Large transfers should always be of public record. Medium and small transfers should always be private.
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I kinda disagree but what is a large transaction?
If I send 100k to someone, why should that transaction be public record?
I say it from a game theoretic perspective. The perception should be that it's "transparent at the base layer" to avoid undue scrutiny. A large transaction is whatever you would need to do at the base layer. A small transaction is what you would do off-chain. Yes it's a circular definition, but it's a matter of value and trust judgment, not a hard number.