Yup. Two ways. The first is when you participate in a thread. You can either "follow" (under OF Ad in below screenshot) which produces notifications for specific threads or "unfollow" to opt out of said notifications.
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Or, you go to account settings and either check or uncheck those boxes.
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You will still receive alerts when people quote or like a post you make but you can turn off alerts for people just regularly commenting on a post you have participated in.
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