Is unconfirmed transaction revirsable ?

[rhomelmabini]

Your transaction will be double-spent to you with a higher fee than your original transaction automatically. Unless you have to pay a specific amount of BTC to someone, it might be a better idea to select "Increase fee" and set it to 20 sat/byte which should be enough to get your transaction confirmed in the block.

I see thanks for the quick response. I think I'll have to wait for it, it was almost hours from now maybe it will be confirmed later on. I don't have some sats to "Increase fee" as there is no balance left on my purse as I've put it to the max. I thought it was as simple as canceling it, I think it will be higher than 20 sat/byte if I double-spent it.

[1715173769]

1715173769

[1715173769]

1715173769

[Rath_]

I don't have some sats to "Increase fee" as there is no balance left on my purse as I've put it to the max.

In such a case, Electrum should decrease the value of your transaction's output just as if you cancelled the transaction by double-spending it. If you had some coins your wallet, Electrum would add a new input to your transaction.

[rhomelmabini]

In such a case, Electrum should decrease the value of your transaction's output just as if you cancelled the transaction by double-spending it. If you had some coins your wallet, Electrum would add a new input to your transaction.

The thing is I have to withdraw from my Binance account to my wallet that currently has 0 balance but what a heck of a fee from Binance right now amounting to $13 for a single transaction, not a fan of that. My choice is to let it be mine on what blocks it should be mined.

I try to click the double spend and it shows it will be sent to my other wallet address but will it still be stuck again considering the fee will be 3 sat/byte or that will be just instant? Just bear with me with these lot of questions.

[Rath_]

I try to click the double spend and it shows it will be sent to my other wallet address but will it still be stuck again considering the fee will be 3 sat/byte or that will be just instant?

By the time you read my reply, the fees might have have changed significantly. Go to this website and look at the third graph. Hover your mouse over it and you will see some detailed information on the fees. Every value under 1 MB should get your transaction confirmed in the next block if the blocks are mined regularly.

Still, I don't understand why you would pay a higher fee to cancel the transaction. You can just increase the fee of your original transaction. You do not need any extra coins in your wallet as long as you are fine with the smaller amount of coins being sent to the other address.

[rhomelmabini]

Still, I don't understand why you would pay a higher fee to cancel the transaction. You can just increase the fee of your original transaction. You do not need any extra coins in your wallet as long as you are fine with the smaller amount of coins sent to the other address.

I get that "Increase fee" now and that graph was a lot more helpful. Appreciate it.