Is there a feature by which we can buy reputation on SO (e.g 100 rep for $1)?, or a bot by which we can hack and increase our reputation?
As a matter of fact you can. All it costs you is quality answers or quality questions. Heck, some people even do quality edits for reputation. Sign up now and we'll even throw in 100 rep when you associate your account on any other SE site if you hit 200 rep on any site, ABSOLUTELY FREE!
And yes that's the secret. Use the network as it's meant to be used.
It determines, to an extent, your familiarity with the site, the amount of subject matter expertise you have and the level of respect your peers have for you.
That would not work at all if you could simply buy reputation, or gain it through devious means (like using a bot).
So no, you can't buy rep, and no, you shouldn't try to game the system - that will very likely be caught (and corrected). Moderators and the site owners already have tools to deal with voting fraud and other suspicious activity.
There are drawbacks:
- We need people answering questions. You gain rep for answering questions and we need that motivator to get the answers.
- We don't want everybody being able to buy priviledges. That can lead to abuse and misuse.
- Reputation is also a trust indication. What sense does it make if you can buy it?
- This would also be unfair. We don't want that people with money are able to buy rep and others living in poor (countries) not being able to do it.
- Like @Servy said: If everyone can just buy rep to put up a bounty then a bounty won't be so special anymore. This feature lives from the fact that not everyone uses it.
A reputation market makes the voting system useless.– Tamara Wijsman
The meaning of up vote is that the question/answer is useful/constructive and useful in future. So the user up vote the question/ answer and the asker/giver get the reputation, so in that case the selling reputation makes no sense.
Bounties are more than an incentive to draw eyes and answers to a question. They are a mark that someone is willing to stake his or her reputation on the quality of the question and the desirability of an answer. It is a way of saying: In my professional opinion, this question has merit (to the extent that SO reputation indicates professional expertise).
Introducing money into the equation will reduce the weight of expertise. Help vampires with a pocketful of cash can place bounties on ridiculous questions that have been purposefully ignored by the community, thus reducing the overall usefulness of the bounty system.