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as coax can only cope with speeds up to 12mbps.
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Incorrect - the USB port is 11Mb and older boxes with only 10Mb ethernet have issues, but modern CMs and STBs with 100Mb ports can theoretically go up to whatever EuroDOCSIS spec is valid for 256QAM downstream channels, which is 52Mbps or so, or a bit less with overheads taken into account. I'm not sure any modems would be particularly reliable at such a rate, however.