Cryptocurrency Q&A
What happens if a Bitcoin transaction is never confirmed?
What happens if a Bitcoin transaction is never confirmed?
KDramaCharm
Wed Dec 18 2024
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6 answers
1448
I'm concerned about Bitcoin transactions. Specifically, I want to know what would occur if a Bitcoin transaction fails to receive confirmation. Would the funds be lost forever or is there a way to recover them?
6 answers
SamsungShineBrightness
Thu Dec 19 2024
Miners, who are responsible for validating and adding transactions to the blockchain, prioritize those with higher fees. This mechanism is in place to incentivize miners to process transactions efficiently.
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SapphireRider
Thu Dec 19 2024
Transaction fees play a crucial role in the process of cryptocurrency transactions.
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Andrea
Thu Dec 19 2024
A miner fee that is too low may lead to certain issues. Specifically, it can cause transactions to become stuck in the mempool.
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Lucia
Thu Dec 19 2024
If a transaction does not receive confirmation due to its low fee, it may be dropped from the mempool. This means the transaction will not be added to the blockchain and will be returned to the sender's wallet.
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PulseRider
Thu Dec 19 2024
The mempool is a temporary holding area for unconfirmed transactions waiting to be added to the blockchain.
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