Comment by MarkusWandel

I don't have the math for this, but a colleague does, and after spending a few minutes on Matlab came up with about 0.278 bits/flip of channel capacity (Shannon) for the single observer, and I think around 0.451 bits/flip of channel capacity for the dual observers. That's the theoretical capacity with optimal coding. Whatever coding schemes need to be employed to get there, i.e. what redundancy to add to the bit stream... that's the hard part.