That is the wrong way to look at it. Its value is 1800 right now so you lost 7200 bucks. Never use an appreciating currency for payment.
IRS does not agree with you. I cannot claim a $7200 loss, only the value at the time of the transaction
I've been buying ETH for the past couple of months... just bought more today actually... because the rise of NFTs have finally given me an example of "the killer app" that was necessary for me to have the confidence to finally invest in the Ethereum platform. Tokenizing original digital art like paintings, music, and video, etc. is going to be massive.
With prices like these for images anyone can view on a computer for free (assuming "ownership" is more than just manipulating the image),
Ethereum is a great crypto digital asset (smart contract) platform. There are10's of billions of $ worth of stable coins that have been issued and there are 10's of billions of $ of value locked in Decentralized Finance projects on the Ethereum blockchain Unfortunately, the Ethereum network is congested and the transaction fees are high and are slow. An upgrade is in the process, but may take time to implement. I sold most of my Eth except what I need for gas fees until there's obvious progress to the solutions for the Ethereum network congestion If you like NFT's, you'll probably like defi as well, which imo is also a killer app. Exchanges and banking systems running on smart contracts (i.e. Uniswap and AAVE), in a distributed, decentralized, "immutable", censorship-resistant fashion