[Opening Post 2:]

This thread serves as an extension to the maintenance and liquidation portion of my BTC Investment ideas thread since some of the various Opening posts in that thread were starting to get overly cluttered and potentially confusing.

1)   This post:  Introduction (Opening Post 1):  
2)   Opening Post 2: Creating monthly withdrawal limits - based on the then BTC Spot price's direction and distance from the 200-week moving average, and of course a withdrawal rate and quantity of coins in the account
3)   Opening Post 3: Establishing price-based sell thresholds  - including potential buy back options (yes seeming to border on trading - but really could be considered as ways to insure the BTC holdings from inevitable volatility
4)   Opening Post 4:  Reserved - still to be determined

I am hoping that some of these ideas will be helpful to others, besides me and maybe helpful for institutions and/or governments too.  

Anyone have any suggestions, questions or similar ideas that they would like to share in this thread?  Please do.  

Even though I made this as a self-moderated thread, I am open to attempts to critique the various ideas or investment frameworks herein, but at my discretion I may delete posts that I determine to devolve too much into personal attacks (without seeming to provide adequate substance), shitcoin pumpening, bitcoin naysaying (that largely appears to me to be backhanded ways to shill some kind of a shitcoin) trolling or shilling.  

I would like to NOT delete many if any posts, but let’s see how it goes.

Last Edited: December 17, 2023

[Might we have deficiencies in Niacin and/or Glutamine negatively affecting the quality of our lives and/or our longevity?]

Might we have deficiencies in Niacin and/or Glutamine negatively affecting the quality of our lives and/or our longevity?

I wasn’t really sure if I should make a thread out of this or just post this information in some existing thread.. but I was somewhat struck when I came across what usually would have had been a bitcoin podcast from February 27, 2023 (nearly 4 hours long) – and the guest (Dr. Dmitry Kats) was talking about population deficiencies in Niacin/Glutamin in terms of being a kind of ongoing conspiracy and/or purposeful plot that dates back to knowledge/studies from the 1930s.. and so from his point of view there has been a kind of purposeful pushing of the creation of Niacin/Glutamin deficiencies in the populous… even though Niacin/Glutamin can apparently prevent and reverse a lot of mortalities (or would it be co-morbidities?),…. And to extend lives, apparently.

Once Bitten! A Bitcoin Podcast.
Dr Dmitry Kats - The Truth About Niacin. #317
February 27, 2023



And some of the discussions in the podcast regarding absorption of various nutrients and interactions (such as drugs and nutrients) was a bit beyond my abilities to comprehend, and even his suggestion that certain kinds of products were more pure or less pure is not a kind of discussion that comforts me very much, because I find that sometimes when the cure or the way forward is too technical, then I become more suspicious in regards to whether something is being sold to us.

It seems to me that Dr. Kats seemed to be saying that sometimes we may well not be getting the right quality and combination of products.. and surely he is saying that some of the products that we are getting end up depleting our bodies in various ways… and frequently, I hate to believe that human health has to be so specific in terms of specific doses of supplements or whatever in order to fix the evils of the various experiments and plots against us – even though I have been motivated into at least looking into some Niacin/Glutamin supplement products.. and pondering why I had stopped taking Niacin supplements several years ago - back when I stopped being able to find the big bottles with 500mg tablets in Costco.

Anyhow, at this point, I have been so motivated that I created this thread and also currently, I am likely going to start taking some form of Niacin and Glutamin… and then ponder further over details of the matter further… and even to use myself as a kind of Guinea pig to see if there might be some results in my starting to add those kinds of supplements to my current daily routine.. and yeah, I might end up abandoning or changing products (first I have to figure out which products I am going to try out).. but I am at the earlier research portion of my journey.. whether I end up being the Guinea pig or not.

