Trying to reverse a bitcoin transaction

[Keith700 1885]

Reversing a simple bitcoin transaction may become possible before the first network confirmation.
If the btc you sent have 0 confirmations, you have 1% of being able to reverse this transaction.
Make sure your transaction is not confirmed before taking action.
Transactions need a minimum of three confirmations before they are fully confirmed. If you see that your transaction has one or two confirmations, you will have no choice.
If there are zero confirmations, you can continue and cancel the transaction. There are two ways to do this:
Replace by Fee (RBF Protocol).
Highest rate double expense transaction.

[Khan 1414]

7 hours ago, Nimrata7 said:

AS it can not be possible and that's the Crypto advantage and also disadvantage because in Crypto transaction no one can trace you and it should be not reversible.

I agree with you in this solution that BTC transaction can not be reversed or roll back because it is not traceable and can not be tracked.

[muneebzafar889 28]

I don't think so that if you send btc or any other crypto and then you reverse it because this transaction not detectable and not reversable when you send money via blockchain then check proper address

[cryptotalker 611]

I know it's like this in the ethereum. transactions that have not yet been approved, can be retrieved by resending. In many payment systems already, the transaction takes place after receiving at least 3 confirmation.

[Khan 1414]

8 hours ago, Nimrata7 said:

May be soon in the future there is a possibility of the Crypto currency transactions tracing and also it can be traced that from which location the transaction happen.

May be that happen and Bitcoin will be legal in the future but that's only possible if the trust issue has been solved and the Price is stable.

[Saqib Ali Sadiq 438]

it is impossible to reverse the bitcoin transaction, because it not in the control of any one, if it send to wrong address then forget your money, that is the big disadvantage of the bitcoin because transaction does not reversed once it done.

[Wrath 149]

Good to know that you can reverse bitcoin that have not been confirm, well mostly when you make mistake and want to undo it the action has already happen, you to find a way to reverse bitcoin that have already been confirm that will be helpful.

[Keith700 1885]

On 10/27/2019 at 3:15 AM, dianamushi said:

Man i have been following your content and you've benvery useful to us me specifixcally, I appreciate that just wanted to give my credits. 

But i have a question, in my wallets i do not see an option to change fee after i've send my bitcoins. Is there special tools for chasing the fee or special wallets?

Alao I did not understand when you said; "Highest rate double expense transaction.

With respect to "The highest rate of double-expense transactions", it is a direct payment to the miners to include it and recent blocks to confirm and so you can get your transaction out of the 0 confirmations if you have given the miners little commission, It's basically giving the miner more commission to speed up your transaction.
There is no special tool since exchanges or wallets put a fixed or variable rate, that depends on them but in Blockchain you can see how much has been given to the miner in the respective transaction, take a look for various wallets and use one that you be convenient, it is practical.

[MyThoughts 514]

1 minute ago, cryptc said:

Once the transaction is confirmed that is all and the coin is gone on an irreversible journey. Maybe with time, it would be reversible but as of today it is not reversible.

What are you talking about?
This is similar to the fact that a person pays money online for a product and personally tries to return the money.
No money. They're gone.
You made your decision and committed the action.

[Ajlovez7 594]

It's really not Possible in reality if bitcoin confirmation has started and reached 1confirmation , as to reverse the bitcoin Transactions there is need to change events in blockchain and it really requires very high  computing power, which is not possible by simple computers but maybe in future it can be done by Quantam computers, but still I remind u very high computing power is required, it's just a theory by which we can reverse blockchain Transaction !!!

[MyThoughts 514]

5 minutes ago, Jarrem said:

I think the irreversible properties of the crypto make them traceless to the public and yes that properties have bad side also but you can minimize that by using carefulness.

Of course, you must be careful when using any finances. This should be the main rule for everyone who cares about their financial situation. )

[Naga 1250]

24 minutes ago, cryptc said:

Once the transaction is confirmed that is all and the coin is gone on an irreversible journey. Maybe with time, it would be reversible but as of today it is not reversible.

Well it certainly cant be reversed at all not even with time because thats  the only big advantage bitcoin has not like banks that can reverse transactions on apps like cashapp.

[Keith700 1885]

1 hour ago, dianamushi said:

So in bockchain.com wallet this feature is available (the double spend fee) is that right?, so if i have already send my coins and no confirmation yet, i can boost the tx, or should i do it during the tx.

No, let's say that for example you would have to add to a miner directly that amount necessary for your transaction to be processed directly, in the Blockchain wallet I think that option is not, since that double expense option is directly with the miners, There are some blogs where they specify that better, but if possible, always be.

