When it comes to on-chain privacy, I really feel a bit conflicted... On one hand, I want to expose as little of my asset trail as possible, but on the other hand I have to accept the basic premise that "on-chain = traceable." To put it plainly, ordinary users shouldn’t expect any kind of absolute anonymity—at most, you can raise the cost of linking: don’t reuse addresses carelessly, don’t keep taking the same transaction path, and apply layering where it’s needed. Compliance isn’t some kind of mystery either; when it really comes down to the part where you make deposits and withdrawals with an exchange, no matter how much you try to route around it, you still have to be able to match the explanation. So my current expectation is: leave as few obvious labels as possible on-chain, keep good records off-chain, and don’t dig a hole for yourself.

Recently, I’ve been looking at how blockchain games with inflation plus studio “overproduction” get dragged into a frenzy—once the coin price starts spiraling, the first things to be “publicly punished” are those piles of naked addresses... Anyway, I’d rather deal with a bit more trouble: multi-sig and a cold wallet, so I can sleep soundly.