Anything that threatened its decentralization. The thing I worry about most with Bitcoin is its scalability, can it scale to become the base money for a global monetary system.

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Scalability is just a simple matter of building out the layers, which is well under way. Financialization (paper Bitcoin) WAS my biggest concern, but this present bonfire of paper Bitcoin and the weak cycle are extremely bullish signals on that front. Assimilation is failing before out eyes. Developer capture is the next biggest threat, but that seems to be getting cleaned up. Quantum FUD is totally fake and mostly just a symptom of developer capture. ECC has no appearant REAL threats and may well stand forever. Mining centralization is a concern. My guess is that great power competition will play out that drama over the next two cycles. I think the DigitalID panopticon locking everything down is our next battleground. Bitcoin won't mean anything if they can build a perfect digital prison. But if that happens, all is lost anyway. And I don't think it's possible because of elite competition. They will always want the system to leak for their own purposes. It's going to be a bumpy ride and a heck of a fight, but we won't give up. We are inevitable. Keep building the future, exit the system, keep your head on a swivle. We will win.
One thing that gives me hope… it’s the people’s money and we have some of the brightest people working hard to make this thing work