well geostationary orbits are generally 35,000km up, which would have a minimum latency of about 600ms, but satellites operating at LEO are usually about 1,000km above the earth, which would put latency anywhere between 30 ~ 50ms depending on where the satellite is overhead as it moves through its sine wave-like orbit. At 30 ~ 50ms, it would be close enough to what people experience with 4G cell phones that it would be fine for just about anything that doesn't involve gaming …

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