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Once you reach the daily reputation cap of 200, does the remaining balance of earned reputation apply to you the following day or is it ignored altogether?

EDIT: After reading Charles' answer, my question would be, why do we have this cap? Say someone is incredibly active on UX.stackexchange once or twice a week, answering multiple questions and giving good feedback, why would we penalize them for condensing their contributions into a constrained time period? What are the benefits of having this cap in the first place?

SECOND EDIT: I read this What is the reasoning behind the reputation cap? and now understand more.

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It is gone. It wouldn't really be much of a cap if excess is carried over from day to day...

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  • I thought it may have referred to a cap for the amount to be added in a day, with the remainder being added the next day, maybe as a holding period to prevent voter fraud or something. Like if someone got 500 in one day, one of the moderators would investigate it and make sure it's legit. – Matt Rockwell Jun 16 '11 at 15:49
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    I think there should be better ways (as @MattRockwell suggests) for handling this. Is the goal to discourage people from answering questions? I doubt it. Then it should fall to some level of flagging for moderators to check if there is a lot of voter fraud. Not good game dynamics like this. – JohnGB Sep 29 '11 at 20:35

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