I actually think, theoretically, it can be done, even long-term, but you have to be playing against awful, terrible opponents every single time you play, which is practically impossible.
Over 10,000 hands at .50/1 I was -.01 BB/hand from the small blind:
If you're getting bummed out by that red number, look to the right at how much you would have made if you didn't have to post the blind. In my case, I was winning +0.28 BB/hand from the blinds, but because I had to pay them, win or lose, I wound up in the red, as everyone does.