What is the point of collateralizing my ETH to get only 2/3 of its current value when I can just wait for it to double its price or even be worth 1000 USD?
[/quote]This is more less how it works. As today the price of ETH is approximately $150, if you collaterise 1 ETH you will get the equivalent to $100 HyperDAO. With that amount you could buy 2/3 of ETH or 0.66 ETH. If market conditions are good, and in the future your ETH is worth 1000 USD, you will be the happy owner of the equivalent to $1600 USD, but you will have to return only $150 USD. Take into account that you may need to over-collaterise in case the market present corrections which may liquidated your collaterals. This is known as leveraging.