting the copy of the transactions and then make another transactions to justify if it is the lack of funds being forwarded or if the other party should make a refund.

However, it is difficult to address a problem is the transaction done in a wrong address and that would be really a problem because we can't identify the owner of the address so that one can request to the receipient about it and to send it back.

of course not, it can be reverse or cancel, because as we know that bitcoin is irrevesible transaction, when you submit transaction and listed on blockchain, you will never cancel it or reverse it automatically, the manual way is sending back manual from receiver address

We cant reverse and cancel bitcoin transactoin but can force the transaction to be tag as double spent and make transactoin either canceled by the blockchain and refund from the sender,