Have any of you thought much about Niacin and/or Glutamin deficiencies as a kind of current, persistent and ongoing root cause to health issues?   Are there some other important point(s) that I might be missing from the podcast or related lifestyle matters?  Of course, many of us likely recognize the values of diet, sleep, exercise and moderating stress levels too… so sometimes various deficiencies that we might have in our body could come from lifestyle choices or even genetics or even some inevitable aging issues that are not necessarily going to be fixed by either lifestyle or supplementing choices. 

Of course many of us would like to be able to reverse negative health issues and/or to extend our lives in various ways that we are capable to accomplish, yet how to be successful in any attempt to achieve such goals might be another matter.

By the way, Dr. Kats did weave in some discussion of bitcoin during the podcast (mostly at the end), and it seems that he is fairly new to learning about bitcoin, but at least he seems to recognize the sovereign individual angles of bitcoin.. at least at a foundational level. 

[Opening Post 2:]

In recent times, I had been feeling some redundancy and repetition regarding my attempts to share some of my ideas about BTC and BTC portfolio management and various factors that people need to attempt to account for in their considerations about bitcoin.  

I created this as a self-moderated thread in order for me to exercise some discretion in terms of removing possible shitcoin, trolling or shilling posts above and beyond what forum moderators might consider, and likely I am not going to be too inclined to delete posts even if they are critical of my ideas.. but we will see where the post substance goes or if there is any participation beyond just me.

I thought that the creation of this thread could be helpful for me to have some of the ideas in one place and potentially allow me to lessen some of my needs to repeat ideas… whether in the form of various PMs or in various threads that I am presented with seemingly repetitive ideas..

Maybe in the end, the creation and intended maintenance of this thread will not lessen repetition of my posts regarding ideas outlined herein..? time will tell.  

Of course, for at least an initial period, I will need to flesh out some of the first few posts in a kind of work-in-progress way.    

I am considering categories of:

1)   This post:  Introduction (Opening Post 1):  
2)   Opening Post 2: Getting started – assessing personal financial situation (in relation to ability to invest in bitcoin)
3)   Opening Post 3: Accumulation, maintenance, liquidation (or creation of legacy) of BTC  
                    3) a) -  Outside related thread Ideas of sustainable withdrawal
4)   Opening Post 4:  Attempts at BTC price predictions
5)   Opening Post 5:  Other considerations / resources, bitcoin podcasts, threads of other forum members or my other threads

I am also hoping that some of my ideas and outlining of intended investment bitcoin ideas will be helpful to other persons besides just me and maybe helpful for institutions and/or governments too.  

Anyone have any suggestions, questions or similar ideas that they would like to share in this thread?  Please do.  

I am also open to attempts to critique the various ideas or investment frameworks, but at my discretion I may well end up deleting posts that I determine to devolve too much into personal attacks (without seeming to provide adequate substance), shitcoin pumpening, bitcoin naysaying (that largely appears to me to be backhanded ways to shill some kind of a shitcoin) trolling or shilling.  

I would like to NOT delete many if any posts, but let’s see how it goes (especially since we are on the interwebs and cannot always know beforehand whether discussions will get too much derailed)?

Last Edited: November 24, 2023

[Anyone interested in talking about USA tax consequences and various "creative" ways that BTC accounting might accomplish ways to adequately deal with Bitcoin trades (transactions) that might otherwise get flagged by the IRS in the event that a proper accounting (or reporting) is NOT made?]

It is tax season in the USA.


Anyone interested in talking about USA tax consequences and various "creative" ways that BTC accounting might accomplish ways to adequately deal with Bitcoin trades (transactions) that might otherwise get flagged by the IRS in the event that a proper accounting (or reporting) is NOT made?



I mean our goal as BTC holders or traders is to appear to be "avoiding" taxes and NOT "evading" taxes, right?  


So we have to figure out ways to make sure that we do not raise any red flags with the IRS in our accounting methods and to transgress into the "evading taxes" category, right?

Personally, I have several bitcoin accounts; however, I only used one account (My circle account) in 2016 to cash out bitcoins to my USA bank and into dollars.  

