***Disclaimer***

"I am not an attorney,  or financial advisor, please seek a professional in your jurisdiction regaurding financial, or legal advice."

Heres my two cents, from the best of my understanding...

In the U.S

A short-term gain occurs anytime "before" an approximate year of the realization of the gain/loss.

A long-term gain occurs anytime "after" an aproximate year (365 days) of the realization of a gain/loss.
  
The realization of a gain/loss occurs when you decide to make a conversion of cryptocoins, either buy trading, making a purchase for goods and services, or selling. The moment you make a transaction reguarding one of these three, you incure a tax liability.

If you within the jurisdiction of the United States, you must pay taxes for state and federal.
Check your tax bracket to determine your percentage you owe when a gain/loss is realized.

I think assets such as cryptocoins are considered investment income.

Be sure to keep detailed records of any transaction history for every single transaction, including wallet to wallet. It's better to have a clean organized ledger prepared before cashing out.
 Also request an appoimtment at your bank or credit union to discuss the process, and ask if they're ok with crypto investments, because you don't want to transfer a large amount of money and it gets frozen, nor do you want to draw any suspicious activity to you account on large transfers.
Speak with a professional at your financial institution before transfering anything, alert them yourself, becuase crypto is still new to some institutions, and possibly signal red flags for laundering.
 
 If all goes well, you should be in the clear, just be honest!

Regulation seems to be a gift and a curse.
On one hand, their are the founders and participants who have been with crypto currencies like Bitcoin since day one, when the scene first arisen. It is they, the founders who will feel that regulation will be the death of Bitcoin, and alt-coin alike, because it goes against the crypto anarchists state of mind, and the reason behind Bitcoins implementation in the first place, which was to provide an alternative means of performing financial transactions, on a system of peer to peer trust, due to a failure in trust of government backed currency.
   Then on the other hand, you have the investors, like those of the wall st flavor, and venture capitalist who wish to move along the lines of the law. The regulation provides a somewhat yellow brick road to compliancy seekers, looking to tread the course without fear of breaking the rules of the law, though any road isn't without it's perils!
   Like the sword of damascus, the consequence is double edged, spliting the enthusiasts into two opposing sides. In the same breath, without regulations acting as a guidepost, how could one legally cash out? Although crypto is rising in its own right, it at the current moment, can not replace fiat.
Without fiat conversion, cryptocoins like Bitcoin become next to pointless.
   The more regulation, the higher the value will rise because people will begin to feel a little more comfortable when their are compliancy rules laid across the table. It really is a nail biter of a difficultly.

It really depends on your jurisdiction. But the smart thing to do would be to give to Caesar what belongs to Caesar,  and pay your share. Make sure to keep a decent ledger,  and to study the tax system in your jurisdiction.
  Investopedia is the my favorite source for financial information, as they provided a wealth of free information to the financial newbie. Here is a link regarding U.S tax compliancy for crypro coins.

https://www.investopedia.com/university/definitive-bitcoin-tax-guide-dont-let-irs-snow-you/

    Taxes can be discouraging,  be don't fret my friend, just take the time to study the laws, and use them to your benefit! Everyday should be a new learning experience when dealing with cryptographic currencies.

Disclaimer

I myself, do not represent any attorney,  or financial advisor. I'm just here giving my 2 cents on the matter.

Depending on what country, and jurisdiction you live in, the laws will vary. Here within the U.S,
You inherit the cost basis of the amount recieved, at the time of reception.

(Someone feel free to correct me if I'm wrong)

Example:
   Johnny decides to give Sally 100 Bitcoins. Each Bitcoin is worth $1 at the current time sally received the 100 coins. 100 Bitcoins x $1 per coin = $100 worth of coins.
  In the event that the price rises from $1 to $2, and Sally decides to cash out, 100 Bitcoins x $2 per coin = $200 worth of coins.
   The cost basis is $1 per coin, so if Sally sells 100 Bitcoins x $2 per coin, her total = $200 and her capital gain from the sale is $100. So Sally is liable to report her gain/loss come tax filing time.

Short-term capital gains tax is any gain realized within the time frame under a year from realization.

Long-term capital gains tax is any gain realizsd within the time frame over a year from realization.

In the U.S, I think you are personally allowed to receive up to around $14,000.00 in gifts before you trigger a tax liability, and are expected to report anything over as regular income.
  
