BITCOIN, THE "HUI PLAY" OF THE NEW GENERATION.

It sounds ridiculous, but these two forms have strangely common points.

*Note: The article contains folk languages.

Hui play (hội, huội, biêu, phường, huê) is often referred to as hui play. It is a form of capital mobilization in Vietnamese folklore and is usually conducted by women.

When participating in hui, there must be a person who acts as the owner (hui owner) and invites other members to join (hui participants). The hui owner is responsible for collecting the money (assets) from the hui participants. A "hui chain" can have an unlimited number of players. Members of the hui chain agree to contribute a type of valuable asset for transactions such as: money, gold, rice, etc. The hui chain also agrees on the quantity of assets contributed, the number of contributions, the contribution time, the hui opening period...(the hui owner will receive a commission for conducting transactions for the hui participants)

Hui play is similar to a savings jar but allows hui participants to receive the total amount they intend to save more quickly. Once they receive the hui money, that person reverts to a repayment form.

The Bitcoin system is like the "hui owner" helping to store the assets that the players (hui participants) contribute in exchange for certificates of assets - which are the $BTC .

The difference is that Bitcoin participants do not need to know each other or be familiar to participate, unlike hui play, while still ensuring the safety of assets. And there is no fixed day for "opening hui". Bitcoin "hui participants" can "open hui" anytime they want. The earlier you participate or when the price is low, the more profitable the hui opening, while participating late or buying when the price is higher than the current price results in a smaller hui opening (loss)..