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a gift tax must be paid on them.

😁

Yes, it will become very complex here to demonstrate "gifts": donations over a certain amount would have to be able to show they were for "public benefit" in order not to be subject to one kind of a tax or other.

and @shanibeer

I'll do everything I can to define Hive as donated, TBH when I cash any out, the gain would have been so much I probably wouldn't mind paying 20% tax anyway.

I probably wouldn't mind paying 20% tax anyway.

depending on how successful HIVE is 20% might be the minimum - but as you say, in that happy case, none of us would mind very much.