BitUndo can help you to revert mistaken, or fraudulent payments.
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Contrary to popular belief, your mistakes might not be forever. Until a transaction appears in the blockchain (aka is confirmed)
no demonstrable work has been done, or needs to be undone in order to change it. Bitundo incentivizes miners to undo your mistake transaction,
by including a transaction that would conflict with it (aka having a conflicting input).
For a more technical understanding, see our developer docs for how it works.
A: Is a transaction that has been relayed to the network, but none of the miners has marked it to be included in the blockchain.
A: On average, a new block is generated every 10 minutes or so. You must submit an undo transaction before a block comes out, that seals the fate of your mistake (Sometimes this is the next block, sometimes its not for quite a few blocks)
A: The likelihood is approximately the same as the percentage of mines using bitundo. Right now, this is pretty low. However, if we are not able to undo your transaction, you pay absolutely nothing (and if using the secret option, it's not possible to see you even tried)