A business or potential ETF claims they 'have it'... no transparency on chain.
We really need 100% transparency in the spirit of real fairness. Laymen will be required to be transparent but the too-big-to-fail corporations are flashing Legacy wallets to seemingly prove that they have "real" Bitcoin and when Bitcoin price tumbles they will be acting similar to vultures. They can sense death but they can't find any carcass.
Imagine a situation where a 'privacy-chain' is adopted by etfs and governments. It could be a nightmare. Like I wrote in my post it's extremely unlikely that wall street and government would volunteer transparency. So everything would be 'hidden'. Then government and wall street get together, fund research, hire cryptographers to exploit the stealth cryptography... to find an inflation bug for themselves. If there's even a small chance of this happening I think it could potentially cause concern. Bitcoin more transparent.
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