Is it possible to reject a bitcoin payment?

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The protocol doesn't include a way to reject transactions, for a variety of reasons (the protocol doesn't know which output is real and which is change; blocks can't be changed after being mined; etc) but it is possible to do something similar.

Accept payment, then return it

Pick one of the funding addresses at random, then send the coins back to that address.

Accept payment, then destroy it

Send the coins to an address that doesn't have a private key associated with it, like 1BitcoinEaterAddressDontSendf59kuE.

Implementations

To my knowledge, no client implements an easy way to do either of these things. The best way would be use coin control to select the offending output, then make a transaction that returned/destroyed...

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Find answers to recurring questions and myths about Bitcoin.

Table of contents

General

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010...

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Find answers to recurring questions and myths about Bitcoin.

Table of contents

General

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Bitcoin is the first implementation of a concept called crypto-currency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a...

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Discussion for blog: "Receiving Bitcoin payments with Merchant tool" | Localbitcoins

mika.localbitcoins

Thread to discuss and comment about the the https://localbitcoins.com/blog/Merchant-Invoicing/

Nesbit

>love brush there are no such objects....uncle Sam and BP stole them all and dipped them in tar,at the behest of "old Keith"

BeBot

Few questions about this api. What happen if : - Custommer send bitcoin to a closed invoice (who have already received or not bitcoin) - Customer send more or less than the invoice ask. - Someone send bitcoin to a deleted invoice. Thanks.

dinbits

The invoices are timed.

mika.localbitcoins

Closed invoice can receive bitcoins and change it's status for example from "partially paid" to "paid in late." Even deleted invoices can receive bitcoins. It is not possible to reject bitcoin payment. For customer to get their bitcoins back they should open...

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Due to the official adoption of Bitcoin in Japan as a means of payment, the thousands merchants will accept the virtual currency this year. But what the actual facts are? Whether you can easily pay for goods and services in Japan using Bitcoin? This helped us to understand BitKan officials. BitKan marketing director Ruby Chen conducted a three-day experiment, which showed how in reality it was possible to use Bitcoin.

Trip To Japan

While visiting Tokyo, Chen decided to film a video of her experience using bitcoin in the Japanese city.

The first establishment they ventured upon was the Hackers Bar in Roppongi, Tokyo where patrons can pay for food and drinks with bitcoin. In the video Chen purchases some beverages and dinner, then pay the bill in Bitcoin in a few minutes.

The next day Chen visited Bitcoin.com’s headquarters to discuss Bitcoin adoption with CEO Roger Ver. According to Ver, the using of Bitcoin is a bit difficult, but it's...

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Is it possible to cancel a Bitcoin transaction ...

... which was not yet broadcasted?

Yes, obviously it is possible. I'd propose you choose this method in your Bitcoin app by showing the user a confirmation screen for some seconds with information about the transaction and some buttons saying cancel and confirm. @nahtnam proposed a 60 minute delay which is too much, considering you may loose internet access or want the transaction to appear in the block chain as soon as possible.

... which was already broadcasted?

No, very unlikely. To cancel such a transaction, you'd need to create a block yourself which moves the inputs of the original transaction to one of your own addresses. (Effectively invalidating the original transaction.) However, creating a block costs several thousand dollars as of now and finding a block is not guaranteed.

Another possibility would be to broadcast another transaction taking the same inputs as the original one and...

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Bitcoin, one of the latest digital currency processors is definitely not an alien term anymore, particularly, to people who participate in online transactions. This decentralized digital currency created by Satoshi Nakamoto is not a traditional payment processor though.

A bit on Bitcoin

Bitcoin operates on a peer-to-peer technology and doesn"t have any centralized authority. The transaction management process and money issuing are taken care of by the entire network, collectively. You need to download open source software to use this currency. The software has been released under the MIT license. It has been confirmed that no more than 21 million coins will be released on a whole and it may take time till 2140 to complete the entire process. A Bitcoin is referred as BTC.

Bitcoin is not backed up by any financial institutions or banks. However, the merchants who accept Bitcoins form its backbone. These are useful, mainly because these are scarce. The total...

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Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

If you are new to Bitcoin, check out We Use Coins and Bitcoin.org. You can also explore the Bitcoin Wiki:

How to buy bitcoins worldwide
Buying Reddit Gold with bitcoin

Will I earn money by mining bitcoin?

Security guide for beginners - (WIP)

Community guidelines

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person...
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Bitcoin is secure money for the internet. You can pay without handing out sensitive financial information, and you don't need an account.

Get a wallet

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First you'll need a bitcoin wallet – an app that lets you receive, hold, and spend bitcoin.

It is important that you use a true bitcoin wallet app that automatically calculates sufficient miner fees. These fees help to ensure timely confirmation for your transaction on the Bitcoin network.

We recommend the open source BitPay bitcoin wallet app. It's a great option for paying BitPay invoices because it dynamically calculates sufficient miner fees. It also supports major advances in bitcoin security and ease of use.

To learn more about bitcoin wallets, check out our Bitcoin Wallet Comparison, where we keep an updated list of options.


Buy some bitcoin

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Once you've set up your wallet app, you'll need to buy some bitcoin.

Bitcoin exchanges are...

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The Bitcoin POS system is based on the VeriFone Vx510 or Vx570 (pictured here) model of point-of-sale bankcard machines.

The Casascius Bitcoin POS system is a desktop retail point-of-sale acceptance system for Bitcoin "in a box". The system is based on a VeriFone Vx510 or Vx570 payment terminal, and allows merchants to easily accept Bitcoin payments from customers. It can optionally allow merchants to dispense (sell) Bitcoins.

The POS system features an Ethernet network connection, a 128x64 pixel backlit monochrome display, a receipt printer, and a 24-key keypad, all in a compact terminal. The Vx570 terminal also includes a USB port, to which a QR barcode scanner can be attached.

