How can i reverse a Bitcoin transaction?

nakamura12

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Quote from: Z390 on May 01, 2023, 08:41:56 AM

Almost all the replies in this thread said the same thing and they are right that you can't reverse a Bitcoin transaction after sending them, you will have to tell the receiver to send the Bitcoin back to your wallet, that's if they are friends or families that listens to you, in most cases, if you mistakenly send Bitcoin to stranger do not expect it back because you just throw your Bitcoin away.

I believe you have enough answers which are all probably the same thing, that's why I think it's better to close this thread OP, you can do so by locking the thread, you can find the lock below. Scroll all the way down and look for ( Lock Topic ) .

They already did answer if it is possible and you just repeat it again. I wonder why the OP hasn't locked the thread when his question is already answered many times.

Z390

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Almost all the replies in this thread said the same thing and they are right that you can't reverse a Bitcoin transaction after sending them, you will have to tell the receiver to send the Bitcoin back to your wallet, that's if they are friends or families that listens to you, in most cases, if you mistakenly send Bitcoin to stranger do not expect it back because you just throw your Bitcoin away.

I believe you have enough answers which are all probably the same thing, that's why I think it's better to close this thread OP, you can do so by locking the thread, you can find the lock below. Scroll all the way down and look for ( Lock Topic ) .

tranthidung

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

after which I can't reach out to the recipient directly.

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

You lost it if the transaction was confirmed (if you meant completed is confirmed by miners).

Quote

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Nobody can verify your reasons are genuine or not, honestly.

The only chance is if the receiver is a good person, who will send that amount back to your wallet address or will do it if in contact with you. It happens sometimes that receivers are kind and return the amount they received from unknown senders even they don't know why they received it.

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!

As you’ve been told, bitcoin transactions is irreversible once it has been confirmed into the blockchain. Always check and recheck before proceeding with any transaction.

I'll also add that there are a number of fraudsters out there who are willing to prey on those who have lost their bitcoins as a result of fraud, a Ponzi scheme, or even just human mistake. Don't fall for it because it's a trap to use your vulnerability to steal from you again. They pose as computer experts who can help you recover your lost funds, even going so far as to create websites where people will give reviews that they've been helped in the past. So exercise caution in the cryptosphere and keep your security (private keys) confidential.

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Quote from: _act_ on April 30, 2023, 08:20:37 AM

Quote from: Jimmycrooks on April 30, 2023, 08:11:06 AM

Your only hope is for the recipient to voluntarily send it back to you.

Do you know how many bitcoin private keys and addresses that can exist? If they are sands, this world can not contain it. What if the coin is sent to an address that belongs to no one? Better not to send coins to a wrong address.

I honestly don't not understand what you mean by this

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Quote from: _act_ on April 30, 2023, 06:20:02 AM

To avoid it is just the best. Who will be looking for such message when light client wallets will not let you know. Most people will not track transaction too. The address may belong to no one. If it belongs to someone, like clipboard malware, the bad person will not send the coin back.

Yes, prevention is the cure. The advise is merely meant for situations where it's already a done deal. The chances are not very likely but at this point, anyone who made such mistake probably would wanna exhaust all their options regardless of whether the chances are unlikely or not. But I do agree that if it's from a malware, they will never send it back.

Quote from: _act_ on April 30, 2023, 08:20:37 AM

Do you know how many bitcoin private keys and addresses that can exist? If they are sands, this world can not contain it. What if the coin is sent to an address that belongs to no one? Better not to send coins to a wrong address.

Wdym by no one? transactions initiated to invalid addresses shouldn't push thru.

_act_

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Quote from: Jimmycrooks on April 30, 2023, 08:11:06 AM

Your only hope is for the recipient to voluntarily send it back to you.

Do you know how many bitcoin private keys and addresses that can exist? If they are sands, this world can not contain it. What if the coin is sent to an address that belongs to no one? Better not to send coins to a wrong address.

Jimmycrooks

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I'm really sorry bro but your bitcoin is gone forever. Once a transaction has been added to the Blockchain it is irreversible. Your only hope is for the recipient to voluntarily send it back to you.

To avoid this from ever happening, before you make any transaction always make sure you double check the recipient's address or the amount you want to send. That's the only help I can offer to you right now. once again sorry

_act_

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Quote from: lovesmayfamilis on April 29, 2023, 05:11:40 AM

This happened to me once. The virus changed the address of the recipient, and a certain amount was deducted from my wallet

This forum is good because likely you weren't on this forum by that time. But even if someone's device is completely cold wallet, it is always good and better to check the address the person is sending to. No matter how small the the coin is, it is good to confirm if the address is correct or not.

