Mickas is correct. Any ethanol blend fuel is hygroscopic which means it attracts and absorbs moisture. It also has terrible 'shelf life' because the blend separates.
I will declare my hand on this topic as my company is the distributor of Sta-Bil fuel stabiliser so we have a fair bit of knowledge on the effects of ethanol.
In ethanols defence, in a daily driven car where the fuel is usually not in the tank for much more than a week it wont pose too many problems but if your car is just a toy that isnt used regularly then tread carefully.
If you do use E85 in a hobby car then you will be well advised to use a product like Sta-Bil as it will pretty much eliminate the bad points of ethanol.
G