Recently, people keep asking me whether "on-chain privacy" can really serve as an invisibility cloak... To be honest, ordinary users shouldn't have too high expectations: just because your wallet address doesn't have a name attached doesn't mean others can't find you; especially once you've interacted with exchanges, fiat channels, or KYC processes, that little "anonymity" on the chain becomes quite fragile. The line of compliance isn't black and white either; it's more like a spring: loosen it during normal times, tighten it when there's trouble, and ultimately, those who suffer are often the ones who think they're just passing through.

And recently, there's been a lot of talk about putting RWA, US bond yields, and on-chain yield products together... I just want to laugh when I see it, but I can't. On-chain "returns" are often not really returns; you're helping the system absorb volatility and risk. The closer compliance gets to traditional finance, the more detailed the information disclosure and tracking will be; it's impossible to want both the security of traditional finance and the sense of invisibility Web3 provides.

Anyway, my current approach is: don't expect on-chain to hide me too deeply, try to avoid tying my real-life identity too tightly to my wallet, separate them when possible, so that one day, an on-chain path won't connect all of me. That's it for now, I need to get back to work.