Two biggest risk factors are:

(a) A major custodian (like Coinbase) is hacked. This could produce such a backlash that Wallstreet + Regulators came out and said: "Digital Assets are inherently incapable of being properly held securely in custody accounts" and that would effectively end most official support for it.

(b) Future code updates introduces a critical catastrophic bug that is exploited - imagine millions of coins either permanently lost or stolen. While this could possibly be mitigated via a variety of different ways, it may set back public adoption by a few decades.

There's no risk to bitcoin that isn't also a risk of new and likely violent dark ages. The only question is how much influence are people willing to pursue that timeline wielding?

Technical nits are ego driven virtue signals at this stage, few can accept that Bitcoin's destiny is well-beyond the control of advocates and developers.

Fear and distrust of government is justified, but the framing is naive to ignore what levers an evil (or simply self-interested) government has already chosen not to pull.

• There are state-level hardware backdoors in just about every laptop, phone, and server that could be programmatically exploited to start sweeping coin (as well as dragnet decryption of comms). This would be a nuclear option, effectively destroying the internet as we know it as hardware supply chains would have to be rebuilt over decades after the usurping power is otherwise contained. This could be more devastating in many ways than an EMP attack, depending how the exploits are used. The only deterrent is the desire for the state to sandbag these exploits for secret targeting of entities over time, and avoiding reprisal.
• [They] could also reveal that Satoshi was an O-Plan and some NSA think-tank controls 30+% of supply, not including rat-hole financial firms they also control. Unintuitively, this could be good too. It's either a white-hat op -> world reserve currency good result, or rat poison -> rug-pull bad result. If it went bad, there's ultimately no wealth except defensible productive land, and thus we accelerate toward a violent timeline. The deterrent for the bad outcome is again a reprisal response to the overreach, at the expense of the soft-control happy path.
• Deflationary collapse by simply stopping the money printers, allowing in effect triggering of a global margin call. Most all property would transfer to the creditor of last resort, the globalist bankers. It's just like Bitcoin never existed in that case because its just another way to disappear fiat. Same deterrent as above, people in the system not at the very very top would be unlikely to survive it.

TLDR; technical and cultural risks are illusory, it's in the hands of game theory.

1. complacency, a coma brought on by bitcoiners getting wealthy and lazy, undermining efforts to maintain the qualities that give bitcoin value
2. wrench attacks against bitcoiners without multisig and guns

• Major exchange hacks
• CBDC competition
• A mining pool or conglomerate of mining pools controlling 51% or more of the hashrate
• Bitcoin ETFs accelerating the subversion of Bitcoin by creating a larger attack surface for an executive order 6102 on Bitcoin

Home invasion and a zero day bug that renders the network obsolete

$5 Wrench

Miner centralization.

For Europe, a bad threat is still missing: ECB is progressing rapidly with their CBDC, the digital Euro. Over time, the technical capabilities and their political pull will allow them the de-monetise all Bitcoin on/off ramps in Europe, just like European banks have started to de-bank the accounts of bitcoiners and companies involved in bitcoin, on grounds of extreme bureaucratic overhead with any transaction even smelling of bitcoin. Sooner or later, the ECB will want to use this power to secure their Euro monopoly in Europe.

Miner centralization. A few companies controlling hashrate is a threat that concerns me. Which is already a problem. Just hoping the problem improves as more people adopt bitcoin.

1. not enough stackers to make it easier to live on bitcoin among zombie normies
2. governments becoming honest in more gullible people's eyes (i.e. better deceptions)

Zero

Oh that's easy. My biggest fear is that I'm too uneducated on the subject to even see a threat coming.

Bitcoin is an octopus with many tentacles. The more I learn, the more I realize that I don't know shit.

Non, really. We need to take precautions, though. Self custody and privacy are paramount, IMO.