change of IP address in webmin

If i change ip address from static to Local of my webmin/virtualmin serer will it create any effect or webmin/virtualmin will work same as right now, i dont care it will not accessible from out side or via internet

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Howdy -- I'm not quite sure what you mean by changing your IP to "local".

Can you describe what you mean by "local" -- do you by chance mean DHCP?