RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 3 - Powering Down - "Steem Power" Is Not a Tradeable Asset, It's a Proxy For Value Like A Stock Option

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RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 3 - Powering Down - "Steem Power" Is Not a Tradeable Asset, It's a Proxy For Value Like A Stock Option

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hartiverse (40)in #taxes • 7 years ago

@lexiconical I'm new here, so I had no idea Steem wasn't immediately convertible to cash. Very interesting! That first paragraph was the most valuable thing I've read about the mechanics of Steem so far! Thank you!

7 years ago in #taxes by hartiverse (40)

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lexiconical (72) 7 years ago

I'm happy you found it useful! In order to cash out Steem Power for Steem, you have to power down over 13 weeks. It used to be 52! That got changed some time ago, however, and I suppose that means it could change again in the future.

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