I agree with you although I think the idea of backing HBD with some BTC as insurance was meant to be human free.
I believe it involved some multi signature account. I didn't follow all the details. These things adds complexity and larger attack vector even if it becomes completely based on smart contracts. A simple and efficient system with maximum decentralization is best. Currently there is nothing that can compete with HBD when you look for a simple decentralized algorithmic stablecoin. I like to stick with the KISS Principle :-)
!PIZZA
As I said on numerous occasions, could be a great investment for Hive to have $1 million in BTC. However, ultimately, we want to build the value of HBD through development of use cases. Then it can stand on its own as collateral.
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