After 2140 how will transactions be handled?

[jongameson]

Since there will be no more mining?     

[deepceleron]

There will still be mining. Transaction fees will replace the diminishing block rewards as incentive for miners to do their work.

https://en.bitcoin.it/wiki/Myths#After_21_million_coins_are_mined.2C_no_one_will_generate_new_blocks

[kaito]

Good question.
The usual answer is transaction fees but I don't think it'll be that simple.
One thing I consider certain. Fees high enough to satisfy the current amount of miners will be unacceptable for the users.

Fortunately, 2140 is inconceivably far away and I don't worry about it one bit.

[Xenoph0bia]

Since there will be no more mining?     

I highly doubt Bitcoin can still exist after 120 years. Look back 120 years and see how the world changed !

[deepceleron]

Good question.
The usual answer is transaction fees but I don't think it'll be that simple.
One thing I consider certain. Fees high enough to satisfy the current amount of miners will be unacceptable for the users.

Fortunately, 2140 is inconceivably far away and I don't worry about it one bit.

They will have had four years of mining .00000001 BTC block rewards before the reward becomes zero; the reward amount halves every year four years so there will not be a drastic and dire change at a particular date.

[rammy2k2]

Since there will be no more mining?     

I highly doubt Bitcoin can still exist after 120 years. Look back 120 years and see how the world changed !

this might be true

[kaito]

They will have had four years of mining .00000001 BTC block rewards before the reward becomes zero; the reward amount halves every year so there will not be a drastic and dire change at a particular date.

Heh, even if a bitcoin becomes 1M$ by then I doubt people will get used to mining 1 cent per block.
Anyways it's nothing to worry about. There's enough time to think of a proper solution.

[vendetahome]

They will have had four years of mining .00000001 BTC block rewards before the reward becomes zero; the reward amount halves every year so there will not be a drastic and dire change at a particular date.

Heh, even if a bitcoin becomes 1M$ by then I doubt people will get used to mining 1 cent per block.
Anyways it's nothing to worry about. There's enough time to think of a proper solution.

As explained above, transaction fees will pay the mining

[kaito]

As explained above, transaction fees will pay the mining

*sigh*
Ok. I'll take it slower for you.

The current block reward is 25k$ @ 1k$/BTC. Currently, there are 100-600 transactions in a block.
That means, if we were to sustain the current network with transaction fees alone, each user would have to pay a transaction fee of 25k$/0.6k = 41.67$ per transaction. Would you pay that?
10$ sounds to me like a barely acceptable transaction fee. At 10$ per transaction, 10$*600 = 6k$ block reward. Would you mine for that at the current difficulty? Not everybody has free electricity.

[wileybooks]

If, high volatality prevails for a long time, bitcoins kill itself slowly.

Bitcoin must correct itself regularly and high volatality must be controlled.