The more usdt are being issued and the more bitfinex liabilities (as finex usd running in bitfinex exchange) then the more the total marketcap of all cryptos arises.

The problem is that usdt(tether) is not redeemable directly for real usd. This can be seen from the total supply of usdt. If usdt was directly redeemable for usd  there would be random decreases in usdt supply. Instead there is only an exponential increase of usdt supply.

https://coinmarketcap.com/currencies/tether/

So when someone has usdt and wants to withdraw real usd, he has to  buy first some cryptocurrencies and then he must exchange the cryptocurrencies for usd in a crypto <=> fiat exchange and afterwards to withdraw the usd to his bank account. So real usd exits the system but usdt is being kept into the cryptomarket giving it a faulty inflated total market cap. You can compare it with some countries with hyperinflation  which causes the prices of goods to skyrocket.

What is the real total marketcap of all cryptocoins?
A rough estimation would be bellow.
Lets say:
T= total usdt issued (Tether)
F=total finex fiat liabilities
U= total real fiat kept in crypto<=>fiat exchanges like bitstamp, gdax, gemini ,ect.. and supports the prices with bids in the orderbooks

If    A= U / (U + F +T)  ,    A=(total fiat) / (total fiat +issued usdt + total finex liabilities)

Then the REAL market cap of all cryptocoins should be  A x current total market cap = A x 250B $ at the moment
Taking into consideration the fiat sitting in the orderbooks of fiat to crypto exchanges (assuming that are legit exchanges) a rough estimation would be:

U =400M
F= lets say 300M (total finexUSD in the accounts of finex users)
T=640M
 =>
A=0.3

In conclusion REAL combined total market cap of all cryptos should be  A x 250B$ = 0.3 x250 =75B$
For example if tomorrow the supply of a fiat currency doubles in a country then we expect the prices of goods to double as well.
The biggest risk right now is taken by usdt holders, long term investors and bitfinex users

The problem is that usdt(tether) is not redeemable directly for real usd. This can be seen from the total supply of usdt. If usdt was directly redeemable for usd  there would be random decreases in usdt supply. Instead there is only an exponential increase of usdt supply.

https://coinmarketcap.com/currencies/tether/

So when someone has usdt and wants to withdraw real usd, he has to  buy first some cryptocurrencies and then he must exchange the cryptocurrencies for usd in a crypto <=> fiat exchange and afterwards to withdraw the usd to his bank account. So real usd exits the system but usdt is being kept into the cryptomarket giving it a faulty inflated total market cap. It is the same thing as hyperinflation causes the prices to skyrocket

I want to share something in case the developers are not familiar with the subject.

I came across waxtoken which promises to be a decentralized exchange (DEX) platform for skins. I read the white paper and the project is very complicated and i think it is just an imitation of skincoin except from the aspect that it is going to use a DEX instead of a centralized exchange for skins supported by skincoin like steam.trade

There is also a new development of a DPoS system called EOS (eos.io)
which has the potential for someone to build on it decentralized apps.
So, taking into consideration the developments around skincoin that have already been achieved, why not try to build the apps that support skincoin in a decentralized way by using EOS technology?

A big effort may be requested by the skincoin developers for this though but it will probably worth the try because you can make unstoppable dapps and the EOS platform does not charge for transactions which is way more better than using ethereum network which charges you a lot of fees.

In case that dapps like skincoin.trade can be build in EOS then
the next step is to transfer the skincoin tokens from the ethereum network to the EOS network.
This could may be done by making a smart contract in ethereum that locks/burns skincoin tokens and then by taking advantage of interchain communication of EOS using an EOS smart contract, issue new skincoin tokens on EOS blockchain.

Just watched this billionaire talking and saying bullshits and i can not figure out how he became a billionaire with this kind of reasoning that he has.

https://www.bloomberg.com/news/videos/2017-11-21/bitcoin-ends-year-at-10-000-says-mike-novogratz-video

Anyway...what i noticed from the video (link above) is that he is talking about his investment in waxtoken which is a fucking  imitation of skincoin.
https://www.waxtoken.com/

Tether is a scam
Bitfinex is also a scam. Do not believe anyone that says the opposite.

