This is why the transparent ledger is a feature *for* institutions, not against them. When MicroStrategy buys 500k BTC, the whole chain sees it — and the market reprices before any of us can act. The Cantillon effect doesn't just survive in transparent crypto, it thrives. Monero breaks this loop. No rich list. No whale-watching bots. No front-running based on on-chain intelligence. Your 0.5 XMR and a mining pool's 500 XMR look identical to the network. The real question isn't self-custody (though yes, fight for that). It's whether the base layer itself encodes a power asymmetry. Transparent chains do. Private ones don't.