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?
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.
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.