18 minutes ago, Shabbir81 said:

I think when any transaction done then no way to revers this transaction before doing transaction check carefully adress and other required things in doing transaction only this way you can do right transaction. 

There are many people who are wrong when placing a wallet, it is something silly I think but it usually happens.
It has happened to me, but in my beginnings, although it is not the big deal, if you are driving the mouse yourself you should not be wrong either in the shipping fee or the wallet or anything like that, it is a matter of principle.

[Keith700 1885]

10 minutes ago, CryingCrypt said:

I think it can be, but it is bitcoin all of the transactions here are recorded and also sometimes it is fix, you cannot reversed the use of crypto currency because of all of the information included there are legitimate and reliable because it is a transaction of money.

Super understood, I think that Bitcoin being the first crypto trial could make a better invention as an option to recover the coins, but perhaps more options can put chaos or a lot of enmity, although as it happened, it has to be perfect.
Before making a transaction you have to think about it, and for it to be done, always aware of the value of your cryptocurrencies.

[Nicecrypto 543]

5 hours ago, cryptc said:

Yes, that is just the truth, the coin has just gone, gone forever and can not be refunded. If we want to do any transaction, we need to check and recheck the amount we are sending and also the address code we are sending it to before sending.

I believe that is just the only advice and option. We really need to do that double checking before we click on any form of sending transactions cos one we do, no retuning from that. Made that mistake myself once even though the amount wasn't much, but felt bad.

[Great Commander 659]

Nah. You can't refund it. Once it is on ledgers of blockchain system, your money is and its transaction it irrevocable. That is how blockchain made to secure its maximum security. 

[Great Commander 659]

Still depends on platform you are trying to exchange with. Though reversing bitcoin transactions is not possible for now. As time passes, we still see some improvements and hopes bitcoins with now be refundable if there's no confirmation. 

[bestprofi 372]

I also knew about this possibility but I never tried to see if it works. As a matter of principle you must initiate an identical transaction with a double fee.

[khan22 3478]

There are so many peoples which reverse their payments. it is a trick that i don,t know but i saw that one person send some BTC to my friend and that just will show and after that all the payment is reversed and he want cash because he send us BTC. So there are so many scammers here so be aware from them.

[Nicecrypto 543]

26 minutes ago, Great Commander said:

Still depends on platform you are trying to exchange with. Though reversing bitcoin transactions is not possible for now. As time passes, we still see some improvements and hopes bitcoins with now be refundable if there's no confirmation. 

How do you mean, "if there's no confirmation" once you click the send bottom the transactions are already sent to the blockchain and some after confirmation starts, by the way in some exchange/wallet you get a warning that this is an irreversible transaction you are about to do.

[Cryptominded 704]

On 11/3/2019 at 3:35 AM, cryptc said:

Once the transaction is confirmed that is all and the coin is gone on an irreversible journey. Maybe with time, it would be reversible but as of today it is not reversible.

So then what OP is saying is a fact,  that until a transaction is confirmed by the network, it can be reversed, II would want to verify that and if it is a fact, it will make my day because recently I helpless watch as my hard earned Bitcoin ended in the wallet of a stranger because of a malware I was later to discovery in my system. I would have just reversed the transaction before the confirmation went through.

[Cryptominded 704]

17 hours ago, Shabbir81 said:

Yes it cannot possible to return bitcoin and other cryptocurrency transaction and I think this is big disadvantage for using bitcoin or other cryptocurrency and I suggest blockchain and other exchanges to working reversed transaction 

That is obviously the other side of the coin and if there are indeed provisions to reverse a Bitcoin transaction at any point in time, it would also give rise to some of the issues people face using Paypal for instance.

[whymeidontknow 676]

I have never had the practice of canceling transactions, I think you need to be incredibly lucky to have 0 transactions and you can cancel it

[Nicecrypto 543]

17 hours ago, Cryptominded said:

That is obviously the other side of the coin and if there are indeed provisions to reverse a Bitcoin transaction at any point in time, it would also give rise to some of the issues people face using Paypal for instance.

Even in banking Fiat transactions, does this process occur? that you are able to cancel a transaction like transfer that has been sent to another account? I think the only solution will be for the other party to send it back but in crypto I don't think this is visible for now. 

[Mathers 295]

On 10/20/2019 at 3:48 AM, Nimrata7 said:

AS it can not be possible and that's the Crypto advantage and also disadvantage because in Crypto transaction no one can trace you and it should be not reversible.

Bitcoin transactions are traceable, Bitcoin is not fully anonymous. It has a psuedoanonymous design meaning, It can be traced if you're not careful enough.