I really needed to read this, thanks. As a new user to steemit (aged 10 days) I have come across other new users with similar complaints that you've pointed out here regarding rewards. While some of my posts are only generating between 2 and 8 cents, it is important to understand that as a new user with next to 0 followers, there will be some hurdles to cross in order to get noticed. As for putting too much effort in, absolutely! You always have to put in 110% in everything you do. This is what will build an audience for you, and while you might only be making 8 cents a post now, as you gain more followers, you will get more exposure and thus higher rewards for your posts. Not only that, but regarding @timcliffs point about 1 pennies worth of BTC in 2010 is now worth $150, the 8 pennies I made on my last article could be $80 within the next few years. People buy because they know it'll go up. I plan to hold as long as I can and together we can all make the value of steem go up. I see new users joining every day by the dozens if not hundreds. If anything, STEEM is getting quite a bit of recognition and that alone increases the value of STEEM.