Quote from: Potato Chips on April 29, 2023, 04:54:56 PM

At this point it all relies on hope that they'll send it back to you.

You could try to send them small amount of btc preferrably from the same address and use OP_RETURN to add a simple message however there's a high chance, they won't be able to even notice the message.

In short, prevention is the cure.

To avoid it is just the best. Who will be looking for such message when light client wallets will not let you know. Most people will not track transaction too. The address may belong to no one. If it belongs to someone, like clipboard malware, the bad person will not send the coin back.

Stable090

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!

Sorry for your lost your bitcoin is gone already, make sure you check the wallet you are sending to multiple times before processing your transaction. One of the thing I will like to tell you is avoiding scammers that will send you Dm asking you to pay them that they will get you your bitcoin back, all of them are scammers, they just want you to lose more money, don’t believe anyone that send you website link and ask you to input your details you will get your bitcoin back, they just want to scam your, that’s another strategy scammers do use and they notice you are a newbie so they will want to make use of the opportunity.

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

It seems the amount isn't quite enormous if you've lost it, rather than others having a very costly experience to learn.

Once it has at least 3 confirmations it's unlikely to apply even an RBF because it's totally confirmed transaction.
Once a transaction has been confirmed, it becomes a permanent part of the blockchain, and its inputs are considered spent. So you need to move on and learn from this mistake. It has been said above, if you've used a centralized wallet and you know where your Bitcoin landed, the only way to reverse the transaction would be to convince the recipient to send the funds back or to use a third-party service that specializes in recovering lost or stolen Bitcoin but it has a less chance of this and if the amount is worth it to recover.

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Quote from: Potato Chips on April 29, 2023, 04:54:56 PM

At this point it all relies on hope that they'll send it back to you.

Of course, that's because the OP said that the transaction was completed which can then be assumed that the transaction was confirmed. But OP has a chance that as many have said, double spending is possible as long as the transaction is not confirmed.

So I think the OP's question has been answered, actually more than once, this has solved the problem, but obviously he can't get his bitcoin back if the recipient won't send them back. I hope this isn't the case, but just about if he or someone comes up with such a situation one day.

Potato Chips

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At this point it all relies on hope that they'll send it back to you.

You could try to send them small amount of btc preferrably from the same address and use OP_RETURN to add a simple message however there's a high chance, they won't be able to even notice the message.

In short, prevention is the cure.

lovesmayfamilis

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This happened to me once. The virus changed the address of the recipient, and a certain amount was deducted from my wallet, although not a large amount, but all my experiences ended with the fact that I got the experience of carefully checking to whom I sent what.
It was a long time ago that I thought that I could demand my money back, as the owner of PayPal could complain, but in vain.
There is a good topic on how to avoid copy-paste errors; I think it will be useful to you, OP.

https://bitcointalksearch.org/topic/how-to-lose-your-bitcoins-with-ctrl-c-ctrl-v-5190776

Asuspawer09

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

For example, suppose I transfer a BTC worth 0.00023 to another address and the transaction is completed, but I later realize that it was sent to the wrong address or that I sent in excess to the next address owing to human shortcomings, after which I can't reach out to the recipient directly.

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!

If the transaction is already completed there's no way you could reverse the transaction because the funds are already on the address when you sent it. I mean it's decentralized so if you copy the wrong address your Bitcoin is already lost. So what you can do is be careful and make good practice of checking the address where you going to send your Bitcoin.

Dont, make it a habit to just copy the address or just check the first 4 or last 4 characters since there are also cases about it.. Make sure to always copy the address on your wallet before sending it.

Quote from: dzungmobile on April 28, 2023, 09:58:48 PM

Bitcoin transactions are irreversible but to have safer guarantee for your transactions, you must pay attention on its confirmations.

How many Bitcoin confirmations is enough?.

You have to consider the number of confirmations with the value of transaction you are doing.

Quote

1 confirmation: sufficient for small payments less than $1,000.
3 confirmations: for payments $1,000 - $10,000. Most exchanges require 3 confirmations for deposits.
6 confirmations: good for large payments between $10,000 - $1,000,000. Six is standard for most transactions to be considered secure.
10 confirmations: suggested for large payments greater than $1,000,000.

Tools

https://jlopp.github.io/bitcoin-confirmation-risk-calculator/ (it has a bug)
https://web.archive.org/web/20181231045818/https://people.xiph.org/~greg/attack_success.html (this one is correct)

There are times that the transition might fail so the funds will just go back to your wallet, I guess if you use very small fees. And you cant really contact the owner of the address because where are anonymous here. I mean you could ask on some forums like here if they are the owner and ask them to send it back but the chances are very low.

