The National Broadband Network released their annual report on Monday, confirming it's rolling out a bit slower and more pricey than expected.

NBN Co CEO Bill Morrow popped into Hack to answer your NBN questions ... turns out it's all about Ferraris, rockets and living as close to the node as possible.

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1. Bill wants a Ferrari, but Australia can't afford it

Bill Morrow stands by the Abbott Government's decision to use a cheaper multi-technology mix over Labor's plan to roll out fibre-to-the-premises across the whole country.

"If you offer me, as a tax payer, to fibre everyone's home when only a few people are going to use it - that doesn't ring common sense with me."

Instead NBN Co are focused on getting everyone in the country connected quickly and at a reasonable cost to broadband, with an "upgrade path" for the future.

Their multi-technology mix means less FTTP (20 per cent of the country), combined with other alternatives including, fibre-to-the-node (38 per cent), hybrid fibre coaxial cables (34 per cent), fixed wireless (5 per cent) and satellite services (3 per cent).

2. The entire NBN network will be built by 2020 ... and shouldn't cost more than $56 billion

"Somebody's got to be first and somebody's got to be last."

Bill Morrow says he's pretty confident the entire NBN Network will be built by 2020, and he's also pretty sure it will only cost $46-56 billion. Previously, the total cost of the project was slated at $41 billion.

3. If they run out of money ... they won't ask the Government for more

"We'll borrow that money from the banks."

Bill Morrow says the cost blow-out shouldn't phase anyone, as what they're doing it still $20 billion cheaper than going FTTP across the country.

4. Not everyone even wants to use the NBN

According to Bill Morrow, once the roll out is complete, not everyone will want to use it because not everyone had high speed internet needs.

NBN Co estimate 72-73% of homes will use the NBN. Everyone else will stay on wireless, or won't connect their "second homes or holiday homes" to the world wide web.

4. Regional and rural black spot areas are THE priority

Bad news for anyone living in or around a CBD — don't expect to get the NBN anytime soon.

Those in "under served" areas, so people with little to no broadband, are first priority in the NBN rollout.

In the next 6 weeks NBN Co will be launching their three-year plan, which will have specific information about when construction will begin in regional areas all around the country.

And if that info isn't available #soon, just call Bill's office.

4. If you see fibre in your street, it doesn't mean you're getting the NBN

Sometimes NBN Co take fibre from suburban streets to "service the network" in other areas.

"A lot of time that fibre is going to feed a major distribution point, or a massive network that circles in a big ring around the country and then people extend and we connect homes off that. That doesn't necessarily mean your neighbourhood is ready yet for the connection to tie in."

5. If the copper is crap, they won't use it

Part of the Government's multi-technology mix roll-out involves using Telstra's copper network, which Monday's annual report revealed is of an "unknown quality".

Bill Morrow told Hack there's a "2000 page complex agreement" between NBN Co and Telstra that gives them the right to ditch anything that's dodgy.

"As part as the copper network goes, we've made a pledge that if that copper is not in a suitable condition to offer the kind of speeds that we're promising then we're just going to forgo the copper and we're going to build right over the top of that with an alternative technology."

But most of the copper should be good to go. Telstra have given them trouble rates on their network, which means most of the copper is in good shape. For anything that's not - NBN Co have budgeted to build right over it.

6. Fixed wireless is better than 4G

"Everybody can attest that's using the fixed wireless service today they do love it ... if you're in that area, I think you're going to be pleased."

Bill Morrow says the fixed wireless services is hitting 25 Mbps, and they're moving into 50 Mbps. He says the NBN's highest customer satisfaction comes from fixed wireless.

7. The rockets are weeks away from launching NBN satellites into space

The first special purpose satellite goes up at the end of September, and it takes four or five months to position it and then do testing. It should be ready to roll in March/April 2016.

The two satellites are going to cover 400,000 homes and will cover a 25 Mbps service.

8. If you live next to a node, your internet speeds will be fully sick

"I can almost assure you, you're going to see something in 75-86 Mbps."

But as you go further away from the node, say 1km, speeds drop to the 25 Mbps level. But remember, it's the distance of the copper not the distance of your home from the node.

9. You should be able to get 1 Gbps, if you have fibre

According to Bill Morrow, most households are connected to the NBN via fibre, so they can receive speeds of up to 1 gigabit per second if you're willing to pay for it from your providers.

But 80 per cent of all the access speeds chosen by NBN users is 25 Mbps or less. Most people chose 12 Mbps.

Remember, the average speed of people using ADSL is 6 Mbps.