Windows 7 Activation

When you have 30 days to activate Windows 7, what happens at the end of those 30 days? I know that you lose some of the functions, but what does that actually mean? Will I still be able to play games on the Steam software, and play game like Minecraft etc?

Any help will be greatly appreciated!

Added (1). EDIT - but will windows still actually work? And can I still play non-Microsoft games?

It will give you warning to activate and if you don't you will not receive important windows updates and microsoft software will stop working.

Your background will go black, you will get a message on boot that says "this version of windows may be conterfeit" and eventually, the computer will start shutting down every 30 minutes