Don’t trust, verify: Trump must be held accountable

“The politician thinks about the next election;
the statesman in the next generation”
Otto von Bismarck

Donald Trump won the presidency of the United States and there is a lot of enthusiasm in a large segment of the bitcoiner community, at least the most vocal on the social network X (Twitter). It seems that, just because he was elected, they assumed that he had already fulfilled his promises. As the saying goes, You don’t have to count the chickens before they hatch.

It is strange, not to say uncomfortable, to have to remind bitcoiners that skepticism, and not apology, should be the basic position towards any politician. “Don’t trust, verify” is a maxim that not only applies to software, but also serves as a guiding principle to approach all reality, especially centralized power.

In his previous presidential term, Trump repudiated Bitcoin. And the bitcoiners… let’s say, at least, that they did not praise Trump as seen lately. Now that Trump rectifies and changes his position on Bitcoin, the focus and deference should not be directed towards the man, but to the commitments made with the industry when seeking their votes and accepted its financing.

Trump made at least ten commitments to the industry during his campaign:

Of these actions, There are some that are immediate action and they depend only on Trump’s will; Others would take more time and require the sum of several wills.

Pardoning Ross Ulbricht is a discretionary decision of the president and can be made as soon as he takes office. This pardon is first commitment that bitcoiners should have in their sights to consider whether or not Trump is a person of his word.

With the majority of Congress in his favor, ending hostility against the industry sounds like something that should also be expected from day one when he takes office. The biggest obstacle to making this possible: Gary Gensler.

Although Trump promises to fire the current president of the Securities and Exchange Commission (SEC), who has had a persecutory effort against companies in the sector, in theory, he could only fire him for just cause. The review process can take up to a year, which would allow him to complete his term in January 2026. It would then be up to Gensler to decide whether to continue his term or resign.

Something similar happens with decisions that have to do with other organizations such as the Federal Reserve, the Treasury Department, the Department of Justice. Although they are positions nominated by the executive president and ratified by the legislative branch, these bodies are expected to act independently and impartially with respect to the government in power. Therefore, decisions such as curbing CBDC developments, establishing a strategic reserve in Bitcoin, using cryptocurrencies for debt management, and preventing sales of the country’s Bitcoin holdings, These are measures that can take time, if the regular canons are followed.

This does not mean that they are commitments that should be forgotten, much less delayed; Everything is achievable if there is enough political will. Precisely because of the time they will take to be completed, they are actions that must be planned and managed if Trump wants to fulfill his promise. Let us remember that this is Trump’s second term and, according to the 22nd amendment of the United States Constitution, no person can be elected president more than twice. Despite these conditions, Bitcoin does not appear among Trump’s first executive actions.

For this reason, bitcoiners, especially those who financed his campaign, must be much more attentive and pressure Trump and all supported congressmen to fulfill their commitments.

With no future reelection to serve as an incentive to keep his word in order to get new votes, Trump has no transactional pressure to honor his word. This is another reason that should increase our skepticism to avoid becoming complacent with the newly elected president.

What to do then? Following the paths of democracy, American citizens can stay in communication with their representatives to pressure the president; organize, participate and/or support NGOs that work in defense of the industry; promote discussion in face-to-face and digital forums so that the reminder of the commitments made remains in public opinion. In general, demonstrate, protest, make noise so that promises do not remain empty words.

Promoting Bitcoin is like building a monument, something whose fruits you may not see immediately but that you know will become your legacy for the future. This is something that Bukele is knowing and that, if Trump follows in his footsteps, he will leave his name marked in the history books.

In other words, Trump must be at the service of Bitcoin; Bitcoin will never be at the service of Trump. Bitcoin has already won. Bitcoin has been winning for years and this has nothing to do with who is president of the United States. The only thing that can change who runs this or another country is how quickly Bitcoin adoption moves forward or how much friction people find in adopting it.

Bitcoin doesn’t need any politicians. On the contrary, it seems to be politicians who need Bitcoin. That’s why they use it as a campaign flag. That’s why they make promises to support the industry. Because they know that the future, and the capital of the future, is there.

In some years, when we do zoom outTrump will be just another episode in the great epic of Bitcoin. Therefore, there is no point in wasting ourselves in praise of him before his actions take the place of his words. But since he promised to serve the industry, bitcoiners must take advantage of this opportunity to channel their work towards actions favorable to the industry and to be accountable for the commitments made.