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How can we report? Like "BR" style: "I report U"

I believe those with high karma can flag submissions

We can & do. Yes, this is a lot.

Yep, the threshold is something around 250 points, iirc. I wonder what threshold the downvote ability carries at the moment.

I think I recently saw something mentioning that it was at 100

100? Can't be. I'm at 314 at the moment and cannot downvote, yet I can flag posts...

http://hn-karma-tracker.herokuapp.com/ says the current limit is 500, with about 11% of users having downvote privs.