Pages:
Author

Topic: I sent bitcoins and found that transaction is too large - what to do ? (Read 6882 times)

legendary
Activity: 3416
Merit: 4658
No one can undo the transaction unlike paypal transaction...
Wrong. The miner with 51% power can.
A miner with 51% of the hashrate can do it with 100% success rate while one with 40% can do it with 50% success rate
- snip -

That depends on how long they can maintain that hash rate.  If the network surpasses their hash rate before they complete enough blocks, they won't be able to.
legendary
Activity: 2954
Merit: 4158
No one can undo the transaction unlike paypal transaction...
Wrong. The miner with 51% power can.
A miner with 51% of the hashrate can do it with 100% success rate while one with 40% can do it with 50% success rate when it is confirmed. That aside, it is possible for it to be reversed by double spending if majority of the network drops your transaction from mempool, those with reference client would relay it as there is no conflicting inputs. Alternatively, a miner can mine a block and include your new transaction in and the rest of the network would consider the other transaction as invalid and reject it.
legendary
Activity: 1260
Merit: 1019
No one can undo the transaction unlike paypal transaction...
Wrong. The miner with 51% power can.
legendary
Activity: 1638
Merit: 1046
No one can undo the transaction unlike paypal transaction... may you can wait 5 days to get back your bitcoin to your wallet,....
legendary
Activity: 2320
Merit: 1292
Encrypted Money, Baby!
@ranochigo and DannyHamilton: thank you both for your answers. Very enlightening, helped me a lot to understand how transactions work in general. Much appreciated.
legendary
Activity: 1260
Merit: 1019
That is very unlikely.
But this will be possible.
Take any "dead" altcoin where no one is mining.
Are you able to create alternate blockchain not from the top block? Yes.
The future of bitcoin will be the same when the difficulty drop down.

Yes. This will be not today and even not tomorrow.
legendary
Activity: 3416
Merit: 4658
2) Can I undo confirmed transaction in bitcoin some day in future? Yes.

That is very unlikely.

Perhaps, if you are very VERY lucky, you *might* be able to undo a transaction that has only 1 or 2 confirmations.  As the number of confirmations increases, it becomes exponentially more unlikely until for all intents and purposes it is no longer possible at all.

If there is a day in the future where you can reliably undo a bitcoin transaction that has more than a few confirmations, then bitcoin will have become completely broken and worthless.  As such, it will no longer carry any value and there will be nobody interested in performing any value based transactions any longer.
legendary
Activity: 1260
Merit: 1019
You can't undo a transaction that has been fully confirmed
Wrong. I can not undo bitcoin transaction today.
1) Can I undo confirmed transaction in some dead coin? AuroraCoin or one other ShitCoin? Yes.
2) Can I undo confirmed transaction in bitcoin some day in future? Yes.
legendary
Activity: 1638
Merit: 1046
bro whats is  the minimunm fee of elctrum per kb? some times i can send without fee.... but this time my sending btc still pending....
legendary
Activity: 2674
Merit: 2965
Terminated.
Nobody can undo a transaction.
Wrong. I can.
Bitcoin transactions are irreversible. What you are saying is different than reversing it but I can't understand it. Can you elaborate?
You can't undo a transaction that has been fully confirmed (possible but very hard, and it gets harder with each confirmation). Unconfirmed transactions are not in the blockchain. You can however (shall the need arise), delete the old (still unconfirmed) transaction from your wallet and re-send it with a higher fee. This is what you a double spend. Your second transaction will confirm much faster and the previous one will be invalidated.

OP if you really feel like you need to do this instead of waiting then look at this link.


If they were unconfirmed, then they were never in the blockchain in the first place.  Therefore, they can't "disappear forever from the blockchain".
Bolded, because most will chose to ignore it and reply to the thread. Interestingly only a small amount of users are aware of double spending a unconfirmed transaction.
legendary
Activity: 3416
Merit: 4658
I have a question concerning this. I read that e.g. blockchain.info will "forget" (a.k.a. remove from mempool) a transaction after 48 hours, iirc.

That sounds about right.  I'm not sure exactly what duration blockchain.info has chosen for their database, but it seems to be more than a day and less than a week.

Is that a special implementation at blockchain.info or is that something that applies to any wallet, no matter if it's on a mobile phone, a web wallet or a locally installed one on your PC/Notebook/Mac/whatever?

Each wallet handles unconfirmed transactions in its own way as determined by the person (or people) that created the wallet.  As an example, Bitcoin Core never forgets a transaction that it has sent (unless the user makes extraordinary effort to remove the transaction from the wallet.  Instead, it just keeps on re-broadcasting the transaction every now and then in case any peers have forgotten about it.  Most full nodes will hold unconfirmed transactions that they have received for a while, but eventually they will remove them to make room for new transactions in the memory pool.  The amount of time that the received transactions are held in the memory pool depends on the implementation, there are no protocol rules forcing any node to keep a transaction in their memory pool for any specific amount of time.

And, do such transactions indeed appear in the block explorers (as they were propagated to the network, already), stay in mempool and as soon as the period of 48 hours has passed, they disappear from the block explorers (if they were not included into a block)? Are they sort of "unpropagated" then, or do they have a flag set which "undoes" those transactions,

That's up to the people running the block explorer.  Each block explorer can decide for themselves how they want to handle transactions that aren't confirmed after a significant amount of time.  You'd have to list which explorers specifically you want to know about for anyone to be able to tell you what each one does.

or do they disappear forever from the blockchain then?

