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Is the Bitcoin transaction reversible?

  • Thread starter Thread starter Potuse
  • Start date Start date

Potuse

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I read through an article online that a bitcoin transaction could be reversed and that is a big fallacy because a transaction that is done in Bitcoin can never be reversed . This is why you need to check the destination wallet address critically before implementing the transaction.
 
Bitcoin transaction is not reversible. You need to check the recipient address very well before you send any coin. My knowledge so far have taught me that Bitcoin can never be reversible as I have heard from many individuals from different countries.
 
Not just bitcoin but all crypto transactions are irreversible. Unless, the receiver, willingly returns your bitcoin or crypto in general, once you transfer bitcoin it will be gone forever. This is one of the biggest shortcomings of Bitcoin and cryptocurrency in general.
 
Potuse said:
I read through an article online that a bitcoin transaction could be reversed and that is a big fallacy because a transaction that is done in Bitcoin can never be reversed . This is why you need to check the destination wallet address critically before implementing the transaction.
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The article which you read is a hoax. There's nothing like being able to have any bitcoin transaction to be reversed. Once it's sent, it's gone. You can't cancel it even when the network confirmations isn't complete. Once the process starts, there's no going back.
 
No, they are not reversible, unless you pay so little on your fee transaction that the transaction is kicked out of the mempool and goes back to your wallet within a week, this could be fixed with the replace by fee feature.
 
Riberet19 said:
No, they are not reversible, unless you pay so little on your fee transaction that the transaction is kicked out of the mempool and goes back to your wallet within a week, this could be fixed with the replace by fee feature.
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It happens to me several time the invoice of LN BTC is paid however there is no credit on some websites so I provide transaction details and they credit the missing deposit after checking from their side.
 
Monster Masterpiece said:
It happens to me several time the invoice of LN BTC is paid however there is no credit on some websites so I provide transaction details and they credit the missing deposit after checking from their side.
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The lightning network still has a lot of bugs, it's a network that's still too technically complicated, and it still has a lot of room for improvement.
 
Riberet19 said:
The lightning network still has a lot of bugs, it's a network that's still too technically complicated, and it still has a lot of room for improvement.
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You could have better network and may be expanded to other networks like a lightning network for USDT or a lightning network for a BSC 20 network no body knows. It could be expanded to others networks for example.
 
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