I concur with your post,...more importantly - you should report steem or SBD or whatever when you SELL them or trade them, even for another crypto or FIAT at the fair market value in case of trading for another crypto or fiat value...
If you have put your Steem/SBD from an exchange into Steemit, you should consider that as your BASIS before paying the taxes. If you held on to your Steem for a year or more (using FIFO) method - you should be able to take advantage of long term cap gains.
Of course these apply to US tax laws...each country is different...
Of course, above should be read as an opinion and NOT as an advice!
Yep, you got it! I plan to discus cost basis in a future post, and the potential of classifying rewards as a qualified dividend, for which the tax rate can be as low as 0% depending on your income bracket!