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Is It Possible to Use RBF to Undo an Unconfirmed Transaction?
310 sats \ 5 comments \ @spiderman 16h bitcoin_beginners
So, I was watching this from @JoeNakamoto (skip to 16:25 for the relevant part).
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He mentioned it is possible to RBF an unconfirmed on-chain transaction to undo it? Not to defraud anyone, but out of curiosity, how exactly to do that? Is it possible with any self-custodial wallet (I use the Blockstream Green mobile app and Trezor suite).
Also, relevant to the scenario
  • If a transaction is unconfirmed, then are the input UTXOs considered spent by the Blockchain? Can I input those same UTXOs in another transaction before confirmation?
  • If I want to prevent a confirmation for some reason, then I have to replace them with a lower fee? Will it eject the unconfirmed transaction from mempool (hence cancelled), enabling me to use the UTXOs for another? Or, will the unconfirmed transaction stay in the mempool forever?
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123 sats \ 0 replies \ @nichro 15h
I believe you can RBF (resend the utxo with a higher fee) to a different address: your own. That is in effect cancelling it. You just pay more fees to do it of course.
Transactions that aren't confirmed (in a mined block) aren't considered spent, but while they are pending and chilling in the nodes' mempool, nodes will not accept another transaction for that same UTXO unless:
  • the old one expires due to very low fee and everytually getting purged out the mempool by most nodes, or
  • it's a valid RBF transaction for that same UTXO
I can't check different wallets right now, but from memory, RBF in most wallet apps is presented as a way to speed up a transaction and they may not allow inputting a different address in the UI to keep it intuitive and simple. But it is technically possible to do an RBF transaction with different output address.
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21 sats \ 0 replies \ @DarthCoin 15h
BE AWARE! DO NOT DO RBF ON A OPENING/CLOSING LN CHANNEL TX ! That will end up in zombie channel and you will have to use chantools and is complicated if the peer is not cooperative.
Better use CPFP as it nicely explained here:
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0 sats \ 0 replies \ @d680ecaa8e 14h
On Coinbase there is undo before confirmation zero is established but you have small time to undo.
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0 sats \ 0 replies \ @SwapMarket 14h
you cannot replace with a lower fee, must be at least 1 sat bump. a tx will be purged from mempool eventually if it pays below Minimum Fee.
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0 sats \ 0 replies \ @SwapMarket 14h
https://medium.com/@goryachev/bitcoin-node-security-case-study-e1ca00a378b5
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