On-chain privacy, I think ordinary people should lower their expectations first: everything you do on a public chain can basically be pieced together, at most it’s “harder to understand,” not “invisible.” Compliance isn’t a one-size-fits-all; many times, platforms/entry points need to explain first, so don’t be too surprised if you suddenly have an extra verification step while using it—anyway, if the trend shifts, it’s very realistic.

Recently, the criticism that the staking and shared security setups are “copy-paste” has been growing, and I can understand. The layered yield stacking looks attractive, but who’s backing it behind the scenes? If something goes wrong, who bears the responsibility? In the end, it’s usually the user themselves. If you really want to play, don’t take “privacy” as a shield; on-chain won’t keep your secrets, and regulators won’t pretend not to see.

What I fear most isn’t losing money, but realizing after losing that I’ve been gambling on “not being targeted” the whole time… That’s enough for now, just don’t go all-in.