"The new social media site I'm working on will run completely independent of hosting companies, ad networks and payment providers. It's decentralized, by the people for the people," Dotcom declared. "Volunteer moderators will work together to keep it free of scams and crimes. Free speech guaranteed."

"The new social site will allow users to remove nasty comments from their comment feed… Upload videos, photos, files without size or playtime limit," he continued. "Report spam and scams and volunteer moderators will look at it within 60 seconds… Volunteers earn crypto!!! No censorship! No bias!"

Dotcom then took a shot at Twitter's technology, posting, "The more I work on this the more amazed I'm how Twitter got so big. Lazy programming, many limitations, lack of housekeeping features, slow response to spam and scams, limited statistics, poor comment control, crashing apps and lousy privacy protection. Rescue is on the way."