Basal is background insulin; in my case Levemir. Bolus is quick-acting insulin; in my case Novorapid.
The quick-acting is directly linked to the number of carbs you consume, hence why when going low-carb it's important to carb-count and reduce your insulin accordingly, otherwise you will hypo all the time. As I was very insulin sensitive, I was already on a ratio of 0.5 : 1.5 in any case thanks to use of a half-unit pen. It was soon very clear that on LCHF I would not need any bolus at all, as continuing to take it meant frequent hypos, thus needing sugars again and the inevitable spikes (and feeling rotten).
The basal (background) insulin was reduced very slowly, and one unit at a time to see how my levels were sustained, and to ensure other readings from my blood tests were not hampered in any way.
With sticking to my LCHF lifestyle, my body gets all the goodness it needs to run efficiently, and with gentle exercise (walking the dogs) everything runs well.
I do still get Dawn Phenomenon, but as I know my BGs will rise by 2 units (on average) every night, am content to go to bed in the 4-5 range. When I was on insulin, I would need to be 6.5 to go to bed, as morning results were unpredictable.
My pancreas can clearly cope with releasing enough insulin to manage LCHF, but does struggle with over 30g carbs in one go - so most meals are between 0-20g; it's no hardship, you find new recipes/foods every week, and hence can enjoy a varied diet, still eating out on occasion with friends and family. Once you fully understand LCHF and if it works well for you - you won't want to 'poison' your system again with a high carb lifestyle. So many friends (non-diabetic) are now also looking at LCHF, as they have seen the huge difference it has made to me.
My consultant is very aware of LCHF, and one of his patients has followed it for over 7 years to date without needing insulin. As the NHS does not currently promote this lifestyle, it is often hidden under the 'honeymoon' banner, but time will tell as to when these separate. My DSN's are amazed at my results since changing to this lifestyle, they don't fully understand it as they have not been taught it, but are watching my results closely. My own GP I now haven't seen for over 18 months, as my health has been so much improved, the DSN's can see to all my needs - however, he would have advocated to stay on my original doses of insulin as he did not know about the viability of 'alternatives', and I found it increasingly difficult to get an appointment with him anyway.