Been thinking this as well.
You’re probably better off with target buys and letting the balance earn the 3.5% in River while you wait and just pay the buy fee.
Long term, the differences will be negligible though.
Exact timing of cashapp direct deposit (at midnight eastern). Really feels like folks on common direct deposit schedules are a potential target for high frequency traders.
nostr:npub1cashappn03s3cl2ljsdntv0v28e2um5lgx4vjctqjt23pcwzjhsqmtdg5l nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en when will there be a feature to randomize or delay a direct deposit bitcoin purchase?
Discussion
I typically don’t zoom in this far on the chart, but if high frequency traders can time the market and make bitcoin 1% more expensive for every buy on a systematic schedule then there is less advantage in feeless purchases via direct deposit. Users on a schedule are just paying the fee to high frequency traders instead of river/cashapp.
I don’t trust myself to set accurate targets and to consistently buy, which is why I think an automatic time delay would potentially be a good solution
And that is a big IF! I don’t have concrete data to show that this is happening systemically, but it does deal like every direct deposit is lower in the morning when I wake up than when it was purchased. Only anecdotal.
I think zero hedge was tracking something like this. Daily 10am dump from what I remember.
Fair points. It would be a good solution for those who don’t want to think about accumulating.