Block users from following or commenting
As an alternative to private accounts, allow users to share publicly but block others from following or commenting on their items.

This has now been released. If you go to your settings, you can choose to protect your shared items. If selected, you must approve all new follow requests, and your shared items will not be available to anyone except your followers.
If you “like” a post, your name may still appear on the post for all users.
Additionally, any existing followers can be removed by going to your followers page.
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We've looked into this further, and don't believe that what you're saying is the case. The non-friend of the private user will not see anything that suggests the post originated with the private user, and will also not see the comments on that item. When a user shares, a separate "thread" starts for the new share.
Now, if that private user comments on a public user's shared post, that comment will be public.
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No need to create a new request. I think this might just be an oversight on our part in the feature. We'll investigate further.
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Garrett Guillotte commented
(Namely, it looks like if a public user reshares a private user's shares, it exposes the private user's association with and comments on those shares.)
It sounds like user comment fragmentation (like, well, the old Google Reader) would help with this.
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Garrett Guillotte commented
Going private on The Old Reader apparently doesn't always block your shares from other Old Reader users.
Should I open a new idea to block users from viewing shares, or at least your association with a share?
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Garrett Guillotte commented
HOORAY