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Wow, what a big rip-off to have to read some books online. I'm not even sure I would do that if it was free. I know for sure I wouldn't pay for it.
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So ... I could pay for the right to read a favorite book for the next 20 years on any internet-connected device, I never have to remember where that book is but just remember my Google username and password? My ebook reader dies, my computer dies, - the books remain. When I die - i pass on my account to a child so it remains. Not a totally bad idea.