Interesting thought and yes the reputation system is really flawed. I'm just glad I haven't paid a single bid bot to get to nearly rep 70 (it is possible).
I can see exploits happening with the rating system you propose such as rating farm accounts that can get paid to alter ones rating. A bit like what happens with FB reviews as you have businesses set up to give 1 stars and it has destroyed business (sadly).
I just wonder if it's possible for the current reputation system to be based on a combination of factors such as upvotes received, comments received, resteems, replies and conversation thread as that would be a mark based on already existing information in the database and wouldn't require users to leave feedback?
Thank you for your support and your comment. There will always be ways to exploit the system, but I think the three items I discussed (expiration of rates, filtering with a blacklist, and requiring of a comment) will reduce both the likelihood and the the impact of a lot of these types of attacks. It would definitely require some flexibility.
I think the User Authority (@steem-ua) uses an algorithm which takes into account some of the things you mention, which is also a great avenue to include. Perhaps the end state would be a compilation of all three scores. There is also a 4th score with @steemchiller's voting CSI score.
One thing to consider is that user feedback offers some qualitative analysis which can't really be represented in the numbers. A person reading the rates left for a specific account can gain a better understanding of that account's presence. Thanks again!
You're welcome man and I agree too that a combination of different things we mentioned would be a better way of doing it. Something that asseses multiple variables always helps to build a better picture 🙂
User feedback and social proof are vital for businesses and have quite a strong influence when you use sites like Amazon for example. When you see more reviews and star ratings it might sway your decision to go for them vs another seller.
Food for thought