Disagree. If you use it as collateral, you can't or shouldn't then spend the collateral. Anyone lending will want assurance that you don't lose the collateral, which is why traditionally collateral has either been temporarily forfeit or can easily be seized. Collateralized bitcoin services typically tell people they can hold their keys. Well, now you're at a fork in the road - either its spendable p2p or its not. Bitcoin has the potential to end usury and restore equilibrium to the supply and demand curves (both usury and inflation shift the curves and cause mispricing, which has a cost **_in human lives._**). Go that route. Fix the damned money. This collateralized btc usury shit is a pied piper and will ruin the whole project.