I started with less than $10,000 worth of bitcoin, but I bought a few years ago, so it is worth more than that now.
So, the use of the proceeds is the pertinent fact. Hence, using a Swipe card to buy groceries, for example, it would be easy to show that it is personal use. What would be less clear would be if one sold bitcoin for cash on Local Bitcoins, because it would then be relevant what the proceeds are used for? How would the ATO view buying 10 bitcoin for $100 each and then selling for $3000 each three years later and just banking the money? They might argue that was intended as an investment and disallow the personal use exemption even though the cost base was less than $10,000?
That CGT exemption is only for Bitcoin purchased in the last financial year. Older holdings would come under a different rule.
And as for trading between cryptos? I believe any gain would be classed as income and taxed accordingly.
Best to consult an Accountant on your specific situation either way.
In your linked ATO reference, it states:
So, it would appear not just to apply to the current FY, unless I'm reading it wrong.
I would think the trading between cryptos would loose the ability to claim personal use and would trigger CGT events if you are an investor and be classed as purchasing and disposing of inventory if you are carrying on a business.
But I'm not accountant, so please don't rely on this.
And for the real can of worms, what about exchanging bitcoin for steem or ethereum? Does that trigger a CGT event and where is the line between investing in cryptocurrency, carrying on a business of cryptocurrency trading, or just having a hobby playing with "Monopoly money"?
It is all speculation without a private ruling, but it would be interesting to see some test cases and examples.