The big issue here is that it’s not clear that you need a blockchain for any of it. Economically you’re launching a Twitter clone with the intention of spending $1B on customer and content acquisition. The rest is details of how that’s budgeted.
The smaller problem is in those details—the scheme described is highly vulnerable to attacks like the following: I create a network of private bot accounts who post high-frequency generated content, and a follower account who follows them all and installs the browser extension. Whenever I want I can print money (well, Twitcoin) by uploading these fake hornet tweets to the new platform. I can think of ways to defeat this specific attack relatively easily, but I’m not sure it’s easy to defeat all such attacks.
The smaller problem is in those details—the scheme described is highly vulnerable to attacks like the following: I create a network of private bot accounts who post high-frequency generated content, and a follower account who follows them all and installs the browser extension. Whenever I want I can print money (well, Twitcoin) by uploading these fake hornet tweets to the new platform. I can think of ways to defeat this specific attack relatively easily, but I’m not sure it’s easy to defeat all such attacks.