By putting up buy walls for those who are cutting losses and exiting (helping them),even if bitcoin price goes 1$ we are the new wealthy elite.
What does it mean to become a new wealthy elite? Sooner or later this will happen beacause bitcoin has revolutionary real world purposes.
What kind of world we would be living? How new wealthy elite rules the world? What kind of world order and laws? And purposes?
until BTC is an equal competitor to prize of Gold/Oz on a pretty stable basis I dont see it ever being in competition with the worlds elite considering right now any one of the top 1% of worlds wealthiest people could buy every btc in existance and crash the market and not bat an eye to it
comparing bitcoin to an ounce of gold??
the amount of gold in circulation is about 174,000 tonnes or 6,137,676,000 ounces
so if you want a more fair comparison a bitcoin (with 13.662million in circ) makes 1 bitcoin equivelent to 449oz (based on a rarity scale)
so dont expect 1btc to be worth 449oz anytime soon (to be a fair comparison) but i have no idea why you think 1 bitcoin should be in correlation to 1oz.. there is just no statistic or reason to suggest a bitcoin should be compared to 1oz of gold.. it makes no sense, there is no logical reason for it.
as for saying anyone of the top 1% of the world wealthiest people could buy every BTC in existance and crash the market..
well that is a good thing.
initially to buy EVERY bitcoin, they would have to pay high prices, because as soon as these rich guys start buying. potential sellers will raise their prices as there is demand. and thus the very last btc ever to be bought by someone could fetch many many thousands of fiat..
and now average jo is fiat rich by finally giving in and selling their bitcoin to the rich for the high premium price.. the rich guys then tank the price when they sell..
guess what.. the new buyers will get cheaper coins thanks to the rich.
in short. if i sold my bitcoin for $10,000 because i chose to hang on as long as i could to my btc hoard untill they overed me a price i couldnt rfuse.. id be a multimillionaire.
id wait till the rich guys tank the price and then if it tanked to $1.. id buy up every btc i could get my hands on to know id have more BTC then i did before the rich guys done the pump and dump..
and so would other smart people, which would bring bitcoin back to stable levels again.
what you need to know is that bitcoin, no matter who owns it or who shouts out that it is bad or good, will be around for atleast 100 years, so no matter how many walls or pump and dumps are tried. each pump and dump will make someone on each side richer or poorer.. which in your case would be the top 1% richguys poorer due to buying coins off us lot at a nice premium.
Basically what you said about Gold is backing my point i was trying to make exactly