I'd like to make a solid plan so we can move forward... F4C3 are you developing this? MemoryDealers are you hiring somebody to do this?

Awesome to see so much enthusiasm! F4C3 do you have lots of experience in Magento? I would definitely match Casper's 10BTC for something the whole community would benefit from! (it would be my first transaction )

I know there are at least a couple other interested parties that MemoryDealers has contacted... Perhaps we can get a sizable pool together to really reward this being done perfectly? I think the most appreciated functionality for Magento would be automatic payment verification and invoice creation, pushing orders to ready-to-pack without needing to manually check receipt, just like a credit card or PayPal transaction...

I saw that there's a great script that pulls the 5-minute weighted USD exchange rate from MtGox—perfect for figuring out how to value the transaction in checkout! http://sanescreen.org/converter/

...and I was just shown by a programming friend that there is already a PHP API: http://www.nostate.com/3962/bitcoin-php-a-php-library-for-bitcoin/ — this should make it way easier!

As a designer I'd be eager to help make the interface the smoothest experience possible, and would be happy to create any layouts that are needed.

I don't have any experience with current checkouts (I'm going to go try some right now ) so I'm unsure how this would best work... Does anyone have some personal experiences they can share regarding current checkout processes with Bitcoins, and what would be best in a perfect world—from both a user's and store owners point of view?

Awesome; email sent!

Are there any others who might be eager to contribute to this project?

I'm really eager to get a full Bitcoin solution setup for my Magento store.

Unfortunately, I'm just a designer and probably can't be much help creating one; especially a sophisticated solution that would average exchange rates, automatically create unique keys, and notice when a payment is received.

Are there any others who'd be interested in this extension and might be willing to help get it developed?

The Magento userbase is huge; a well-made extension could really open a floodgate!

I just discovered Bitcoins and would really like to add them as a payment option for my Tie T-shirts – Formalitees Tie Tees
We're all about taking power back from bankers & politicians... so I love the concept of decentralizing and ignoring them altogether

It might take a little while to figure out how to fully implement this on my Magento-based store... Has anybody done that yet?
In the meantime, what would be the simplest way to get this going; just through email?