splitting external dsl

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i have an external dsl modem. is there any reason i cant just split the line going from modem to ethernet card, so that i can simultaneously use the modem from 2 pc? By this i mean.. i have a 20$ line splitter, and would prefer not to buy a router unless I have to. please reply with very basic language, as I know little about this subject. thank you
 
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I have my external dsl modem connected to a hub, from which, I have three pcs connected to the hub, which share the dsl line. If your ISP gives you a dynamic ip (DHCP), you could easily just get a hub to share the DSL line, that way you could add another computer if you ever want to.
 
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ok, sounds easy... what kind of hub? i just went searching for aa hub and found many different kinds ......
 
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Depends on the network cards in your systems. If you want to share files between them at the fastest speeds, a 10/100 Mbit hub will work quite well. The cable modem's ethernet port is only 10Mbps so a 10Mbps hub will do the trick as well (but the computers will only talk to each other at 10Mbps). For the price difference, a 10/100 hub will work well in your situation and it shouldn't cost more than $50-$60 for a 5 port 10/100 hub. A 3 port hub would also work, but you won't find one with that few ports... Each port will correspond to a device on the network, so make sure you get one that will allow for expansion (network printer, another networked PC, etc...).