John Dennehy on Nostr: Okay, the govt of El Salvador is directly contradicting itself regarding how Bitcoin ...
Okay, the govt of El Salvador is directly contradicting itself regarding how Bitcoin policy will change as a result of a loan agreement with the IMF
Let me show you. I brought receipts
Yesterday the IMF released a detailed (111 page) document outlining the agreement and supporting documentation
This includes a Letter of Intent (LOI) from, and signed by, the government of El Salvador dated Feb 11th. It outlines various financial reforms they intend to make as part of them asking for an IMF loan [screenshot1/ pages 68-69].
The El Salvador govt details the changes they are proposing, including the line "....as per agreement with the IMF, we will no longer accumulate new Bitcoins in our portfolio." [screenshot 2/ page77]
Clear definitions of what is considered 'the public sector' as well as a mandate prohibiting ANY new bitcoin accumulation (except via seizure) is additionally outlined [screenshot3/ page89]
That was released yesterday. Today, seemingly in response to Bitcoiners reading the agreement and pointing out various changes that were agreed upon, the president tweeted that Bitcoin accumulation is 'not stopping' [screenshot4]
So, WTF is happening? The El Salvador govt is disagreeing with itself--simultaneously saying they will stop accumulating Bitcoin AND that it is 'not stopping'
It's impossible for both to be true
Let me show you. I brought receipts
Yesterday the IMF released a detailed (111 page) document outlining the agreement and supporting documentation
This includes a Letter of Intent (LOI) from, and signed by, the government of El Salvador dated Feb 11th. It outlines various financial reforms they intend to make as part of them asking for an IMF loan [screenshot1/ pages 68-69].
The El Salvador govt details the changes they are proposing, including the line "....as per agreement with the IMF, we will no longer accumulate new Bitcoins in our portfolio." [screenshot 2/ page77]
Clear definitions of what is considered 'the public sector' as well as a mandate prohibiting ANY new bitcoin accumulation (except via seizure) is additionally outlined [screenshot3/ page89]
That was released yesterday. Today, seemingly in response to Bitcoiners reading the agreement and pointing out various changes that were agreed upon, the president tweeted that Bitcoin accumulation is 'not stopping' [screenshot4]
So, WTF is happening? The El Salvador govt is disagreeing with itself--simultaneously saying they will stop accumulating Bitcoin AND that it is 'not stopping'
It's impossible for both to be true