The department keeps arguing against bitcoin with these points.
1) Bitcoin is deflationary and it will cause it to fail. (facepalm)
2) Bitcoin is doomed to fail because people hoard it instead of spending it. No Economy exist.(facepalm x2)
3) Nobody uses Bitcoin for anything (Not Mainstream=Not real???) (Facepalm x 1,000,000)
Replace those "bitcoin" words with "gold" and turn it back to them
To be honest, all the professors I knew in my economy department are just not able to understand it.
The real problem behind the scene is: When they hear the word "money", they become panic and lost most of their ability to think, they start to seek some powerful forces that back it, without that force, they feel extremely insecure about its value