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Bitcoin is considered a property since it is not specifically categorized otherwise, so it works a little different than currencies.

But answering that question is very complex for business, you probably don't need to worry about small gains as a person.

If you buy a (large enough) amount of some currency; later sell it, and the difference makes you a profit - then it's taxable income.

Intent doesn't matter as such - if you do it for 'practical purposes', then you most likely don't realize the gains (don't trade USD->EUR->USD, but do USD->EUR->buy stuff in Europe) or have very small volume (lots USD->lots EUR->go on trip->convert a bit EUR back to USD).

The article mentions there is a $200 exemption for personal transactions. However this only applies to personal transactions, not investments.

This also appears to not yet apply to Bitcoin, only "recognized" currencies like the Euro.