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The NanoTech Fabric on Video
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Imagine being to fabricate at home anything you can fathom, be it a carbon nanotube or a television. That vision may become a reality in the not too distant future, thanks to nanotechnology. This video explores that possibility.
YouTube Video of the NanoTech Fabric
That's it, you can create bulky, experimental, inefficient compilers in a lab, and design this "microwave" model on computer. Then you painstakingly assemble the nice version with the primitive version. However, once you have done that, you can use the nicer version to build more of them. Once you've made one, you can make two, which can make four, which can make eight, which can make sixteen, which can make 32, 64, 128, ...
As to the reliablitliy, the tools in this video (like the gears that carry individual buidling blocks, etc.) are nothing but perfect carbon crystal structures (ie: diamond), with little tips that contain bonding sites for the appropriate molecular building block. Each part is simple, and very strong. I think wear and tear would almost be a non-issue. Consider transistors: they change state millions of times per second, and a CPU still has an estimated lifespan of about 20 years.
As to the economy, it would be a drastic shift. The world would be nothing like we know it today. I can't relly predict what would happen. There would still be an economy, since you can't fit a house or a car in a microwave sized matter compiler. However, jobs would be more limited, since all production work would cease. I recommend reading Neal Stephenson's "The Diamond Age" - absolutely fantastic book set about 100 years from now, in a world which has had this technology from a few decades. Very, very interesting...
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