I know that you are trying to stop the spam but now all of the advanced editing options are gone and we can't post links anymore. I use links to avoid repetitive typing. This just about kills all of that.
It doesn't do any good to stop spam at the expense of making it difficult for legitimate users to use.
Every time I get a work flow going, everything changes and I have to start over. Very frustrating. Well formatted text makes it easier for the novice user to grasp concepts and we need more than smiley faces to do that.