merge-script f7ab3ba404 Merge bitcoin/bitcoin#30275: Fee Estimation: change estimatesmartfee default mode to economical ...

25bf86a225 [test]: ensure `estimatesmartfee` default mode is `economical` (ismaelsadeeq)
41a2545046 [fees]: change `estimatesmartfee` default mode to `economical` (ismaelsadeeq)

Pull request description:

  Fixes #30009

  This PR changes the `estimatesmartfee` default mode to `economical`.

  This was also suggested on IRC https://bitcoin-irc.chaincode.com/bitcoin-core-dev/2024-04-26#1021609

  - `conservative` mode: This is the `estimatesmartfee` RPC mode which considers a longer history of blocks. It potentially returns a higher fee rate and is more likely to be sufficient for the desired target, but it is not as responsive to short-term drops in the prevailing fee market.
  - `economical` mode: This is the `estimatesmartfee` RPC mode where estimates are potentially lower and more responsive to short-term drops in the prevailing fee market.

  Since users are likely to use the default mode, this change will reduce overestimation for many users. The conservative mode remains available for those who wish to opt-in.

  For an in-depth analysis of how significantly the `conservative` mode overestimates, see
  https://delvingbitcoin.org/t/bitcoind-policy-estimator-modes-analysis/964.

ACKs for top commit:
  instagibbs:
    reACK 25bf86a225
  glozow:
    ACK 25bf86a225
  willcl-ark:
    ACK 25bf86a225

Tree-SHA512: 78ebda667eb9c8f87dcc2f0e6c14968bd1de30358dc77a13611b186fb8427ad97d9f537bad6e32e0a1aa477ccd8c64fee4d41e19308ef3cb184ff1664e6ba8a6

2024-07-25 10:44:50 +01:00

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