_act_

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Quote from: petulino on April 28, 2023, 09:13:16 PM

I searched in google to find any possible solution but really sorry to say that there is no way to reverse or alter the transaction once it confirmed in Blockchain. i also sent Ethereum to wrong address months ago and did not find solution yet

This discussion is not about ether, it is about bitcoin. Sorry for your loss. It is good to check very well that the address you are sending to is correct, even if it is either bitcoin or an altcoin.

Quote from: acroman08 on April 29, 2023, 12:18:59 AM

once the transaction is confirmed, there is no way of reversing it. if someone PM'd you or saw a platform saying that they can help you with your issue, they are lying and most likely a scammer. anyway, I hope you read what the members have said so you won't do the same mistake or if you did the members have written what you need to do.

There are some sites that called themselves recovery service, they are also lying and they are scammers.

acroman08

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

once the transaction is confirmed, there is no way of reversing it. if someone PM'd you or saw a platform saying that they can help you with your issue, they are lying and most likely a scammer. anyway, I hope you read what the members have said so you won't do the same mistake or if you did the members have written what you need to do.

dzungmobile

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Bitcoin transactions are irreversible but to have safer guarantee for your transactions, you must pay attention on its confirmations.

How many Bitcoin confirmations is enough?.

You have to consider the number of confirmations with the value of transaction you are doing.

Quote

1 confirmation: sufficient for small payments less than $1,000.
3 confirmations: for payments $1,000 - $10,000. Most exchanges require 3 confirmations for deposits.
6 confirmations: good for large payments between $10,000 - $1,000,000. Six is standard for most transactions to be considered secure.
10 confirmations: suggested for large payments greater than $1,000,000.

Tools

https://jlopp.github.io/bitcoin-confirmation-risk-calculator/ (it has a bug)
https://web.archive.org/web/20181231045818/https://people.xiph.org/~greg/attack_success.html (this one is correct)

petulino

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I searched in google to find any possible solution but really sorry to say that there is no way to reverse or alter the transaction once it confirmed in Blockchain. i also sent Ethereum to wrong address months ago and did not find solution yet

Faisal2202

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Bro if you could find a way please do let me know, because i have lost hell lot of money just due to these mistakes, the only way to reverse the transaction is to ask receiver to send it back but as you aforementioned you can't contact them then its not possible. Because a transaction is a what? it's either completed, pending or failed once its in any of these state, like in pending state and due to less fee or not validating by any validator then it will reverse and the amount will not even reflect in receiver's wallet and considered as failed and if it succeeds then it will be tagged as completed.

Once the transaction is completed it means the metadata of transaction is updated into the blockchain and cannot be reversed, as we can not manipulate updated data, that's the main purpose of blockchain to keep everything transparent and free of manipulation and that's why governments dislike it.

All i can say, please be aware next time double-check your wallets these types of mistakes are self driven and there are many attacks occurred too to make you do this mistake such as address poisonings.

Dr.Bitcoin_Strange

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Yes, and just as others have told you, there is no way you can get back your spent bitcoin; the only way would be if you had known the person you sent it to, but since you don't, that means your bitcoin is gone. sorry.

As a Bitcoiner, when dealing with wallet transactions or payments with Bitcoin, you should be very careful. Make sure to check the wallet over and over again. If you don't feel convinced enough, you can still call the recipients to inquire if the address still belongs to them. I think a lot of crypto users may have made the mistake of sending their Bitcoin or other coins to the wrong address, but for you, just try not to make the mistake next time.

BitMaxz

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Double spending is the only way for unconfirmed transactions to send the BTC back to your wallet but the problem is it's only done on the congested network where the transaction is still unconfirmed and if it's not RBF enabled then you can't double spend.

I never sent a BTC to the wrong address if I were you before you send BTC always make sure or double check the address or before you deal with someone always research and ask to someone trusted to avoid this issue in the future this is not the same as Pay Pal that you can dispute and reverse the transaction.

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

For example, suppose I transfer a BTC worth 0.00023 to another address and the transaction is completed, but I later realize that it was sent to the wrong address or that I sent in excess to the next address owing to human shortcomings, after which I can't reach out to the recipient directly.

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!

There is no way to cancel transaction once it has been confirmed, but double spending is possible as long as the transaction has not been confirmed. So if you have made wrong transaction, especially if it has been confirmed, then there is only one way, ask the recipient to send your bitcoin back or let it go.

