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Author Topic: Is it Possible If I Cancel Bitcoin Transaction After 1 Confirmation?  (Read 115 times)
Bila0 (OP)
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September 27, 2021, 05:58:53 PM
Merited by hugeblack (2)
 #1

Hi experts I have problem and also issue. Issue is that if I carry transaction of BTC from my wallet to other wallet. after some time I may feel that pool is very low and I want to cancel my transaction and it may lead to dealt of my transaction in about 3 to 4 hours. Can I cancel my Bitcoin transaction after 1 Confirmation.
I will be pleased to get answer.
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hosseinimr93
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September 27, 2021, 08:00:29 PM
Last edit: September 27, 2021, 08:17:10 PM by hosseinimr93
Merited by pooya87 (2), ABCbits (2), hugeblack (2), Pmalek (1)
 #2

Short answer:
No, that's not possible.

Long answer:
Bitcoin transactions cannot be cancelled even if they are unconfirmed let alone they have received a confirmation.  
For making a transaction invalid, you need to double-spend its input(s), so the new transaction replaces the original one.  There is no way to cancel a transaction that has been broadcast.

If a transaction is unconfirmed and has been flagged as RBF, you can replace it with a new one spending same input(s).
If a transaction is unconfirmed and hasn't been flagged as RBF, it's possible to replace it with a new one, but that's very very unlikely.  
If a transaction is confirmed, for double-spending the input(s), you need to perform a 51% attack. It's almost impossible, because it needs a significant amount of total hashrate and is very very expensive.


after some time I may feel that pool is very low and I want to cancel my transaction and it may lead to dealt of my transaction in about 3 to 4 hours.
What do you mean by pool? Do you mean mempool?
If so, take note that once a transaction is confirmed, that's no longer in the mempool at all. It has been included in a block and will receive next confirmations at the rate of 1 per 10 minutes on average.  

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nc50lc
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September 28, 2021, 02:46:22 AM
 #3

after some time I may feel that pool is very low and I want to cancel my transaction and it may lead to dealt of my transaction in about 3 to 4 hours. -snip-
Sorry but this doesn't make sense, please elaborate.
After getting 1 confirmation, it's now included in the blockchain and the subsequent confirmation speed is just based on how fast the next blocks are being mined.
It's not just based from the mining pool that mined the block where your transaction is included, any new blocks mined will add 1 confirmation to your confirmed transaction.

If you can somehow cancel it (extremely hard) and resend, you wont gain any "speed-up" at all.

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lelahenderson
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October 04, 2021, 08:32:59 AM
 #4

Once there has been a confirmation, you won’t be able to reverse them or even cancel them. For canceling it, you would be required to use a Replace by Fee (RBF) protocol to replace your original transaction with a new one with the help of a higher transaction fee.
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