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In general I'm in favor of this, but in particular I'm not sure I'd use it. One thing I've noticed about writing my novel is that I frequently have to go back and tweak things, which would be severely stepped upon if I had already published that section. And if you wait until the whole book is done, why publish in pieces instead of the whole thing at once?
Still, this could probably be useful for many writers. Short stories and a lot of non-fiction could be well suited to this.
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