Is there a desire for a Web based Book Convention?

I've been seeing all these amazing conventions the last few years. Conventions that make me jealous of those that are there because I want to be there. I see all the fun and desperately want to be involved. But, I just don't have the money. To pay for hotel, food, travel expenses, and the ticket to get in. It's way out of my budget. Sadly this year, I have to pass on attending a convention I've attended for the last several years due to lack of monetary. I will not be attending Balticon this year. I do hope to get back on track next year.

So what about the many of us sitting at home wishing we could attend a convention? Meet authors and talk with them. Meet new authors and readers. It's always fun and entertaining. Couldn't there be something for us?

I'm thinking I may not alone in this thinking. Also there are authors out there that can't make it to conventions yet too.

I have a crazy thought I'd like to run by you all.

Here's the big question: Is there a desire for an internet based book convention? 

Now I'm a fantasy/urban fantasy/science fiction reader so I would primarily focus in that area. But the range of books that are included in the vast realm of fantasy is huge, including romance books and so much more.

Why couldn't we create something like this? In this day and age with the technology we have I think it can be pulled together. But with the right people thinking behind it to make it work.

There could be panels scheduled for four or five authors together doing discussions, just like at conventions, through Google chat or some other viewing system. The nice thing, you can watch live or watch later. Maybe post questions live for their question time or post questions later that the authors could come back to and answer later in comments in the convention time frame.

Of course we wouldn't get to sit at the bar with the authors but maybe there could be scheduled author times where people could post questions for the author to answer or they could talk about their books. If you'd like autographs, authors could have book plates they could personalize and sign and send to you, if they are up for it. Maybe live interviews by readers and bloggers of authors they are fans of.

There are so many different things that can be done to connect via internet these days. Why not take advantage of it? Authors and readers from over seas could easily interact too!

I think this would be a great way to interact with authors we love, meet new authors, and learn so much more!

Would bloggers, book fans, and authors be up for something like this? It'd be a ton of work to set up at first and several people would need to work together to get this done. But it's a thought. Maybe there would be a minimum charge of $5-$10 or something to join the convention, that way the costs incurred to do this will be covered. Maybe for the entrance charge you could get swag sent to you? (That would all pend on shipping costs.) I don't know. Maybe a free ebook for the day? Or giveaways. As at conventions, sometimes you get these or purchase books at deal prices.

What do you think? Any ideas?