Just curious if my competitor can harm me, its the reason I'm not using hub and squidoo, but if I use blog, can they report me and take my blog down, and if suppose I spam, can they still knock my blog down ?
huh? what's your logic in that? How can they harm you on hub and squidoo? and what do you mean by 'spam'? keywords, email spamming, etc??? your competitors can't do anything to your rankings, and google will only penalize your site if you use blackhat techniques: http://www.google.com/support/webmasters/bin/answer.py?hl=en&answer=35769
Why would you want to spam in the first place? (Or did you mean "if my competitors tried to spam other sites using the link to my blog..."?)
Yes. Your competitors can report the site. Blogspot will send you a message asking you about your site.
If it's reported and Google disables it, a human will take a look and see if it doesn't break the TOS and re-enable it again. No worries.
Additional question to all. I have a site, and I have a blogspot blog. The blog has a sitewide link to the site. Will it hurt me in anyway? The blog is legit. No scrapped content, all original and very informative BTW.
If you do nothing wrong, there's nothing you shall worry for. If you did something wrong, you shall worry for everything including reports from your competitors.. Spam doesn't seems like the right thing to do though...
every blogspot blog has a REPORT option on the top. if you are spamming, then anyone can just click and report and your blogspot blog might get suspended.