On: El Salvador makes Bitcoin legal tender

[warkdarrior]

> With cryptocurrency, anyone can transact the real thing. There's no counterparty risk.

This only holds true if there was only one cryptocurrency in the world and everyone used self-custody. As soon as you have multiple cryptocurrencies and multiple networks and multiple wallet providers, you have counterparty risk.

Coinbase may not disappear, but others may. Similar for Bitcoin etc. etc.

[rahimnathwani → warkdarrior]

> "if ... everyone used self-custody"

I said 'anyone can', not 'everyone does'.

> "disappear, but others may. Similar for Bitcoin"

The risk of the bitcoin blockchain disappearing, and your BTC holdings thereby becoming worthless, is not an instance of counterparty risk.