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you're right to be concerned about privacy
the issue of big institutions using it to manipulate and conceal is real
and bad actors exploiting it is definitely a tradeoff
but i think there are ways we could address the bad actor problem, at least to some extent
i came across how umbra's trying to tackle this sort of thing with range
they spoke about using a screening layer that assesses addresses before letting them interact with the protocol
assigns risk scores based on past activity and known illicit connections
wallets flagged above a certain threshold get blocked automatically
not perfect but it's at least an attempt at filtering bad actors without killing privacy for everyone else
as for big institutions manipulating things privately, i'm sure when we get there, someone will figure out solutions
we have more talented builders than we realize
someone's probably already working on it
let's be honest though, there will always be bad actors regardless of what we do
and with every great solution, there's always a tradeoff
it comes down to whether we're comfortable being monitored
having our entire history tracked "not just financial data" but personal data too since we feed everything into ai now
or whether we adopt privacy knowing it has risks but gives us control
permanent surveillance vs accepting some uncertainty
both have downsides, it's about which tradeoff we can live with