... and erodes the advantage of early adopters.
Hard to hold a large chunk of coin as early adopter and not cash out a large percentage and basically be retired.
After "cashing out" you've got a huge pile of -- wait -- fiat money? correct?
Not sure how that's be going to be a retirement though....
Let's be fair with them, they would be pretty well off, however, with the depreciation of fiats and appreciation of bitcoin we are approaching convergence pretty quick, and in the end we are on pretty much equal footing. An early adopter who cashed out 20K BTC at the bottom of $2(according to the days destroyed chart many of them did), is now being matched by a "sucker" who happened to buy 500 BTCs at the same bottom, not to say those who cashed out at below $1.