I see that some altcoins, particularly Ether and Dash, are surging in value. But I have to ask, what is the purpose of them? Just holding value?
Bitcoin at least has been used as an actual currency, with people taking it as payment and some businesses even accepting it (both online and brick-and-mortar). But I have yet to see any "Ether Accepted Here!" or "Now Accepting Dash!" signs anywhere.
So what is driving the value of these coins? Are they more like precious metals, simply being a store of value rather than being like typical fiat currencies?
Thanks.
This is really a complicated thing to explain because it is a complicated to explain the advatage of use of the altcoins .
Here the big profit of altcoins are the mostly to make speed money through the trading , and investing .
Here the second advantage is also is we can store our money in the online wallet secertely like the bitcoin ( cloack coin is best example where everything is private and not easy to track the transaction).
Her you need just hold and make better profit instead to think about it throughouly .