We hit the 6 levels of comment nesting, so I'll reply here.
The Steem White Paper does talk about this in the "Rate Limiting" section. "Through rate limiting, stakeholders who vote more frequently have each vote cout less than stakeholders who vote less frequently." It doesn't specifically say what the limits are, but the graph shows a fairly dramatic drop if a lot of votes occur within what looks like the 24 hour mark.
this post, it says pretty much exactly what I said here. In this highly rated article, it also says the same thing under the "Vote! Vote! Vote!" section.I have come across the explanation for this in a lot of posts. In @fbdan's comment to
I am not saying I am 100% certain of this, and I would be willing to admit that I'm wrong if I could see evidence showing it works a different way, but in most of the material that I have read about how voting works, it explains it the way that I am describing here.
The graph in not good anymore. This was the old version. Now every time you vote your voting power goes down .5% and slowly get back to 100% in 36 minutes.
You should read the ultimate guide par1 and 2 if you haven't. Good luck. www.steemwatch.com brought me here.