<p>I have found this article <a href="https://bitcointechtalk.com/an-introduction-to-bitcoin-core-fee-estimation-27920880ad0" rel="nofollow noreferrer">https://bitcointechtalk.com/an-introduction-to-bitcoin-core-fee-estimation-27920880ad0</a> which give you a pretty good summary of this bitcoin function.</p>
<p>Notice that <code>estimatesmartfee</code> return is based on the data of what happened in the past in the blockchain, it is not trying to predict what will happen in the future but what should happen based on what happened before, maybe you will find a better algorithm if you think that there will be something new that will disturb the market.</p>
<p>From the article:</p>
<blockquote>
<p>A more sophisticated algorithm may attempt to be more forward-looking.
However, the more complex the algorithm, the more difficult it becomes
to describe its operation and results, and the more difficult it is to
argue that the algorithm is safe against manipulation.</p>
</blockquote>

CC BY-SA 4.0
2020-07-08T19:24:24.103Z
2020-07-08T19:24:24.103Z
Saxtheowl
<p>Method of <code>estimatesmartfee</code> is very simple and easy to use and understand. But I want to know how accurate this function really is? It would be great help if you can provide a link to article or Research paper.</p>

<bitcoin-core><bitcoind><transaction-fees>
How accurate is 'estimatesmartfee' in bitcoin-core?
Haseeb Saeed
# How accurate is 'estimatesmartfee' in bitcoin-core?

(Asked by: username_0 on 2020-06-16)

Method of `estimatesmartfee` is very simple and easy to use and understand. But I want to know how accurate this function really is? It would be great help if you can provide a link to article or Research paper.

**Tags:** bitcoin-core, bitcoind, transaction-fees


---

## 1 answers

### Answer by username_1 on 2020-07-08. Score: 1 | Accepted answer

I have found this article <https://bitcointechtalk.com/an-introduction-to-bitcoin-core-fee-estimation-27920880ad0> which give you a pretty good summary of this bitcoin function.

Notice that `estimatesmartfee` return is based on the data of what happened in the past in the blockchain, it is not trying to predict what will happen in the future but what should happen based on what happened before, maybe you will find a better algorithm if you think that there will be something new that will disturb the market.

From the article:

> A more sophisticated algorithm may attempt to be more forward-looking.
> However, the more complex the algorithm, the more difficult it becomes
> to describe its operation and results, and the more difficult it is to
> argue that the algorithm is safe against manipulation.


---