In total, I have used four accounts to transfer from USA banks to my various bitcoin accounts.  And, we know that once bitcoin is in bitcoin, then we can move it all over the place and back again, right?

Here's a summary of the status of my 2016 bitcoin accounts that are connected with USA banks.

Uphold - (only used this account to deposit from fiat into bitcoin in 2016)

Coinbase - (only used this account to deposit from fiat into bitcoin in 2016)

Gemini -  (only used this account to deposit from fiat into bitcoin in 2016) they issued me a 1099k, which seems to reflect amounts that I paid into them and not amounts that I transferred to my USA bank.

Circle - (used this one quite a bit for cashing out of bitcoin and into my bank in 2016).  I think that I had cashed out more than 100 times through the year but Circle did not issue me any kind of 1099 form regarding my transactions (whether that is the form or 1099B or 1099K.  

I am kind of wondering, since Circle went out of the buy/sell BTC business, are they going to be reporting to the IRS - and wouldn't they also issue a 1099 form to me?
  
My usual practice would be to cash out BTC on Circle while simultaneously buying back BTC on some exchange that I have dollars (more or less an equivalent amount of BTC in order to take advantage of arbitrage gain opportunities. Some of the other Circle transactions were merely someone paying me with bitcoin for some kind of goods or services and I would convert those BTC to dollars the same day (and accordingly cash out).  

I have created a list of my BTC transactions that are connected to my cashing out of BTC and into my bank account in which I am planning to report all of those trade cashing outs; however, I was not planning to report the payment of goods and services transactions.  My thinking is that the transactions where I get paid in bitcoin and cash out into dollars right away are not substantial and/or necessary to account to the IRS.


Part of my current dilemma is this:

Some people think that you only need to count the BTC transactions that go through your bank, and other people think that you should be more thorough with your BTC accounting.  Part of my dilemma also is that I am reporting something that Circle appears to not going to report; however, I have so many Bitcoin transactions, that I would run a major risk if I do not  say something and account for a decent portion of those BTC cashing out transactions.

As I said, for the most part, my deal that I intend to report has been to buy back back the BTC, within about a day of when I cash out through the bank - kind of taking advantage of arbitrage opportunities.



So far I have:

Filled out schedule D (which is a 1040 attachment) to link short-term capital gains (seems to be cheaper than if I attempted to count those transactions as long term gains, especially when I had already established a practice of buying back BTC right away).

I also used form 8949 (which is an attachment to schedule D) to list the bitcoin transactions on a monthly basis.  Therefore, I put the totals of the BTC transactions for each month, and the gains in each row, and at the bottom I added up all of the months to come up with a grand total for transaction amount and a grand total for gains.

I also used schedule C-ez (which is an attachment to the 1040) to report expenses and losses.  One time in 2016, I had a guy who did not pay me for the bitcoins that I sold by reversing his Venmo payment to my bank, so I counted that transaction as a loss.


Question:
Anybody have any tips and tricks regarding how they are doing this, and do you think that my method or my thinking is screwed up?  I am working on finalizing my tax forms in the coming days, and probably going to finalize them and to file them in about the coming week.

Since Open ledger is supposed to be starting up today:


Anyone open an Open ledger account for the purpose of trading (mostly I am considering trading BTC and dollars)?


https://bitshares.org/



It appears that that the fees are going to be pretty low, no?


https://bitshares.org/technology/decentralized-asset-exchange/



And, seems to be fairly secure to download the software, like NO ONE is going to run off with your coins, no?

https://bitshares.org/register/



In reviewing some of the materials, I am a little bit nervous about the whole decentralized process (which I understand is one of the whole purposes of bitcoin).  Currently, I keep my bitcoins with a variety of quasi-centralized arrangements (such as Circe, Coinbase, Blockchain and BTC-e).

I would like to hear about some of the experiences of others regarding this open ledger matter before I delve into it.