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You can only publish about 4 times per day before you dilute the value of your upvote. So it is difficult for a whale to abuse this power.

Although whales will upvote their own Post, they generally don't upvote their own comments which they can do all day. If they did, they would be seen for doing it and confronted. If brought to the attention of somebody with a higher reputation than them, they can be warned against abusing the system in this way.

Whales are heavily invested in steem. The success of steemit is in their interests. It would be stupid of them to hurt the confidence of the community in steem by abusing the platform and judging by their success, I don't think they are stupid.

I guess that makes perfect sense ethically, but the excuse can't simply be that it's 'in their best interests' to act innocently within a fundamentally exploitable environment, audit-able or not, I've already noticed a couple bots being used for upvotes alone on content a couple whales care about because they don't want to over vote and dilute their value.

If you upvote your own post, and you have enough SP, yes.

Exactly, whales are whales because of their base mass.
The largest most reputable accounts have those most weight in the value of their opinions, regardless of how they got there.
I know there are whales that generally don't even upvote other people from their main accounts, can someone explain that part?

There are whales who don't upvote or post. They are investers just waiting for the steem currency to explode. Nothing wrong with that.

But don't whales have 'less' by giving out votes? Doesn't this discourage a large user from voting unless it's truly beneficial to themselves or not voting at all?

Of course you do people like me are shadowed I'm sure of it because I haven't got nearly any up votes for my stuff but people make hundreds just posting stupid mems or pictures off the internet onto a Wales post.