This is a rather soft question.
My understanding:
Suppose we have $x \in ℝ$ and $x^2 = -1$ [in the normal interpretation].
Then the statement "there exists $r \in ℝ$ such that $r^2 = -1$" is true.
This is because $x \in ℝ$ and $x^2 = -1$ form a contradiction, and under contradictory settings any statement follows. That is, in an inconsistent system, any statement is true. [UPDATE: this should be "any statement can be proved" as pointed out in the following answers/comments]
My question:
So, is that still valid to say that the negation of a true statement in an inconsistent system is false? If yes, then we would have any statement in an inconsistent system is simultaneously true and false. [UPDATE: this implication is actually wrong and has been corrected in the following answers/comments]
Or do we rather leave false to be undefined in inconsistent systems? (since I think the definition of false is to some extent redundant in such systems)
Motivation:
I am thinking about what does it actually mean when we say some statement is true.
In a vacuous implication, we say that the premise is false. However, for example, when we are using proof by contradiction to test if a statement is false, we actually treat the statement as if it is a true statement until we hit a contradiction, and then conclude that the statement is false, under the given settings. In other words, a statement is not necessary to be false if we don’t expect consistent system in the first place.
There are different (equivalent) definitions of consistency.
Basically, an inconsistent system is a system that proves a sentence $\varphi$ and its negation $¬ \varphi$.
If so, due to the fact that the negation of a True sentence is False, and vice versa, an inconsistent system is a system that proves True sentences as well as False ones.
Thus,
Regarding your example, we assume that we know facts about real numbers (i.e. mathematical objects whose collection is named with $\mathbb R$), where for simplicity I'll equate a "mathematical fact" with the content expressed by a mathematical theorem.
It is a theorem that, for every real number $r : r^2 \ge 0$.
This means that if we can prove that, for some real $x$, we have $x^2=-1$, this fact contradicts the above theorem.
This amounts to having found an inconsistency in the system we have used to prove it.
If we agree that there are mathematical objects called (real) numbers and there are objective facts regarding them that we can "discover" through proofs in a suitable system describing them, we accept the "classical" concept of Truth and thus we cannot have statements that are both True and False.
Thus, if we have an inconsistent theory of real numbers, i.e. a system that proves both a statement $\varphi$ and its negation $\lnot \varphi$, we have to conclude that the system is a wrong description of the reals and we have to fix it (as happened already in the past).
References:
Jan Wolenski, Semantics and Truth (2019, Springer)
Stewart Shapiro, We hold these truths to be self-evident: But what do we mean by that? (RevSL,2009)