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Keep the tab open a bit. At first there are no downvotes but once someone does one you see it:

I guess I have to have some Text on it to tell new users that they have to wait a bit ^^

@reggaemuffin pardon my ignorance, I am new around here. Why does a person down vote a blog and second how it it done? there is a flag in the corner. How does that help? I know these queries are already answered multiple times elsewhere in steemit. But just that I was here, I thought of seeking answers from you. Thanks for your time.

The flag is exactly the downvote button. It works reverse to an upvote and once a post or comment has more downvotes than upvotes, it gets hidden. So this tool shows downvotes and people can look into it to decide if they want to f.e. upvote it to stop good controversial content from being hidden.

Never stop asking questions :)

@reggaemuffin, that's very kind of you. I just checked that my upvote has a teeny weeny power of $0.02. that's pretty cool.

Now, How many times can i upvote a blog or comment?
it is in percentage. How are these allotted and what is the duration?
when will this power deplete and how can I know about it?
when will my power be again to full once it is diluted or depleted?

How many times can i upvote a blog or comment?

You can vote for each blog/comment (they are technically the same) only once, up or down. Voting a second time means overriding your first vote. You can scale your vote from -100% to +100% (and remove a vote by voting 0%)

when will this power deplete and how can I know about it?

Voting ±100% will cost you 2% voting power. You start with 100% voting power and each day you get 20% back if you used it. So you have 10 full votes per day. If your power gets to f.e. 50% your vote will be worth 50%. And you will only loose 2% of 50%, so 1% voting power.

@reggaemuffin thanks, I understand it very clearly. All these days I was holding back my upvotes not knowing what to do about it. Now I know. I can upvote some new blogs who need some encouragement. though it is only $0.002 and it is symbolic. But still they will be happy that someone read their blog and is happy with it. It helps a lot to boost one's morale I guess. so I will vote every worthy blog that I come across.
Feeling good already :) thanks.

I can recommend https://www.steemnow.com/ they show you your voting power and how much one vote is currently worth. Cool to track your progress :)