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I'm a bit confused. Who can vote something down? I don't have a down vote button and thought only moderators had one or something like that. How does that work?

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I believe if you have over a certain number of points you can downvote items

From the FAQ:

Why don't I see down arrows?

There are no down arrows on submissions. They only appear on comments after users reach a certain karma threshold.

The threshold being 200.

that may be the threshold now, but it almost certainly won't stay there. pg regularly increases the thresholds, to account for 'karma inflation.' so it's a good idea to quantify numbers, if you give them, so that people don't google them up in the future and come to mistaken conclusions.

Yep, I had downvote access for a while and then it passed me by... story of my life.

There's a karma threshold.

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