. For every price increase, some of the early hoarders pull the ripcord, this distributes the coin in the fairest way possible.
Will we have to make impassioned pleas for these belevolent early hoarders to exchange some of their precious hoard with the common folk for "worthless" fiat currencies, or will they only take property such as real-estate? Those early hoarders sure are nice people. Without them, the Bitcoin economy couldn't function.
Or, is that the 1% in a fiat-based society?
They will not do this out of benevolence but out of self-interest. It will make financial sense to maintain some degree of diversification even as the bitcoin price rises to (for the sake of discussion) $100K. That means converting bitcoin gradually, as the price rises, to a range of other assets: commodity, stocks, bonds, fiat, property, etc. They will not keep the vast majority of their wealth in one asset (bitcoin) because that would be too many eggs in one basket.
Everything about bitcoin is based on the realistic assumption that people tend to act in their economic self interest. Everything.