# Economic Value Simply Means Scarcity

Private property or personal property happens only because of the
scarcity of resources. Because of the scarcity, you can't use the
resources while others are using it or having it.

So why does water have economic value? Because it's scarce.
Why does land have economic value? Because it's scarce.
Why does gold have economic value? Because it's scarce.
Why does bitcoin have economic value? Because it's scarce.

It's no more and no less.