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Y2K was a self defeating prophecy. Because everybody expected it, everybody prepared for it.

 

There are hundreds of workarounds for the limitations in IPV4 and IPV6 should fix the problem. We will never actually run into horrible difficulties due to the lack of IPV4 addresses (which I must say were never actually designed for the use they are currently getting) due to some rather clever people limiting the problems until IPv6 is dominant.

 

Edit: And yes, giving out class A networks was probably a bad idea. They didn't know that at the time however.