can you reverse or cancel a bitcoin transaction?

[gabmen]

Once you click on the send button, your transaction can't not be reversed or cancelled. I wish this aspect of Bitcoin could be upgrade to help people cancel their transaction request if the transactions has not yet been confirmed by the blockchain network. Such upgrade is going to transform the whole nature of the bitcoin ecosystem.

Well probably for those transactions that are still in queue yes, but for already completed transactions, i highly doubt that it'll change. Users should be cautious in pressing that send button for now to avoid losing coins since there's no way it can be revoked once completed.

[1714660121]

1714660121

[maldini]

can't, and so far I've never seen anyone who can do it.
Therefore, it is expected to be careful when dealing with bitcoin transactions, make sure everything is correct and in consciousness
If there is a mistake then it will be complicated and make you regret

[Eclipse2021]

Sorry mate but as far as I know there are no ways to reverse a transaction once it has been procesed into blockchain...I did a mistake like this once and since then when I make crypto payments I make sure that every input is corect before sending it...

[MarioV]

There are some rigid and non-modifiable certainties for bitcoins: one of these is the immutability of a transaction. Once done, you can't go back. Luckily.
This is precisely one of the greatest values attributed to bitcoin.

[pushups44]

No, bitcoin cannot be reversed or canceled. However, there will probably be services to reverse or cancel bitcoin transactions in the future as a layer 2 solution. Bitcoin's irreversibility is what makes it both valuable and frightening to the average person.

[hyunee]

In hitbtc, you can. Once you ordered to send the money and confirmed it you can always cancel it but the fee will be reduced. So if your money is. 05 btc and the fee is .0015 btc then when you cancel it, the funds you can get is only. 0485 btc.

[earnfreecoins]

In hitbtc, you can. Once you ordered to send the money and confirmed it you can always cancel it but the fee will be reduced. So if your money is. 05 btc and the fee is .0015 btc then when you cancel it, the funds you can get is only. 0485 btc.

It can be done by the exchanges only as they will do by their own pocket but in blockchain bitcoin transaction cannot be cancelled once it is confirmed by the blockchain. Until the transaction is not confirmed or included in the block it will get cancelled for example if you have set very low fee then your transaction will get cancelled automatically after some time as no miner will included it in their block.

[dunfida]

In hitbtc, you can. Once you ordered to send the money and confirmed it you can always cancel it but the fee will be reduced. So if your money is. 05 btc and the fee is .0015 btc then when you cancel it, the funds you can get is only. 0485 btc.

It can be done by the exchanges only as they will do by their own pocket but in blockchain bitcoin transaction cannot be cancelled once it is confirmed by the blockchain. Until the transaction is not confirmed or included in the block it will get cancelled for example if you have set very low fee then your transaction will get cancelled automatically after some time as no miner will included it in their block.

Well said but i would like to clarify that theres no cancelation of your transaction if you do set out very low fee.Its still broadcasted on the network but
due to low fee it would have the tendency or chances that it will got stuck or wont confirm at all yet it wont be pushed by miners but on the current condition
theres no problem with fee though yet they are on the lowest possible amount.

[earnfreecoins]

In hitbtc, you can. Once you ordered to send the money and confirmed it you can always cancel it but the fee will be reduced. So if your money is. 05 btc and the fee is .0015 btc then when you cancel it, the funds you can get is only. 0485 btc.

It can be done by the exchanges only as they will do by their own pocket but in blockchain bitcoin transaction cannot be cancelled once it is confirmed by the blockchain. Until the transaction is not confirmed or included in the block it will get cancelled for example if you have set very low fee then your transaction will get cancelled automatically after some time as no miner will included it in their block.

Well said but i would like to clarify that theres no cancelation of your transaction if you do set out very low fee.Its still broadcasted on the network but
due to low fee it would have the tendency or chances that it will got stuck or wont confirm at all yet it wont be pushed by miners but on the current condition
theres no problem with fee though yet they are on the lowest possible amount.

Ya you are right that right now the fees is low but in past when the fees was high that time if you have set very low fee then it can cancelled automatically after some time/days. As it is not broadcasted by any miner. I have experienced this as once in that time i had set low fee and was waited for more then a week for my transaction to get cancelled and then i got my coins back in my wallet.

[CaVO32]

In hitbtc, you can. Once you ordered to send the money and confirmed it you can always cancel it but the fee will be reduced. So if your money is. 05 btc and the fee is .0015 btc then when you cancel it, the funds you can get is only. 0485 btc.

It can be done by the exchanges only as they will do by their own pocket but in blockchain bitcoin transaction cannot be cancelled once it is confirmed by the blockchain. Until the transaction is not confirmed or included in the block it will get cancelled for example if you have set very low fee then your transaction will get cancelled automatically after some time as no miner will included it in their block.

Well said but i would like to clarify that theres no cancelation of your transaction if you do set out very low fee.Its still broadcasted on the network but
due to low fee it would have the tendency or chances that it will got stuck or wont confirm at all yet it wont be pushed by miners but on the current condition
theres no problem with fee though yet they are on the lowest possible amount.

