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My preference is ebook. I only buy paper books for books I can't get in digital format and absolutely have to read.
If a paper book was much, much cheaper than the ebook I'd buy it I suppose, but since ebooks are usually $15 or less this would rarely happen.
I also live in a country where books are not cheap, and in a city isolated enough that it's pretty hard to find non-mainstream books anyway (and buying online ruins any price saving).
Oh, books that contain a lot of images/formatting/etc. I will buy in paper.
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