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Just a thought, but I don't know about this one, because "Dislike" doesn't always equate to what some consider "Flag" worthy, and it was always something that bugged me with facebook until at least they more recently added a few more possible actions (ie. angry, sad, wow, haha, love). I'd like to see a headshake in there too.

But, for an example:

"50 dead in forest fire" ... Do you really want to "Like" this?
27 Likes - 599 Dislikes - 0 flags

Good point alex. Changing it to "upvote/downvote" shouldn't be that big of a deal if necessary I guess. Edit: Now included in the first comment.

I'm very positive to such a model. Good to hear!

Edit: See below possible issues with "liking" content.