Transaction fees Will be the mining reward. High use of the bitcoin network Will be required to adequately pay the miners. On the other hand, You Will probably not live by that Time anymore, so You dont need to worry too much.
So the mining power thrown at bitcoin will be radically reduced at that point but it won't matter as 51% attacks would be useless since no new coins will be produced.
no,
never radically because coin mining deacrease slowly...and the market will regulate all the existing coins...
Thanks for the answers so far. what do you mean by regulate all the existing coins... , will there be certain transaction fees incurred for just holding bitcoin that miners will get to keep things moving along or will it purely be on transaction fees on when you transfer coins for whatever purpose?
I plan to pass some coins to my kids, so I know this will be something they will have to deal with in there lifetime.
You 'might' be jumping the gun a bit, Bitcoin won't be mined out for another 125 years! I don't know what life expectancy is now, but 125 seems optimistic!
A long long time before we get to that point, Bitcoin will either be globally used, or not be used at all. If it is the internet currency, then people will mine for transaction fees, and they cann be pretty big and worth mining for. If not, then people will turn off and the difficulty will fall greatly.
We will see at the next halving what happens, a more extreme version can be expected when the jump is from 1 to 0 per mined block.