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[–] lawofchaos ago 

Possibly even instead of it working with karma decay it could work with tiers. For example you have three tiers, each independently ordered by the amount of upvoats. The first tier which has overall priority for being on top can be for posts from the last 24 hours or whatever. The second tier which has the second highest priority can be for posts from a day old to six months. Then the third and last tier which of course has the lowest priority can be for all the posts older then six months. This way we still get an accurate view of how popular something was when it had it's time without any karma decay, no matter how old it is.