Prices are not determined by utility, but by the demand pressure over scarce resources. This is why the “Bitcoin doesn’t have an intrinsic value” or “gold doesn’t generate any productive output” are not valid theses to me. Don’t get me started about FIAT and something you may not be aware of: monetary inflation (which is currently of around a 6%) 

(Disclaimer: this is not financial advice by any means, but an economic observation)

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Alt-coins are currently an speculative asset not driven by fundamentals. I am not saying speculation is bad, I think it is actually good as it offers liquidity and volatility to the market. But my take is that long-term prices are driven by scarcity and fundamentals, the same way that stocks.

Do you really believe it is always because scarcity? How do you price crypto then, where almost any token or altcoin has unlimited emission and inflation? How do you price stocks, when a company print more and dilute the value but prices doesn't correlate?