1981: IPv4 ships with 32-bit addresses — 4,294,967,296 of them. On the internet of that year, an unimaginable surplus.
3 February 2011: the last five /8 blocks leave IANA, one per regional registry. The global free pool is empty — permanently.
Then the registries drain, in order: APNIC 2011, RIPE NCC 2012, LACNIC 2014, ARIN 2015. Addresses now move only by trade — at roughly $27.75 each.
Demand never noticed. Eight billion people (Nov 2022), seventeen connected devices per US home. Machines outnumber addresses several times over — and everything still connects.
That is 0.54 addresses per person — computed on this page — before counting a single gadget. The fix, unchanged since 1994: a 16-bit field nobody talks about.
Every conversation is four numbers: your address, your slot, their address, their slot. The slot field is 16 bits — one address owns 65,536 of them, twice over (once for TCP, once for UDP).
The bottom rows are reserved: ports 0–1023, where services listen on fixed numbers — 443 for HTTPS, 53 for DNS.
Clients pick from the top quarter — 49152–65535, the dynamic range — a free slot rented for one conversation and returned.
This one — port 51,724, positioned by the code on this page — is your laptop's slot. The whole trick ahead is renting this wall out, machine by machine.
Your laptop sends FROM 192.168.1.20:51724 TO 93.184.216.34:443. Private addresses cannot cross the internet — so the router does something to this packet.
It rewrites the source to 203.0.113.7:50123 — its own public address plus a free slot — and stamps a row into its translation table. The table, not the address, now remembers who is talking.
The server replies to 203.0.113.7:50123 — the only address it has ever seen. The router matches the row, swaps the destination back, delivers.
Your phone talks too, from 192.168.1.34:40001: same public address, next free slot. Two conversations, two rows, one address.
From outside, your whole household is one machine — one address, a scatter of slots. That is why every device at home shows the same “what is my IP” answer.
The rows are rentals: they expire when quiet and vanish on reboot. Which is where the trouble starts.
A stranger sends to 203.0.113.7:50200 — a slot nobody claimed. No row, no match, no delivery: dropped. The bin's counter is computed from this page's scripted attempts. This is why you cannot host a game server by asking nicely.
Rows also expire: quiet UDP dies in ~30 seconds, established TCP can live ~5 days (netfilter defaults, illustrative). Idle lobbies disconnect because their rows evaporated — not because the network broke.
The exception is a row you write yourself. Port forwarding: slot 25565 always leads to the Minecraft machine, no conversation required — an invitation pinned to the door.
And every row is memory. A wire would never need this scene: NAT makes the middle of the network a party to every conversation — the elders call it breaking the end-to-end principle.
Your ISP runs the same ledger, city-sized. To it, your whole household is one endpoint: 100.64.12.8, from 100.64.0.0/10 — a private stage reserved in 2012 for exactly this.
The ISP's router rewrites again: your house leaves as 62.204.7.9:32001 — a public address you share with strangers, wearing a slot that is yours only for now.
Neighbors stack into the same table: one outside address, distinct slots. Operators must log every row — when abuse comes from a shared address, the log is the only way home.
Two clerks, no shared notes: double NAT. You control the home clerk; you will never control the ISP's. Its rules — its port rations — are next.
01How far does one address stretch?
One address owns about 64,512 usable slots (65,536 minus the reserved 1,024). All of carrier-grade NAT is deciding how many a subscriber may hold at once — the standard requires the limit to exist. Turn the dials; every number below is computed from them, right now, in your browser.
COMPUTED FROM YOUR DIAL · RATIOS ILLUSTRATIVE — REAL LIMITS VARY BY ISP
| PORTS / SUBSCRIBER | SUBSCRIBERS / ADDRESS | DEVICES / ADDRESS | DEVICES / /24 | DEVICES / /22 |
|---|---|---|---|---|
| 256 | 252 | 4,284 | 1,096,704 | 4,386,816 |
| 1,024 | 63 | 1,071 | 274,176 | 1,096,704 |
| 2,048 | 31 | 527 | 134,912 | 539,648 |
| 4,096 | 15 | 255 | 65,280 | 261,120 |
At the defaults, 256 addresses — one small pool — front over a quarter million devices; at mobile-tight ration, 1.1 million. And when a block is spent on a Sunday evening, the standard is blunt: drop the packet, never evict a neighbor's live row. Port exhaustion looks, from the sofa, exactly like the internet being broken.
Console gaming — two households on one shared address may be unable to join each other's lobby.
Geolocation — maps place you at the ISP's shared router, not your street.
Login limits — banks cap sessions per address; strangers share your quota.
Inbound by design — seeding and incoming calls need a reachable slot. Next scene.
Two homes, two tables, both refusing inbound. First, discovery: each side asks a public STUN broker what it looks like from outside. You: 62.204.7.9:32044. Friend: 198.51.100.4:61200.
Now the punch: both fire outbound at each other, simultaneously. Each router stamps a row before the other's packet arrives — the hole exists on both walls.
The rows line up; the conversation runs direct, full speed. This choreography — standardized as ICE — is how voice, games and WebRTC mostly work behind NAT.
When tables are too strict, traffic falls back to a TURN relay — slower, always works. Every call you have ever made quietly picked one of these paths.
An address is a lease on sixty-five thousand slots.
02So what is an address now?
Not a name — a lease. A NAT swaps each machine's private return address for its own plus a free port, and the table, not the address, takes your packets home. Rent the trick at ISP scale, ration the slots, and a pool smaller than a university campus fronts a million machines. Whoever runs the table runs the rules: your router's you can edit; your ISP's you cannot.
The way out is IPv6 — 128 bits, a name for everything — already carrying about half of Google's traffic (April 2026). Until it finishes arriving, the clerk keeps the internet moving, one rewritten envelope at a time. Following packets is this notebook's habit: one Starlink packet's journey through space is its own note.