The problem is not the current 23.8% (3.8% added for Obamacare in 2013), it's the proposed increase to 43.8%.
On amounts over 1m-whatever slave wage you get paid in life, correct?
What if you're not cashing out but just moving money from one investment to another? Doesn't seem as fair when you're not actually cashing out. Maybe there should be separate rates for cashing out or just shifting investments around/rebalancing your portfolio.
That's a very good point: My buying a new nano or whatever and moving my coins to it shouldn't result in a 43% hit. That does need to be corrected and is a consequence of the whole IRS decision way back when that treats bitcoins like gold bars or something.