Thank you for this detailed explanation. I do have a question If someone can answer it...I am on the theory that if I do not exchange to fiat/and steem at this point is limited as a currency in what you can buy, then why would I tax for something in this currency?

My idea on taxes would be to total the actual USD profit from all posts/contests as income (you can still calculate all that). Then total all the value of all my crypto. Subtract the income part out and you are left with your net loss or most likely, a capital gain.

So about 35 percent to the government for the income ( say you just for simplicity change all the income earned to fiat and report to taxes)

Then what is left is my capital gain and every time I change to USD give 15% of that to the government?

Does that work? Haha