pull down to refresh

Why does estimatesmartfee give me vastly different results than Trezor Suite?
It says if I want my tx included in the next 6 blocks, I should pay 21153 sats / vB (!)
$ bitcoin-cli estimatesmartfee 6
{
  "feerate": 0.00021135,
  "blocks": 6
}
vs. more reasonable 21 sat/vB
(I think they also use virtual bytes. If not, the difference should only by a factor of 4, not 3 orders of magnitude)
Is it because I did a new clean setup of my node and thus it hasn't seen much transaction data to determine a good fee? So this will improve over time?
Or are there other reasons why the values are so different? (3 orders of magnitude)
Which values do your nodes give you for the next 6 blocks?
Funny. I was diving into this recently as well. Though for slightly different reasons.
estimatesmartfee returns in kilobytes. You need to divide the result by 1000 for it to make sense.
From the manual:
Estimates the approximate fee per kilobyte needed for a transaction to begin confirmation within conf_target blocks if possible and return the number of blocks for which the estimate is valid.
Trezor Suite uses that exact same method for guestimating fee prices.
reply
Oh, wow, thanks, you are right! Missed it mentioning kilobyte..
Long term mystery solved. Just set up new monitoring for my node and encountered this issue again. Except this time, I can ask people on SN :)
What were your reasons?
reply
Complaints that fee estimation in Trezor Suite are not that accurate.
Wanted to compare what is offered natively in Bitcoin Core vs Trezor Suite. And the answer is that it's 1 to 1.
You can confirm it on this endpoint: https://btc1.trezor.io/api/v2/estimatefee/6
6 = conf_target
reply
Ah, haha, nice! Are you working for Trezor? Or just a pleb wanting to verify things themselves?
reply
The former.
reply