A Bitcoin transaction is irreversible.

[Dr.Bitcoin_Strange]

Honestly, I believe Bitcoin is more on being merchant friendly because it solves the problem of merchant where customers reverse their payment after the seller send the item.  Thus it somehow raises some problem for customers if the merchant does fraud, delivering fake items or not delivering the goods at all.  So irreversible transaction has their own weakness too, IMHO.

That's absolutely correct; someone did that to me but was on Whatsapp. I wanted to buy an Apple phone from the lady, but I chose to pay her with crypto, and she asked me to pay with Tron (TRX), so after sending her payment and waiting for my phone to get delivered, she blocked me, and the contact she gave me was not reachable until today. The disadvantage that Blockchain transaction was that the Tron payment I sent to her could not be reversed. But even if it were a bank transaction, some banks would not do anything to help you get your money unless you go through a crime investigation agency, and that will require you to pay some fees too.

Yes, and i don't even mean double spending. A transaction can be rejected by miners if the sender used a very low transaction fee which would give that transaction a low priority in the blockchain, if after sometime and especially if the mempool is congested, miners still do not consider the transaction worth confirming because of the very low fee paid, the transaction would be rejected.

Well, maybe you have, but I have not experienced anything like that. After sending Bitcoin for your friend, perhaps the network confirmation is all complete in your wallet (it's showing transaction completed from your end), but the challenge here is that the receiver did not receive it until after 24 hours when it got back into your wallet. What you are saying here is that the transaction was abandoned due to a low fee, but what I mean is that the transaction was well completed. The bank transaction was successful, but the receiver did not get the money. It seems that while some people really understand these thread, others are also finding it difficult to do so. Is it too strange?

[Darker45]

But this has its own advantages and disadvantages, just like a bank's reversibility feature. In other words, this is actually a double-edged sword. With a Bitcoin transaction, there is only a very small room for error. If you failed to double-check the address you will be sending Bitcoin to, for example, and you sent it to the wrong address, you might not get your Bitcoin back. In a bank transaction, you may have it reversed. The same goes to fraudulent transactions. The way Bitcoin transactions are designed, it is somewhat unforgiving to mistakes.

[tbct_mt2]

But this has its own advantages and disadvantages, just like a bank's reversibility feature. In other words, this is actually a double-edged sword. With a Bitcoin transaction, there is only a very small room for error. If you failed to double-check the address you will be sending Bitcoin to, for example, and you sent it to the wrong address, you might not get your Bitcoin back. In a bank transaction, you may have it reversed. The same goes to fraudulent transactions. The way Bitcoin transactions are designed, it is somewhat unforgiving to mistakes.

Because Bitcoin transaction is irreversible, when you sent it and it has confirmations, your coin gone forever. You can not reverse the blockchain to get your coin back, it is impossible.

To avoid mistake when sending, on online accounts, you can use WhiteList address feature. In your non-custodial wallet, you can label that address.

However, always double check on exchanges to make sure your WhiteListing is correct. Checking is about 1 minute but you will be safe and won't lose your coins by mistake.
In your wallet, if you labeled that address, when you click Pay, you will have another chance to check that address, again spend about 1 minute for double check.

Dust Attack, what it is, why it is dangerous and how to prevent falling to it. Make sure you understand Coin Control feature to use it effectively against Dust attacks too.

[adzino]

Some months back, I created this thread "Has Bitcoin transaction double charged You?" because of the incident that took place then, but lately, I have encountered different banks transaction issues.

I was making payments to a client for my goods, but after sending him the money on the 8th of March, he complained not to have received the money the whole of that day, so I had to pay up again, hoping to go and complain in the bank for the one he is yet to receive, but luckily the next day, being the 9th of March, the first money I sent to him got reversed to my account around 5:00 pm, and I tried sending the money to my company account because it was from my personal account that I conducted the first transaction.
I sent the money to my company account on March 9th after it was reversed, but I did not again receive the money in my company account (at a different bank) until March 14 before it was also reversed to my account (the account I sent from). This may not be a general problem with banks in most countries of the world, but these flaw with bank is not encountered in Bitcoin transactions.

{To use this as an example,} Bitcoin transactions fixed such flaw in banks. A Bitcoin transaction is irreversible. When you send Bitcoin for payment to someone, it doesn't reverse; as long as there is enough fee to settle the transaction and confirmation is ongoing in the blockchain, the transaction cannot be reversed. At least Bitcoin transactions don't have these flaw that are demonstrated by the banks.

 Bank APP Receipt
-snip-

I guess it was an issue with your bank account and the funds over there. You should have contacted your bank as soon as the reversal took place to know more about the issue. But yeah, banks are sometimes slow and unreliable. It is not as instant as they claim. Sometimes there are delays of more than one hour, or transaction takes place during the next working day. Bitcoin transactions, on the other hand, do have their advantages, like you have mentioned. They're irreversible, which can be both a pro and a con, depending on the situation (more pro than con to be honest).If you make transactions with bitcoin, there is no need to worry about reversals and delays after certain number of confirmations has been reached. But on the other hand, if you accidentally send Bitcoin to the wrong address, or your coins get stolen by hackers, there's no way to get it back.