One could, for instance, use this as a blog. Seeing as posts can be far longer than 500 characters, I don't see why not. And with the RSS feed incorporated into the timeline, one could also just incorporate the feed into another blog and make it the way one posts.

It would be pretty easy to do.

I just have to add an upload image function for posts to really make it more complete.

For now, it should be fairly functional as a blog post timeline as well as a sort of social media posting place. Either way, it can be further refined for ease of use.