Fstsven, sounds like you have either a valve guide seal going, or perhaps there is an issue with a slightly warped head.... (warm engine causes thermal expansion which bridges that gap....) Either way, those are serious issues.
If it is indeed a valve guide seal then you will probably still burn oil, however at start up it will have a chance to pool in the cylinder and cause a large amount of smoke at start up.
Try running the motor till its warm (run it hard for about 25 minutes), take it to a flat level surface and turn it off, allow it to sit for 1 hour. Start it and look for blueish smoke. If you cant see any, it is probably a valve guide seal. If nothing comes out, well its slim but there could be an issue with your head being slightly warped. If so check your coolant reservoir for clouding.
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