It is not just compounding it is about earning interest. Interest is not permissible for us. As for the Hive power we earn by curating which involves a transaction of rewarding (Paying) the author of the post , we get paid for rewardimg other users which makes it not a direct interest income.
Basically, any income that is earned as interest by lending (on any platform fiat or crypto) is haram for us which is why even though we earn HIVE or HBD which are printed out of thin air the "transaction" of upvoting makes Hive rewards not interest.
I know , will give that to charity once it is credited. I think it is automatic and cannot be stopped . Please ping me if you know anyway to stop that appreciation.
It is not just compounding it is about earning interest. Interest is not permissible for us. As for the Hive power we earn by curating which involves a transaction of rewarding (Paying) the author of the post , we get paid for rewardimg other users which makes it not a direct interest income.
Basically, any income that is earned as interest by lending (on any platform fiat or crypto) is haram for us which is why even though we earn HIVE or HBD which are printed out of thin air the "transaction" of upvoting makes Hive rewards not interest.
I think, not all of 'ulama say to haram, right?
It is haraam brother. :)
Thats a bit confusing since you earn 2,8% Interest on HP without upvoting or anything. which is compound interest just like Hdb oO
I know , will give that to charity once it is credited. I think it is automatic and cannot be stopped . Please ping me if you know anyway to stop that appreciation.
Okay cool cool, yes its automated and no, I dont think kt can be stop :/