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RE: Genesis Mining : Locking in gains from recent STEEM DIP buying.
for a noob like me, how does genesis mining actually work? do you stake some coins or something and buy hash power to it ? where does your money come from
You buy a Mining Contract and Genesis Mining provides the Location, Equipment, and Electricity. You mine a variety of cryptocurrencies for better or worse. Profitability of the contract will depend on current prices and mining difficulty. I suggest doing a lot of research first. If you don't have a lot of startup funds, investing your time on building STEEM power may be a better strategy to build up some crypto capital.