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I know users can set up a gas limit as not to spend too much. I am also aware of the "gas block limit" (how much gas can be consumed in a single ETH block). However, the user can set the gas price as high as he wants, even such that a relatively simple transaction can cost a fortune.

As far as I understand it so far, you can spend as much ETH as you want. (The miner will collect it)

Is that correct or am I missing something?

Sky
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There is no limit on the gas price, yes. You can pay any amount you want, anything above the base fee will get paid to the miner as a tip. So you can spend any amount of ETH really, gas limit may be finite, but the gas price in case of legacy txs or maxPriorityFeePerGas in type 2 txs have no upper limit.

Meet
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  • How is this solved in practice? Aren't there any limits on packet size, or are all packet counters and integers encoded in a way that are infinitely expandable? – pipe Mar 14 '22 at 03:00
  • @pipe what is the problem that you ask of? And what do you mean packet size? Do you mean max integer value that can be processed by ethereum? So anything greater than X while possible to be expended won't be possible because of limitation of implementation? – Meet Mar 14 '22 at 03:03
  • Yes, the question is about the theoretical maximum, so in order for your answer (no limit) to be correct there must be a way to encode an amount that can exceed any fixed integer size. – pipe Mar 14 '22 at 03:08