Not really. Back then miners risked less work for less certain value. Nowadays miners risk more work, for more certain value. While it may seem like the past risked more, the risks/work hasn't really changed.
Yes, that's my point. Any extra gains in value that early adopters received was offset by the greater risk they took.
If anything risk/reward ratio is a better proposition than it was then - we have 15 years of solid operation, nation state adoption, ETFs and far less volatility yet the upside is still enormous.
You can buy "risky" bitcoin now at $50K, or you can wait until $50M when everyone and his dog is using it to store their wealth. The choice is yours.
