0
1

[–] papul 0 points 1 point (+1|-0) ago 

Well bitcoin's value is very unstable and that makes many people not so eager to invest in it.

0
1

[–] HST 0 points 1 point (+1|-0) ago 

Bitcoin is an unstable crypto-currency. People are saying you shouldn't put a bunch of your money into a bitcoin wallet since it could devalue at any point. There is a lot to know about it that I do not. The basic thing is that people use computers to solve certain equations and then they get a bitcoin. Also the more bitcoins that are made the more complex those equations get.

Also, just a heads up, there's no need for a serious tag here :) You may get a joke reply or two if you don't put one up, but there will be a majority of voaters that properly answer your question.

0
1

[–] Astromachine 0 points 1 point (+1|-0) ago 

Full disclosure, I have never bought/traded bitcoin, all of this is 100% opinion anyone can feel free to correct me.

I think when people say "Stay away" they mean to stay away from bitcoin as an investment. Sure, early bitcoin investors probably had lots of success, but now the currency is no longer unique and the market is too up and down and is not a good long term investment. If all you're looking to do is convert money to bitcoin to make a one time payment you shouldn't have any issues.

0
1

[–] DangerGoat 0 points 1 point (+1|-0) ago 

Bitcoin good for skipping over banks and payment processors. Lacks a lot of utility. Not widely accepted. Poor investment vehicle. Most uses are for drugs, kiddie porn, speculation, or hoarding. Acquiring and selling is a major pain. And you'll find it's user base incredibly cultish. Oh and despite all the bull about fiat dollars/fight the banks it's actually heavily reliant on the currencies it's supposed to compete with in order to make money from it. Companies that accept bitcoin are actually going through a payment processing company meaning they end up holding 0 actual bitcoins. And smaller users are still reliant on selling it themselves using a really flaky expensive process.

0
1

[–] Arceon 0 points 1 point (+1|-0) ago 

While the unstable value point is true, its probably not the reason people are being wary - OP just wants to donate a sum, after all.

The actual "dangerous" part is that the exchanges (that swap your regular currency for Bitcoin) have had a spotty track record in recent times, just look up Mt Gox. Basically a whole bunch of Bitcoin was stolen and despite the whole block-chain deal, some are still unaccounted for. Then of course if you are particular about those sort of things, Bitcoin is often associated with payments for several criminal activities.

That said, if you really just want to donate, I'd say go for it

0
0

[–] slyscafe ago 

Bitcoin is unstable - that's its pitfall primarily. Other than that, it's a pretty nifty concept. I have seen its price increase about $70 in the past month.

0
1

[–] Netto 0 points 1 point (+1|-0) ago 

Bitcoin is a unstable currency and is a risk investment. There are many security flaws in holding and making transaction with Bitcoin and Bitcoin is widely used as a internet black-market currency because of its tax avoidance. Buying some Bitcoin from a credible source and making transactions with credible companies/people should be fine.

load more comments ▼ (1 remaining)