Damn, can't we just say we are sending money from one wallet of ours to other? They won't know shit TBH.
We don't have to tell them anything. At all.
As @pooya87 said, everybody will just switch to the decentralized platforms. We can (and should!) use hardware wallets without their crappy wallet platforms and go on.
The only problem I see is that this will slow down the interconnection between Bitcoin and the financial world.
So it clearly looks bad, but I have high hopes there will be plenty of ways to avoid EU crap when we want to and this may actually make people start using Bitcoin.. more properly.
I strongly agree with NeuroticFish here.
The optimist in me always likes to think that these laws will cause people to
get their coins off exchanges, get
open-source software and hardware with
verifiable builds and start transacting much more amongst each other in a somewhat 'circular, Bitcoin-based economy' kind of way. If needed, P2P exchanges such as Bisq can be used as on-/off-ramps, but even if those were somehow shut down, Bitcoin mining could become more attractive again.
Honestly, what sounds more like 'the Bitcoin satoshi envisioned'?
This (somewhat what is happening often nowadays)
- Coin bought in centralized exchanges
- They are stored on the exchange for easy and quick selling
- Coins used as mere object for speculation
- 'Staked' on exchanges to 'generate profit'
- Nobody mines at home
- Nobody runs a node
- Software clients are closed-source
- Coins are tainted and only 'legal coins' accepted
Or this?
- Coins are acquired by mining at home
- Stored offline in open-source and / or DIY devices
- Coins are used for paying and being paid
- Miner generates profit
- Everyone runs their own full node
- Software and hardware is open-source
- Coins are fungible and everyone accepts all UTXOs