For some reason the recommended calculation is not FIFO but Moving Average Cost basis or Total Average Cost basis.
I'm hoping to go with the Moving Average Cost basis, but depending on which service I use that may be limited.
Bitcoin.tax handles average calculations well, but the problem I have with them is that everything is in dollars. That wouldn't be a problem except every time I do a BTC/JPY trade it becomes a BTC/JPY/USD trade, causing me to rack up fake capital gains for the JPY/USD on every BTC <-> JPY trade group.
This adds up over +1000 trades and make it look like I have >$1000 gains than I really have. So until they fix that I'm kinda stuck.
As for cointracking.info they don't provide Average Cost Basis but I don't think the Japanese authorities will mind if I use FIFO (it usually results in more taxes with upwards trends anyway).
The issue is that cointracking is so expensive with the current BTC! It's 0.28 btc for the unlimited plan, which is around $5000 now! The other yearly plans are cheaper but I'm in this for the long run son!
So in order to offset my cost I'm hoping other people will join in and try cointracking with me.
I've included my referral link below, this will let YOU get 10% off your purchase, and I get some bitcoin back. win-win.
Hopefully there are other people here looking to do their taxes properly.
I had been struggling with bringing back my confidence and with getting back into the groove of racing for the past few months. I was still 2 seconds off my best time and couldn't wrap my head around what I was doing wrong.
Then while speaking to my mentor, he said something that made it all click together, and I remembered what I needed to do.
Sometimes I have the habit of overthinking things, and I need to understand the mechanism behind a motion to perform the motion. It happened a lot in break dancing, it's just a lot harder to figure it out and slow things down at 200kph.
During practice I was able to get back into the swing of things and match up to my old best time.
Qualifiers went well, considering I only returned to my 2016 prime less than 24 hours prior. I got all decked out with my new fairing design and new hand painted helmet and put out a 1:02.50, 0.02 slower than my best ever time, so not too bad.
Just a few weeks ago I added the Jam (RapidBike Japan), BabyFace, and Icon arm patches to my suit.
Placed 8th out of 11 in qualifiers, but was really hoping to get 1:01. Hopefully I can get it in the race!
I will be having continued support for 2017 from AFG Motosports (Icon) and from Panolin Japan, so I upgraded my tent space from last year's set up to showcase those brands.
My new fairing design is a vinyl wrapping, and during qualifiers a couple air bubbles got into the wrapping, so we had to pop a few right before the race 👀
The race started off very well for the first 100m~! I usually have good starts so I felt like I couple make a good run a gain a few places.
But then the bike to my left, as I was going to overtake, backfired and veered into my path. At the same time the bike to my right squeezed in and I had no where to go, forcing me to let off the throttle a little.
By the end of the fist lap I was already back to 8th place, where I started but keeping a healthy distance between the two guys in front of me.
About halfway through the race, the guy in front of my runs wide and I make it up to 7th place!
I made it onto the board!
I was able to hold off the position for most of the remainder of the race, however I got passed back and sent back to 8th place.
This race was the best back-to-back 18 laps I've ever put out.
I was able to hit very close to my best time consistently and didn't feel like I was at the limit.
I'm looking forward to the next Tsukuba race in June where I can hopefully make it to the podium.