Not if you are voting every day, I think you would need at least 14 days of buying to reach a moment when you can get 200 a day from rewards without having to spend money. I really haven't done the numbers but don't you get in liquid Steem a the most 50% of your rewards?
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The point is people who buy votes get there money back. Even in the extreme example of someone promoting post 200$ every day, they still don't lose ROI and will eventually hit a point of being able to recycle without needing to buy more Steem. So yea, it may be a short term price increase but that is it, and when the person is done promoting steem, they can dump all the funds they used to buy votes back on the market. Free advertising dosent work well in the end.