And yes, it's officially a disaster.

So the Barclays Cycle Hire initiative has been officially launched, and I can't wait for my key to arrive. Here are the main cool facts:

• there are over 300 live docking stations with about 5000 cycles (including 2 stations right next to my place)
• pick it up anywhere, drop it off anywhere else, 24 hours a day
• if you use your cycle for less than 30 minutes at a time, it's free (you only pay the membership fee, which is £1 per day in a worst case scenario)
• the cycles are only available to registered members for the time being - casual use (aka "for tourists") will be available in the next month
• there are already at least two mobile apps available for both iPhone and Android

Here's the full story.