well gold can be filled with tungsten so it has "counter-party-risk" as well
That's not counter party risk, that's gold being susceptible to counterfeit. Something Bitcoin prevents.
i don't think Gold is dropping value because of Bitcoin. i think Gold is losing value because people are regaining confidence in Fiat/Stocks etc. silly humans.
Likely this. ^^ Just as when stocks and economy tumble people run to gold.