Will i die camping in Iceland?

Hello! 22 f planning on going to Iceland in august to hike camp and hitchhike. I’m great with being out of my comfort zone however I am getting mixed reactions about the sanity of this excursion. I’ve done tons of research and recognize how extreme the weather conditions can get, I’m getting the hubba hubba tent, and have a good 30 degree sleeping bag and have all the proper shoes and packs and stoves and what not. I am not an avid camper or backpacker, but i really want to see Iceland, specifically for a lower cost and with the added adventure of having a tent. I feel like i know enough of the basics to survive, . Any comments/warnings/advice from people who have camped in Iceland?
Thank you!

Edit! Thank you so much everyone, now using a 20 sleeping bag and insulated pad. Also planning on spacing out the camping with hostels. Still on the fence with whether i should try out hitchhiking or rent a car with other tourists. I recognize how one includes way less sites in an amount of time and a lot of unpredictability, boredom, and walking, I’m okay with that. I also have money in case hostels seem like the better choice but i feel ambitious and excited about exploring the longer hikes!

Will i die camping in Iceland?