This week I've been thinking a lot about the privacy dilemma in blockchain. Complete transparency is like being naked, while complete anonymity risks harboring wrongdoing. How do we define reasonable privacy in this middle ground? Recently, I saw @0xMiden's concept of practical privacy, and I found it interesting. It doesn't aim for absolute darkness but rather for a shadowy area with light. Your transaction details can be protected by default, not needing to be publicly visible to the entire network, but when necessary, you can use technical means to prove your innocence to regulators. It's like putting a selective transparency on financial data. I think this balanced approach might be right. After all, for mainstream adoption, it can't just attract geeks or idealists. Real users, whether businesses or ordinary people, don't need extreme options, but rather responsible privacy—protecting themselves without causing problems for the system. Perhaps the real breakthrough in the future won't lie in how much more hidden the technology can be, but in designing how many trustworthy and selectable levels of visibility can be achieved.