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…the total outcome of NATs is to increase the available address capacity in IPv4 from 4 billion endpoints (232) to some 1,000 trillion endpoints (250). …the usable address capacity in IPv6 is somewhere between 49 bits and 58 bits. This conclusion points to the observation that the overall carrying capacity of IPv6 is not all that different from that of a dense IPv4 deployment making highly efficient use of NATs.

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– Geoff Huston, IPv4 Address Markets (emphasis mine)

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