1. That it actually is a big ponzi (although not one made on purpose by one or multiple people, just an organic one) and that I am the exit liquidity
2. That decentralization isn’t actually wanted. And that all the other solutions blockchain provides are solutions to problems blockchain created.
3. My biggest fear is that Bitcoin’s biggest strength is also a weakness. It is amazingly hard money and therefore a great store of value. However, because of this, nobody will want to spend it, and because it isn’t being used as a medium of exchange, it will fail.
4. My fear is that there won’t be any groundbreaking adoption and crypto will just be old useless tech after 20 years (~2029). People will lose interest and it will end up like the once so expensive limited phone cards people collected in the 90s/0s.
5. My biggest fear is USDT and when that thing goes down, it will take entire ship with it.
6. That it really is just a rehash of the tulip mania bubble 400 years ago, but we can’t see it right now because we’re in the middle of it.
7. My fear is that it is too inefficient to develop applications using cryptocurrency, because the deployed version must be perfect, without errors. Any error can result in the entire platform being drained of funds. Transactions have concrete finality. Humans do not have the ability to create perfect code. It’s not just code either, but the mechanics of the platform that can be exploited. There will always be exploits, and these exploits result in very significant losses through time. They also prohibit developers from moving quickly, meaning progress is very slow.
I find it similar to climbing free solo. A single mistake and you tumble to your death. So any major ascent requires perfect precision and tons of practice. It’s no surprise that free solo climbs are much lower in difficulty than tethered climbs. There’s an Oscar-winning documentary made about Alex Honnold climbing El Capitan free solo, and many see it as the most impressive accomplishment in climbing.
8. That it will be regulated to death. That lawmakers will continue to misrepresent the purpose of cryptocurrency, and push regulation that punishes individual investors rather than the predatory financial institutions that seek to make a quick buck.
9. My biggest fear is that bad actors will precipitate regulations that harm innovation and progress for the entire crypto industry.
10. Fear of losing everything I’ve been saving up for years.
