One question, though, if i transfer 1sbd to an encrypted memo, doesnt who i send that memo to still exist in clear text?

Sure but you send the memo to @bid.bot and only @bid.bot will be able to decrypt it to cast the vote or the flag.

Wouldnt i only need to look on steemd.com/@bid.bot to know who uses the service?

Have a look there steemd.com/@bid.bot. You will see all the memos are encrypted :)

To encrypt a memo you just have to prepend #. Learn more here

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