Question about Bitcoins

Hey guys,

I pretty much understand the basics of Bitcoins and how they work. My question is: what happens when the amount of Bitcoins reach their limit? There won't be any new Bitcoins able to be generated to be given out as a reward to the miners, so what motivation will miners have to keep mining? How are transactions going to be verified from that point onward?

I personally don't believe that this event will ever occur as Bitcoins are designed to reach their limit in 2120 or something and I think some Government will probably have it either shut down or controlled by then, but still I am curious what the plan is for this scenario? I am probably just missing something very basic here or misunderstanding something...

Greetings from Europe

well i would think that either

1. mining will be made so hard that they CANT reach the limit or

2. Inflation!

After the limit has been reached, miners will work off of transaction fees.  I'm not quite sure of the specifics so it's probably a good idea to check out the transaction fee page on the bitcoin wiki.