Research paper on Altcoin Value Formation

[hazenyc]

https://www.researchgate.net/profile/Adam_Hayes2/publication/269708450_What_Factors_Give_Cryptocurrencies_Their_Value_An_Empirical_Analysis/links/54945fd20cf29b94481e8bb3.pdf?origin=publication_detail

[Q7]

What gives an altcoin or any other crypto a value for that reason is mainly driven by the level of acceptance of the community. If I agree to pay you in altcoin "A", it's mainly because I believe that is the value attach to the coin. Or if you look it the other way round that is the "agreed" amount between both parties, whereby I'm willing to pay for in fiat in exchange for an equivalent amount in that crypto.