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.