armstrys117d agoExact 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.
@c7617e84…e1c295e0 @35b23cd0…db7517ea when will there be a feature to randomize or delay a direct deposit bitcoin purchase?
💬 7 replies
Replies (7)
Mark Sea117d agoBeen 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.
0000 sats
armstrys117d agoI 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
0000 sats
