Q:

I want to make a user community (with posts that can be liked), what software do I need? 

I want to make a site that can carry out most of the functions that the site descriptionari.com has:

A front-end user registration system, complete with email validation, profile pages, etc. 
A feed system which lists the latest posts made by users. 
The main feature, which is that users should be able to post paragraphs that are displayed in the aforementioned feed system. 
A 'like' system. 
Users should be able to gain priveleges based on things they have done, and likes they have earned from the aforementioned 'like' system, eventually earning moderator privileges. 
The ability for users to "follow" other users. 
A notification system

Essentially, I want something like this:

I thought I would build it from scratch using HTML, CSS, PHP and SQL, but that didn't work so well, and it requires immense amounts of skill, which I don't have.  I thought I could make it using WordPress considering that it requires no coding skill, but it turns out that only applies for blogging sites, and no plugin exists that can satisfy my needs (apparently). 
tl;dr, I ask for three things:

What resources do I need to make a system such as the one above?  What do I need to know? 
The system I have proposed is vast.  Which specific component do I begin with? 
Can I even use WordPress to build such a site? 

A:

BuddyPress , made for WordPress, may do most of those things for you. ( I have not used this system)
Full Message Forums can do everything you want with add-ons or plug-ins. 
SimpleMachines is free and can do everything you want (with Modifications) I have used this system for years.  It is easy to install and update. 
Invision Power Services Is a commercial (paid) system that will also do what you want. 
With Themes, you can change the appearance of each of these systems. 