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Bitcoin transaction timeout

bitcoin transaction timeout

could be terminal. You have now paid twice, losing BTC, even though the first transaction "expired". In addition to Mark.'s answer, since Bitcoin Core.12 there actually is an expiration in the mempool, which evicts unconfirmed transactions after N hours, where N is set by -mempoolexpiry, and defaults to 72 hours. In my view, people are using the block size limit for something it was never meant to do to influence how people use the bitcoin blockchain, forcing some users off the blockchain, he said. Disclaimer: I have never used Bitcoin, I just read about. I agree to the site's privacy policy and terms of use. Since a single coin can't be spent more than once, only one of the transactions will ever confirm. One email a day for 7 days, short and educational, guaranteed. This is not a reliable feature, as wallets (and really, anyone) can rebroadcast the transaction, but helps keeping the mempool fresh.

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These blocks are used to record all transactions made on the bitcoin network, and have a maximum size of 1 megabyte (MB meaning they can record just seven transactions per second at most. The only way I know to defend against the original transaction ever completing is to spend those bitcoins a second time (e.g., in a transfer to yourself at a different wallet). . The problem was flagged up last August by one of the main developers of bitcoin over the last five years, Gavin Andresen, who told. Bitcoin has failed because the community has failed, Hearn said. . This is insane, and could lead to losses.

However this protection starts to wear off after 1-2 days, where the site will be able to spend it again. Transaction expiration is a common myth/misconception. Bitcoin transaction is created, it never automatically expires. In theory, a transaction could be created, get stuck at 0 confirmations for some years, and then all of a sudden confirm.

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