Hello jackmiller,

First of all, I wish you happy holidays and all the best to you in the year to come!

And now I'll be glad to discuss your ideas.

If I can summarize your thoughts, you point out two issues with Steem and Crypto in general: the dysfunctional pegging of SBD to USD, and the lack of tax harmonization between countries.

Getting to your propositions--some of them are making me scratch my head.

-SBD as a crypto is deleted, and no longer tradable, then exchanged either for steem or sbdp.

Despite the SBD's trading rate on open market, I believe the conversion of 1 SBD for 1$ worth of Steem is still possible at this date by executing the command convert_sbd on the cli_wallet, so it relativizes the failure of the SBD pegging (even if not really user friendly)
The SBDP's property you describe sounds like a mimic of the existing conversion by smart contract.

I'll disregard for now the eventual legal benefit to call this a "point" rather than a "token". It's a bit tricky to say for sure what would be considered as a discount from reward point, and taxable income.

From a technical standpoint, if it can't be traded openly, it must be made impossible to send it from an account to another (because that's all it takes for an exchange to open a trading pair on it--this and volume for profitability )

If not backed by a smart contract on the blockchain, then by what? A third party ?

Moreover if this SBDP is not exchanged on the steem blockchain, it would lose the benefit of near instant and free transactions.

Also, I see some friction coming if the conversion is presented as a mandatory operation, because yes, from an investor / trader / gambler point of view, buying sbd up to 13$ dollar at one point, then been called out at 1$, without having the choice to wait for it to eventually rebound, is a loss.