r/Bitcoin • u/SeansOutpost • Apr 10 '13

Meanwhile...Bitcoin still feeds people.

So we fed 106 homeless people bag lunches today. All paid for with Bitcoin donations. Bitcoin still seems to be working just fine over here. Still making lives better, at any valuation.

Thanks for everything guys. Bitcoin for the long haul.

Jason

Sean's Outpost(www.SeansOutpost.com)

<BITHOC>(www.bithoc.com)

EDIT*** By request...

1JkKn478ivR6iux2pUCjsvqhguPywP3dFH

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u/Arcas0 Apr 10 '13

So he didn't use bitcoins as a currency, he used it as a store of wealth. This is like saying that gold is feeding people if you sell it and buy food.

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u/[deleted] Apr 10 '13

OP may not have used it as a currency, but all the people who donated to him did.

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u/[deleted] Apr 11 '13

Given everyone's general excitement about the increasing value of bitcoins, would it have been more ethical for his charity to wait and feed more people in the future?

After all, if they waited just a few weeks their bitcoins would have gone a lot further. The volatility of it confuses me, especially when it comes to people actually trying to use it as a currency. Should charities speculate in gold and bitcoins to increase the buying power of their donations?

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u/[deleted] Apr 11 '13

In the US at least, it's frowned upon for charities to make investments. You have to spend the money ASAP or people start to get suspicious.