Flagging is a lost cause. It's only a matter of time until apps start posting encrypted text in order to implement some sort of privacy scheme within their community. How do spam-fighters decide what to flag then?
The developers need to look into auction theory and use something like a second price auction to protect against abuse with upvotes only. If you model voting after the 2nd price auction, you'd throw out the highest vote when calculating rewards. That would force a bad actor to split their stake in half, which would limit the harm that can be done.
I think Google uses the second price auction for pricing ad-words because:
The theoretical nicety of second price auctions, first pointed out by William Vickrey, is that bidding one's true value is a dominant strategy.
Hopefully, a similar mechanism could be found where voting one's true value would also be a dominant strategy.
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Wow you actually made something original. I’m impressed. Funny how you think flagging gives me your steem though
Your posts are shit and zero original thought. But to answer your question, both my vote and the votes I countered go back to the reward pool for everyone else.
So a flag literally gifts two equal size votes to the reward to increase the rewards of all other posts.
If I flag $1 off a post, that’s $2 available in the reward pool to every other post and comment.
But costs me $1 worth of potential rewards I have to sacrifice. That is the opposite of greed.
Having a hard time with the truth I see. It's ok. Take your time.