Ya you are right that right now the fees is low but in past when the fees was high that time if you have set very low fee then it can cancelled automatically after some time/days. As it is not broadcasted by any miner. I have experienced this as once in that time i had set low fee and was waited for more then a week for my transaction to get cancelled and then i got my coins back in my wallet.

the situation is still good because the money goes back to your wallet. what if the money comes from the exchange and you are sending your money to another exchange. and it got unconfirmed for a week. what is the next step for this? does anybody here experienced such situation from an exchange? and how did you approach that situation?

[Twinkledoe]

No, bitcoin cannot be reversed or canceled. However, there will probably be services to reverse or cancel bitcoin transactions in the future as a layer 2 solution. Bitcoin's irreversibility is what makes it both valuable and frightening to the average person.

I like what you said here. Frightening to the average person but it's true. If you are not a real crypto user and a crypto user told you about this thing, you will hesitate to use crypto because of this aspect. But once you get oriented with crypto, you should know how to double check, triple check your transactions before pressing the confirm button.

[Astvile]

I think once it is already sent or the transaction is already out,
There is nothing that we couldn't do with it but to wait till it is confirmed.
We couldn't reverse or cancel a Bitcoin transaction once it is made.

We cant reverse and cancel bitcoin transactoin but can force the transaction to be tag as double spent and make transactoin either canceled by the blockchain and refund from the sender,

[gesdan]

of course not, it can be reverse or cancel, because as we know that bitcoin is irrevesible transaction, when you submit transaction and listed on blockchain, you will never cancel it or reverse it automatically, the manual way is sending back manual from receiver address

[jademaxsuy]

There is no way to reverse bitcoin transaction but you can be able to see it how it was being done because it is recorded in a block chain technology. So, if you will going to have some adjustments to be made then you can do it by getting the copy of the transactions and then make another transactions to justify if it is the lack of funds being forwarded or if the other party should make a refund.

However, it is difficult to address a problem is the transaction done in a wrong address and that would be really a problem because we can't identify the owner of the address so that one can request to the receipient about it and to send it back.

[Ahiaba]

I don't think it is possible for one to cancel or reverse as the case maybe Bitcoin transaction before and after first comfirmation or after. And you have to careful of whoever promise you such services for there are scam site everywhere looking for who they will milk his or her money in the name of trying to helping you.

[shesheboy]

In hitbtc, you can. Once you ordered to send the money and confirmed it you can always cancel it but the fee will be reduced. So if your money is. 05 btc and the fee is .0015 btc then when you cancel it, the funds you can get is only. 0485 btc.

It can be done by the exchanges only as they will do by their own pocket but in blockchain bitcoin transaction cannot be cancelled once it is confirmed by the blockchain. Until the transaction is not confirmed or included in the block it will get cancelled for example if you have set very low fee then your transaction will get cancelled automatically after some time as no miner will included it in their block.

Well said but i would like to clarify that theres no cancelation of your transaction if you do set out very low fee.Its still broadcasted on the network but
due to low fee it would have the tendency or chances that it will got stuck or wont confirm at all yet it wont be pushed by miners but on the current condition
theres no problem with fee though yet they are on the lowest possible amount.

Ya you are right that right now the fees is low but in past when the fees was high that time if you have set very low fee then it can cancelled automatically after some time/days. As it is not broadcasted by any miner. I have experienced this as once in that time i had set low fee and was waited for more then a week for my transaction to get cancelled and then i got my coins back in my wallet.

the situation is still good because the money goes back to your wallet. what if the money comes from the exchange and you are sending your money to another exchange. and it got unconfirmed for a week. what is the next step for this? does anybody here experienced such situation from an exchange? and how did you approach that situation?

a several hours of waiting is not normal anymore , how much more if its over a day or two but in your case its been already a week and you dont recieve your funds  .  better if you can contact the support of the exhange that you are using of you can use some kind of accelerator service  online  . that is what i do if one of of my transactions have been stuck for a longer time  .  and if im not mistaken there is also a service or a wallet/exchange that allows you to put extra fees or to modify the fees of your previous transaction ( the unconfirmed one ) because you maybe putting a verry small fee in which miners ignore it  .

[Malsetid]

I don't think it is possible for one to cancel or reverse as the case maybe Bitcoin transaction before and after first comfirmation or after. And you have to careful of whoever promise you such services for there are scam site everywhere looking for who they will milk his or her money in the name of trying to helping you.

 Yeah sometimes it's a scammer or a phishing site that gets people but most of the time it's their own carelessness. We should understand that already that before we make the final send, we have to make sure we placed the correct information first. It's a one miss you die deal 😛

[lovesybitz]

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.

Once your bitcoin transaction has been send into blockchain explorer, it cannot be cancel anymore. But if you made a transaction in the exchange site platform without confirming it to your email or 2FA You can still cancel it as long as your not submitting a confirmation whether to your email or security code.

[Annalise24]

If you are sending the transaction from blockchain, immediately you click the send button , I do not think it's possible to reverse or cancel the transaction again .
This is because once the send button is clicked on, it sends signal for the coins to be mined.
And there's no way of getting messages across to miners not to mine that particular transaction .

[xvids]

There is nothing we could do once we already sent it even if it is not yet confirmed .
That is why we need to make sure that every time that we would make a transaction the address is correct we should always double check it before we send our money.
I don't really think that there would be something like reverse or cancel bitcoin transaction even in the future .