[dalke]

I think your sentence has too much of a tone of inevitability. "... will improve as an asset ..." should surely be "will improve if an asset ..." or perhaps "... in order for ...".

There's plenty of new markets which failed to take off, and died after a few years of use. Confederate dollars aren't quite the useful currency they once were, as an obvious example.

Otherwise it cuts too close to survivorship bias: is there a popular asset where the market has "low liquidity and crappy technology"?

[ForHackernews]

> is there a popular asset where the market has "low liquidity and crappy technology"?

Yes, real estate.

[dalke]

Point taken. Speaking of liquidity, water rights are likely another, at least in the southwest where the relevant laws date back to Spanish colonization.

[koliber]

You are right. I should have added "will continue to improve, unless they implode.".