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gwern comments on Open Thread February 25 - March 3 - Less Wrong
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The 120WPM is pretty good for the physical limits: if you are typing at 120WPM, then you have not hit the limits of your thinking (imagine you are in a typing tutor - your reading speed ought to be at least 3x 120WPM...), and you're not too far off some of the sustained typing numbers in https://en.wikipedia.org/wiki/Words_per_minute#Alphanumeric_entry
My point was that 1 bit per character is an underestimate.