U DONE GOOFED!
CONSEQUENCES will never be the same
I like the idea of a bitcoin mag. Problem is even Time magazine has been reduced to near pamphlet size and is still losing money. Newspapers aren't making money and cram ads on virtually every page almost on top of each other.
Should also be noted Vice magazine has scaled back publishing to concentrate on VBS TV and other projects. Publishing periodicals is doomed, unless it's some sort of corporate trade magazine with guaranteed business subscribers. 2600 magazine sold more issues the first month of releasing it to Kindle then they did in a year of publishing hardcopy. The *only* reason they have a physical copy is because of censorship laws back when Phrack was constantly raided/shut down by the Feds. Somehow printed media is covered under free speech laws whereas digital copies aren't. If your magazine won't be pushing the edge no point in printing it.
I also don't understand why you need Wired-esque extremely quality paper and publishing. A hackeresque mag like 2600 with full color cover and black and white everything else should be good enough. Vice Magazine originally was black and white with CMYK newspaper color until they could gather more advertisers to go full glossy, and they strategically dropped their free issues in areas advertisers want people to pick it up like hipster clothing stores, cafe's, bars/clubs ect. You couldn't go to a borders and get Vice it was too risky to sell.
Remember nobody buys magazines anymore. Even National Geographic is hurting.
People go to Chapters/Barnes & Knoble and just leaf through them and put them back on the shelf unless there's really something in there you need, like amazing code to build something awesome or unique copy you can't find anywhere else. Everything in the Bitcoin mag so far can be found with googling. Interviews are great, but won't sell.
I would run this as an innovative site updated as much as possible, and mass print free B&W copies with a color cover using ad revenue or crowdsource people to do it and drop them wherever.
YMMV of course. Maybe the first couple of issues will be a smash but I don't see anybody picking them up after that unless content is wildly diversified, and there's awesome amazing anonymity how-to's and inciteful anarchist mini manifestos to get people to respond. You could also try the 2600 method, advertising is free as long as you subscribe. Then every month you have guaranteed subscribers. Having guaranteed subscribers list is where the bulk of the business model comes from, with that you can get funding and a slew of other benefits.
Protip: If your country offers grants for unique publications I would go after them too. Canada you can $25k/month funding for nearly anything as long as there's some sort of Canadian content in there. Not that I want to kill your project just am playing the old man that is at the deserted gas station warning the new people that there's boogeymen up the road
Digital would be so much easier, cheaper, less stressful and sustainable. Cut out all the middlemen just upload your finished copy and watch it sell away, offer a print on demand if ppl want it. Your site could also do online casino and sports betting ads something you could get extradited and arrested for if you have some in the print version and ship it to US stores.