In the field of economics, it says that, there are characteristic to determine if an object has value.
First, scarcity, if X (E.g. Bitcoin) has LIMITED supply then MAYBE it has value. Same in the nature of gold, gas and other minerals, one of the reason why its very expensive and it's getting more expensive as the time pass because it has limited supply.
If you read it carefully I use the word "maybe" because scarcity dont mean value, It's a factor that affects the value. If X is scarce but it has no use or not needed, it wont matter.
my analogy for this is:
my dog does 2 poop a day. for the first 4 years thats a total of 2920. poops
for the next 4 years, my dog only does 1 poop a day. thats 1460 poops
then for the last 4 years of life. only 1 poop every 2 days. thats 730 poops
my dogs poop is scarce, only 5110 poops will be available... want some?.. its more scarce than bitcoin
.. reply. nope