Reverse transaction

[Monopoly]

see this link
https://bitcoin.org/en/you-need-to-know#instant

At the second row at table said  : Only safe if you trust the person paying you


Is there any approach for reverse a transaction before i take confirmations ?

[1714187593]

1714187593

[alani123]

There is, and anyone can do this. There's a tutorial here somewhere that I'll try to find.

However 1 confirmation is considered safe by many casinos and gambling websites that accept large transactions. If I'm not mistaken 'bust a bit' (ex moneypot) is one of them.

[alani123]

https://bitcointalk.org/index.php?topic=231309.0

Here is the guide. I've used this trick successfully to recover coins I had 'lost in limbo' with never confirmed transactions.

[lite]

see this link
https://bitcoin.org/en/you-need-to-know#instant

At the second row at table said  : Only safe if you trust the person paying you


Is there any approach for reverse a transaction before i take confirmations ?

If a transaction has 0 confirms it can be double spent or reversed [ https://en.bitcoin.it/wiki/Double-spending ]. It's really difficult to double spend though most of the sites credit your deposits only after 1 confirm.

[dothebeats]

https://bitcointalk.org/index.php?topic=231309.0

Here is the guide. I've used this trick successfully to recover coins I had 'lost in limbo' with never confirmed transactions.

This is an easy guide to reverse an unwanted transaction in case you input a wrong address. Btw, is this still doable on the core wallet? Never knew that bitcoin transactions are reversible and has a workaround for it.

[alani123]

https://bitcointalk.org/index.php?topic=231309.0

Here is the guide. I've used this trick successfully to recover coins I had 'lost in limbo' with never confirmed transactions.

This is an easy guide to reverse an unwanted transaction in case you input a wrong address. Btw, is this still doable on the core wallet? Never knew that bitcoin transactions are reversible and has a workaround for it.

Yes, this tutorial describes how to do this in the bitcoin QT (now named core). Same wallet.

And it's not like you 'reverse' transactions. It's not a double spend, just a way to cancel a still unconfirmed transaction. It's easy to interfere with 0 confirmation transactions and that's why they're considered risky.

[Tstar]

No i dont think there is a chance of reverse transaction..
but i do love to have it inbuilt in bitcoin world as it can help  alot.

[Itun]

Wow thanks for the info!

I knew these were possible but thought they were incredibly hard to execute.

I'll hold on to this just in case I make a mistake in the future.

[Blawpaw]

There is no possibility of reversing transactions as soon as they are confirmed. However, before any confirmation I think that there is the chance to cancel the transaction...

Try to understand a little more about this issue!

[ranochigo]

There is no possibility of reversing transactions as soon as they are confirmed. However, before any confirmation I think that there is the chance to cancel the transaction...

Try to understand a little more about this issue!

After one confirmation, the probability is still there if a mining pool controls 51% of the network hashrate. By controlling more than 51% of the hashrate, they would be able to generate blocks after than anyone else on the network. However, it is worth noting that he can only reverse his own transactions. Double spending involves more than one transaction spending a unspent output and all of them getting confirmed.Bitcoin network is designed to not let this happen. One of the transaction would get included in the block while the other would be considered invalid and would be forgotten by the network. The risk of accepting a double spend transaction while it is unconfirmed can never be eliminated completely but it can be reduced. You can ensure that all the inputs are confirmed, transaction having a good fee per kilobyte, connecting to different distributed geographical peers and ensuring that the transaction is propagated throughout the network fully.

[crairezx20]

There is no possibility of reversing transactions as soon as they are confirmed. However, before any confirmation I think that there is the chance to cancel the transaction...

Try to understand a little more about this issue!

Nice question bro i need this too... Im always wrong sending bitcoin to another wallet how can i get it back to my wallet... can you give some advise Bro

[alani123]

Nice question bro i need this too... Im always wrong sending bitcoin to another wallet how can i get it back to my wallet... can you give some advise Bro

Just few posts above I linked to a post addressing this. Have a look here. Really, it's the simplest guide you'd find on the topic. If your transactions get stuck often maybe try a more simple wallet that will take care of fees on its own.

[subSTRATA]

Wow thanks for the info!

I knew these were possible but thought they were incredibly hard to execute.

I'll hold on to this just in case I make a mistake in the future.

theyre not incredibly difficult if you know how to create a raw transaction, but double spends are harder to execute than they were in the past.

There is no possibility of reversing transactions as soon as they are confirmed. However, before any confirmation I think that there is the chance to cancel the transaction...

Try to understand a little more about this issue!

Nice question bro i need this too... Im always wrong sending bitcoin to another wallet how can i get it back to my wallet... can you give some advise Bro

just getting bitcoin back to another wallet/address of yours should require a double spend of some sort, just send it to the address you want your funds in. but the way you say that makes it sound like you want to double spend some sort of merchant payment.

[ranlo]

https://bitcointalk.org/index.php?topic=231309.0

Here is the guide. I've used this trick successfully to recover coins I had 'lost in limbo' with never confirmed transactions.

This only works if the transaction wasn't going to be confirmed. If you've sent funds, with a mining fee, and it already hit the blockchain, you can't reverse it. You have to do it BEFORE it's thrown in a block. Even if you "reverse" it at around the same time it's added to a block, you're screwed.

You cannot reliably use any trick to reverse a transaction.

[alani123]

https://bitcointalk.org/index.php?topic=231309.0

Here is the guide. I've used this trick successfully to recover coins I had 'lost in limbo' with never confirmed transactions.

This only works if the transaction wasn't going to be confirmed. If you've sent funds, with a mining fee, and it already hit the blockchain, you can't reverse it. You have to do it BEFORE it's thrown in a block. Even if you "reverse" it at around the same time it's added to a block, you're screwed.

You cannot reliably use any trick to reverse a transaction.

Hence why I said that I used it to recover transactions lost in limbo. Those transactions show a 0 confirmation transactions when searched in the blockchain. They've been out, but not included into any blocks. Most likely due to faulty fees, unspent inputs or for being 'dust'. Regardless of the reason such transactions get stuck though, a zero confirmation, meaning it has not yet been included into any block, has always been considered unreliable.

[ranochigo]

Nice question bro i need this too... Im always wrong sending bitcoin to another wallet how can i get it back to my wallet... can you give some advise Bro

Just few posts above I linked to a post addressing this. Have a look here. Really, it's the simplest guide you'd find on the topic. If your transactions get stuck often maybe try a more simple wallet that will take care of fees on its own.

It is quite difficult to be honest. The current reference client which majority of the network run now would reject any conflicting transaction that matches the inputs in their mempool. It can only be done if majority of the network has forgotten about your transaction or a pool is willing to accept your transaction thus including the transaction with the double spend and invalidating the other.