  Please be sure to try and keep detailed logs of each transaction you make involving crypto-coins throught the year. I myself, need to play catch up, as I'm a little unorganized. Before you decide to cash out, make sure your come correct, in a neat and timely manner.  

Here is a short article: https://www.investopedia.com/university/definitive-bitcoin-tax-guide-dont-let-irs-snow-you/definitive-bitcoin-tax-guide-chapter-2-bitcoin-commerce-taxable-events-c-gifts-and-tips.asp

Thank you brother for the service that you provide. If you were seeking potential clients here on the forum, within the "marketplace" sub-forum under the "services" tab, is the best place to offer your services, as there is a lot of traffic frequency in that area.

https://bitcointalk.org/index.php?board=52.0

Also the "service announcements" within the same sub-forum is a plus as well!

https://bitcointalk.org/index.php?board=84.0

Thank you for approving me for the campaign,  I will do my best to fulfill my duties sir! 

The price of Bitcoin is determined by a combination of supply and demand, as well as scarcity.The more people that join the network, the bigger the economy will continue to grow. Bitcoin getting mainstream attention is the best thing in the world because it allows people to see it, speculate on it, and potentially adopt it. The real gem behind Bitcoin is the blockchain, that is the driving force behind its technology!
  Another major factor that pushes people toward Bitcoin is the fact that it is a decentralized form of payment, running from peer to peer. We live in a time where people are becoming less and less trusting of our governing bodies, so cryptocurrencies like Bitcoin play a heavy role in the alternative factor. You're now at the Fulcrum of the revolution, in this age that we're in, we will slowly but surely see many changes, not just in economy, but within society itself.

 

   Bitcoin always affects the price of most of the market. When Bitcoin rises, slowly but surely other coins will be pumped and follow the trend. The rise of Bitcoin encourages speculators to invest in alternative coins following the upward trend, and just about every coin, including the sh*tcoins receive an artificially inflated pump. Whenever Bitcoin falls and stays down for a while, usually other coins are affected as well and will eventually take a dip too. Bitcoin is one of the few options that act as a sole medium of transaction for converting coin assets into fiat. Every other coin, besides a handful, must be traded against Bitcoin in order to cash out into the fiat.
      Bitcoin is the sole de facto proprietor in most cases, so until the many other alternative tokens/coins start offering fiat options for exchange and conversion, expect the upward/downward trend amongst alt coins to continue. A smart investor will paddle out with his board during low tide, then ride the big wave back to shore when it rises. Just follow the market. Coinmarketcap is a good place to visit alongside whichever exchange you choose. Learn the 10 animal frolics (trading psychology) of the financial world. There are bears, bulls, sharks, whales, turtles, sheep, wolves, chickens, pigs, and rabbits.
        Investopedia is an excellent place for those of us who haven't got a degree in business, marketing, or finance in general. They offer a wealth of knowledge that is essential to succeed in the crypto-coin world.

  Once upon a time, it was viewed to be a morally sacred act, to vow chastity and remain abstinent until that fateful day.
Today it is laughed upon, and considered an abomination if you aren't sexually liberated before marriage, especially amongst women.
most girls make it a mission to get laid in college, just to have bragging rights amongst peers.
We are definitely living in different times today!
 

If there are any spaces available, I would like to apply!

Btctalk name: chaoscoinz
Rank: Senior member
Current post count: 333
BTC Address: 1H8N3dT49Vr68facpnXmzdBGp2rZ7CRQF3
Wear appropriate signature: Yes
Wear avatar: Yes

Your too late, as of December 2017, a bill was passed within U.S parliament reforming the tax loophole of likekind exchanges.
  It is best to just pay your dues, and give to Caesar, what belongs to Caesar! I myself, am not the best record keeper, but keeping some form of ledger is vital, especially in the event of an audit.
  Bitcoin transfers into a bank account above $5000 or more is sure to set off red flags, best to talk with someone at your local financial institution about any large incoming transactions involving Bitcoin, as it should be considered investment income.
  Regulation is the best thing to happen to Bitcoin, because it provides guidance. Is it not better to know the rules, than to blindly assume,  and stumble in the process? Up until now, the government here in the U.S has been pretty relaxed on the regulations of crypto currency, slowly providing guidance over time.
  Welcome to the neo goldrush, here on the digitalized wild western frontier.

