Who has the other two? My ideal situation is one to me, one to the lender, and one to a legal 3rd party arbiter that is obliged to sign alongside the prevailing party upon breach by a party.

— I fulfill the loan payoff?: I get the bitcoin with lender sig.

— I repay with collateral?: lender gets enough coin to fulfill balance by my sig.

— Breach of agreement by me?: lender gets the bitcoin by 3rd sig.

— Bankruptcy by lender?: I get my coin immediately by 3rd sig.

Lender has no means to move coin unilaterally. This seriously reduces attack vectors and makes me feel okay with loan collateralizing with Bitcoin. It’s scary otherwise.