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Blockchain can't be sustainable since every transaction carries with it a history of all prior transactions.
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As a first approximation. It's been a while since I was following it closely, but there are wheels within wheels. Side chains are one example. There is something else i can't remember the term for, that effectively rolls up older uncontested segments of the blockchain that hashes or compresses it so that it's possible to unpack it again if the need should ever arise. Old blockchain is old.
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When we are all paid in cryptocurrency, how would salary be established considering the continual inflation of the unit of currency worth? We'd need a weekly pay cut to account for inflation of value.
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I reject your premise and substitute my own reality.
news.bitcoin.com:Bitcoin Solves Runaway Inflation by Undermining Trusted Third Parties
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Bitcoin Solves the Problem of Runaway Inflation, while Abolishing the Need for Centralized Trust
Bitcoin is a cryptocurrency that is automated by a consensus network algorithm. This algorithm, which was predetermined by creator Satoshi Nakamoto, has a set supply of bitcoins that will be distributed over the long term. This number is currently set to 21 million units of bitcoin.
This mathematically encoded number of bitcoin means that no central group or fiduciary cartel can control the currency. In other words, they cannot inflate or deflate a currency to the detriment of the population. In this sense, bitcoin is naturally deflationary or disinflationary. This denotes Bitcoin has utility in the sense that it neither inflates or deflates on a whim or caprice. No human actor can make changes to the protocol without achieving consensus.
In this regard, users of bitcoin have hedged themselves against control, against the small groups of trusted elites who can manage the flow or circulation of money across a population. When a currency like bitcoin is protected from artificial manipulation, it prevents people from using the creation and control of money to exploit and defraud others. It is the solution to the problem of runaway inflation and all forms of monetary control.
Some people think that bitcoin is naturally inflationary as a result of its algorithm. It is true the protocol specifies the minting of new coins via mining, but this is not the same as arbitrary inflation that causes ungodly increases in price of goods and services. The protocol was built to create coins in such a way that both heightens the value of bitcoin and does not allow for the market to be flooded.
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Requiring an ever expanding amount of computing resources for each transaction is also unsustainable and irresponsible considering the power requirements for each transaction.
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This is a fair complaint. I've head of people who run a mining rig in their closet to heat their apartment. (hey, 'free' Bitcoin)
The Bitcoin protocol caused the spontaneous self-assembly of the world's largest supercomputer cluster.
The way forward seems to be Proof of Stake:
"proof of work" vs "proof of stake"
Aside from Moore's law, eliminating proof of work reduces the thermal overhead.