I’m drinking tea and browsing on the chain at the same time, and the more I look, the more I feel that the words “privacy” and “compliance” are now like a rubber band: you think you’ve stretched it out, but it can be pulled back at any time. Ordinary users, to put it simply, shouldn’t expect absolute anonymity; it’s more about “not exposing yourself too thoroughly”—don’t reuse addresses everywhere, don’t tie your social accounts and wallets too tightly, and try to leave fewer traces when possible. But don’t get obsessed to the point of thinking that tools = a get-out-of-jail-free card.

Recently, with extreme funding rates, the group is again arguing whether to reverse or continue squeezing the bubble. I’m actually more concerned that: the more extreme the emotions, the easier it is for strange jumps and “washing” actions to appear on-chain. When something really goes wrong, you’ll still have to explain the ins and outs. My simple expectation is: privacy is about reducing the chance of being watched, not about taking the blame for regulation; compliance is a boundary line, not a talisman. That’s all for now, I’ll continue after the tea cools down.