Too expensive. Nobody has been able to manufacture a first stage with cryogenic fuels that is inexpensive (or solid fuels, for that matter). LOX and kerosene have a couple of existence proofs, however -- The R7 series of rockets from the USSR and the Falcon series of rockets from the US. Perhaps the Saturn V would have been a relatively inexpensive rocket also if it hadn't been built on a crash timeline and we didn't lavish it with so much money at the time.
I don't think that hydrogen would do well as a propellant in the atmosphere (with no oxidizer), even if it were powered by a laser.
I don't think that hydrogen would do well as a propellant in the atmosphere (with no oxidizer), even if it were powered by a laser.
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