Given they announced Singles would be ready to ship in Oct 2011 and they didn't ship until Febuary 2012 and still have a 70 day backlog I think 2012 is optimistic.  They won't ship enough units (if any) in 2012 to bring in that kind of revenue.   Now 2013, baring some huge upset or new competitor they will be bringing in some serious coin (pun intended).

On edit:  I forgot their policy of collecting money up front and sitting on it for 6 months.  Yeah your right. 

No it is target difficulty.  Generally speaking longest == more difficult.  The reason why the network checks difficulty and not raw length is because otherwise an attacker could exploit the dynamic difficulty and pull off a 51% attack with <51% of hashing power.  For most intents and purposes outside of possible attack longest == most difficult but the code only looks at the sum of the chain's block target difficulty to determine the best chain.

Oops.

Wow.  This has to be the worst scam attempt since ...

Then when Bitcoin becomes a threat the banks lobby the US govt who links Bitcoin to terrorism and seizes the gold.  The seizure combined with the media reports of Bitcoin no longer backed by anything causes Bitcoin to crash overnight.

No I like decentralized just fine.  

Also the backing would be next to meaningless.

Lets be optimistic and say the backing entity got $100K worth of gold.  $100K / 21M BTC = $0.004762 (worth of gold) USD/BTC.

So instead of someone saying "I am not buying BTC for $6 it is not backed by anything" they will say "I am not buying BTC for $6 it is backed by only half a cent of gold".  If anything it could be a psychological anchor preventing BTC from rising further in value.

Update: finally shipped.

Ordered: 4/12/2012
Quantity: 1
Shipped: 6/20/2012  (69 days)
Delivery: 6/25/2012 ?

Any reason why the market depth screen only shows 5 bids and 5 asks. 

It would be more useful if put into separate bid & ask tables in column form which show price, size, cumulative size.

Someone has a good quote in their signature.  I smile everytime I see it but I can't remember who it is. 

Paraphrased and butchered it is the value comes from its utility.  It has value specifically because of what it capable of.

Sorry that is a load of garbage.
1) While you may have convinced your customers that week long delays are unacceptable on wires they aren't.  Due to your inability to get a wire done in <14 days I needed to have funds wired to me from my brokerage.  I requested a $20K wire at 8AM and it cleared by noon.  A week later I requested an $85K wire and it cleared within 6 hours.  

2) While an international wire may take longer it shouldn't be taking 19 days longer.  That is whole point of AML verification.  My bank account is AML verified.  My MtGox exchange account is AML verified.  How much investigation can one possibly due in 19 days.  You have my info it either checks out or it doesn't.  You never asked for more info to aid your investigation.  I mean how many times can you look at my utility bill over the course of 19 days?

3) If my funds are being held for an investigation (which I don't think they are) are employees of your company engaging in a criminal conspiracy here?

Note: this was taken from email between me & MtGox.  I would rather not share the original email (w/ personal and account information) in the open but if MtGox disputes this I would be happy to send copies to a mod.

Are you really advising your customer on how to avoid an AML investigation?  
Should the Japanese regulators be made aware of this?

I doubt your customer support is stupid enough to openly document a conspiracy to avoid AML/KYC procedures in a trouble ticket.  The reality is that this delay has nothing to do w/ AML does it?  Still since be both know this isn't due to any regulatory requirement I would be happy to use BitInstant (I hear they can actually payout funds they owe).   I don't feel it is fair to ask me to pay the $240 in transfer fees because you couldn't do your job.

Credit my account the bitinstant fees, cancel all requests and I will take my funds and not come back.  To tell a customer that they need to pay MORE in fees because YOU can't do your job is beyond insulting.

I can't speak for him but ...

In my case this is the 4th wire.  All exactly the same.  Same bank, same instructions, same account, same AML docs.
The first two went fast, third one took over two weeks before you even submitted it (and when submitted it cleared quickly in 5 days).
The fourth one hasn't been submitted yet.  

I am not sure if you know this but ... a bank wire can't be transferred if you don't give it to your bank.  That is kinda step #1.  

So the question is why are you intentionally NOT sending the wire instructions to your bank?

Dwolla?  AML/KYC?  Wrong instructions?  I say bullshit!  Hell they aren't even good lies.

You might want to recalculate that.  Technically we will never reach 21 million coins but it will be a lot longer than 15 years before the subsidy goes to zero.

The world ends. I guarantee you that you will be dead when that happens ...

Don't add too many decimals.  I hate fighting bots jumping 0.000001 ahead of me on Mt.Gox.  I think whole pennies are fine but maybe 1 more decimal place I hope you don't go more than that.  Like gasoline $3.499

If the asset is worth ~$5 then 0.001 as the min tick is 0.02%.  Anything smaller is just games.  It doesn't improve the spread in any meaningful way.

ASICs will render everything else obsolete in time but botnets (which are already horribly inefficient) will be killed overnight and that includes other forms of malicious CPU mining (rogue system admins, employees "borrowing" company resources, hacked servers, etc).

Which is why I don't see magnetic stripe being useful.  In a pin & chip system (Bitcoin or otherwise) the pin and secret never leave the smartcard.  The pin pad sends pin (hashed to prevent snooping) to the smartcard which verifies it and then performs some action on the secret only providing the output.

For Bitcoin the "secret" would be the private key or possibly deterministic seed for a range of private keys and the "some action" would be generating a signed tx.

Am I reading this wrong?  A pin pad that sends the pin as plain text to the merchant is of no value.  You just gave the merchant everything necessary to spend as the user.

That would be it.  We rode it out as long as possible but it has turned into a liquidity trap.  Capital goes in and gets stuck.  Even without the risk of insolvency (small IMHO but not zero) the delays are getting longer and the amount of capital idled keeps growing.  We can't continue to support that.

For some time now we have been accepting MtGox as a courtesy and then immediately paying MtGox to buying coins.

Yeah that probably should come down. We continue to accept it, but immediately buy BTC at market price and move off exchange.  It cuts into the margin but we have been doing it as a courtesy for some of our sellers while trying to educate them on the advantages of direct sales.  I am sure Mt.Gox loves it.  Double profit!

Update:  removed.  we will honor a couple trades still in the air but no new trades.

Which is why credit cards are resversible and have fraud protection.

We aren't ... anymore.  Just trying to get the last of our money out of here.  

We sell coins directly and use the exchanges as a backstop when our BTC position becomes too long for our comfort.   The funds being delayed, obfuscated, and lied about are only a fraction of what we purchased, thankfully.

Having a steady and discounted source of coins is part of a bigger plan.