It’s a good idea, but your quote for time is significantly under the actual amount of time it would take.

Youtube is a complicated beast, video files can get really big and you’re going to want to be able to fast forward through sections which means you need to take the various video formats and wrappers (flv, mkv, mov, mp4, etc) and break them in to multiple, smaller pieces (since I’m fairly sure the alternative is the users having to download the entire video file before they can play them).

You’ll need to implement transcoding from / to: 4k / 1080 / 720 / 480 using something like ffmpeg, since people will probably want to upload in a high quality but those watching probably won’t want to (for performance reasons, or on mobile devices).

Honestly, this project will likely take a few months for an experienced developer, it’s no where near as simple as you think - huge companies like Youtube make the projects look easy.

The budget that you’ve quoted is also of concern, what is the budget being used for? Either the budget should be nothing or much, much higher. If the developer is altruistic and does it for free, the budget should be 0, if the budget is to actually pay a developer for their time, you would be looking at closer to 30,000 MaidSafeCoins for the time requirements.

To clarify

This wasn’t meant to be an indictment of your idea, or an attempt to negotiate on price (I won’t be submitting a proposal) I just want to make sure that we’re setting appropriate and achievable targets to try and stop us ending up in another N99-esque scenario.