Lately, there's been more talk about on-chain privacy. To be honest, I'm a bit allergic to the fairy tale of "completely anonymous and fully compliant." Don't have overly romantic expectations for ordinary users: everything you do on the chain is like walking around in a transparent raincoat—able to block some rain, but under the streetlights, your outline is still visible. If you really hit the compliance boundary, the platform/access point basically won't pretend not to see; it's more like "if it passes, it passes; if it doesn't, don't force it."

By the way, I checked the funding rates again, and they’re extreme. The group is arguing whether to reverse or keep squeezing the bubble... I’ll just use it as a thermometer: the higher the heat, the more it reminds me not to treat privacy as a get-out-of-jail-free card.

I don’t need to be understood, but I hope I don’t get led by emotions: leave traces where needed, don’t touch the gray areas, expose as little as possible, and for the rest... accept its imperfection. That’s all for now.