I think my first thought was that it seems a lot, but at the same time, there is significant work involved in getting this set up, so if that's is what is needed then that is what is needed.
It's a bit of a catch 22 isn't, you need a certain figure to at least get started, but that figure may put people off.
I haven't completed a project on StartJoin, so I'm not even sure if there are limits on what you can request the funding level to be?
Perhaps as part of your campaign page you can give detail of the different levels of funding and what would be achieved maybe?
I wonder whether getting a successful initial crowdfund is actually more important that trying to get the "whole" amount first time round?
So, just thinking out loud here, maybe you could put a "minimum" of $1000 (as far as I am aware campaigns can be "over funded"?).
In your campaign page you can put some detail e.g
1) $1000 funded = basic working home page but no hardware, a further campaign for hardware will have to be created
2) $2000 funded = homepage with referral system and 6 mh of hosted mining hardware
3) $3000 funded = homepage, referral system, multiple payment options and 12 mh of hardware
4) $4000 funded = as 3 but with 30 mh of hardware
5) $5000 funded = as 3 but with 60mh of hardware & Android App
It might be worth going into how much is going to be re-invested into more hardware, where the hardware will be hosted etc
Don't forget, "idle" equipment can always be rented out on the various rig rental sites??
Thanks for your helpful advice. When establishing the campaign, I will first start with a target goal of $1000 and as long as it gets there or more than that it will be fine for our project. If it surpasses the $1000 mark, then I would be able to install big nodes as well to support the MUE network. Getting 8 connections or less to the MUE network is not enough I think since most alt coins have at least 10 or more.
I have been quiet for quite some time, but it doesn't mean that MUECloud is not going to become a reality. It is just that I have been busy working with college stuff and whenever I have free time I will continue to work on it.
After the mining equipment and everything had been established, I won't have to worry much about managing it and college at the same time since I will then have several partners working with the payouts and other stuff related to MUECloud.