The problem with the reputation is that a single negative rep will drop you tens of millions of points. There doesn't seem to be any point to that.
Why not use a weighted system like digitalpoint where it not only costs rep to give rep but each rep counts for +- 1 point for every 100 points of repuation you have?
Why not use a weighted system like digitalpoint where it not only costs rep to give rep but each rep counts for +- 1 point for every 100 points of repuation you have?