The main issue with your thinking is the assumption that bitcoin is free of counter party risk just because you have the private keys.  It's not.  MatTheCat is a few Budweisers short of a 6pack and even he figured this out.  Holding a commodity form of money in your hand (generally noble metals) and defending it with an AR15 is really the only way to completely get out of counter party risk, as the bitcoins never actually leave the blockchain in the first place - an electronic amalgamation of a domain in which you don't really have any power over yourself.