Hey Phil -

You're right about the paperwork. More like it's not worth doing unless you can pay someone (an accountant) to do the paperwork...which would be expensive.

I didn't even consider steemit. I think you're assessment is correct, that (in 2018 at least) powering up steem and vice verse would be taxable events.

Yes, you would value them at USD when you got the rewards.

As for ordering, the IRS allows for a variety of options. Again more complexity.

And yes again...I am scared of recognizing a gain, reinvesting, then not having the money to pay it cuz I lost it! In theory, you can carry back the loss and amend your return, but that's a huge pain in the rear.

Long term buy and hold is great, especially since you can get long-term capital gains treatment, which for some people can be as low as 0%. A great subject for a future video!

Thanks for the comments. And no, you're not unnecessarily concerned...Taxation is an unfortunate extortion that we should all be concerned about.

Craig