When sending Bitcoin, we may make a mistake and want to cancel the transaction. From my research, there are only two ways to reverse an unconfirmed transaction:
- Replace by Fee (RBF);
- Double spend using a higher fee;
Both methods require wallets that support these features.
My question for stackers is whether there is any way to cancel a transaction beyond these two methods.
During this research, I had the idea of creating a Bitcoin anti-theft service. The idea was to create a service that monitors the mempool and, when it detects an unsolicited transaction from a specific address, the service would try to cancel the transaction and notify the user that their Bitcoins were being stolen. Does anyone know if such a service already exists? Or is it a stupid idea?