Some wallets allow you to double spending, while others may not. Even if you still might cancel the transaction, the wallet you use must also support double spending.

Smartvirus

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Quote from: BitcoinPanther on April 28, 2023, 03:13:39 PM

You can use RBF and send it to other address in order to cancel your transaction. Meaning you need to double spent your Bitcoin where you send another transaction with higher fee to replace the current transaction. Read this article to know about double spending.

Yeah, I have done this a few times and attend some great success with it although, I was sending the transaction to an exchange but, cancellation wasn't the intent but, that's what did result. Having to send either same amount with a higher fee and broadcast on the network would cancel an unprocessed transaction running on the same wallet.

So yeah, it's possible before confirmation and not after. Once there is as much as one confirmation on the transaction, its all gone. Not being able to reach out to your recipient for a reverse simply confirms it.

Baofeng

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[quote author=iBaba link=topic=5450545.msg62164306#msg62164306 date=1682710034]
For example, suppose I transfer a BTC worth 0.00023 to another address and the transaction is completed, but I later realize that it was sent to the wrong address or that I sent in excess to the next address owing to human shortcomings, after which I can't reach out to the recipient directly.

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!
[/quote]

Bitcoin transactions are irreversible, you can read the reasoning of Satoshi in the Whitepaper, specially in the "Introduction".

[img width=450]https://talkimg.com/images/2023/05/16/blobdd4c237912d0e30e.png[/img]

https://bitcoin.org/bitcoin.pdf

So may I suggest for newbies or even for those who have been in Bitcoin and crypto market in general to read the Whitepaper if we have doubts about it.

Cryptomultiplier

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I like this thought pattern. However, with even a centralized exchange it is quite impossible, let alone a decentralized network that doesn't have a backdoor or physical office where you could easily go to lay complaint.
This is one reason why it is always advisable to triple check if possible, the receiver/recipients address before completing a transaction, otherwise once it is sent, it is sent, unless if you meet a person who is humane enough to refund after a mistake BTC transaction.

coupable

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I regret to inform you that you lost that bitcoin forever if you sent it through the main bitcoin network and not through a centralized third party. The amount that you mentioned is not that big, and it can be considered as a price for the lesson that you learned by verifying the recipient’s address several times before broadcast the transaction. In general, if you use any Bitcoin wallet, warning messages will appear before sending to verify the recipient address and amount.
The only case in which a transaction can be rebroadcasted is before it has been confirmed on the network. Unfortunately, this feature is not available on all wallets.

Saint-loup

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Quote from: Nwada001 on April 28, 2023, 02:28:41 PM

You can't reverse any completed transaction if it's sent to the wrong address; it's lost forever, and there are no two ways about it; you just have to accept the loss and move on. It's only on a centralized system that there could be the possibility of a reverse transaction, but as far as Bitcoin is concerned, there are zero chances of recovery.

Unless the person you mistakenly sent it to will receive it and decide to send it back to you, which I have never come across in the history of lost transactions.

Not all people are dishonest and I have heard several stories of people returning funds. In addition it's not safe to keep funds from an unknown source, because unlike fiat cash money, all transactions are publicly registered on the blockchain, and you can get troubles if the funds are dirty.
If the mistaken address belong to someone and iBaba put an announce here along with a signed message from the address he used to send the funds, he can maybe get back his funds from the receiver.

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Quote from: The Cryptovator on April 28, 2023, 03:36:19 PM

Imagine purchasing goods from a store using Bitcoin and being able to reverse the transaction after leaving the store. Sounds intriguing, right? However, this raises a question about the true decentralization of the transaction. The fact is, once a transaction is confirmed by the blockchain, it cannot be reversed. The blockchain doesn't differentiate between a correct or incorrect address, it simply confirms transactions based on the fees paid. If funds are sent to an incorrect address, they are irrecoverable unless the address owner is known. Thus, the permanence of blockchain transactions reinforces its decentralized nature.

There is a condition where the transaction is irreversible. The condition is being confirmed. Unconfirmed transaction is susceptible to double spending and cancellation, this is another reason why merchants and exchanges do not send or deliver item or services unless it has 2 or 3 confirmation.

Bitcoin transaction is immutable once there is a sufficient confirmation. There are cases where a transaction needs a number of confirmation to be labeled safe or secured just like what this article is talking about.

