Well once we hit that milestone, miners won't have much to gain so probably we'll see a big bom on the transaction fee and that will probably make people leave bitcoin for other cryptocurrencies. But hey we still have a long way to go (probably +20 years) and I sure know that bitcoin is unpredicatable and it has always amazed me so let's hope for the best.
Miners are the ones that get the fees. The assumption is, especially now with larger blocks, is that if the system actually lasts til this point, it should be a given that adoption scaled with it. The fees at this point should surpass the proportionate share of block rewards. We will also assume it should be much, much cheaper to mine in general, as the mining technology should be hyper efficient by this point as well.
Cryptos are now a feature, so I don't expect us to be using bitcoin like a Fiat into the far future. Something bigger and better will certainly come along, that encompasses the best of bitcoin and the best of fiat. What I see for long term BTC is; the trust in the protocol grows to a level where people equate bitcoin with 'digital gold'. When I say good, I am trying to evoke the trust that gold has garnered over the ages. For the trader, the liquidity of bitcoin is vastly superior to gold, I can see the 20k plus valuations actually making sense at that point. Bitcoin may even become a collector's item, given the scarcity.
). That is if Bitcoin will still exist on that point, though.
. Miners will get paid by transactions fees.
