This is a brilliant idea.  The devil is in the details.  I have run exchanges and it is the details that kill you (as Mt. Gox knows).  But still, the crytpo currency community needs and exchange that can function reliably and in an open and distributed manner.

oops....The SITE is not working.

The sight is apparently not working.

You have got it exactly right.  Just don't lose sight of time.  These things take time.  Sometimes generations.  But your basic analysis is sound. 

Ps...as a note, regulation mostly would be good for Bitcoin, as long as there is not an outright ban and bankster lobbiest don't create barriers to favor the usual suspects (that is the most likely hurdle to overcome).

If your in NH, I can sell you mine for cash.  At Mt. Gox + 3%

The graph has looked exactly that way since January.  It is interesting, but not an indicator of direction.  It does not in any way evaluate "market orders" that immediately match against an offer.

This is HUGE!!!!  http://mobile.blogs.wsj.com/cio/2013/04/01/western-union-eyes-digital-currency-services/

how can some transactions NEVER confirm?  what becomes of the BTC in that case?  is it lost in the ether?

This is a great idea!  We can shop our support to jurisdictions that recognize the opportunity rather than the threat of bitcoin.  How do we begin?  I am in.  20 years of experience in trading/exchange management and financial industry regulation.

BTC123 is perhaps the worst possible thing that could happen to the Bitcoin community.  Much of what BTC123 is saying is foolish.  While I agree with his forecast on price (at least to 100k), and the willingness of VS's to back payment/exchange oriented companies, BTC123 is completely wrong about regulation and manipulation.  In fact, anyone in this forum thinks that manipulation is ok provided it is applied to a commodity rather than a currency or a security, please do some light reading after you google Enron, and various other CFTC/US Attorney prosecutions.  This jurisdiction is not constrained by the asset but rather your citizenship (BTC123 I hope you are not American, but if you are I can refer you to excellent legal counsel - you will be needing it soon). 

As further evidence of BTC123's fool status, he is broadcasting a strategy that is hardly original.  It is the traders equivalent of bragging about getting your training wheels of your bicycle to a band of Hells Angels (as they rumble by).  Nor is a forecast of $1,000,000 particularly prescient.

It is a waste of my time to go on about this, but I hope the BTC community will realize that a rational evolution of this market with less volatility and more professional infrastructure is sorely need in order to gain popular acceptance (in case your blinded by the BTC light bit coin is far from popularly accepted.  In order for that to happen, we need to loudly object to the foolishness of the BTC123's of the world - even though it wont stop them from being a fool.

Exhibit A about why every household should own a meaningful amount of bitcoins:

http://www.zerohedge.com/news/2013-03-16/europe-does-it-again-cyprus-depositor-haircut-bailout-turns-saver-panic-bank-runs-br

There is some simple math that drives the whole valuation issue.  I evolves around assumptions of adoption.  Given the current real world obsession with mobile payments, more efficient payment mechanisms, and fiat currency devaluation it is a given that cryptocurrencies are inevitable.  It goes without saying that financial services infrastructure will be built to lever BTC's competitive characteristics with the current payments  system.  Add to that the the 3 major economies of the world are in a runaway financial disaster (USA, EU, and Japan) there is really no other option than devaluation.  Hence, BTC as a usable currency or a valuable investment.

So assuming some type of adoption rate (I believe 10% is a reasonable number) then you can easily factor a valuation of BTC to the USD (assuming world currencies generally remain at their current relative value).  Currently there are approximately $22 Trillion USD in various parts of the money supply.  At a 10% adoption rate of the USD alone (The global fiat currency money supply is north of $100 Trillion), BTC would be worth approximately $100,000.

This website is non-functional.

Just invest directly in bitcoins.  Mining is tough and expensive.  $10,000 investment will not be competitive in the near future.

I highly recommend www.coinbase.com.  They are the cheapest by far (I believe .8% plus .15 ACH fee)

I have run and started commodity exchanges.  I am currently running one and would like to apply our technology and knowledge to bit coin.  There is a decent possibility we may be able to list futures and other derivatives around BTC and LTC.  Please whitelist me.

I would like to post generally.  Please Whitelist me if possible.  I have a 25 year career in finance and processing and am investing aggressively and substantially in bitcoin and bitcoin start ups.  This is a valuable resource that I can ad value to as well.

I would suggest the community develop standards for a "good business seal of approval" - particularly as it concerns transparency and responsibility.  While the anonymous feature of bitcoin is appealing in so many ways, it is not realistic to think that a currency can be successful in an ecosystem without trust and accountability.  If we are to develop legitimate financial and processing infrastructure, much of it will have to operate in a similar fashion to the bricks and mortar infrastructure we have built over centuries.

I am looking to make investments in privately held bitcoin enterprises.  Please reach out if you are interested AND willing to be transparent about your company and participants.

I would recommend more clarity on this restriction in the basic help sections.