Welcome @sabinp, I appreciate you explaining your strategy regarding mining contracts, payouts and reinvestment. That totally makes sense and I've learned a little bit from you today.
I'm brand new to investing in crypto and have wondered about buying hash power for mining and how it works. Any other resources you could point me to?
Thanks! (from another one of those software developers)
Thank you, @britt.the.ish!
I did not expect this much appreciation from this many people. Honestly I was afraid of making a fool of myself by stating "obvious" things. I think this might be a very common problem among most people not only Steemers.
I personally mine on https://www.genesis-mining.com and trade on https://www.livecoin.net and https://poloniex.com/
Take action (start with small amounts) and take as many shortcuts as you can, but make sure they're not just some unlit side streets.
Do your research as much as possible. Follow more experienced people here on steemit or on youtube:
https://www.youtube.com/channel/UCHHtN4LNc34zswfKhvNgPLg
https://www.youtube.com/channel/UCCEVzoj5KQAZBmuHWH1GM1Q
https://www.youtube.com/channel/UC2L7yK17LXIOAs-zNmSspOQ
https://www.youtube.com/channel/UCdUSSt-IEUg2eq46rD7lu_g
If you have any other questions don't hesitate to ask!
Best wishes!