I'm doing a course on Uniswap which I hope has helped me to understand gas limits and gas prices.
The original problem is that whilst explanations exist, they don't pin any use cases to each choice you can make : there's four options which I will explain with a use case and way to remember each. If any of this is factually wrong - let me know!
Teleport: [Gas Price: high, Gas Limit: low] = 'I want my transaction to either move instantly or fail instantly.'
UPS Next Day: [Gas Price: high, Gas Limit: high ] = 'I want my transaction to definitely arrive quickly and I don't care how much it costs.'
2nd Class Post: [Gas Price: low, Gas Limit: high] = 'I want my transaction to reach the destination but I don't mind if it takes a week.'
Letter with no stamp: [Gas Price: low, Gas Limit: low] = 'I'm just going to send the transaction, it might not make it, or if it does, it might take a while.'
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