What is the difference between a static IP address and a floating IP address?

Static IP always remains the same if you shut the computer down and restart. The floating IP (or the one assigned by DHCP), changes sometimes on a daily or hourly basis, mostly depending on if you shut your computer down and restart it. During the time your computer is (offline), the DHCP server can assign that former IP to a unit that was just booted up. In that case you would be assigned a new IP when you booted up.