Recently, I’ve seen people talk about on-chain privacy again—and it somehow turned into an argument over “compliance,” like it’s touching a live high-voltage wire. To be frank, my expectations are pretty low right now: on-chain isn’t an invisibility cloak. Your transfer history, interaction habits, and even the cost-related data are likely to be pieced together—only it depends on whether someone is willing to put in the effort. If you really want to be completely unseen, don’t count on it.

Over on Layer2, they’re still comparing TPS, fees, and subsidies, loudly saying “for users,” but in practice, it’s often about grabbing traffic and shaping the narrative. Ordinary users shouldn’t fantasize that they can be anonymous to the max, freely move in and out of fiat, and have the platform never ask about where you came from… the odds of all three happening at the same time are pretty low.

What I do now is: expose as little as possible, but I’m no longer chasing explanations—I just accept randomness. If I really run into situations where I’m asked to prove the source, I’m mentally prepared in advance: it’s not personal—those are just the rules.