Bitifinex has serious problems so no fiat deposits and withdrawals are possible. That makes it a crypto to crypto exchange and any finex-usd credited in a bitifinex account is pure air not even thether (usdt). If someone sends cryptos to finex and sells for finexusd the only way to withdraw the finexusd is by buying back cryptos at higher prices probably. So finex has the potential to manipulate the price of btc and other cryptos because finex has an infinity amount of finexusd that can use to stop a dip or increase the price of any crypto that supports (manipulates in any direction in my opinion, most probable upwards).
Tether(usdt) is used for making some withdrawals out of finex possibly but is also used by other exchanges for market making in order to follow the prices that finex make for the cryptos that supports.

If usdt is not redeemable for real usd then it does not mater if there are 670M usd sitting in several accounts. THIS IS NOT BACKING USDT BY REAL USD.
Assume that someone makes an arrangement with a bank to lend him some millions of usd without even moving the funds out of the bank and this person then issues usdt and makes huge profits and pay back the bank's interests (5% at most per year, nothing compared to the potential profits) then this does not make the usdt backed by usd because if someone owns usdt can not redeem them for real usd directly but has to sell the usdt for some other cryptos and then sell the cryptos for fiat in fiat<=> crypto exchange.

In conclusion:
1)the tether/finex scam has issued 670M usdt that the majority thinks wrongly that can be redeemed for real usd
2)finex has issued finexusd in order to keep the exchange running
In my opinion these actions have the result that the total market cap of the btc+altcoins has been inflated with more than 100B $. When finex and tether stop operating firstly a very short uptrend will probably occur by people starting to sell tether for cryptos then a long term down trend will occur because there would be no finex to absorve the panic sell and to support the inflated prices. A long term correction of 60-70% is very possible.

Stay away from Bitfinex, Tether(usdt), Poloniex, Bittrex and any other exchange that uses Tether (usdt)

Tether is a scam
Bitfinex is also a scam. Do not believe anyone that says the opposite.

Bitifinex has serious problems so no fiat deposits and withdrawals are possible. That makes it a crypto to crypto exchange and any finex-usd credited in a bitifinex account is pure air not even thether (usdt). If someone sends cryptos to finex and sells for finexusd the only way to withdraw the finexusd is by buying back cryptos at higher prices probably. So finex has the potential to manipulate the price of btc and other cryptos because finex has an infinity amount of finexusd that can use to stop a dip or increase the price of any crypto that supports (manipulates in any direction in my opinion, most probable upwards).
Tether(usdt) is used for making some withdrawals out of finex possibly but is also used by other exchanges for market making in order to follow the prices that finex make for the cryptos that supports.

If usdt is not redeemable for real usd then it does not mater if there are 670M usd sitting in several accounts. THIS IS NOT BACKING USDT BY REAL USD.
Assume that someone makes an arrangement with a bank to lend him some millions of usd without even moving the funds out of the bank and this person then issues usdt and makes huge profits and pay back the bank's interests (5% at most per year, nothing compared to the potential profits) then this does not make the usdt backed by usd because if someone owns usdt can not redeem them for real usd directly but has to sell the usdt for some other cryptos and then sell the cryptos for fiat in fiat<=> crypto exchange.

In conclusion:
1)the tether/finex scam has issued 670M usdt that the majority thinks wrongly that can be redeemed for real usd
2)finex has issued finexusd in order to keep the exchange running
In my opinion these actions have the result that the total market cap of the btc+altcoins has been inflated with more than 100B $. When finex and tether stop operating firstly a very short uptrend will probably occur by people starting to sell tether for cryptos then a long term down trend will occur because there would be no finex to absorve the panic sell and to support the inflated prices. A long term correction of 60-70% is very possible.

Stay away from Bitfinex, Tether(usdt), Poloniex, Bittrex and any other exchange that uses Tether (usdt)