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Re:SpaceX Sells 10% Stake to Google, Fidelity for $1B by freeqaz on Tuesday January 20, 2015 @05:35PM (#8920143)
For geostationary orbit, yeah it's high latency. That's like >22k miles up. Low-earth orbit is a few hundred miles. The difference in latency is huge.

The highest cost is that you will lose sync with the satellite, since they will be rotating over the horizon frequently. If you can launch enough satellites, then you can have multiple in view at any given time and thus keep a continuous link.

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