You are limited by the subnet range.
If you have a consumer based router, many of them are limited by one subnet with a /24 mask. You can then only have 254 usable IPs behind that router for your hosts.
So it depends.
JorgeM
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JorgeM is correct, except that normally it would be 253 IP's since the router gateway address will take at least one (usually 1 or 254) as 0 and 255 are special cases and aren't used for node id's.
Here is a good Wikipedia article on the subject: http://en.wikipedia.org/wiki/IPv4
rubberman
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minimee120
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The answer is the same. It depends on the subnet. For a typical home implementation using a /24 mask, 252 hosts (1 for the router and one for the access point). However, keep in mind that wireless is a shared network like classic Ethernet. The more nodes you have on the wireless AP, the slower the network becomes.
JorgeM
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Which limifation are you referring to? Only connecting to one computer? If that's true, which I haven't seen, it would be a feature limitation, not an IP or router limitation. Maybe you are thinking about a modem that an ISP may be using like in the old days where you could only connect one host and you would have to run PPPoE software on the pc to establish the connection back to your ISP.
JorgeM
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