@hilarski,
My personal view about JP Morgan is, he is a "duech bag" :D If he says BTC is a fraud, all banking systems are frauds and running on ponzi schemes! Just take a close look how bank function you can understand it!
Therefore, this is look like a thieve is calling others as thieves while he is still steal others funds or a scammer calls others as scammers while scamming our funds!
So, just forget what this "duech bag" said! I hope BTC will give him an a$$ kick sooner by finding a new peak!

Cheers and thank you very much for sharing such useful information with us!