estimaterawfee

Input(s) 2

Estimates the required fee per kilobyte for a transaction to be confirmed within a specified number of blocks.

How is this used?

You're trying to mail a package and want to know how much postage will get it delivered within a specific time frame. Similarly, in the Bitcoin network, when you send a transaction, you need to pay a fee to have it processed and confirmed by miners. The 'estimaterawfee' command is like asking the post office for the best postage rate to ensure your package (or transaction) arrives on time. This command estimates the optimal fee rate (per kilobyte) needed for your transaction to be confirmed within a desired number of blocks, based on current network conditions and past transaction data.

Request

method

estimaterawfee

conf_target

Required

threshold

Optional

Inputs(2)

one required input remaining...

conf_target (required) - Confirmation target in blocks (1 - 1008)
threshold The proportion of transactions in a given feerate range that must have been confirmed within conf_target in order to consider those feerates as high enough and proceed to check lower buckets.

Result