So yes it can be done. Is it good for "Bitcoin"?
It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.
It seems these early adopters have had a pretty good understanding of where the future is going. I for one would be happy to see these kinds of people get incredibly, filthy rich, so they can invest in awesome new businesses and technologies. Now that would make a change away from the current status quo, where the financial system only benefits parasites and sociopaths.
IMO most Bitcoiners are the most sociopathic people there are.
It takes a *special* attitude to strive after a system where economic status is derived only by a unchangeable, unchallengeable, non-physical ledger.
Maybe it would change your mind if you didn't spend so much time in the speculation forum?
I refer to the Bitcoin early adopters, not the current get rick quick types. People like the the guy responding to this Reddit topic and there are many other examples.