Modularization, to put it simply, the biggest change for ordinary people is not that it's "more advanced," but that you might not even know which chain you're on anymore: a click in your wallet could send you to a certain DApp, a specific scheduler, or into a certain L2... The experience feels cheaper and faster, but when something goes wrong, it's harder to hold anyone accountable—figuring out which layer the money is stuck in, who's acting up, requires digging through the chain for a long time.

Recently, the community has been arguing about privacy coins, coin mixing, and the boundaries of compliance. I actually understand both sides' anxieties: modularization expands the "composability," but also increases the points where things can be tracked or blocked, enlarging the gray areas and creating more friction.

What I don't regret is that, when I see new narratives gaining popularity, I first reduce my position a bit and keep some clarity for myself; after all, it's never the technical terms that cause you to lose money, but your mistaken belief that you understand everything. That's all for now.