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Regular external storage plugs directly into the computer, network storage can be anywhere that it can be plugged into the network - at the router or on a long cable somewhere, if set up any computer can access it and use it.
Example I have an external hard drive on my main computer but also have a network drive in the garage. I record security cameras to my main computer and to the garage both so if someone rips off one building or the other I will have pictures. If they get both buildings, then I'm out of luck :-)
Know your frustration with terms, maybe we should start using all those old terms like cool, grovin, 5 1/2 inch floppy, 64 k etc and loose the younger generation :-)
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