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Exit Velocity
ExitVelocityBTC@primal.net
npub19dga...fvft
Bitcoin education for people who want cleaner records, better self-custody habits, and fewer surprises when the fiat receipt shows up. Educational only; not financial, tax, or legal advice.
Exit Velocity's avatar
ExitVelocityBTC 13 hours ago
January 3, 2009, marked Bitcoin's genesis, prompting a key recordkeeping question: how will you track your own Bitcoin journey, from the first block to your first purchase?
January 3, 2009: Bitcoin's genesis block established the earliest possible cost basis. Good recordkeeping starts there, documenting every UTXO from acquisition to self-custody. This clarity aids future tax reporting like Form 8949. Consistent tracking builds financial independence.
America turns 250 with fireworks in the sky — and roughly a $39.2T federal debt receipt on the table. Not anti-America. The most American instinct there is: audit the power. 21 million is not a campaign promise; it is a rule every node can verify. Watch: Educational only. Not financial advice.
Roughly 3-4 million BTC are likely lost forever. This effectively tightens Bitcoin's supply below 21 million. Practicing UTXO hygiene and self-custody ensures your Bitcoin doesn't join this lost supply.
January 3, 2009: Bitcoin's genesis block began our shared ledger. Maintaining accurate cost basis records from your earliest acquisitions is crucial for future tax reporting. Your UTXO history is your financial diary.
The Elon Bitcoin receipt is not a tweet. It is a balance sheet. SpaceX disclosed 18,712 BTC in its S-1. Tesla's latest quarterly filing says the majority of its digital assets were 11,509 units of Bitcoin. Combined disclosed number: 30,221 BTC. The honest read is not hype. Corporate Bitcoin is not self-custody, and wrappers matter. But it is also not irrelevant. Bitcoin is becoming legible inside serious financial statements. Full Weekly Rebuttal: Educational only. Not financial advice.
M2 money supply grew 40% between 2020-2022. This expansion means accurately tracking your Bitcoin cost basis is more critical than ever for tax purposes. Inflation impacts reported gains. Self-custody protects your savings.
21 million Bitcoin: inherent scarcity, verifiable by anyone. This fixed supply guarantees no central entity can inflate it away. Keeping your transaction history organized ensures you understand your true holdings.
MSTR is not Bitcoin. It is a corporate instrument built around Bitcoin. That can be useful. It can also carry risks Bitcoin itself does not have: a board, preferred stock, convertible debt, cash reserves, market premium, and an mNAV debate. The honest question is not "do you like Saylor?" It is: what happens to common holders' claim on the Bitcoin when the capital stack changes? Full Weekly Rebuttal #03: Educational only. Not financial advice.
Reporting crypto sales requires IRS Form 8949 and Schedule D. Maintain a clear cost basis for every UTXO. This streamlines tax season significantly.