There is a flag functionality in steemit that decreases rewards. It is the opposite of the upvote button which increases rewards. It is called differently in different sites built on top of steem blockchain. For example, in old busy.org interface, that function was called downvote. In the new, it is called report post.
This button is often used for payout disagreements even if the content is well written. So, all the posts getting this aren't flaggable posts. So, I think there is no need to called it a "flag". Calling it a downvote makes more sense to me.
The button is called a downvote in the steemd.com block explorer.
I think this should be the standard. Otherwise, new users might get confused about the different names. Where to place the button? I think it should be added right beside the upvote button.
Another option would be adding it in place of the current flag button.
Open Source Contribution posted via Utopian.io