For those asking why I am thinking about setting up my own Mastodon instance: it's because I would like to have a permanent identity linked to a domain I control, as opposed to being on a specific random instance I might want to leave later, thereby losing my identity/established network.
@buzz I wanted to “own” my own content and identity too, and solved the problem by setting up a WordPress-based microblog that syndicates/crossposts to other platforms. So anything I post to microblog.dazeend.org (the permanent record that I control) is crossposted to Twitter and Mastodon.