Lately, I've been really obsessed with monitoring on-chain transactions, the more I look, the more I think that "sandwich/arbitrage" stuff—what you think is a quick profit—is actually just paying others' fees most of the time... As a newbie, I get impulsive and want to follow along, but then I calm down and think: the real signal isn't how big a transaction is, but that when you place your order, the slippage suddenly feels very "understood," and the execution price always manages to just hit your most uncomfortable spot—that's probably not a coincidence.

By the way, in the community these days, there's been a lot of arguing about privacy coins, coin mixing, and regulatory boundaries—frankly, with different stances, no one can persuade anyone. My current mindset is pretty timid: don't expect to dance on the edge of a knife, being able to avoid getting cut once is progress, so I’ll slowly accumulate experience first.