a very useful correction here: https://nitter.net/mononautical/status/1725813952377127375
bitcoind does rely on the mempool for fee estimation.
the estimatesmartfee algorithm works by tracking how long transactions in different "fee buckets" wait in the mempool before getting confirmed.
which means it needs to see a representative sample in the mempool.
openoms
npub14t…shy62
2023-11-18 11:05:58
in reply to nevent1q…jnp0
Author Public Key
npub14tq8m9ggnnn2muytj9tdg0q6f26ef3snpd7ukyhvrxgq33vpnghs8shy62Published at
2023-11-18 11:05:58Event JSON
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"created_at": 1700305558,
"kind": 1,
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"content": "a very useful correction here: https://nitter.net/mononautical/status/1725813952377127375\n\nbitcoind does rely on the mempool for fee estimation.\n\nthe estimatesmartfee algorithm works by tracking how long transactions in different \"fee buckets\" wait in the mempool before getting confirmed.\n\nwhich means it needs to see a representative sample in the mempool.",
"sig": "368deaeb45f9c0c3b502c0f26d18f9583f8c0779ddd5e85ab3f97feeb0c0f8bd18f5b9acfd6211a3a676c83d403dbc8369f5e2d9b05d72073d71a5f2f38f6da6"
}