Gold Foil Agor Longtail is $50,000 and That's a Bit Tricky

Gold Foil Agor Longtail hit $50,000 per card today and this is the part of the strangeness of NFTs.

None of this article is financial/investment/legal advice, it contains a strategic valuation analysis of speculative assets that can be subject to market fluctuations. You are suggested to seek out a Registered Investment Advisor (RIA) for all investments and the author is not an RIA. Splinterlands' Terms of Service identifies Splinterlands/Steem Monsters as not being an Investment Company. As defined by the U.S. Code of Federal Regulations, Steem Monsters (the parent company of Splinterlands) and the Decentralized Autonomous Organization (DAO) that was published by Steem Monsters can be argued to rise to the definition of being classified as Financial Institutions in the United States. This is a duty to warn and inform given that the actions to be described regard the valuation of assets and speculation of events to take place.

There is only one Gold Foil Agor Longtail on the market right now, it is at a price of $50,000. There are "brilliant" minds in Washington D.C. and inside our various state capitols proposing all sorts of ways to extract wealth out of the hands of the people to put into the hands of the Kleptocratic Gerontocracy. One such idea is to tax unrealized Capital Gains and this would include any sort of appreciation in the price of an NFT, such as a Splinterlands asset. To say that such an concept is fundamentally wrong is an understatement as it creates a more adversarial relationship between individual/corporation and state.

This is not a joke, the Gold Foil Agor Longtail is $50,000.

The Gold Foil Agor Longtail is not supposed to be $50,000. Everyone knows it.

However, this is a temporary market price that is a paper gain. It will last as long as the supply remains this way. If someone swoops in and puts their Gold Foil Agor Longtail at $150, that's a $49,850 paper loss from that price.

These extreme swings in price with thinly traded assets are usually not going to be accounted in ridiculous legislation, but given that these concepts have traction, how would such a dramatic rise in price be treated with such a terrible concept of taxation? The government would naturally want their cut of the $49,800 gain.

Playing class warfare with an experimental, bad faith method of taxing people is usually a Trojan Horse to be implemented on the rest of the public. It's as bad as creating a 23-30% National Sales Tax and setting the Personal Income Tax to 0% without repealing the 16th Amendment of the United States Constitution.

This Gold Foil Agor Longtail situation illustrates one aspect of the ridiculousness of taxing unrealized capital gains.