As I've stated many times before, the fagging system is the biggest negative on steemit right now. I have warned about the negative implications ( comments here )and they are in fact starting to show. I wholeheartedly disagree with the current flagging philosophy as put forth by Dan and others ( ( here ) ).
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Yep, flagging sucks. My feeling is that it's the road to mediocrity. As for an alternative set of "checks and balances", I have no idea, but surely there are enough innovators here to come up with something.