Well most people do have easy access to BTC. If they don't I doubt they would get into mining, let alone into mining ETH.
My point stands that people are better off just buying ETH right now from an exchange like Poloniex, then buying mining power with Genesis-mining. I think Genesis-mining should pass on more of their saving to their customers. They are keeping so much for themselves that their proposal just doesn't make sense for a customer anymore.
Completely agree with this statement. I used to be a solid supporter of Genesis Mining, but things just dont add up....
They certainly have to get the investment for the GPU miners / hardware. But there is an other point that is often overlooked. After Ether mining ends they will convert Ethash to X11 on a 1:1 basis. In reality the hashrate conversion is 4:1 because X11 is a more complex algorithm. So they give you 300% GPU power on top after Ether mining ends. This certainly has an impact on the overall pricing.