I just wanted to share the results of a little experiment I ran earlier today.
I was curious how accurate the fee calculator is in core. I was skeptical of it's accuracy but mostly I thought it would take longer than the projected times. I'll say now that it was much faster than the projected times.
tl;dr 4 transactions all were included in the very next block after being transmitted, despite having vastly different transaction fees, and despite core estimating much longer confirmation times.
Transaction 1:
Based on the transaction fee calculator in core, this transaction should confirm within 25 blocks. (I'm unsure whether that means it will have it's first confirmation within 25 blocks, or that it'll have a recommended number of confirmations within that time.)
This transaction was included in the very next block after I sent it, block 410942, mined by BW.
TX Fee/kb: .00005249 btc
Total Tx Fee: .00010478 btc or 4 cents us.
Transaction 2:
Expected in 16 Blocks, first confirmation in very next block
Transmitted 5:27 AM UTC
Tx Fee / kb: .00009340 btc
Total TX Fee: .00021397 btc or 9.6 cents us
Transaction 3:
Expected in 6 Blocks, first confirmation in very next block
TX Fee / KB = .00016628
Total TX Fee = .0001518182 btc (or 71 cents us for 8.631 kb of data)
Transaction 4
Expected in 2 blocks, first confirmation in very next block
TX Fee/kb = .00030032
Total TX Fee = .00267284 btc (or 1.20 us)