If they were unconfirmed, then they were never in the blockchain in the first place.  Therefore, they can't "disappear forever from the blockchain".
legendary
Activity: 2954
Merit: 4158
It'll either get confirmed or dropped within days. if it gets dropped just send it again with more fees.
I have a question concerning this. I read that e.g. blockchain.info will "forget" (a.k.a. remove from mempool) a transaction after 48 hours, iirc.
Is that a special implementation at blockchain.info or is that something that applies to any wallet, no matter if it's on a mobile phone, a web wallet or a locally installed one on your PC/Notebook/Mac/whatever?

And, do such transactions indeed appear in the block explorers (as they were propagated to the network, already), stay in mempool and as soon as the period of 48 hours has passed, they disappear from the block explorers (if they were not included into a block)?

Are they sort of "unpropagated" then, or do they have a flag set which "undoes" those transactions, or do they disappear forever from the blockchain then?
Forget means that they do not rebroadcast after it gets dropped out of the mempool. The amount of time it takes for a transaction to drop out of mempool depends on whether the wallet rebroadcast it again and again. If it always does that, the transaction will not drop out of the mempool till it confirms. At times, people can rebroadcast it for you even if they have no private key. The hex version of the transaction is easily obtainable and can be used to broadcast transactions. After it gets dropped out of the mempool, it will not leave a trace unless someone decides to broadcast it again. It would be invalid if it gets spent already. I once sent a 0 fee low priority transaction using multibit and it never got dropped even though I uninstalled it and it tools several weeks to confirm. It is possible to disable rebroadcast as of bitcoin core 0.11
legendary
Activity: 2320
Merit: 1292
Encrypted Money, Baby!
It'll either get confirmed or dropped within days. if it gets dropped just send it again with more fees.
I have a question concerning this. I read that e.g. blockchain.info will "forget" (a.k.a. remove from mempool) a transaction after 48 hours, iirc.
Is that a special implementation at blockchain.info or is that something that applies to any wallet, no matter if it's on a mobile phone, a web wallet or a locally installed one on your PC/Notebook/Mac/whatever?

And, do such transactions indeed appear in the block explorers (as they were propagated to the network, already), stay in mempool and as soon as the period of 48 hours has passed, they disappear from the block explorers (if they were not included into a block)?

Are they sort of "unpropagated" then, or do they have a flag set which "undoes" those transactions, or do they disappear forever from the blockchain then?
hero member
Activity: 756
Merit: 500
It'll either get confirmed or dropped within days. if it gets dropped just send it again with more fees.
legendary
Activity: 1638
Merit: 1046
just like mine i was send btc to another btc wallet and untill now its pending my fee is 10 bits and my send btc is 5000bits....
full member
Activity: 224
Merit: 100
I have sent transaction which has 340 inputs with 0.0001 btc fee.. I discovered that after sending from my Electrum wallet.
Now blocktrail.com shows that tx has not enough fee, and transaction is in pending two days.
Will my transaction come back if it will not be propagated ?

Electrum do not "forget" a sent transaction. The transaction will remain in your wallet. I believe you have to wait for the transaction to disappear from mempool. This could take a few days, verify on a few blockexplorer sites.

Meanwhile, you need to backup your wallet. Then restore your wallet from seed. This way, the unconfirmed transaction will be gone from your wallet. Once you made sure the transaction is removed from mempool (not found on multiple blockexplorer sites), you can create a new transaction with the correct fee.

I did as you suggested, and after restoring from seed and on another computer with another electrum I got the same unconfirmed transaction in pending.

At the moment transaction is not found on any known block explorers. Can I make another spent from current unconfirmed spends ? Or maybe other suggestions
how to resolve this situation.
legendary
Activity: 1456
Merit: 1078
I may write code in exchange for bitcoins.
Nobody can undo a transaction.
Wrong. I can.

Bitcoin transactions are irreversible. What you are saying is different than reversing it but I can't understand it. Can you elaborate?

P.S. I forgot to tell that a miner controlling more than 51% hashrate can double-spend Bitcoins or reverse an unconfirmed transaction by only accepting the transaction he wants to be confirmed. CMIIW.

MZ, we're not talking here about a transaction that has been confirmed.  We're talking about an unconfirmed transaction.
legendary
Activity: 1078
Merit: 1024
ouch electrum has transaction fees.... im using electrum too... i didnt know that transaction have fees. than like bitcoin core....
All transactions have fees. You need transaction fees in order to get a miner to include your transaction in a block. Every client should be setting fees by default, not just bitcoin core.

For sure, although you should always be able to set a custom fee. Some wallets won't let you do that.
sr. member
Activity: 448
Merit: 250
I would wait for the transaction to finish. Next time pay a bigger fee and the transaction will be faster. Double spending will only hurt the network.
staff
Activity: 3374
Merit: 6530
Just writing some code
ouch electrum has transaction fees.... im using electrum too... i didnt know that transaction have fees. than like bitcoin core....
All transactions have fees. You need transaction fees in order to get a miner to include your transaction in a block. Every client should be setting fees by default, not just bitcoin core.
Pages:
Jump to: