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Title: Transaction Cancelation Post by: apoorvlathey on April 04, 2016, 10:14:30 AM I have seen some people that say their bitcoin transactions took too long and then got cancelled. I think the reason would be low transaction fee or some other. My question is that what would happen to the transaction fees submitted by the user in this case ? Would it also be returned?Why does this occur ?
I am asking this just for curiosity. Even though the chances of cancellation are very low. Title: Re: Transaction Cancelation Post by: CryptoDatabase on April 04, 2016, 10:16:59 AM If a transaction isn't confirmed then the entire amount sent is returned and no record is made. The way the blockchain and mining works is by verification. If the transaction wasn't verified then it technically never took place so the coins that were used stay associated with the address they were sent from.
Title: Re: Transaction Cancelation Post by: Alaki on April 04, 2016, 10:40:27 AM My question is that what would happen to the transaction fees submitted by the user in this case ? Would it also be returned? Yep, it would for sure.Why does this occur ? A transaction is basically rejected either 'coz of low fee or 'coz of dust output. Each & every transaction gets their priority in the blockchain network. There 're a bundle(bunch) of unconfirmed transactions waiting for the confirmation -> https://blockchain.info/unconfirmed-transactions . Basically, you've to spend more fee to get higher priority in the list & you'll get added to the next block. Dust outputs 're normally created by poor ponzi/gambling sites which ultimately results in the rejection of the transaction.Title: Re: Transaction Cancelation Post by: dothebeats on April 04, 2016, 11:03:31 AM My question is that what would happen to the transaction fees submitted by the user in this case ? Would it also be returned? Yep, it would for sure.Why does this occur ? A transaction is basically rejected either 'coz of low fee or 'coz of dust output. Each & every transaction gets their priority in the blockchain network. There 're a bundle(bunch) of unconfirmed transactions waiting for the confirmation -> https://blockchain.info/unconfirmed-transactions . Basically, you've to spend more fee to get higher priority in the list & you'll get added to the next block. Dust outputs 're normally created by poor ponzi/gambling sites which ultimately results in the rejection of the transaction.You can create transactions even if you don't include fees, however, the time it will take for your tx to be confirmed is way longer than the usual. Title: Re: Transaction Cancelation Post by: $_Aleks_$ on April 04, 2016, 11:35:44 AM ;D all right ;D
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