can you reverse or cancel a bitcoin transaction?

[odeskpawan]

The very first step in cancelling the bitcoin transaction is to check whether or not it has been confirmed. If the transaction has a conversation, you can’t cancel the transaction as confirmed transactions are irreversible and permanent.
However, if the number of transactions is zero, you can cancel it. There are two different methods on how to cancel your bitcoin transactions.

• RBF (Replace by Fee)
  Double Spending by Setting a Higher Fee

Some wallets support the RBF protocol that allows you to replace the original transaction with a new one with a higher transaction fee. This’d effectively undo the operation.
However, if you want to use this feature, you'd need to make the original transaction replaceable. 
If you cannot use RBF, you may still be able to cancel your Bitcoin transaction by doubling your expenses with higher fees. To do this, make a new transaction equal to the amount of the original transaction and send it to yourself. Make sure the transaction fees are significantly higher than you originally paid.
You may need to use another portfolio or specialized software to double the transaction costs and distribute them over the network. If all goes well, the miners will pick up the new transaction, and your Bitcoin will return to your wallet. Most miners and portfolios, however, have guarantees against double spending, so it is still very likely that this method does not work.         

[Indamuck]

The only time someone is able to get funds back from a hacker is if they find out a transaction was sent right after it happened and they try to out compete that tx with a really high fee to incentivize the miners

[jonhn772]

bitcoin transaction that we have done will not be canceled, this is the system that I think is very good from bitcoin after we do bitcoin transaction then we just wait for the results of the transaction

Exactly you are right mate that if we make any transactions with Bitcoin then it’s impossible to cancel it. But I've heard from my friend that if transaction is not confirmed then there have some way but I dont know how to do it.

[carlisle1]

bitcoin transaction that we have done will not be canceled, this is the system that I think is very good from bitcoin after we do bitcoin transaction then we just wait for the results of the transaction

Exactly you are right mate that if we make any transactions with Bitcoin then it’s impossible to cancel it. But I've heard from my friend that if transaction is not confirmed then there have some way but I dont know how to do it.

Yup as long as rhe transaction is not successful it can be,but if done then nothing we can do and it was explained few post above us

The only time someone is able to get funds back from a hacker is if they find out a transaction was sent right after it happened and they try to out compete that tx with a really high fee to incentivize the miners

Is it really possible?well atleast there are still chance to recover when hack though its very isolated cases and will only happen once in a blue moon

[Bessta]

No, that is not possible for sure. You have to be really careful with the clicks you do, especially when you are trying to trade something and convert it in real cash. One of the mistakes that I've heard is sending bitcoin to an eth wallet. If you do this, your funds will get lost since the address is not appropriate. No man can benefit from that move.

[gabmen]

bitcoin transaction that we have done will not be canceled, this is the system that I think is very good from bitcoin after we do bitcoin transaction then we just wait for the results of the transaction

Exactly you are right mate that if we make any transactions with Bitcoin then it’s impossible to cancel it. But I've heard from my friend that if transaction is not confirmed then there have some way but I dont know how to do it.

Yup as long as rhe transaction is not successful it can be,but if done then nothing we can do and it was explained few post above us

The only time someone is able to get funds back from a hacker is if they find out a transaction was sent right after it happened and they try to out compete that tx with a really high fee to incentivize the miners

Is it really possible?well atleast there are still chance to recover when hack though its very isolated cases and will only happen once in a blue moon

Sometimes you wouldn't have the option to outcompete the transactions because there won't be any option for you to do that and transaction fees are automatic. I don' think there's really any solid run-around for making such mistakes so you just have to be very careful.

[olamidey]

It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.

You know there was a time I actually have it a thought. It's on the blockchain for all to see and once the transaction goes, there are lots of things involved. For example the miners, once you send a transaction, the miners nodes pick it up and it's lined to its receiver. If you want to cancelled , does that mean the miners would refund you? So many things to think about all made me to believe it's impossible. So whichever errors you made in your transaction, don't make in next one.

[Hardtolife]

It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.

No, because in my opinion although using the double shopping method to cancel it is not possible because it will definitely be processed quickly one by one and cannot be canceled. and of course when we cancel it requires a process but the bitcoin transaction continues.
the solution is we must be careful before doing something not random.

[znation]

Notify each user that it cannot be reversed, so you have to be aware, once confirmed, will not return and do not regret completion. If the transaction has been confirmed, you cannot refund work.

[BossMacko]

In my experience once you transact there is no way for you to cancel that is why there is a notice before you proceed that you check the Bitcoin address many times to make sure it is correct before proceeding.

[dupee419]

I do think that some sites will give you another message if you are sure about the transaction, some sites will give you 5 seconds before the transaction goes in if there will be a mistake that you need to correct but I don't think that there has been a site that can cancel your Bitcoin transaction, it is not allowed since the function would likely be abused if given a chance, this is disabled so that there would lesser scams that would happen.

[tegarp90]

It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.

That's not able to do, and also this is also the deficiency about bitcoin transaction.
The verification of doing transaction is still lack and hope it will improve in the future

[toleomasd]

Surprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.

[darnekleo]

Surprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.

Yes, you are lucky! With such abilities you could try to become an expert on the taklimakan platform

[toleomasd]

Surprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.

Yes, you are lucky! With such abilities you could try to become an expert on the taklimakan platform

have not heard of such a site. What is their specific work?

[darnekleo]

Surprisingly, it turned out that my instinct did not let me down, and I managed to reset the BSV in time before the Binance their delisting.

Yes, you are lucky! With such abilities you could try to become an expert on the taklimakan platform

have not heard of such a site. What is their specific work?

Taklimakan is a social network. It was created to help users more easily obtain information and analysis of the crypto market and improve their understanding of how the blockchain works. But also if you are ready and competent to share your knowledge, the platform supports such activity

[teejayrichard2]

I haven't seen or heard of bitcoin transaction being cancelled or reversed before. Infact to me this is impossible thus we have to be careful with all transactions we make because once initiated, it cannot be cancelled or reversed.

[lyancy005]

It has been said sometimes that a Bitcoin transaction can be cancelled or reversed using for example double-spend.
Is it still possible? If Yes, how? If No, Why?
Especially when you sell services and goods and accept Bitcoin payment, you are worried about this.
So it should be a good idea to discuss this topic.

I still haven't heard or seen anything like that could happen in the blockchain, but I think it has been done with the EOS blockchain if I were not mistaken.

[Hamphser]

One of the things that caught my attention about irreversible transaction which do Bitcoin have thats why im hooked into crypto due to this feature that no fiat/banking system can give out.
Before you do jump into Bitcoin/Crypto World you would surely know this stuff on early phase. Bitcoin tx wont really be reversible thats why making transactions or sending out
funds into other wallet,make it sure that you have entered the right one.

[kyucryp]

so far, for transactions using bitcoin cannot be canceled. transactions using bitcoin are very fast, accurate and real-time. so, if the transaction process has been carried out, we cannot cancel if an error has occurred. so, we must be careful when doing transactions.