I appreciate this insightful article on Hyperliquid. It's important that people are informed about the potential risks associated with this Exchange.
When the Hyperliquid decentralized exchange launched, I was intrigued and decided to test it out. Here’s a summary of my experience:
1. Initial Transaction: I made a test transaction, which unfortunately got stuck in the process.
2. Support Interaction: I contacted customer support regarding the issue. A few hours later, the swap successfully went through.
3. Follow-Up Questions: I had some follow-up questions about the platform’s operations:
- How can it be labeled as an automated decentralized exchange if moderators can interfere with transactions?
- Why is the source code of the DEX kept private?
4. Response from Support: The support team explained that they keep the source code private to maintain a competitive edge.
This experience raised concerns about the true decentralization and automation of the exchange. I am not sure why Coinmarketcap & Coingecko label Hyperliquid as a DEX.
Well, I'm no cryptobro by any means, but I see the usability in cryptocurrencies. As always, when humans touch something well built and thought, it goes corrupt.
The basis? It is useful to overcome censorship, inflation and money transfers without relying on third parties (or relying on burocratic, traditionally greedy and ancient parties). It has some uses as a ledger, but this has not come that useful. Or, in my opinion, useful projects are overlooked and only greedyness is what drives the space.
Your sentiment is not wrong, but I see it as a reflection of human currency interaction. If I say "I don't think I ever heard anything good coming out of cash" could be true. Why would we hear something good about something that only its bad uses are news and worth mentioning. Same happens with crypto. I know it is a bit of a mental stretch to use this argument and it isn't 1:1, but cash is being used illegaly as well.
I see a trend that all privacy focused projects have this bad press always:
- Cryptocoins (used only by scams)
- GrapheneOS/privacy focused oses (used by fugitives and crimibals)
- Tor (Used for dark web)
and while that's true, I keep thinking that the interests for banning privacy focused projects is what drives that bad sentiment and bad press. Not only that, I know betwen black and white there are grays and colours :D
bitsignal|2 months ago
When the Hyperliquid decentralized exchange launched, I was intrigued and decided to test it out. Here’s a summary of my experience:
1. Initial Transaction: I made a test transaction, which unfortunately got stuck in the process.
2. Support Interaction: I contacted customer support regarding the issue. A few hours later, the swap successfully went through.
3. Follow-Up Questions: I had some follow-up questions about the platform’s operations:
- How can it be labeled as an automated decentralized exchange if moderators can interfere with transactions?
- Why is the source code of the DEX kept private?
4. Response from Support: The support team explained that they keep the source code private to maintain a competitive edge.
This experience raised concerns about the true decentralization and automation of the exchange. I am not sure why Coinmarketcap & Coingecko label Hyperliquid as a DEX.
saubeidl|2 months ago
The technology has been out for a while now and I don't think I ever read anything good coming out from it.
Why do people still bother?
jopicornell|2 months ago
The basis? It is useful to overcome censorship, inflation and money transfers without relying on third parties (or relying on burocratic, traditionally greedy and ancient parties). It has some uses as a ledger, but this has not come that useful. Or, in my opinion, useful projects are overlooked and only greedyness is what drives the space.
Your sentiment is not wrong, but I see it as a reflection of human currency interaction. If I say "I don't think I ever heard anything good coming out of cash" could be true. Why would we hear something good about something that only its bad uses are news and worth mentioning. Same happens with crypto. I know it is a bit of a mental stretch to use this argument and it isn't 1:1, but cash is being used illegaly as well.
I see a trend that all privacy focused projects have this bad press always: - Cryptocoins (used only by scams) - GrapheneOS/privacy focused oses (used by fugitives and crimibals) - Tor (Used for dark web)
and while that's true, I keep thinking that the interests for banning privacy focused projects is what drives that bad sentiment and bad press. Not only that, I know betwen black and white there are grays and colours :D
Just my grain of salt
OutOfHere|2 months ago
Moosdijk|2 months ago
egamirorrim|2 months ago