I first started looking seriously at Bitcoin alternatives when I heard about the possible hard fork. I didn't clearly know what a hard fork was, but it can't possibly be anything good. It's hard, it's sharp, and it's something that gets stuck into you before you are tossed in someone's mouth and crushed between rotting gums and decaying molars. And that's before you even hit the digestive track...
So I looked for safe havens, and found this whole world of crypto coins. Sparks were flying in the crypto world, and everybody had their favorite. Though everybody's favorites may have been different, they all pretty much agreed on one thing:
Litecoin was boring - and it was dying a slow death.
The thing was, it was dying very, very slowly. Almost imperceptibly. Other coins offered the exciting roller coaster rides, the pumps and the dumps, the chance at riches. But old Litecoin just rolled along at pretty much the same price, ever so slightly declining in value over the months.
While some people thought that was bad, I thought it looked pretty good. It reminded me of the US dollar, generally reliable and slowly but steadily losing value.
That made it look like a safe haven to me. And besides, it was one of the few cryptos I had actually heard of. And, unlike most crypto investors, I think money should be boring.
The more boring a currency, the better I can sleep at night.
So I bought in, rode the segwit excitement, but stayed at the party too long (story of my life).
But, you know, I still like Litecoin. Like I love my old shoes.
These crappy shoes, made by Merrell, started falling apart within a week of purchase. Within days, in fact. This seems to be a common thread with that brand. They last as long as you avoid wearing them.
But in addition to being crappy shoes, they are incredibly comfortable. My feet are afflicted by all manner painful pathologies, broken bones, bunions, heel spurs, pretty much a podiatrist's dream. So despite the shoes being ugly and falling apart, I just feel better when I wear them. They may make me look homeless, but I can walk in comfort. I can walk longer and farther, and I feel healthier.
And so it is with Litecoin. I know it is just a clone coin. I know it offers nothing innovative. But it has been around forever (at least in crypto years), people know it and use it, it doesn't excite. And these very mundane facts make it an attractive coin. It's boring - the way bankers and accountants use to be boring. Because we trust them with our money. I know that when I need to buy a new pair of shoes, my money will be there.
I sleep better at night knowing my money is being managed by the most boring person on earth.
And I sleep better knowing that my money is invested in the most boring coin in crypto.
After all the hotshot coins have come, made a big splash, and then disappeared - I have a pretty good feeling that my Litecoins will still be there. And in the crypto world, that's pretty rare.