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
> It is useful to overcome censorship, inflation and money transfers
No it's not. It cannot overcome any of these, and the constant nagging to the opposite is a big part of the scam. The problems in question are political and cannot be solved outside of the regulatory framework.
> without relying on third parties (or relying on burocratic, traditionally greedy and ancient parties).
Well, the non-traditionally greedy happen to be much greedier and a mere tool in the hands of the "traditional and ancient parties". A bunch of politicians and those connected to them are the ones who benefit the most from crypto scams, guess what's going to happen when the music stops and their profits dry up.
> I see a trend that all privacy focused projects have this bad press always - Cryptocoins, GrapheneOS, Tor
Because they are designed to accommodate scams under the guise of privacy - I'd exclude GrapheneOS from that list though, it's very different, it doesn't have a bad name among the grassroots and including in this list is nonsensical.
> No it's not. It cannot overcome any of these, and the constant nagging to the opposite is a big part of the scam.
The only person here who is running a scam here is you with your blatant disinformation and fundamental ignorance. Just because you cannot do basic tasks doesn't mean that others can't either.
> The only person here who is running a scam here is you
A naked claim that lacks elementary support, like motives.
> with your blatant disinformation and fundamental ignorance.
Another evidence-free claim. I'm simply describing the state of affairs as they are in real life, the empirical evidence is fully in agreement with my writing.
> Just because you cannot do basic tasks doesn't mean that others can't either.
Same old, same old, you know nothing about me but continue to throw wild claims at the wall.
FYI, I'm quite familiar with all sides of crypto, it's the crypto-bros who are so blinded by greed that end up with absolutely no clue about what they are doing on social level.
You're the one who said cryptocurrency cannot overcome censorship and do money transfers. You might as well have said that humans cannot breathe oxygen. I don't need to prove self-evident truths. By rejecting obvious truths, you are operating in extremely bad faith.
No, I don't need to show you anything impressive because it is sufficient to be able to rapidly transfer financial value with explicit consent and without permission from the financial system or governments -- cryptocurrency facilitates it. Nothing else need be said.
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.
This is really great, thanks so much for your work.
All I ever hear from the crypto space is scams.
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?
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
Just my grain of salt
> It is useful to overcome censorship, inflation and money transfers
No it's not. It cannot overcome any of these, and the constant nagging to the opposite is a big part of the scam. The problems in question are political and cannot be solved outside of the regulatory framework.
> without relying on third parties (or relying on burocratic, traditionally greedy and ancient parties).
Well, the non-traditionally greedy happen to be much greedier and a mere tool in the hands of the "traditional and ancient parties". A bunch of politicians and those connected to them are the ones who benefit the most from crypto scams, guess what's going to happen when the music stops and their profits dry up.
> I see a trend that all privacy focused projects have this bad press always - Cryptocoins, GrapheneOS, Tor
Because they are designed to accommodate scams under the guise of privacy - I'd exclude GrapheneOS from that list though, it's very different, it doesn't have a bad name among the grassroots and including in this list is nonsensical.
> No it's not. It cannot overcome any of these, and the constant nagging to the opposite is a big part of the scam.
The only person here who is running a scam here is you with your blatant disinformation and fundamental ignorance. Just because you cannot do basic tasks doesn't mean that others can't either.
> The only person here who is running a scam here is you
A naked claim that lacks elementary support, like motives.
> with your blatant disinformation and fundamental ignorance.
Another evidence-free claim. I'm simply describing the state of affairs as they are in real life, the empirical evidence is fully in agreement with my writing.
> Just because you cannot do basic tasks doesn't mean that others can't either.
Same old, same old, you know nothing about me but continue to throw wild claims at the wall.
FYI, I'm quite familiar with all sides of crypto, it's the crypto-bros who are so blinded by greed that end up with absolutely no clue about what they are doing on social level.
You're the one who said cryptocurrency cannot overcome censorship and do money transfers. You might as well have said that humans cannot breathe oxygen. I don't need to prove self-evident truths. By rejecting obvious truths, you are operating in extremely bad faith.
There are enough people that let their greediness overtake their ability to think
Your problem is that scams are intentionally all you see, meaning you are willfully blind to everything else.
I am not! Consider this an open invitation to show me impressive things, I would genuinely appreciate having my mind changed.
No, I don't need to show you anything impressive because it is sufficient to be able to rapidly transfer financial value with explicit consent and without permission from the financial system or governments -- cryptocurrency facilitates it. Nothing else need be said.