current medical opinion (it does change every 20 years or so ;)) is that is isnt a big difference if you eat once or 5 times a day if you only consider basic body activities.
After a while the body adapts and you dont even feel really hungry anymore with 1 meal a day even if you have eaten 5 a day before and vice versa.
There is however a strong psychological component. People with 5 meals tend to be heavier because of e.g. they eat what is on the plate even if they are not hungry anymore, if it is sweet then the insulin is jumping around, making you more hungry then necessary etc.
On the other side with only one meal you can feel exhausted and/or be less able to perform maximum power, may it body or mind.
I personally mostly eat a big lunch at early midday (at 12), quite a bit in the evening (6-7pm) and nothing in the morning, with a few small sweet things about 2 hours before the meals (when you can really savor them ^^) or an apple or banana if I am hungry such early and occosional late evening snacks in the full range of fruits to something rally fatty.
I have a fatty liver, but I am very sure that was from the earlier years when I drank only soft drinks (fat and sugar are a devils circle). After I stopped and drank only tap water my condition went a lot better, while still having a very similiar eating habit as I just wrote.
In this time I also started to really pay attention to what my stomach says. My experience is basically:
1) you can (and should) react to what your body says to you - if you are not hungry, dont eat, even if it is food "wasted" (you dont have to put away 2 spoon full, of course, but dont get another plate). Occosional ignorance of this rule isnt a tradedy. Beeing overstuffed at feasts once a month is OK. Birthdays and marriages happen ;)
2) be careful with sugar. It really IS a drug. If you feel a craving for sweet things but dont have any hunger at all - be careful. If it happens just once or if it is after a feast (then its just your body having an insulin rollercoaster) - no problem. If your hands wander to the chocolate bars at the same time of day 3 days in a row you may have build a habit or worse. Lose it. Absent from sweets for a week or two. Then you will see that you lose the craving. A real sugar addiction can take a whole month or even two, though.
I had it once and there are 2 products I now never buy because I know I cant stop eating. Run into one at relatives a month ago. Promptly emtied the (1/2) bag. I just cant stop... but I didnt need to in this situation, because it was the exception day of rule one. I also overstuffed on BBQ.
If you dont have the exception you will just feel bad. Be friendly with yourself. Beating yourself with the whip will not motivate you to adhere to the rule on the other 29 days of the month.
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edit: the posters above posted as I wrote, so will lose a few words on this here.
I also read the (a) study with one meal a day. I also have a parent who has to use insulin injections for 10 years now.
I am sceptical on both 5-meals and 1-meal diet with diabetes.
5 meals is making the blood sugar more smooth, yes, and that is important. But it also means it is very easy for it to be slightly too high all the time - and that leads to dying legs.
1 meal is like the "eat every third day only half of normal" diet, which also showed better blood numbers esp. on fat.
But I think both are extreme diets and should not be the standard variant for anybody, especially diabetes. Both can be the best in certain circumstances.
3 meals a day definitely works for diabetes. You can do if good enough to not have extreme blood sugar numbers and still have the up/down that is normal for a body - and it well my be the body needs it.