Here is a short film show casing the space elevator via YouTube.
Unlike many films online this video highlights the friction between the tether and the lifter as it climbs its way towards the stars. I wonder if a climber speeding that fast (and causing that much friction) would wear out the tether in a year or two?
One interesting aspect of this short film was the asteroid as a counter weight. Although held up to some as a good idea, no earthly government would be comfortable with a rock that large near earth. Such an idea by itself would be enough to kill off the space elevator idea.
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