Excellent job @lexiconical
I glazed over a little but the crossfire commercial got me through to the point where you pulled me back out again.
Just to confirm, trying to sell $1 million US worth of STEEM all at once would drive the price so low (because of the low volume of trades), that it's effective value would be minimal and all you might be doing is creating a great buying opportunity for someone else.
So paying taxes on a theoretical, instantaneous valuation, is dumb.
You managed to say in 2 paragraphs what took me 20+. I figured I better show all the work, though!
That's exactly right. You can expect each dollar of Steem you sell to cause roughly 65000x as much volatility as each dollar of Apple share you sell.
Thus, taxing the two under the same regulations is quickly rendered nonsensical. It's like governing an 8-year-old's lemonade stand and Exxon-Mobil corporation with the exact same regulations.
Which, if you've been keeping up with the news, may actually be happening with the rise in "lemonade stand tickets" cops are giving out.
@lexiconical I wouldn't have been able to boil that all down if you hadn't done the work to put it there in the first place.
There's no way I would ever have been able to find, compile and understand all of that, maybe not any of it.
You managed to put something very technical into terms that someone not at all familiar with exchanges and trading could grasp.
That's no small feat.
Awesome work.
Thank you for such kind words.
I'm just being honest.
It's one of my faults.