Is there a way to cancel long unconfirmed transaction?

dimonstration

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Dimon6969

Quote from: nc50lc on May 22, 2023, 03:09:25 AM

Quote from: dimonstration on May 21, 2023, 11:04:53 PM

-snip- because I'm not interested anymore in the deal even if it needed to be paid by me just stop this madness of badgering.

In that case, just send him back his coins after it get confirmed.
The transaction fee for a refund transaction wouldn't be an issue (based from the context) if you have to return to him the bitcoins that he have sent.

Or you could also use it as an opportunity to CPFP his transaction: just set a higher transaction fee to the refund transaction so it can bump his transaction.
Just make sure to spend the correct UTXO (the output of his transaction) by utilizing "coin control" of your wallet.

My item is on the care of escrow which we are both waiting for this transaction to confirmed before we can all move on. The problem is he doesn’t want to bump the fee while the bump feature on my wallet for the incoming transaction doesn’t have this option.

Appreciate all the reply everyone. I will try to ask first the person I’m dealing with if he wants to post public our transaction. For the mean time, I will lock this thread since I knew that there’s no way to completely remove this stuck transaction.

Cookdata

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Not Your Keys, Not Your Bitcoin

Quote from: dimonstration on May 21, 2023, 11:04:53 PM

I have an incoming transaction from someone that will gonna purchased my item. The problem is the transaction is already stuck in an unconfirmed state for so many days due to the very low transaction fee set by my buyer. He doesn't want to bump the fee and we are just both waiting to confirm for whatever time it is. I'm planning to cancel the deal but the problem is the transaction is still not failed or confirmed.

I wonder if there is a method to cancel this kind of transaction manually because I'm not interested anymore in the deal even if it needed to be paid by me just stop this madness of badgering.

The solution to your situation depends on the type of wallet you used to sign the transaction. If your wallet has RBF (Replace-By-Fee) enabled by default (you can check this by scanning the transaction ID on the Blockchair explorer or your wallet settings), you can increase the transaction fee by replacing the transaction with a higher sats to expedite its confirmation. However, if your wallet doesn't have RBF enabled or you didn't enable it prior to the initiation, there is no way to fasten your transaction, maybe accelerators can help but then, depends on the quantity of your input(s).

Alternatively, you can consider performing a Child Pays for Parent (CPFP) transaction. To provide a clearer explanation, it would be helpful if you shared the transaction ID since it involves a transaction between two individuals. If you are anticipating any change in that transaction, you can initiate a CPFP transaction, which should facilitate a quicker confirmation or, you could also advise the recipient to initiate the CPFP transaction and you guys can settle about that later.

nc50lc

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Self-proclaimed Genius

Quote from: dimonstration on May 21, 2023, 11:04:53 PM

-snip- because I'm not interested anymore in the deal even if it needed to be paid by me just stop this madness of badgering.

In that case, just send him back his coins after it get confirmed.
The transaction fee for a refund transaction wouldn't be an issue (based from the context) if you have to return to him the bitcoins that he have sent.

Or you could also use it as an opportunity to CPFP his transaction: just set a higher transaction fee to the refund transaction so it can bump his transaction.
Just make sure to spend the correct UTXO (the output of his transaction) by utilizing "coin control" of your wallet.

pooya87

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When you create a bitcoin transaction and broadcast it to the network, that transaction is not something that can be canceled. It will remain valid until (1) it is confirmed or (2) it is double spent (so it becomes invalid) and this secondary transaction is confirmed or (3) every single node out there forgets about it which may not happen since a single node can be out there with a different settings that keeps your transaction and keep broadcasting it to the rest of the network.

What people commonly call "cancel" is option number 2 where the sender resends the same coins to a new destination with a higher fee and gets that tx confirmed instead, ergo "canceling" the first one.

Little Mouse

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Marketing Campaign Manager |Telegram ID- @LT_Mouse

Depending on what wallet other party/sender is using, it's possible. If they are using electrum, it's easy to cancel. And what wallet are you using? Instead of waiting for the confirmation, you can also boost up the process by creating a new tx (to yourself) with the unconfirmed parent tx, with enough high fee. Again, it depends on the wallet you used.

dimonstration

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Activity: 2562

Merit: 659

Dimon6969

I have an incoming transaction from someone that will gonna purchased my item. The problem is the transaction is already stuck in an unconfirmed state for so many days due to the very low transaction fee set by my buyer. He doesn't want to bump the fee and we are just both waiting to confirm for whatever time it is. I'm planning to cancel the deal but the problem is the transaction is still not failed or confirmed.

I wonder if there is a method to cancel this kind of transaction manually because I'm not interested anymore in the deal even if it needed to be paid by me just stop this madness of badgering.

Topic: Is there a way to cancel long unconfirmed transaction? (Read 81 times)