In sendmany there is a conf_target parameter with the comment "Confirmation target (in blocks)". Does that mean that Bitcoin Core implicitly calculates and sets a smart fee for a given block target?

If so what is the priorities if I:

  1. Set TX fee explicitly before
  2. Set conf_target == 1
  3. Set estimate_mode == UNSET

What will be the resulting fee rate on the transaction in each case?


Judging by the source code, smartfee will be used (conf_target)


/* User control of how to calculate fee uses the following parameter precedence:
   1. coin_control.m_feerate
   2. coin_control.m_confirm_target
   3. m_pay_tx_fee (user-set member variable of wallet)
   4. m_confirm_target (user-set member variable of wallet)
   The first parameter that is set is used.

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