The theory of double truth, erroneously attributed to Averroes and his followers, postulates that two contradictory statements can coexist, one reached through reason and another revealed by faith, both being true in their respective fields.
This false theory, a cartoon with which scholastic theologians of the thirteenth century as Ethienne Tempier attacked the Averroists, It seems to be resurgating in contemporary economic thinkingspecifically in the administration of self -denominated Philosopher king, Nayib Bukele.
According to the International Monetary Fund (IMF), El Salvador fulfills his agreement not buying more BTCrequired in the conditions of the multilateral agency to disburse a loan of 1.4 billion dollars to the country. This was ratified by the president of the Central Reserve Bank of El Salvador, Douglas Rodríguez, and the Minister of Finance, Jerson Posada, in a letter to the IMF that reported cryptootics.
But the Bitcoin National Office Keep publishing daily their respective propaganda pamphlet, stating that “El Salvador bought more bitcoin”, using on-chain data to support it.
This information is directly confirmed in chain analysis sites such as Arkham, where daily transfers are shown from the Exchanges Binance and Bitfinex, a company that has had close links with El Salvador, while it would serve for the issuance of the still expected volcano bonds.
How is possible, then, that both truths live together? Doesn’t this break the logical principle of non -contradiction? Can faith coexist in the Sacrosanta word of the IMF and Salvadoran officials, on the same ontological plane as the verifiable truth by reason by Bitcoin’s accounting? Yes, because we see a transparent opacity.
Bitcoin’s accounting is a source of truth as few in the contemporary world. In these times of post -truth, where it is almost impossible to know if something is true or created by artificial intelligence, the Bitcoin network, designed with an adversarial and distrust mentality, in which thousands of nodes verify compliance with the rules and in which the mining power makes it prohibitive to modify the registered information, it is an oasis in a desert of lies.
This is why, in March 2024, when El Salvador revealed this direction, we consider it a milestone unpublished transparency and auditability in history. Any person, from anywhere in the world, can know the movements of funds that are carried out to and from this direction, and investigate in their nature and the connections with the entities with whom these movements are made. And so it has been.
However, the bitcoin network, like any cryptocurrency network, It is a closed system. He has no way of knowing anything about external information to his network. And that is exactly what happens with the transactions from Binance and Bitfinex.
Internal transactions in the exchanges are not settled on the network until the money is removed; They are only registered in the private accounting of the exchanges and in the balances of their users. While this information is not public or accessible, we can know anything about it.
Given this limit to knowledge, we only have transparency of the bitcoin On Chain. In March 2024, Bukele said that the revealed direction represented “a portion” of its BTC. The Savior could well have hundreds of Bitcoin in Exchanges, enough to maintain the daily purchase theater of a bitcoin here until they manage to pay the IMF loan and can, in effect, resume their real purchases.
But the National Office of Bitcoin is the only one that says that El Salvador continues to buy Bitcoin. The philosopher King, after being so vocal on the subject and ensuring that the Savior would not kneel before anyone, He does not publish anything about Bitcoin since January 30 of this year; He only does retweets, without affirming or refuting absolutely anything, leaving the double truth in a state of suspense.
Logically, the double truth of the Bitcoin of El Salvador is not supported. That quantum state, Schrödingereano, in which El Salvador buys and does not buy Bitcoin at the same time, It is nothing more than propaganda to continue enchanting Bitcoiners.
After being pioneers in the adoption of Bitcoin at the nation state level, opening the door so that politicians from all over the world took confidence to implement similar policies, probably also influencing Donald Trump’s decision to promote this industry in the United States, it seems that the IMF managed to end this first stage of Bitcoin in the Salvadoran state.
After eliminating the legal course, discontinuating the Wallet goat, liquidating fidebitcoin, and others, the creature of Bretton Woods seems to be managing to defend its role as guarantor of the supremacy of the dollar at the state level. However, this could be a tactic within the strategic vision of Bitcoin in El Salvador.
From the perspective of national interest, the Savior may momentarily need the IMF and be choosing to give to its conditions for reasons of state reason. However, the fact that this kind of double speech is maintaining with respect to Bitcoin’s purchases demonstrates that this narrative is not willing to release and that It should keep the favor of the bitcoinerswho knows the strong potential of this industry.
Until then, Bitcoin in El Salvador continues along the path in which he was born, from the entrepreneurial spirit of his communities, citizens, circular economies and educators, now probably with more impulse because he has been discouraged from the ideological burden with which the detractors of the government associated Bitcoin.
Bitcoin has not needed any government to advance. Before the network, all nodes are the same. And if the Government of El Salvador is not buying BTC, then greater opportunity for Salvadorans to accumulate.
