See that ring or bubbles around the rim of the fermenter? That's the start of your krausen, you're good. You should have a good full krausen formed by now, if that was close to midnight (well, my time anyway) last night.
Now - this actually could be due to liquid vs dry yeast. Bear with me for a sec:
Dry yeast packets actually contain a higher cell count than liquid yeast. I've read there's something like 200 or 300 billion cells in your typical packet of dry yeast. Liquid yeast, on the other hand, has about 100 billion cells at packaging time. And, since they're active in that solution, they're more likely to die off over time than dry yeast is. The numbers could be wrong, but the principle is still there: there's a LOT more viable yeast cells in a packet of dry yeast than in your average package of liquid yeast.
So... When you're using liquid yeast, there's two things that are always good to keep in mind: 1) Get yeast packs/vials that are as fresh as possible. I know you saw a "best by" date on there - there is also a "packaged on" date. You want that date to be as close to the current date as possible. 2) Do a couple searches on starters, and consider using them. A simple starter can easily double or triple your cell count.
What you're actually seeing right now is called lag time. When you pitch yeast into a wort, that yeast needs to spend some time reproducing to make enough yeast cells to ferment out the whole wort. With dry yeast, since there's so many more viable cells to begin with, that lag time is shorter. Since a smack pack or vial of liquid yeast has so many fewer cells, it takes longer to reproduce to appropriate levels. If you had made a starter for that liquid yeast, chances are it would've lagged similarly to the dry yeast you're used to.