The POS system acts as a client for a central server run by Somebody, Inc. It does not maintain a Bitcoin block chain, but rather, sends SSL-encrypted queries to servers belonging to Somebody, Inc. in order to retrieve rate quotes and perform transactions. Consequently, it requires a...

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What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominenttriple entry bookkeeping system in existence.



Who created Bitcoin?

Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown...

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These Terms and Conditions together with your registration and any other documents provided to you in the Software or written Contract create legally binding agreement in between you and BitcoinPay (hereinafter Agreement). This Agreement contains rights and obligations of the parties, reservations, liabilities and other terms of Service. Please read the terms of this Agreement carefully before agreeing. This Agreement also emphasizes certain risks associated with the use of the Service.

This Agreement is provided and concluded in English language. You agree that any use of the Service by you shall constitute your acceptance of this Agreement.

Legal Disclaimer

This Agreement contains our entire agreement on the subject matter hereof. No statement of any party made after conclusion shall be interpreted contrary to the provisions of this Agreement.

In the event that any provision of this Agreement is or becomes...

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The latest versions of our wallet now use a dynamic fee structure (which you can read about here) to determine appropriate fees for your transactions, so some of the information in this post no longer applies.

If you have a pending transaction that is taking an abnormally long time to confirm, it may be due to network congestion. To find out more about how network congestion can affect your transaction, check out this article in our Support Center.

This is a Blockchain Quick Bit, where we cover the basics of a topic, or product, to help you understand it better. This Quick Bit is intended to help you learn about bitcoin transaction fees. Bitcoin transaction fees are one of the many benefits for consumers and merchants to utilize bitcoin, and is an attractive aspect of the digital currency. Currently bitcoin transaction fees can average to around .04 cents USD (or 0.0001 BTC) per transaction.

Bitcoin transactions are in place as an incentive to miners when...

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There are two types of fees in a Bitcoin purchase transaction.

The Bitcoin transaction fee - which is paid to the miners to include your transaction in a block and confirm it.The “intermediary” fee. This I think is the fee that concerns you most.

The “intermediary” fee is the fee that the provider of exchange related services are demanding to intermediate the sale of Bitcoin.

The intermediary can denominate his fees like: deposit fees, trading fees, withdrawal fees, etc… depending on their business model.

However, some Bitcoin sellers usually mask their fees as a higher Bitcoin price.

Example 1:

You know a miner who has Bitcoins and wants fiat. Once you and him agree on the price he wants for his Bitcoins you can do the transaction without any intermediary. You give him fiat currency for Bitcoin. There is no “intermediary” fee, just the Bitcoin transaction fee.

Example 2:

You found a Bitcoin seller (an entity whose business model is...

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Bitcoin, is a principally different electronic currency created in 2009 by Satoshi Nakamoto.

The term bitcoin is applied to a software (wallet), a network or a coin, which is used in the network. The name of the coin is usually abbreviated to BTC. The software of the wallet is distributed with an open source code so that anyone can check the principles of its operating. The bitcoin is a peer-to-peer network , which is formed by a software of the wallet.

Bitcoin has a number of features, that fundamentally distinguish it from other electronic (and not only) currencies:

1. Decentralization.

It means there is no united currency issuing and controlling centre, which could influence its rate,amount of coins in the network, and also block accounts or transactions. The network is built on p2p principle of equitable node-participants. Only you can manage your money and nobody can freeze your account, cancel payment or forbid someone to send or receive...

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1) Who created Bitcoin?

Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.

Satoshi's anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The Bitcoin protocol and software are published openly and any developer around the world can review the code or make their own modified version of the Bitcoin software. Just like current developers, Satoshi's influence was limited to the changes...

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Ok so this is something that many of you have been requesting for quite some time now and we want you to know that we have been listening! We are happy to announce that we are now accepting bitcoin!

Having trouble placing an order with your current card? Well, as stated above, we have heard the overwhelming requests for bitcoin, and we got the message. RUI-Products now allows purchases to be made by spending bitcoins right from your wallet!

Don't have a bitcoin wallet yet?

No worries, it's extremely easy to set up. We have done a good bit of research and we prefer CoinBase (https://www.coinbase.com ) since they have simplified the process and added a ton of features to simplify accessing your bitcoins. They've even introduced a Visa card that allows you to spend your bitcoins anywhere Visa is accepted!

For those new to the process it is thoroughly explained here: https://www.coinbase.com/buy-bitcoin

Some of the benefits of bitcoin are that it is...

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Find answers to recurring questions and myths about Bitcoin.

Table of contents

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Who created Bitcoin?

Bitcoin is the first implementation of a concept called "crypto-currency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project...

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There are quite a few different aspects of the Bitcoin ecosystem novice users may not be aware of. In some cases, users can come across a bitcoin transaction which is rejected by a particular node. This is usually a direct result of a transaction being pruned from the node’s database. Although this does not mean anything negative is happening, it can be confusing for some people.

Nodes Can Reject Transactions

Coming across this particular error message can be quite confusing for novice Bitcoin users. On paper, there is no valid reason as to why a network node would reject a particular Bitcoin transaction. There is no reason to think users can do anything different, but send their transfer the same way they always do. After all, the worst that can happen is how it takes a bit longer for the transfer to confirm.

However, it is possible a particular node will prune said transaction for some unknown reason. This is mostly an error that comes up when users rely on...

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It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.

When the attackers’ “ransomware” sprang into action, it held victims hostage by encrypting their data and demanding they send payments in bitcoins to regain access to their computers. Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.

Here’s a brief look at bitcoin:

How bitcoins work

Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who “mine” them by lending computing power to verify other users’ transactions. They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S. dollars and other...

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