This is really good.
Playing devils advocate here.
Because the rules on Crypto are really very grey when compared to traditional investments, would the ATO look favourabily on you if you thought you were doing the right thing.
So you mention each trade is a CGT event, but most people think its just cashing out.
So you cash out, you declare that on your tax return and pay tax. A reasonable person would assume that in the current environment you were doing the right thing. You're still stumping up a tonne of money to the government.
Or are the ATO more likely to be dickheads and want to push every part of an unclear law on a generally honest person?