-snip-
looks like using the
economical option for estimatesmartfee gives a much lower fee estimate. i guess that option may just look at the last few blocks like you mention. where the
conservative option looks at a longer block history. may take longer time period to adjust...im guessing
AFAIK, specifically, "
estimatesmartfee" is using the transactions in the node's mempool, the "
estimate mode" just changes the history range to consider.
The other fee estimation command, "
estimaterawfee" uses both mempool and blocks transactions in the estimation. [CMIIAW]