Where an idea comes from has no bearing on its validity. Bicycle mechanics invented the airplane, university professors & other "experts" said it was impossible & attacked them in news papers for even trying. Reality is always the final arbiter.
Institutional "authority" is actually a meaningless social construct.
Additionally, the pareto principle always applies to all things & at all levels. 80+% of experts are wrong about major things in their own field. This is basically true of all people in all fields at all times.
Progress comes from individuals & tends to spread slowly, & is often even attacked by the majority of "experts" who have built careers on the wrong ideas.
Economists have attacked #bitcoin because it disproves their dominant monetary theories. Even many Austrians who should be better able to understand bitcoin have been fairly slow to accept it, despite many early bitcoin enthusiasts being heavily influenced by the Austrian school.
Today a PwC director informed me via zoom albeit bitcoin’s recent 100k surge, he didn’t foresee “crypto” disrupting financial products anytime in the near to medium term.
