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Many beginners think privacy coins are a bit shady, but actually, they just haven't been burned on-chain.
Anyone who has traded knows that surviving on the chain requires passing four hurdles:
Information gap—being front-run by a second—trading strategies are transparent in the mempool, opponents can see every step you take; full disclosure of holdings—address balances, purchase records, and investment portfolios are all visible, privacy is completely lost; every operation is targeted—MEV mechanisms allow miners and arbitrageurs to siphon off your trades; asset scale is under surveillance—net worth exposure invites lending risks and targeted attacks.
Is this some criminal demand? No, these are basic on-chain survival rules. Veteran players are using privacy solutions to protect their positions. Protocols like 0xMiden address these everyday pain points. It’s not about doing bad things, but about not being eaten alive.