Topic: can you reverse or cancel a bitcoin transaction? - page 4. (Read 1182 times)
There is no way to do that, that is why you need to transact to people you trust or company that has a good buyer good rating, this is an advantages and disadvantages of blockchain and Bitcoin it's decentralized like PayPal or other online company where they can reverse the transaction for you if there is error in sending it.
we already know that all the bitcoin transactions that have been running, it is impossible to cancel because at that time the data block has begun to be resolved and this is not a transaction like what happens to cash that we can withdraw, so be careful in making wise transactions every time we place an order for bitcoin transactions, we know the risk
Double spending and reversing a transaction is actually two separate things. In a double spend you can spend the same bitcoin more than once. https://www.blockchain.com/en/charts/hash-rate
Reversing a transaction is similar to a chargeback with a credit card and this is not possible with Bitcoin under normal circumstances, when say 1 or more confirmations has been received. 
Reversing a transaction is similar to a chargeback with a credit card and this is not possible with Bitcoin under normal circumstances, when say 1 or more confirmations has been received.
Bitcoin transactions cannot be reverse or cancel. This is online transaction and when you pay bitcoin using online it is straight to the sellers system especially when you transact at the big business stablishment or company that already upgrade their system but when you are have a bitcoin transactions to a person to person buy and selling I think there is possibility that you may reverse your money by sending back your bitcoin.
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.
You can't cancel or revert a transaction.
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.
Merit you for a great explanation, I have not encountered a transaction where I could wish or plan to reverse, but this one is going to be a big help if ever I have I encounter something like this, this is a big help for those selling goods and offering services.
i wish it could have been possible to do. but any spent bitcoin cannot be cancelled. thats why it is always advisable to check well and be sure of where you are sending bitcoins to before clicking send button. in case of making payment in a store for good purchased, this would have been stated clearly to be mindful of sending bitcoins to wrong address or QR code scanning can be used this will avoid any issues of sending to wrong address.
--snip--
I don't know how this work but i am tested for 2 transaction and after 3 hours i get back , my transaction replaced with 0.0008 BTC amount in my wallet
i think here your destination wallet is not correct
I don't know how this work but i am tested for 2 transaction and after 3 hours i get back , my transaction replaced with 0.0008 BTC amount in my wallet
i think here your destination wallet is not correct
So, is it your scamsite, or are you just a payed shill? What this site portaits is theoretical impossible, so if you keep insisting something theorethical imposible has happened, the only logical conclusion is that you're trying to scam the users of this forum...
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 is not a cancel, and is not a reverse, that is just what you yourself said: A double spend. Only one may enter the blockchain, and that obviously is the one paying the higher fee, even when broadcasted later. Your window of opportunity could be a a small as the time remaining to find the next block, so its not even guaranteed you would succeed.
Unfortunately the likely people making the mistake probably didn't even bother lowering the tx fee shrinking their chance.
Moral of the story: triple check where you send your coins to.
You CANNOT reverse or cancel a tx.
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.
You can't cancel or revert a transaction.
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.
as long as I use Bitcoin I have never found a way to cancel a transaction, and I don't think we can do it, what I know is that there will never be a double transaction in Bitcoin.
Personally, I do not believe that bitcoin transaction can be cancelled after it's sent.
My assumption is that ...miners start the mining of bitcoin immediately it's the sent button is clicked.
There's no way of knowing which miner so as to signify to the person to cancel the transaction or reverse it.
It's just too complicated.
My assumption is that ...miners start the mining of bitcoin immediately it's the sent button is clicked.
There's no way of knowing which miner so as to signify to the person to cancel the transaction or reverse it.
It's just too complicated.
I was thinking of what is the one drawback which bitcoin has ? The only drawback is that if you sent the amount to wrong address or wrong amount to the right address even, the process cannot be reversed and therefore one should be extra careful when sending bitcoins to any address.
This is why unfortunately some binary options moved to cryptocurrencies, damaging the reputation of the whole crypto community.
Personally, I do not believe that bitcoin transaction can be cancelled after it's sent.
My assumption is that ...miners start the mining of bitcoin immediately it's the sent button is clicked.
There's no way of knowing which miner so as to signify to the person to cancel the transaction or reverse it.
It's just too complicated.
My assumption is that ...miners start the mining of bitcoin immediately it's the sent button is clicked.
There's no way of knowing which miner so as to signify to the person to cancel the transaction or reverse it.
It's just too complicated.
I was thinking of what is the one drawback which bitcoin has ? The only drawback is that if you sent the amount to wrong address or wrong amount to the right address even, the process cannot be reversed and therefore one should be extra careful when sending bitcoins to any address.
The transaction through bitcoin is a single way system. Once transferred will not get back an access to the funds anymore until the receiver manages to send back to the sender. With this before making a bitcoin transaction it is a must to be much careful. There is a possibility to cancel a transaction if it hasn't got connected to the block.
Bitcoin transactions cannot be cancelled. The process is irreversible and this is how the network has been built.
Personally, I find that as a good thing, as I wouldn't want to see that a transaction I had in my wallet during the night has been cancelled in the morning.
Personally, I find that as a good thing, as I wouldn't want to see that a transaction I had in my wallet during the night has been cancelled in the morning.
Personally, I do not believe that bitcoin transaction can be cancelled after it's sent.
My assumption is that ...miners start the mining of bitcoin immediately it's the sent button is clicked.
There's no way of knowing which miner so as to signify to the person to cancel the transaction or reverse it.
It's just too complicated.
My assumption is that ...miners start the mining of bitcoin immediately it's the sent button is clicked.
There's no way of knowing which miner so as to signify to the person to cancel the transaction or reverse it.
It's just too complicated.
you can reverse bitcoin transactions made by your own wallet with
I visited this site and quickly scanned the explanation they gave on how they cancel transactions, and all i can say is: that's not how this works... As soon as a transaction is confirmed, it's allmost impossible to cancel the transaction unless you own enough asic's to do a 51% attack... Any site claiming otherwise are a potential scam
This one is not a potential scam, it's a 100% genuine scam
Not only is their claim hilarious, but their script is also bugged, that address I posted and the tx are not 521 days old, they are 9 years old. Furthermore, they ask you for "Private key or your seed pharse" , yeah, pharse
.Fortunately, it seems that the payment address is always the same, no matter what you try and till now it has 0 transactions.
just as you will transfer money from bank A to bank B where after the confirmation notification appears and you confirm that your transaction is correct then you cannot cancel the transaction because your transaction is being processed and cannot be canceled by the system
You cant reverse or cancel a bitcoin transacton as far as i know,but there are tricks to not totally cancel bitcoin transaction but to remain unconfirmed and later on get back on the senders wallet i dont know how they do that but thats what i only know.
You can not cancel a Bitcoin transaction once it has been placed.
If the transaction is confirmed already then you cannot undone it. But otherwise I read some tricks that will make some adjustments while the transaction isn't confirmed yet. I found it in the first page of this this thread but I didn't verify since you need to do it accordingly.
the transaction has taken place then it cannot be canceled. like we pulled the trigger once pulled then it can't be canceled. be careful before making a transaction and don't rush into doing a transaction before we are sure of everything we do. Jump to: