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RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 1

in #taxes7 years ago (edited)

I admire your desire to be legal, lawful and moral all at the same time :)
I myself have concerns about the well being of the witnesses to steem.
You know I'm not starting like that without a "However"....
On your point about "blockchain is a public record and lasts forever" for records of earnings:
Have you ever used the "Convert to Steem" tool?
Have you noticed it does no make a record of when the transaction was started or How many SDBs were used to buy the steem? ... Did you also know that the conversion is a process subject to the decisions of the witnesses? If all the witnesses agreed one day, they could set the value of SDB to one cent.