Airdrops are not totally free  , it really depends upon the jurisdiction you live in.
Here within the U.S, if you recieve airdrops, you inherit the cost basis of the gift (fair market value) at the time of reception. Most air dropped coins have little to no value, but there are some that do!
 You are only allowed to receive up to $14,000 in free gifts before you incur a tax liability,  and your airdrop is considered part of your income.

Btctalk name: chaoscoinz
Rank: Senior member
Current post count: 330
BTC Address: 1H8N3dT49Vr68facpnXmzdBGp2rZ7CRQF3
Wear appropriate signature: Yes
Wear avatar: Yes

So for clarification, (hypothetically speaking) If a person were to participate in an airdrop that gave out free altcoins, which has $0 value at the time it was received (due to unavailable markets), if they were to hold onto the coins without spending, or moving them, they wouldn't occur a tax liability?
 The waters are a bit murky when it comes to legalities, and taxes on crypto currencies, so any feedback from this post is greatly appreciated!

I think robots will become the new slaves for a while, at least until the singularity happens. The machines are gettting more and more sophisticated these days.
   Have you seen the robots at Boston Dynamics? They have a youtube channel which shows a few teasers of the tech their working on, quite out of this world!

https://www.bostondynamics.com/

  I think society will take some time to adjust to the advancement of automation.

We're living in different times, and religion as we know it, has forever changed. What was once about morals, ethics, and basic principles that help us understand, and guide human nature, has turned into dogma, greed, and scandal.
  The generation of today is has taken human, and civil rights into their own hands by way of whining,  complaining,  and raging until change is made. Religion is falling by the wayside. The newer generation is quite rebellious,  as the former generation was a bit more docile. You could literally put the fear of GOD into the people, in order to draw them into religion.
   Now science has become the dominant religion. A religion of logic, reason, deduction, and absolutes.  It can't be refuted with, it's mechanical nature is tested,  tried and true. Science has no fallacy, and also powers all of our technology ( smart phone, blockchain, etc). It is a godless religion based upon the facts, never fiction.

   She blinded me with science.... oh yeah!!!

I think that signature campaign stakes are calculated first, then the others. They have a bounty channel on telegram with the latest up to date information reguarding token distribution.  I suggest any inquiries  anyone has, should be made there, as the response rate is much quicker.

Here within the U.S a new law has been passed that closes up the loophole that had allowed  "Like Kind Exchanges" on crypto currencies for tax exemptions.

Here is the article: http://fortune.com/2017/12/21/bitcoin-tax/

  Now every single conversion is counted for capital gains/losses tax. If you want to exchange altcoins for fiat, you have to convert the altcoin into Bitcoins, then convert the Bitcoins into fiat.
 Every conversion is now taxed, plus if you mine altcoins, that is seperate times you will be required to address the tax situation.
   Miners have to pay tax on self employment income for every coin of theirs that they have minted, and depending on what income, and tax bracket you fall into, you might not gain much profit at the end of the day.

There is a thin line between Anarchy, and Tyranny.
Freedom without order is anarchy. Order without freedom is tyranny.
What we as a collective agree upon to be considered as rights, are actually privileges. Privileges should be earned, but never given.
   The difficulty lies within finding a natural balance between the two. This is why civilizations come and go, because nobody as of yet, has found the perfect formula. Artificial Intelligence will be the medium that will help us find the missing ingredients.

In Catholicism,  Greed is one of the seven deadly sins. Greed is the desire for more, and ever more.
It is a desire that can't be sated, because it stems from the Ego, a psychological entity that ones mind creates in place of identity. We identify as ourselves,  but the self is the ego, or personality. Greed stems from envy, and lust.
   The opposite of greed, would be charity. Instead of hoarding, you give. Giving respects the Law of Return, inwhich you give in order to receive, which will create balance.
   The Ego is developed subjectively,  through an individuals experience, that is to say, from trial and error. Experience is gained through our own personal journeys through life, the good and the bad. The ego is the personification of your personality. It "is" your personality, and it is quite moldable.
 Even though religion tends to float towards the extreme at times, it is the underlying message that is somewhat necessary,  because the subtleties it teaches you, which are about human nature, and psychology, by way of anthropomorphic analogies.