If you never turn it back into Fiat money (government issued money). Then there's no taxes. If you do then you report it as Capital gain taxes. In the US that is. I think thats a bad move. Every day there seem to more ways to buy things with cryptocurrency.
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Really? I didn't know you could buy things with Steem!
That sounds sarcastic. I'll upvoted anyway.
Actually I'm serious! Haha. What can you buy?
I have seen people sell their artwork and even sugar cane for steem and steemdollars. And there are projects popping up like @steemshop.
So Steem is the new bartering system?
Well Steemit is a new many things. What it is, is a Social network with the ability to trade money freely. So social network + money = a market place, a way to raise donations for charities, a retirement plan, etc.