Jimmy Nguyen speaks in English at the first Bitcoin SV meetup held in Stockholm, Sweden. Jimmy’s talk is on the concept of digital cash and how it can replace paper money.
After the introduction, he spoke about how to use Satoshis. He explained the transaction process that will take place between you and the software. The next part of his speech was about the use of the software. He gave out some useful tips and explained why this would be the future of money.
He also discussed why a person would want to use the software. He stated that it makes it possible for people to transact without banks, using only one service that they can trust. This type of technology also provides better security and privacy. Jimmy stated that if a person used this software, they could go online and make any kind of transaction they want and never know that they are doing it, because the transaction will go through.
He explained the idea of how the transaction works. First, the user enters the amount of money they want to pay, followed by the amount of Satoshis they are willing to pay. Then, the software uses the power of mathematical algorithms to determine the right price. Then, they will print a receipt so that the transaction is recorded. The user will then receive money back from the software and the transaction was completed. If this transaction is confirmed, then the user will receive the full amount.
Jimmy Nguyen explained how this works and explained how this software will replace paper money. He explained how the transaction is processed. Next, they print the receipt. Next, they send the receipt to the recipient who has sent the transaction. This way, people will not be able to make the transaction with fake information. The only person who knows that the transaction was made online is the person who sent the receipt. Then, the transaction is recorded.
The last part of Jimmy Nguyen’s talk covered the philosophy of why people should use the software instead of paper money. He described the philosophy of the future of money and how this system will become the way we pay for everything.
Jimmy Nguyen stated that a person will be able to pay for the price of almost anything, which will include gas. This would be much better than the current situation where a driver needs to buy gas all the time and that would drive up the price. They also could purchase things like clothes and food with their savings as well, making it much easier to earn money and not have to spend money on these things every time they need it.
Jimmy Nguyen also explained how this type of software would eliminate the need for banks, which will result in an increase in the value of the dollar and decrease in inflation. and how this would ultimately benefit the whole world. as a whole.