Can this copy mechanics like bloodthirst?
Yes. Abilities that start with "at", "when", or "whenever" are usually what youre looking for.
In your opinion, what's the best ability to use it with?
In standard?
In limited i would say {archeomancer}
Standard {thragtusk}
Modern if you really want to try it then the titans would be my pick.
Commander there are tons of applications.
I was thinking more of a deck around it or something. There are so many things you can do with this card, so I guess I'll just have to figure them out on my own
I dont think there are any triggers that are powerful enough when copied to be worth having this card fill up slots.
Read this article
http://www.wizards.com/magic/magazine/Article.aspx?x=mtg/daily/ftl/255
Edit: I want to pull off my own shenanigans like these
I'm only using the article to show it has potential. I'd just like to know what my options are with it
Not bad. The doubling effects are a good target for sure.