As I understand, with the network congestion it's sometimes advisable to set a higher fee to process a transaction within a block or two. Is there some way to estimate the optimal fee through calls to bitcoind? I know there are some online services that do those estimations, but I'd rather not rely on such external factors.
The other answer is outdated.
estimatefee is deprecated.
You should use
Please use estimatesmartfee for more intelligent estimates. Estimates the approximate fee per kilobyte needed for a transaction to begin confirmation within nblocks blocks. Uses virtual transaction size of transaction as defined in BIP 141 (witness data is discounted).
Arguments: 1. nblocks (numeric, required)
bitcoin-cli estimatesmartfee 6
Have you tried using the
estimatefee RPC call? This will calculate the amount needed per kilobyte.
For example calling
bitcoin-cli estimatefee 2 would provide a fee per kb to try to get confirmed within 2 blocks.
2In fact, if you use any of the automatic send RPCs (
sendtoaddressetc), and don't configure a manual feerate (the
-paytxfeeoption), fee estimation will be used automatically. Dec 27, 2016 at 10:59
I am using https://bitcoinfees.net . They hare using Bitcoin Core's "estimatesmartfee" method. You can easily pick a transaction fee based on confirmation time.