Yes, flagging is another name for a downvote, and it does take Steem Power. It is a transaction on the blockchain, just like an upvote. I am happy that there are no enforced rules for flagging, as it leaves it up to individual discretion, and the consequences up to the community (individual free market actors). That said, I agree, "you shouldn't lose out because of trolls."
You can see who has flagged a post by looking for the minus sign in the voter list, or checking your account here, at Steemstats. You can enter your account name and get loads of information on the transactions being made in association with the account.
Well, now @chelsea88 just flagged a few of my comments on this post.
WHAT IS GOING ON HERE?
AM I NOT WELCOME ON STEEMIT? LET ME KNOW AND I WILL LEAVE.
Hi @@@kafkanarchy84, I commented on this blog to talk about the flagging issue and now @chelsea88 is flagging my comments on this.
What is going on here on Steemit? This is nonsense.
Now I can't have an opinion or comment on a post without flag abuse?