The Cryptovator

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Imagine purchasing goods from a store using Bitcoin and being able to reverse the transaction after leaving the store. Sounds intriguing, right? However, this raises a question about the true decentralization of the transaction. The fact is, once a transaction is confirmed by the blockchain, it cannot be reversed. The blockchain doesn't differentiate between a correct or incorrect address, it simply confirms transactions based on the fees paid. If funds are sent to an incorrect address, they are irrecoverable unless the address owner is known. Thus, the permanence of blockchain transactions reinforces its decentralized nature.

kawetsriyanto

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When the transaction is completed, you have no chance to reverse the Bitcoin yourself. As far as I know, there is no application/tool to reverse it yourself.

It's the same as you send a good/item. Once it arrives at its destination, you can't take it back yourself. You need the help of the person you sent the BTC, kindly ask him to send back the BTC. If he is a good person, he probably sends back your Bitcoin. But if he refuses it, you lose your BTC forever.

In addition, if you send it on CEX, you can ask for help from customer services. They may help you or give you a solution!

Anyway, it is a must to be careful and always check again the destination address before you decide to send your BTC!!

BIT-BENDER

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If the required confirmation has been reached I am sorry to say that the transactions has been completed and there is no calling back.
Crypto-currency isn’t like the banking system that you can call back after transactions has been sent.

Quote from: iBaba on April 28, 2023, 02:27:14 PM

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Now what platform did you use to perform the transactions if it’s from your private wallet like Ethereum which is decentralized and the required confirmations has been reached then there is nothing you can do, but if it’s on a centralized exchange that requires KYC then depending on the efforts of the exchange or government involvement the receiver who has giving out their information can be reached but all this is another tedious process that may not still yield any results.

BitcoinPanther

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There is a confirmation window where you can cancel your transaction. Unless your transaction is confirmed, you can be able to cancel your transaction. You can use RBF and send it to other address in order to cancel your transaction. Meaning you need to double spent your Bitcoin where you send another transaction with higher fee to replace the current transaction. Read this article to know about double spending.

Take note, once the transaction is confirmed, it can never be reversed or it is harder to reversed and may need a huge amount of resources which is possibly we cannot afford. Only unconfirmed transaction has the huge possibility to be reversed or cancelled.

Quote

How to Reverse Unconfirmed Transactions?
There is no sure way to reverse a Bitcoin unconfirmed transaction. However, there are a few methods that may work, depending on the situation:

If the transaction is stuck because it pays too low a fee, you can sometimes use a service like Replace-By-Fee (RBF) or Child Pays For Parent (CPFP) to increase the fee and get it confirmed.
If the transaction is double-spent, you may be able to use a service like Replace-By-Fee to replace it with a higher-fee transaction.
If none of the above methods works, you may have to wait for the transaction to eventually confirm, or simply cancel it and send a new transaction.

here is another article[1] that explains how to cancel unconfirmed Bitcoin transaction.

[1] https://guardian.ng/business-services/business-roundup/how-to-cancel-a-bitcoin-transaction-if-unconfirmed/

Charles-Tim

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Before you broadcast a bitcoin transaction, check and recheck the recipient address. Any bitcoin transaction with 1 confirmation can not be reversed anymore.

If the transaction support RBF and not yet confirmed, you will be able to reverse it before it got confirmed. But if got confirmed, it can not be reversed anymore.

Hyphen(-)

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Quote from: iBaba on April 28, 2023, 02:27:14 PM

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Yes the Bitcoin is gone.
It is important to double-check the wallet address you are sending your Bitcoin to before sending it, as well as to ensure that the amount you are sending is the correct amount you are supposed to send, to avoid mistakes because Bitcoin transactions are irreversible.

Quote

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!

I don't think so because the transaction is anonymous; unless you know the person to whom you sent the Bitcoin, in which case you will ask him to return the remaining balance, otherwise it will be lost forever.

Nwada001

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You can't reverse any completed transaction if it's sent to the wrong address; it's lost forever, and there are no two ways about it; you just have to accept the loss and move on. It's only on a centralized system that there could be the possibility of a reverse transaction, but as far as Bitcoin is concerned, there are zero chances of recovery.

Unless the person you mistakenly sent it to will receive it and decide to send it back to you, which I have never come across in the history of lost transactions.

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For example, suppose I transfer a BTC worth 0.00023 to another address and the transaction is completed, but I later realize that it was sent to the wrong address or that I sent in excess to the next address owing to human shortcomings, after which I can't reach out to the recipient directly.

Does this imply that I have lost my BTC and will never be able to reverse or recover it?

Is there no way or platform to reverse erroneous transactions, especially when the reasons are genuine?

Thanks in anticipation!

Topic: How can i reverse a Bitcoin transaction? (Read 301 times)