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Originally Posted by Kushan
It sounds like virgin are doing this "properly". That is, the wireless connection will be dishing out completely independent IP's than that of your private connection. Should someone use it for nefarious deeds, it wouldn't ever come back to you. No different to BT today.
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Yes, indeed. I don't believe any commercial ISP has every done it non-"properly", the only ones that share the connection owner's IP tend to be crowdsourced solutions like the one FON grew out of.
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Some questions do remain:- Will this work if you are in modem mode?
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- Interesting point. It's actually theoretically possible
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- If not, will this automatically opt me out?
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Probably not. The amount of work required to develop a system to tell if you're running in modem mode or not is not worth the effort.
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- Will this affect the wireless ability of the hubs, as presumably it's running a "Guest" network alongside the primary network?
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What wireless ability? 
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- What speeds will this give users? Virgin are capable of offering a substantially fast service with the way this is designed.
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Also a good point. I'd expect something in the range of 10-20Mbps. But that's just my guess. It'll almost certainly be less than 50.